Outdoor furniture market worth USD 29.3 billion by 2030
New York, U.S., May 16, 2022 (GLOBE NEWSWIRE) — outdoor furniture market Insight:
According to a comprehensive research report by Market Research Future (MRFR), “outdoor furniture market Information by Material, Product Type, End User and Region – Forecast to 2030“, the market is expected to grow at a CAGR of 6% CAGR to reach $29.3 billion by 2030.
Outdoor furniture options have a sophisticated and fashionable appeal. Apart from this, wooden furniture has many additional benefits such as durability and improved comfort. Market players are also improving them by applying technologies that improve the attractiveness of products. Companies are developing smart mattresses and tables with built-in TVs and music systems in our modern age. In order to attract buyers, different types of designs are carved on these pieces of furniture.
The main players in the outdoor furniture market are:
- AGIO International Company, LTD
- Brown Jordan International
- Century Furniture LLC
- Inter IKEA Systems B.V.
- Kimball International, Inc.
- EMU SPA Group
- DEDON, The Home Depot, Inc.
- Haworth, Inc.
- UNOPIU, Hartman United Kingdom
- GARDEN PLEASURE, Ltd.
- Royal Botania S.A.
- ZUO Modern
- Outdoor reception
- Rattan Labyrinth Wholesale Garden Furniture
- AGIO International Company Limited.
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Covered USP market:
In recent years, the outdoor furniture market has seen a significant increase in demand. The purchasing power of consumers increases in the market. Consumers’ attention is shifting to improving outdoor spaces, such as balconies, gardens, and porches, to create more comfortable and attractive designs, resulting in an increase in the market. Consumers are willing to spend their spare cash to improve aesthetics and increase product diversity, especially in the design and manufacture of outdoor furniture products. The demand for outdoor furniture is directly influenced by the changing weather conditions in different countries. Rising demand for do-it-yourself (DIY) and ready-to-assemble (RTA) furniture is also supporting the growth of the market, especially in home and office furniture categories, leading to increased global sales.
Customers’ ability to spend on overseas travel is also contributing to the growth of the global market. The growing demand for international travel is driven by an increase in the number of people interested in doing so. Tourist destinations are the main places where these variables can be observed. Sights, such as Gill Stations, are also in high demand. For comfort and convenience, this is driving the demand for hotels, public gardens, open spaces and resorts. To attract potential consumers and propel themselves into the global tourism industry, hotels and restaurants demand the best type of outdoor furniture. By the end of the global forecast period, this increasing demand will have contributed to the growth of the outdoor furniture market. Besides tourist activity, many homeowners want to enhance their gardens and balconies by adding attractive seating areas.
Most outdoor furniture is expensive and not all customers can afford it. Excellent quality comes with a high price that not everyone can afford. This pricing is therefore an aspect that can hinder the expansion of the market. Moreover, meeting the exact requirements of customers is a big concern that gamers are always working on. Another issue that may limit the growth of the outdoor furniture industry is customer satisfaction with perfection.
Browse the in-depth market research report (111 pages) on outdoor furniture: https://www.marketresearchfuture.com/reports/outdoor-furniture-market-2077
The sudden COVID-19 pandemic, which hit the world in the early days of 2020, has drastically changed the outdoor furniture industry. The supply chain disruptions and temporary trade ban have had a significant impact on countries that rely heavily on imports for their furniture needs. With the increase in time spent at home due to the pandemic, around 58% of the global population has been forced to adapt to a longer stay-at-home routine, motivating customers to optimize their homes and furniture. COVID-19 has also highlighted the importance of minimizing import dependency and improving industry automation and digitization.
Outdoor Furniture Market Segmentation:
Metal, plastic, wood, fabric and other materials have been used to segment the market.
The market has been divided into chairs, tables, seating sets, dining sets, and others based on product category.
The market has been divided into residential and commercial segments based on the end user.
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Outdoor Furniture Market Region Analysis:
The outdoor furniture market is incredibly active in six key international regions: Europe, Asia-Pacific, Africa, North America, Middle East and South America.
During the forecast period, the North American region is expected to increase significantly. The cause for this is due to the dense population of the city and the increased demand for high-end items. Regional dominance is supported by the rise of the hotel industry, as well as the growing tendency of people to replace their basic furniture with furniture with multi-functional features. Market prospects are supported by the development of offices with gardens and the expansion of leisure centres.
Due to favorable climatic conditions for timber development, Europe will be the second largest market throughout the forecast period. Another factor driving the expansion of the outdoor furniture industry is the availability of processed woods, especially in Thailand, Mexico and Singapore. Moreover, countries like India and China, where tourism activities are increasing rapidly, will be the most demanding countries in this market, leading to its large-scale expansion.
The need for outdoor furniture is increasing dramatically across Asia Pacific which will propel the regional market forward. Additionally, the growing number of stadiums and cumulative government investment in public gardens and parks are boosting regional industry. The growing demand for balcony furniture, fueled by a booming real estate market, will influence business growth.
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