The Plastic Furniture Market size to grow at a CAGR of 4.67% from 2022 to 2027; The increasing online sales to boost market growth - Technavio

NEW YORK, Aug. 9, 2023 /PRNewswire/ -- The plastic furniture market is estimated to grow at a CAGR of 4.67% between 2022 and 2027. The market size is forecast to increase by USD 3,637.36 million, according to Technavio. APAC is estimated to contribute 43% to the growth of the market during the forecast period. China and India are key contributors to the market in the region. Growth is driven by high-income levels and rapid urbanization in developed countries. With rising disposable income in major countries such as China and India, the demand for plastic furniture is increasing in both residential and commercial sectors. The presence of online platforms such as Amazon.com Inc. further strengthens the retail sector in the region. Hence, these factors are expected to drive segment growth during the forecast period. For Comprehensive details on the market size of the historical period(2017 to 2021) and forecast period (2023-2027) - View the Sample report

Company Landscape
The plastic furniture market is fragmented; the companies are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products -The report provides a full list of key companies, their strategies, and the latest developments. Buy Now

Market Dynamics

Key Driver

Increasing online sales is a key factor driving market growth. The market is witnessing a surge in online start-ups like Wayfair, alongside established players such as Walmart and Target, aiming to expand their customer base in the digital space. The significant use of smartphones by millennials has further fueled the online sales of plastic furniture, contributing to overall market revenue. With the US having over 2 billion active smartphone users, companies have a vast opportunity to tap into the online plastic furniture market. Hence, these factors are expected to drive market growth during the forecast period.

Major Trends

A growing desire for eco-friendly and sustainable alternatives is a major trend in the market. Growing environmental awareness among customers has led to a preference for eco-friendly furniture options and an acceptance of recycled biodegradable plastic furniture. By utilizing consumer or industrial plastic waste, recycled plastic furniture supports a circular economy and reduces demand for virgin plastic materials. In addition, manufacturers are concentrating their production methods on advanced materials and technologies such as bioplastics.  Thus, these factors are expected to drive market growth during the forecast period.

Significant Challenges

The unpredictability of raw material prices is a significant challenge restricting market growth. The plastic furniture industry faces uncertainty due to factors such as supply chain disruptions, geopolitical tensions, and changing market dynamics. Raw material prices can fluctuate unexpectedly and affect production costs, profit margins, and market competitiveness, so manufacturers and suppliers should closely monitor raw material prices to reduce risk. Adapting to this uncertainty and minimizing its impact is critical for companies operating in this space.  Hence, the unpredictability of raw material prices is expected to restrict market growth during the forecast period.

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View Sample Report

Company Profiles

The plastic furniture market report includes information on the product launches, sustainability, and prospects of leading companies including Ashley Furniture Industries LLC, Avro India Ltd., Cello World Pvt. Ltd., Harwal Group, Inter IKEA Holding BV, JYSK, Keter Home and Garden Products Ltd., Kristalia SRL, Mangochairs, Nilkamal Ltd., PIL Italica Lifestyle Ltd., Prakash Plastic Works, Prima Plastics Ltd., Sathya Corp., Siddhi Polymers, Taizhou Huangyan Fow Mould Co. Ltd., The Supreme Industries Ltd., Tramontina USA Inc., UMA Plastics Ltd., and Vitra International AG.

Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.

 Market Segmentation

The market is segmented by distribution channels (offline and online), end-user (residential and commercial), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

• The market share growth by the offline sales channel segment will be significant during the forecast period. Despite the growing popularity of online shopping, many consumers still prefer the traditional offline furniture shopping experience. Offline channels such as brick-and-mortar stores, furniture showrooms, and specialty retailers allow customers to physically inspect and test furniture before purchasing. This preference is especially pronounced in regions with low e-commerce penetration or where customers value tactile experiences and intuitive interactions.   Hence, these factors are expected to drive segment growth during the forecast period.

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Related Reports

The online furniture market is estimated to grow at a CAGR of 17.73% between 2022 and 2027. The market size is forecast to increase by USD 139.97 billion. Furthermore, this report extensively covers market segmentation by application (online residential furniture and online commercial furniture), product (living room furniture, bedroom furniture, office furniture, and kitchen furniture and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The increasing online spending and smartphone penetration is a key factors driving market growth during the forecast period.

The office furniture market is estimated to grow at a CAGR of 6.09% between 2022 and 2027. The market size is forecast to increase by USD 26.8 billion. report extensively covers market segmentation by distribution channel (offline and online), end-user (commercial office furniture and home office furniture), product (seating, systems, tables, storage units and files, and overhead bins), and geography (APAC, North America, Europe, South America, and Middle East and Africa). The increase in the number of office spaces worldwide is a key factor driving market growth during the forecast period.

