The Asia Pacific Plastic Furniture Market would witness market growth of 10% CAGR during the forecast period (2021-2027). The development of the plastic market is boosted by the aspects like affordability, durability, weight or minimum or no maintenance, resistant to corrosion, eco-friendly or flexibility, weather resistance, and the effect of termites.
The factors that are instrumental to the growth of the global plastic furniture market are the increasing real estate industry and the hospitality sector due to the approval of various developmental projects by governments of numerous countries around the world. The demand for adaptable, multi-functional, durable, and light-weight furniture provides high portability regarding application in the smaller to bigger spaces, which would accelerate the adoption & growth of plastic furniture around the world.
Moreover, the weight of plastic furniture is relatively lesser as compared to wood and metal furniture. It can be easily shifted from one area to another, thereby encouraging customers to purchase this type of furniture. Therefore, there is less hassle in managing plastic furniture, therefore making it more convenient for the customers who are indulged in hectic work schedules.
Various leading countries of the Asia-pacific region such as India, China, and Japan, people prefer to give a beautiful touch to their residence by including plastic furniture. Plastic furniture decorates the house with elegance, thus adding beauty to the homes. Almost every country of APAC is witnessing an exponential surge in population growth. The booming population is increasing the poverty and space problems in these countries. Therefore, many families are opting for plastic furniture as it is highly affordable and requires less amount of space as compared to wood and metal furniture.
Plastic, unlike others, is not affected by sunlight or rain. As plastic furniture is available in a broad range of colors, one can easily choose the furniture color as per the theme of the home. The consumers in this region always look for affordable solutions that can be used for the long term. Hence, plastic furniture is an ideal choice for them, hence boosting the growth of the regional plastic furniture market.
The China market dominated the Asia Pacific Modern Trade Market by Country 2020, thereby, achieving a market value of $511.1 million by 2027. The Japan market is showcasing a CAGR of 10.4% during (2021 - 2027). Additionally, The India market is anticipated to grow at a CAGR of 10.4% during (2021 - 2027).
Based on Type, the market is segmented into Kitchen Furniture, Living and Dining Room Furniture, Outdoor Furniture and Bathroom Furniture. Based on End User, the market is segmented into Commercial and Residential. Based on Distribution Channel, the market is segmented into Specialty Stores, Modern Trade, E-commerce and Direct-to-customers. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Plastic Furniture Market is Projected to reach USD 19.7 Billion by 2027, at a CAGR of 8.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cello Group, Avon Furniture Factory L.L.C, Cosmoplast Industrial Company L.L.C. (Harwal Ltd.), Keter Group B.V. (BC Partners), Nilkamal Limited, Pil Italica Lifestyle Limited (Dawood Investment Private Limited), ScanCom International A/S (Jysk A/S), The Supreme Industries Ltd., Tramontina Multi S. A., and Uma Plastics Limited.
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