Rattan Furniture - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Rattan Furniture - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

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 Market Trends

China Witnessing the Growing Rattan Furniture Market

China, the largest producer of rattan products, followed by Indonesia, has five types of Rattan wood production, resulting in a wide variety of outdoor rattan furniture. Other largest sources are the Philippines, Vietnam, and Singapore, making the market focused mainly on the Asia Pacific. Authentic Rattan furniture at lower prices is being exported to Western countries and other countries globally, leading to the rattan Furniture Market growing.

Outdoor Rattan Furniture is Driving the Market

The restaurants, lounges, and offices remained closed due to the lockdown during COVID-19. It led to the impact of the outdoor furniture products of Rattan Furniture. The outdoor category furniture's need for Rattan furniture has been hit severely because of the coronavirus pandemic inducing indoor lifestyles. The revenue from commercial end-users such as lounges, restaurants, and Picnic spots has fallen drastically in revenue generation for the Rattan furniture market. In contrast, the Residential end-users have increased the need for it because of WFH culture.

Rattan Furniture Industry Overview

The Rattan Furniture Market is highly competitive and fragmented because of highly experienced and famous brands from India, China, Japan, and other regions of Asia-Pacific which keep on introducing Rattan Furniture products as it's found mainly in Asian countries, giving authenticity of Asia-Pacific with a large number of unorganized players dominating the market. Leading local and foreign players are present in each price range globally. International chains and brands such as Sutraa, The Keter, and Tuuci are famous and leading the market. Other brands, such as Ashley, Vermont, and Vixen Hill, have focused on innovating modern and contemporary designs for the Rattan Furniture Market for a long time—international tie-ups with furniture makers in the consumer countries to promote rattan products.

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