MarketResearchNest.com adds “Global Restaurant Furniture Market 2017-2021” new report to its research database. The report spread across 80 pages with table and figures in it.
Research analysts forecast the global restaurant furniture market to grow at a CAGR of 4.72% during the period 2017-2021.
About Restaurant Furniture
Restaurant furniture refers to portable objects like chairs used for seating and tables for keeping food and beverages. It also finds applications in restaurant decoration and aesthetics. Based on end-user, the global restaurant furniture market is segmented into QSRs and FSRs and food courts, cafeterias, and canteens in work places and institutions. The QSRs and FSRs segment accounts for the largest share in the total restaurant furniture market revenue.
Covered in this report
The report covers the present scenario and the growth prospects of the global restaurant furniture market for 2017-2021. To calculate the market size, the report considers the value sales of furniture products.
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The market is divided into the following segments based on geography:
Technavio’s report, Global Restaurant Furniture Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Restaurant Furniture Market 2017-2021
Technavio recognizes the following companies as the key players in the global restaurant furniture market: Inter IKEA Systems, Herman Miller, Homecrest Outdoor Living and Forever Patio
Other Prominent Vendors in the market are: American Signature, Ashley Furniture Industries, Haverty Furniture, Kimball International, MUEBLES PICÓ, Nella Vetrina, Otto (Crate & Barrel), Scavolini, and Steinhoff International
Commenting on the report, an analyst from Research team said: “The latest trend gaining momentum in the market is 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. These materials allow designers to obtain an aesthetic look for their products.”
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According to the report, one of the major drivers for this market is Growing millennial population and pub culture. There has been a constant evolution in restaurant and pub culture, mostly due to the increase in the millennial population who frequently visit such places. Pubs and restaurants cater to changing consumer preferences and lifestyle choices. Millennials are health conscious and interested in gourmet and good quality cuisine and beverages. They prefer going to pubs where the ambiance is unique and has an aesthetic appeal. Most pubs these days are theme based, which attract the millennial generation. The increase in the number of pubs will drive the growth of the restaurant furniture market.
Further, the report states that one of the major factors hindering the growth of this market is Long product replacement cycle. Consumers purchase restaurant furniture usually when setting up a restaurant, cafe, or pub. Nowadays, modern interior design trends play a vital role in the purchase decisions of customers. Most restaurant furnishings, especially restaurant furniture, are meant for long-term use and generally do not require frequent replacement. Also, most restaurant furniture products are expensive and are considered to be a one-time expenditure by consumers. Branded restaurant furniture and furnishing products are durable and of superior quality. Consumers only need to take care of maintenance and cleaning costs over the years, which is very less. As consumers do not buy these frequently, marketers find it difficult to build brand loyalty. This reduces the need for frequent purchase of restaurant furniture, which is one of the major challenges for the restaurant furniture market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Key questions answered in this report: What will the market size be in 2021 and what will the growth rate be; What are the key market trends; What is driving this market; What are the challenges to market growth; Who are the key vendors in this market space; What are the market opportunities and threats faced by the key vendors; What are the strengths and weaknesses of the key vendors;
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Mr. Jeet Jain