The outdoor furniture market is expected to be worth $ 23.8 billion by 2027;
Selbyville, Delaware, September 15, 2021 (GLOBE NEWSWIRE) –
The size of the outdoor furniture market is expected to register a valuation of $ 23.8 billion by 2027, according to the most recent study from Global Market Insights Inc. The increase in the use of outdoor furniture in residential buildings will fuel the growth of the industry during the forecast period. In addition, the increasing number of gardens and lawns in the urban area is expected to stimulate demand for the products in the coming years.
The increase in consumer spending on furniture will strongly support demand for outdoor furniture. In Asia Pacific, increased spending on construction and construction due to rising disposable income per capita will drive market growth. The growing need for residential buildings along with the increasing population is estimated to fuel the demand for indoor and outdoor furniture. In addition, the increasing popularity of European and Scandinavian designs and styles of outdoor furniture will proliferate business expansion. The increased emphasis on style over function and regular upgrades in outdoor hotels and restaurants will increase revenue in the outdoor furniture market.
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The metal is expected to grow at a CAGR of 4.9% during the forecast period. Stainless steel, aluminum, galvanized steel, and other metals are commonly used in the manufacture and design of outdoor furniture. The metals are highly compatible for garden and lawns as long as they have an anti-rust coating and varnish. Aluminum is a light metal widely used in garden furniture due to its light shade benefits, propelling its use in the manufacture of various structures.
The lounge chairs and daybeds segment is expected to grow at a CAGR of 6.5% during the forecast period. Sun loungers and daybeds are set up in balconies, gardens, backyards and other outdoor areas. The side chairs and upholstered furniture are filled with comfortable and decorative cushions in different sizes and colors. Commercial use of lounge chairs by pools, cafes, resorts and backyards is driving the expansion of the market.
The residential segment is expected to represent around 55% of outdoor furniture market share in 2027. Strong growth in residential construction activity, particularly in the United States and Asia-Pacific countries, will boost industry demand. In addition, increased initiatives to create open public spaces will further support market growth. Industry players are engaged in the use of innovative materials for the construction of outdoor furniture, including aluminum, metal-wood, wicker-plastic and plastic-metal combinations, helping to increase the quality of the furniture and to improve the quality of the furniture. reduce costs, thereby strengthening the growth of the industry.
Mid-price range outdoor furniture is expected to account for around 75% of the market share by volume by 2027. The availability of a wide range of moderately priced outdoor furniture with good quality and attractive designs is likely to stimulate the adoption of such furniture. This furniture is widely used in residential and commercial sectors such as offices, clubs and gardens. In addition, high-end outdoor furniture is likely to grow significantly due to the increasing demand in developed countries such as USA, Japan, Italy, Germany, Spain, France and Poland.
The European outdoor furniture market accounted for around 30% of the market share in 2020. Strong demand for sun and beach vacations in Europe is expected to drive the adoption of outdoor furniture in the commercial sector. UK, Germany, Italy, Spain and France are significant contributors to the market due to increased demand for garden and patio furniture in these countries.
The growing demand for outdoor furniture with unique designs and structures in residential and commercial buildings will positively contribute to the entire industry. The global outdoor furniture industry includes players such as Century Furniture, Tuuci, Haworth, Inc., Dedon, The Home Depot, Inc., Royal Botania NV, B&B Italia SpA, Hartman UK, Amisco, Ashley Furniture Industries, Herman Miller, Inc., IKEA, Sun Garden GmbH and Knoll, Inc. Limited.
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Some of the key findings of the Outdoor Furniture Market report include:
- Wood will remain the most important material segment over the forecast period and is expected to grow at a CAGR of over 6.5% from 2021 to 2027.
- Dining sets were the largest product segment and generated more than $ 7.6 billion in revenue in 2020.
- Residential buildings will remain the main outdoor furniture end-use industry during the forecast period. Outdoor furniture is widely used in residential buildings such as gardens, patios and porches.
- Mid-price range outdoor furniture accounted for the largest share due to increasing demand for products from urban and rural areas.
- Large multinational companies operating in the industry focus on improving their product offerings, expanding their presence and forming strategic alliances, such as joint ventures, partnerships, acquisitions and collaborations, to hold a market share in the industry.
Partial chapters of the report table of contents:
Chapter 3 Outdoor Furniture Industry Overview
3.1 Industry segmentation
3.2 Industry landscape, 2017 – 2027
3.3 Impact of COVID 19 on the Industry Landscape
3.4 Industry Ecosystem Analysis
3.4.1 Supply chain analysis
3.4.2 Raw material suppliers
22.214.171.124 Impact of COVID-19 on raw material suppliers
126.96.36.199 Raw Material Suppliers by Region
188.8.131.52.1 North America
184.108.40.206.4 Latin America
220.127.116.11.5 Middle East and Africa
3.4.7 Analysis of distribution channels
3.4.8 Profit Margin Trends
3.4.9 Supplier matrix
3.5 Technology and innovation landscape
3.5.1 Computer Aided Design (CAD)
3.5.2 Computer Aided Manufacturing (CAM)
3.5.3 CNC bending and cutting
3.5.4 New materials
3.5.5 Innovation for sustainability
3.5.6 Marketing innovation using technology
3.5.7 Innovation in design and technology
3.6 Regulatory landscape
3.6.1 North America
3.6.4 Latin America
3.6.5 Middle East and Africa
3.7 Wood species used by country
3.8 Manufacturers Analysis of Wooden Outdoor Furniture
3.9 Industry best practices and key purchasing criteria
3.9.1 Regulatory compliance
3.9.2 Product / material efficiency
3.9.3 Manufacturing cost
3.9.4 Technological advances
3.9.5 Analysis of consumer behavior by region
18.104.22.168 North America
22.214.171.124.1 Unmet needs
126.96.36.199.2 Social and cultural impact forces
188.8.131.52.3 Finding information
184.108.40.206.4 Assessment of the alternative
220.127.116.11.5 Purchase decision
18.104.22.168.6 Assessment after purchase
22.214.171.124 Latin America
3.10 Price analysis
3.11 Analysis of the cost structure
3.12 Industry impact forces
3.12.1 Growth engine
126.96.36.199 Rapid expansion of product portfolio and distribution network
188.8.131.52 Socialization accompanied by an increase in consumer spending on leisure and experiences
184.108.40.206 Growth of tourism industry across the world
3.12.2 Pitfalls and challenges of the industry
220.127.116.11 Limited availability of skilled labor to meet fluctuating consumer demand
3.13 Overview of the Global Construction Industry
3.14 Growth potential analysis, 2020
3.15 Competitive landscape
3.15.1 Market Share Analysis, 2020
3.15.2 Key player
3.15.3 Strategy dashboard
3.16 Porter’s analysis
3.16.1 Supplier authority
3.16.2 Purchasing power
3.16.3 Threat of new entrants
3.16.4 Industry Rivalry
3.16.5 Threat of substitutes
3.17 PESTEL analysis
3.18 Impact of COVID-19 on the demand for outdoor furniture
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, USA, is a global provider of market research and consulting services; offering syndicated and personalized research reports as well as growth consulting services. Our business intelligence and industry research reports provide clients with insightful insights and actionable market data specially designed and presented to aid strategic decision making. These comprehensive reports are designed through proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.