TEAK FURNITURE MARKET ANALYSIS
Regional analysis of teak furniture market
On the basis of the region, teak furniture market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Among regions, Asia Pacific region is expected to account for the largest market share over the forecast period. The growth of this region is attributed to increasing demand from residential sectors in countries such as China and India. Consumers are preferring luxurious furniture for their home decor due to rising disposable income. For instance, in China, according to National Bureau of Statistics (NBS), rural and urban disposable income reached US$ 5,658.45 from US$ 2,107.2 in 2018.
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