Table of Contents

Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Company Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of companies included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global plastic furniture market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global plastic furniture market 2017 - 2021 ($ million)

• 4.2 Distribution channel Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ million)

• 4.3 End-user Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
• Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 32: Chart on Comparison by Distribution Channel
• Exhibit 33: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.4 Online - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel 
• Exhibit 42: Market opportunity by Distribution Channel ($ million)
• Exhibit 43: Data Table on Market opportunity by Distribution Channel ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 44: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 45: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 46: Chart on Comparison by End-user
• Exhibit 47: Data Table on Comparison by End-user

• 7.3 Residential - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Residential - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Residential - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Residential - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Residential - Year-over-year growth 2022-2027 (%)

• 7.4 Commercial - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Commercial - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Commercial - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Commercial - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Commercial - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by End-user 
• Exhibit 56: Market opportunity by End-user ($ million)
• Exhibit 57: Data Table on Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 63: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 75: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027 
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Company Landscape

• 11.1 Overview

• 11.2 Company landscape 
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Company Analysis

• 12.1 Companies covered
• Exhibit 109: Companies covered

• 12.2 Market positioning of companies
• Exhibit 110: Matrix on company position and classification

• 12.3 Ashley Furniture Industries LLC 
• Exhibit 111: Ashley Furniture Industries LLC - Overview
• Exhibit 112: Ashley Furniture Industries LLC - Product / Service
• Exhibit 113: Ashley Furniture Industries LLC - Key offerings

• 12.4 Avro India Ltd.
• Exhibit 114: Avro India Ltd. - Overview
• Exhibit 115: Avro India Ltd. - Product / Service
• Exhibit 116: Avro India Ltd. - Key offerings

• 12.5 Cello World Pvt. Ltd. 
• Exhibit 117: Cello World Pvt. Ltd. - Overview
• Exhibit 118: Cello World Pvt. Ltd. - Product / Service
• Exhibit 119: Cello World Pvt. Ltd. - Key offerings

• 12.6 Harwal Group
• Exhibit 120: Harwal Group - Overview
• Exhibit 121: Harwal Group - Product / Service
• Exhibit 122: Harwal Group - Key offerings

• 12.7 Inter IKEA Holding BV 
• Exhibit 123: Inter IKEA Holding BV - Overview
• Exhibit 124: Inter IKEA Holding BV - Product / Service
• Exhibit 125: Inter IKEA Holding BV - Key news
• Exhibit 126: Inter IKEA Holding BV - Key offerings

• 12.8 JYSK 
• Exhibit 127: JYSK - Overview
• Exhibit 128: JYSK - Product / Service
• Exhibit 129: JYSK - Key offerings

• 12.9 Keter Home and Garden Products Ltd. 
• Exhibit 130: Keter Home and Garden Products Ltd. - Overview
• Exhibit 131: Keter Home and Garden Products Ltd. - Product / Service
• Exhibit 132: Keter Home and Garden Products Ltd. - Key offerings

• 12.10 Kristalia SRL
• Exhibit 133: Kristalia SRL - Overview
• Exhibit 134: Kristalia SRL - Product / Service
• Exhibit 135: Kristalia SRL - Key offerings

• 12.11 Nilkamal Ltd.
• Exhibit 136: Nilkamal Ltd. - Overview
• Exhibit 137: Nilkamal Ltd. - Product / Service
• Exhibit 138: Nilkamal Ltd. - Key offerings

• 12.12 PIL Italica Lifestyle Ltd. 
• Exhibit 139: PIL Italica Lifestyle Ltd. - Overview
• Exhibit 140: PIL Italica Lifestyle Ltd. - Product / Service
• Exhibit 141: PIL Italica Lifestyle Ltd. - Key offerings

• 12.13 Siddhi Polymers
• Exhibit 142: Siddhi Polymers - Overview
• Exhibit 143: Siddhi Polymers - Product / Service
• Exhibit 144: Siddhi Polymers - Key offerings

• 12.14 The Supreme Industries Ltd. 
• Exhibit 145: The Supreme Industries Ltd. - Overview
• Exhibit 146: The Supreme Industries Ltd. - Business segments
• Exhibit 147: The Supreme Industries Ltd. - Key offerings
• Exhibit 148: The Supreme Industries Ltd. - Segment focus

• 12.15 Tramontina USA Inc.
• Exhibit 149: Tramontina USA Inc. - Overview
• Exhibit 150: Tramontina USA Inc. - Product / Service
• Exhibit 151: Tramontina USA Inc. - Key offerings

• 12.16 UMA Plastics Ltd.
• Exhibit 152: UMA Plastics Ltd. - Overview
• Exhibit 153: UMA Plastics Ltd. - Product / Service
• Exhibit 154: UMA Plastics Ltd. - Key offerings

• 12.17 Vitra International AG 
• Exhibit 155: Vitra International AG - Overview
• Exhibit 156: Vitra International AG - Product / Service
• Exhibit 157: Vitra International AG - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 158: Inclusions checklist
• Exhibit 159: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 160: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 161: Research methodology
• Exhibit 162: Validation techniques employed for market sizing
• Exhibit 163: Information sources

• 13.5 List of abbreviations
• Exhibit 164: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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