January 06, 2023 07:54 ET | Source: Zion Market Research Zion Market Research

Houston, TX, Jan. 06, 2023 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Outdoor Furniture Market- By Product (Chairs & Tables And Seating Sets, Dining Sets, And Loungers & Daybeds), By Material (Metal, Plastic, Textile, And Wood), By End-User (Residential, Commercial, And Industrial), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2021 – 2028” in its research database. Garden Arbor

“According to the latest research study, the demand of global Outdoor Furniture Market size & share in terms of revenue was valued at USD 15.3 billion in 2020 and it is expected to surpass around USD 25.1 billion mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 6.1% during the forecast period 2021 to 2028.”

What is Outdoor Furniture? How big is the Outdoor Furniture Industry?

Outdoor Furniture Report Coverage & Overview:

The outdoor furniture market includes a wide range of products, such as patio furniture, garden furniture, and outdoor furniture sets. These products can be made from various materials, including wood, metal, plastic, and wicker. In recent years, there has been a growing trend towards sustainable materials, such as recycled plastic and wood alternatives, in the outdoor furniture market. The market is driven by a variety of factors, including increasing disposable incomes, a desire for outdoor living spaces, and a trend towards outdoor entertaining. The market is expected to continue to grow in the coming years, with a focus on innovative designs and sustainable materials.

Moreover, thriving real estate sector and rise in urban population will contribute majorly towards growth of outdoor furniture market in forecasting timespan. Apparently, rise in purchasing capacity of individuals has translated into humungous surge in outdoor furniture market revenue. Additionally, rise in travelling & tourism activities will define massive growth of outdoor furniture industry. Citing an instance, large-scale tourist visits to hill stations resulting in elongated stay at hill resorts and visit to monumental sites has assisted in manifold demand for outdoor furniture. Moreover, historical site visits has enlarged growth of outdoor furniture market.

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Global Outdoor Furniture Market: Growth Dynamics

Growing Demand For Enhancing Aesthetic Value Of Home Decorations To Drive Market Trends

Expansion of outdoor furniture market over forecast timeline is owing to escalating tilt towards enhancing aesthetic sense of rooms in households during festivals and other ceremonies such as marriage ceremonies or religious events. In addition to this, end-users are willing to pay more for different designs of outdoor furniture and this will transmute into massive surge in outdoor furniture market earnings in next few years. Lifestyles as well as fashion trends across the globe are changing rapidly and this will tremendously impact growth of outdoor furniture industry in foreseeable future.

The domestic, industrial, and commercial spheres are just some of the settings in which outdoor furniture can be used. Additionally, a growing customer inclination toward boosting the visual appeal of outdoor environments will assist improvements in the design and production of furniture that is intended for use outdoors. It would appear that a large increase in demand for furniture (with innovative features) in gardens and balconies will lead to an expansion of the market. The different seasonal cycles that occur in different countries can have a direct influence on the types of raw materials that are used in the production of outdoor furniture. In addition, "patio furniture" is another name for outdoor furniture, which refers to pieces of furniture designed specifically for use outdoors and constructed from materials that are resistant to the elements. In addition to this, the furniture is used for the purpose of boosting comfort, particularly for elderly people.

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Outdoor Furniture Market: Segmentation Analysis

The outdoor furniture market can be segmented based on product type, material, distribution channel, and region.

Based on product type, the market can be segmented into patio furniture, garden furniture, and outdoor furniture sets. Patio furniture includes products such as tables, chairs, and sofas, while garden furniture includes products such as benches, gazebos, and swings. Outdoor furniture sets include a combination of these products and are often sold as a complete package.

Based on material, the market can be segmented into wood, metal, plastic, and wicker. Wood is a traditional material that is popular for its natural aesthetic, but it requires regular maintenance and is vulnerable to weathering. Metal is durable and weather-resistant, but it can be cold to the touch and may not be as comfortable as other materials. Plastic is low maintenance and affordable, but it may not be as durable or aesthetically pleasing as other materials. Wicker is made from natural materials, such as rattan or bamboo, and is popular for its texture and lightweight design.

Based on distribution channel, the market can be segmented into online and offline. Online channels include e-commerce websites and direct-to-consumer sales, while offline channels include brick-and-mortar stores and specialty retailers.

Based on region, the market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Each region has its own unique market dynamics, such as different consumer preferences and economic conditions, which can impact the demand for outdoor furniture.

The global Outdoor Furniture market is segmented as follows:

Browse the full “Outdoor Furniture Market- By Product (Chairs & Tables And Seating Sets, Dining Sets, And Loungers & Daybeds), By Material (Metal, Plastic, Textile, And Wood), By End-User (Residential, Commercial, And Industrial), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2021 – 2028” Report at https://www.zionmarketresearch.com/report/outdoor-furniture-market

Some of the main competitors dominating the global Outdoor Furniture market include - 

Key Insights from Primary Research:

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North American Market Growth To Expedite Geometrically Over 2021- 2028

Expansion of outdoor furniture market in North America over forecast timeframe is owing to presence of major furniture producers such as Forever Patio and Brown Jordan in countries like the U.S. In addition to this, consumer willingness to spend more on premium furniture products will drive regional market growth over forecast timeframe. Apparently, growing outing activities and rise in travel to beach resorts in Canada and the U.S. will prompt business trends in North America.

There have been a number of recent developments in the outdoor furniture market. One trend that has emerged is the increasing use of sustainable materials, such as recycled plastic and wood alternatives. This is driven by a growing awareness of environmental issues and a desire to reduce the impact of furniture production on the planet.

Another recent development is the rise of online retail, which has made it easier for consumers to purchase outdoor furniture and has led to increased competition among retailers. This has resulted in a wider range of products being available at more competitive prices.

In addition, there has been a trend towards innovative designs and functionality in outdoor furniture. This includes the use of technology, such as built-in charging stations and weather-resistant materials, to make outdoor furniture more convenient and practical for everyday use.

Overall, the outdoor furniture market is expected to continue to grow and evolve in the coming years, with a focus on sustainability and innovation.

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