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Monday, August 28, 2023

Global Outdoor Furniture Market Size to Grow at a CAGR of 5% Between 2023 and 2028


The ‘Global Outdoor Furniture Market Share, Size, Analysis, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global outdoor furniture market, assessing the market on the basis of its segments like materials, products, end-uses, and major regions.

Outdoor Furniture Market Size, Share, Trends, Industry Report, Key Player, Major Segments and Forecast

The key highlights of the report include:

Market Overview (2018-2028)

• Forecast CAGR (2023-2028): 5%

The flourishing housing development sector and the surging demand for enhanced aesthetics, safety, and comfort in homes are driving the outdoor furniture market growth. The rising renovation activities, especially in the residential sector, owing to surging disposable incomes are also stimulating the demand for outdoor furniture.

The increasing popularity of outdoor spaces like balconies and backyards and the rising development of open spaces in the commercial and residential sectors are bolstering the demand for outdoor furniture. Moreover, the growing trend of health and wellness is significantly increasing the usage of outdoor furniture, such as sofa sets and chairs, among others, to offer relaxation to customers.

There is a rising preference for durable outdoor furniture with a uniform finish, well-fitted and tight joints, and weather-proof properties. With the growing availability of outdoor furniture in diverse sizes, shapes, and materials, its utilisation to enhance the aesthetics of outdoor living spaces is rising.

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Outdoor Furniture Industry Definition and Major Segments

Outdoor furniture, variously known as patio furniture, refers to furniture that is designed for outdoor applications. It is typically made of weather-resistant materials and is durable and aesthetically pleasing. It is available in diverse colours and textures and is used to enhance the comfort and functionality of outdoor spaces.

The market, on the basis of material, is categorised into:

• Wood
• Metal
• Plastic
• Textile
• Others

Based on product, the outdoor furniture market is divided into:

• Chairs
• Table
• Seating Sets
• Dining Sets
• Loungers and Daybeds
• Others

By end-use, the market is segmented into:

• Residential
• Commercial
• Others

The major regional markets of outdoor furniture include:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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Outdoor Furniture Market Trends

Due to the robust growth of the tourism and hospitality sectors, the demand for outdoor furniture, including upholsteries and decorative lounge chairs and tables, in restaurants, hotels, resorts, and lodges, among others, is rising.
With the growing trend of sustainability, the preference for outdoor furniture made up of environmentally friendly, upcycled, natural, and recycled materials is rising. Moreover, manufacturers are launching innovative, personalised, and modern outdoor furniture amid rising construction and renovation activities.

The outdoor furniture market demand is being propelled by the growing trend of front yard decorating, a rising shift to open, clean, and comfortable outdoor working spaces, and the emerging trend of outdoor dining. As customers are seeking enhanced convenience and comfort, the surging preference for modular outdoor furniture for enhanced versatility, functionality, interchangeable components, and diverse seating options is likely to favour the market in the forecast period.

Key Market Players

The major players in the outdoor furniture market report are Ace Hardware Corporation, Century Furniture LLC, Forever Patio, Haworth, Inc., and Nilkamal Furniture, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.

About Us:

Expert Market Research (EMR) is a leading market research company with clients across the globe. Through comprehensive data collection and skillful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

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