LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global restaurant furniture market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global restaurant furniture market includes home and office furniture. Growing population and booming real estate industry are the key market drivers. The demand for premium and innovative furniture is on the rise. The key competitors are coming up with different product ranges to cater to the specific needs of the customers. APAC dominated the global furniture market in 2016, followed by the Americas in the same year.
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The top three emerging trends driving the global restaurant furniture market according to Technavio consumer and retail research analysts are:
- Increasing demand for patio furniture
- Greater use of eco-friendly furniture
- Customization of restaurant furniture
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Increasing demand for patio furniture
“Patio furniture, also known as outdoor furniture, is a type of furniture specifically designed for outdoor usage. It is made of weather-resistant materials such as aluminum and wrought iron that do not rust. Garden furniture or outdoor furniture comprises a patio set consisting of a table, chairs, and a parasol. Parasols are generally movable around outdoor tables and are centered through a mid-table hole,” says Tamal Saha, a lead analyst at Technavio for research on retail goods and services.
The most commonly sold types of patio sets are made of wood, aluminum, plastic, wicker, and wrought iron. Patio furniture brings comfort and function to outdoor spaces. Vendors like Inter IKEA Systems, Forever Patio, and Brown Jordan provide creative patio dining tables, patio dining sets, patio dining chairs, patio bar stools, patio sofas and chaises, and Adirondack chairs. With the rising number of restaurants and hotels and an increase in millennial population and pub culture, the demand for patio furniture will increase.
Greater use of eco-friendly furniture
“The awareness of eco-friendly and green furniture, especially in the Americas and Europe, has increased. It is also being witnessed among the consumers of developing countries such as China. Consumers are currently showing more preference toward eco-friendly restaurant furniture such as those made of Moso bamboo, which is harder and more durable than other materials,” adds Tamal.
Eco-friendly furniture had always been available but is rapidly becoming mainstream. Environmental concerns such as the awareness of the effect of deforestation on ecosystems and the consequences of climate change have led the key vendors to go green. Vendors are offering a wide range of aesthetically designed and quality furniture made from eco-friendly materials.
Customization of restaurant furniture
The major players in the market such as Home Depot and Lowe’s are putting in efforts to customize their furniture by making use of consumer interaction platforms. Retailers in the market such as Campaign and Inter IKEA Systems have introduced furniture with design solutions that make RTA products a more attractive proposition for buyers.
The RTA segment offers products in both affordable and luxury furniture categories. Customers can also order restaurant furniture according to their choice. Theme-based restaurants are driving the need for customized furniture. IKEA has come up with an assembly service for customers to add a personal touch to the fittings through customization. This enables customers to suggest modifications in the furniture bought by them.
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