TEAK FURNITURE MARKET ANALYSIS
Factors driving of growth of teak furniture market
Growth in disposable income of the people and recovery of the residential housing sector are the major driving factors for growth of teak furniture market. The overall demand for furniture has increased among urban households, as people in urban areas furnish their homes to increase comfort. For instance, disposable personal income in Thailand increased to US$ 586,575.6 million in 2017 from US$ 253,848.24 million in 2016.
In commercial segment, teak furniture market has applications in hotels, resorts, etc. Usage of teak furniture is increasing in the commercial sector, as the demand for aesthetically appealing and quality furniture is increasing in commercial spaces. This is expected to drive growth of the commercial segment in the market, registering a CAGR of 6.2% over the forecast period.
However, price of teak wood furniture is high as compared to the price of plywood. This is expected to be the major factor restraining the market growth.
Need a Custom Report?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports
Customize Now
Credibility and Certifications
9001:2015
27001:2022
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients
U.S.: 
U.K. : 
India :