Global analysis, highlights recent trends and predictions to 2027
Outdoor furniture market from metal segment is expected to record a lucrative CAGR of 4.9% through 2027. The increasing application of stainless steel, galvanized steel, aluminum, and various other metals for designing outdoor furniture is opening new growth opportunities for the market. This can be ascribed to the higher compatibility of metals with gardens and lawns owing to their anti-rust coating and varnishing. Speaking of aluminum, it is a lightweight metal that is widely used for making garden furniture due to light shade benefits.
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The growing building & construction activities across the globe, coupled with the increasing interest of consumers in enhancing the home aesthetics, has created significant demand for outdoor furnishings. The rising number of residential buildings, as well as gardens and lawns, are further driving the product demand, which is accelerating the expansion of global outdoor furniture market.
The growing consumer expenditure, in conjunction with the rising disposable incomes, is strongly supporting the industry growth through increased adoption of garden furniture. It would be essential to note that the Scandinavian and European designs and styles of outdoor furniture are gaining enormous popularity. The growing proclivity towards the style and regular upgrades in outdoor hotels and restaurants is further enhancing the market trends. outdoor furniture market size is projected to surpass USD 23.8 billion by 2027.
The increasing residential construction activities across the globe, especially in the U.S. and Asia Pacific countries, have positively influenced the adoption of outdoor furniture. The ongoing efforts to create open public spaces are further driving the product demand. This has urged the industry players to develop outdoor furniture with innovative materials such as metal-wood, aluminum, plastic-metal combinations, and wicker-plastic to enhance the furniture quality. With the rising consumer demand, residential segment is projected to account for about 55% of market share by 2027.
Amid the growing demand for outdoor furniture, various prominent companies are focusing on new product developments and forming strategic alliances to gain a competitive edge in the market. To illustrate, in 2021, eminent furniture store West Elm and outdoor retailer REI jointly launched a limited-edition range of outdoor essentials consisting of a foldable rope chair, bamboo cutting board, and insulated picnic tote.
The rising demand for garden and patio furniture in various European countries including Germany, the UK, Italy, France, and Spain is strongly driving the growth of outdoor furniture market. According to a recent report by the UK’s Office for National Statistics, consumer expenditure on garden furniture in the country significantly increased in March 2021. This is majorly due to the gradual lifting of lockdown restrictions in the UK and increasing outdoor social gatherings. On account of the elevating demand, Europe outdoor furniture industry had captured 30% share in 2020 and is expected to grow exponentially over the coming years.
The increasing construction of residential and commercial spaces coupled with the development of lawns and gardens has led to the significant adoption of outdoor furniture. Besides, adoption of innovative materials and introduction of new designs by various business players is expediting the growth of outdoor furniture market.
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Some Point from Table of Contents:
Chapter 5 Outdoor Furniture Market, By Product
5.1 Global outdoor furniture industry share by product, 2020 & 2027
5.2.1 Market estimates and forecast, 2017 - 2027
5.2.2 Market estimates and forecast, by region, 2017 - 2027
5.3.1 Market estimates and forecast, 2017 - 2027
5.3.2 Market estimates and forecast, by region, 2017 – 2027
5.4 Seating sets
5.4.1 Market estimates and forecast, 2017 - 2027
5.4.2 Market estimates and forecast, by region, 2017 - 2027
5.5 Dining sets
5.5.1 Market estimates and forecast, 2017 - 2027
5.5.2 Market estimates and forecast, by region, 2017 - 2027
5.6 Loungers & daybeds
5.6.1 Market estimates and forecast, 2017 - 2027
5.6.2 Market estimates and forecast, by region, 2017 – 2027
5.7.1 Market estimates and forecast, 2017 - 2027
5.7.2 Market estimates and forecast, by region, 2017 - 2027
Chapter 6 Outdoor Furniture Market, By End-User
6.1 Global outdoor furniture industry share by end-user, 2020 & 2027
6.2.1 Market estimates and forecast, 2017 - 2027
6.2.2 Market estimates and forecast, by region, 2017 – 2027
6.3.1 Market estimates and forecast, 2017 - 2027
6.3.2 Market estimates and forecast, by region, 2017 – 2027
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