Market Size of Rattan Furniture Industry
Study Period | 2020 - 2029 |
Market Size (2024) | USD 0.91 Billion |
Market Size (2029) | USD 1.05 Billion |
CAGR (2024 - 2029) | 5.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Rattan Furniture Market Analysis
The Rattan Furniture Market size is estimated at USD 0.91 billion in 2024, and is expected to reach USD 1.05 billion by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).
The Rattan Furniture market is signifying the majority of Asian countries such as China, India, and Japan, as well as African countries such as Ghana, Nigeria, and Cameroon, are promoting the cultivation of rattan and, thus, manufacturing of Rattan Furniture is mainly found in Asia countries making Asia-Pacific the largest market of it. The economically cheap products are further exported to Western countries, creating Europe's demands as a key market driver. Cultivation of rattan provides an economically viable means of eradicating poverty from rural societies and helps people sustain and support their livelihood.
Rattan is increasingly becoming a preferred choice over timber as it’s easier to harvest transport and is relatively affordable. It’s water-resistant by nature and offers high durability. Its benefits result in the sustainable use of rattan in applications such as furniture, shelter, and handicraft products. Rattan also produces flooring, charcoal, mats/screens, and woven products. Therefore, a vast range of commercial applications is anticipated to boost the sales of Rattan products and drive market growth over the forecast period.
However, the usage of toxic chemicals in processing processed Rattan products, including furniture, flooring, and pulp & paper, escalates the introduction and implementation of stringent laws and regulations. The intrusion of such rules may negatively impact the long-term supply, cost, and sales of Rattan products. These factors are expected to challenge the market growth over the forecast period.
The coronavirus pandemic hit the manufacturing, logistics, and sales of Rattan Furniture very severely. It decreased the export of Rattan wood from Indonesia and China and thus halted manufacturing in the western and Asian countries, drastically impacting the Rattan Furniture Market. However, the rise in construction and opening up of the markets globally has brought the Rattan Furniture Market back on track, leading to the market's growth at an average pace throughout the forecast period.
Rattan Furniture Industry Segmentation
The Rattan Furniture Market is one of the most widely demanded Furniture markets as people prefer sustainable and lightweight naturally cultivated products for furniture. A complete background analysis of the Rattan Furniture Market, which includes an assessment of the economy, market overview, market size estimation for critical segments, emerging trends in the market, market dynamics, and key company profiles, are covered in the report.
The Rattan Furniture Market is segmented by product type (chair, table, bed, storage, others), by distribution channel (multi-brand stores, exclusive stores, online and other distribution channels), by end-users (residential, commercial), and by geography. (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa).
The report offers market size and forecasts for the Rattan Furniture Market in value (USD) for all the above segments.
By Type | |
Table | |
Chairs | |
Storage | |
Beds | |
Other Types |
By Application | |
Residential | |
Commercial |
By Distribution Channel | |
Multi-brand Stores | |
Exclusive Stores | |
Online | |
Other Distribution Channel |
By Geography | |
North America | |
Europe | |
Asia-Pacific | |
Latin America | |
Middle- East and Africa |
Rattan Furniture Market Size Summary
The Rattan Furniture Market is poised for significant growth, driven by its increasing popularity as a sustainable alternative to traditional timber. This market is predominantly concentrated in the Asia-Pacific region, with countries like China, India, and Indonesia leading in production due to the abundant availability of rattan. The material's natural water resistance and durability make it an ideal choice for various applications, including furniture, shelter, and handicrafts. The economic viability of rattan cultivation also plays a crucial role in poverty alleviation in rural areas, further boosting its demand. The market's expansion is supported by the export of affordable rattan products to Western countries, where demand continues to rise. However, the market faces challenges from stringent regulations concerning the use of toxic chemicals in processing rattan products, which could impact supply and cost.
The COVID-19 pandemic significantly disrupted the Rattan Furniture Market, affecting manufacturing, logistics, and sales, particularly in outdoor furniture segments. The shift towards indoor lifestyles during lockdowns led to a decline in revenue from commercial end-users such as restaurants and lounges, while residential demand increased due to the work-from-home culture. Despite these challenges, the market has rebounded as global construction activities resumed and markets reopened. The competitive landscape is characterized by a mix of established brands and numerous unorganized players, with international companies like Sutraa, The Keter, and Tuuci leading the market. Strategic partnerships and product innovations, such as those by Tuuci, continue to drive market growth, ensuring a diverse range of offerings to meet evolving consumer preferences.
Rattan Furniture Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Demand for Eco-friendly and Sustainable Furniture Options
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1.2.2 Increasing Popularity of Outdoor Living Spaces
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1.3 Market Restraints
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1.3.1 Damage from Harsh Weather Conditions
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1.4 Market Opportunities
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1.4.1 Rising Demand for Natural and Organic Interior Design Elements
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1.5 Value Chain Analysis
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1.6 Porter's Five Forces Analysis
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1.6.1 Bargaining Power of Suppliers
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1.6.2 Bargaining Power of Buyers
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1.6.3 Threat of New Entrants
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1.6.4 Threat of Substitutes
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1.6.5 Intensity of Competitive Rivalry
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1.7 Insights on Consumer Buying Behavior Analysis
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1.8 Impact of Covid-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Table
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2.1.2 Chairs
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2.1.3 Storage
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2.1.4 Beds
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2.1.5 Other Types
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2.2 By Application
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2.2.1 Residential
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2.2.2 Commercial
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2.3 By Distribution Channel
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2.3.1 Multi-brand Stores
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2.3.2 Exclusive Stores
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2.3.3 Online
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2.3.4 Other Distribution Channel
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2.4 By Geography
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2.4.1 North America
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2.4.2 Europe
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2.4.3 Asia-Pacific
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2.4.4 Latin America
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2.4.5 Middle- East and Africa
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Rattan Furniture Market Size FAQs
How big is the Rattan Furniture Market?
The Rattan Furniture Market size is expected to reach USD 0.91 billion in 2024 and grow at a CAGR of greater than 5% to reach USD 1.05 billion by 2029.
What is the current Rattan Furniture Market size?
In 2024, the Rattan Furniture Market size is expected to reach USD 0.91 billion.