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 |
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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.
