The outdoor furniture market will reach a market value of 27 USD
New York, June 22, 2021 (GLOBE NEWSWIRE) – Outdoor furniture market Overview: According to a comprehensive research report from Market Research Future (MRFR), “Outdoor furniture market Research report, by material, product type, end user and region – Forecast to 2027 ” is expected to reach a market value of USD 27 billion by 2027, registering a CAGR of 5.7% during the forecast period (2020-2027).
Outdoor Furniture Market Analysis / Outdoor Furniture Market Outlook
According to the MRFR report, there are many factors that are propelling the global outdoor furniture market share. Some of them involve increasing consumer spending, increasing travel trends, increasing the number of hotels and restaurants, increasing the financial ability to spend on leisure activities , the rise of the home improvement industry, the growing need for balcony furniture, the rise of the real estate industry, the rapid urbanization and the increasing urban population of emerging countries which largely influence the way of life . Additional factors fueling the value of the global outdoor furniture market include a modern lifestyle, rapid socialization trends such as social gatherings, alfresco dining in gardens, barbecues and grilling in the garden. backyard, the increase of the tourism industry and the trend of manufacturers to comfortable garden furniture from aluminum chairs. The growing preference for aesthetic furniture and the increasing use of versatile outdoor furniture are the latest trends in the outdoor furniture market.
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Key Players Presented In The Global Outdoor Furniture Market Report Include-
- Kimball International Inc. (United States)
- Agio International Company LTD (United States)
- Century Furniture LLC (United States)
- Inter IKEA Systems BV (The Netherlands)
- and Brown Jordan International (United States)
The COVID-19 pandemic has negatively impacted industries and economies in different countries due to business closures, travel bans and government imposed lockdowns. The consumer goods sector is one of the hardest hit as it has suffered severe disruption such as office closures, cancellations of tech events and supply chain disruptions. The closure of various factories and factories has restricted the global supply chain and adversely affected the manufacturing activities, sales and delivery schedules of outdoor furniture. In addition, various companies have predicted possible delays in deliveries of furniture and a drop in future sales. In addition, travel bans in North America, Asia and Europe have hampered partnership opportunities and business collaborations. All of these have hampered the activities of the consumer goods industry which has limited the growth of the outdoor furniture market.
Browse the In-Depth (111 Pages) Outdoor Furniture Market Research Report
The MRFR report highlights an inclusive analysis of the global outdoor furniture industry based on end user, product type, and material.
By material, the global outdoor furniture market is segmented into textile, wood, plastic, metal and others. Among these, the wood materials segment will dominate the market during the forecast period with high CAGR for its alluring characteristics such as elegant and luxurious appearance, superior comfort and durability.
By product type, the global outdoor furniture market is segmented into dining sets, seating sets, tables, chairs, and others. Among these, the seating assembly product types segment will dominate the market during the forecast period for its need in residential and commercial spaces such as hotels, resorts and restaurants.
By end user, the global outdoor furniture market is segmented into commercial and residential. Among these, the residential end user segment will be the market spearhead during the forecast period.
North America, the spearhead of the outdoor furniture market
Geographically, the global outdoor furniture market is divided into Europe, North America, South America, Asia Pacific, Middle East & Africa (MEA). Among these, North America will be the market spearhead during the forecast period. The region being the first consumer of outdoor furniture, the presence of several leading companies, the willingness of consumers to invest in the product, the expansion of several sectors such as open restaurants, recreational sports areas, public gardens and hospitality, the growing emphasis on investments in the real estate and construction sectors, rapid growth of economies, increasing urbanization, increasing income levels, l he increase in overseas travel and expansion of the hospitality industry add to the growth of the global outdoor furniture market in the region.
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APAC to see promising growth in the outdoor furniture market
In APAC region, the global outdoor furniture market is expected to witness promising growth during the forecast period. The presence of developing countries – India and China, increased tourism to Thailand, Malaysia and Singapore, major manufacturers offering their services to China and India, manufacturers focusing on hotels and resorts due to profitability more high of these sectors, and Dubai, Indonesia, Thailand, Malaysia and Singapore, offering several growth opportunities due to economic tourism and potential locations from the tourism point of view, add to the growth of the global furniture market. outdoors in the area.
In Europe, the global outdoor furniture market is expected to witness admirable growth during the forecast period.
In South America, the global outdoor furniture market is expected to experience steady growth during the forecast period.
In MEA, the global outdoor furniture market is expected to witness solid growth during the forecast period.
The global outdoor furniture market is fragmented and competitive due to the presence of several international and domestic players in the industry. These players have encompassed a range of strategies to stay ahead of the curve and also meet the growing needs of consumers, including partnerships, collaborations, contracts, partnerships, launches, geographic expansions, joint ventures and launches. new products, etc. In addition, they are also investing heavily in R&D to strengthen their portfolios and also create a hold on the market.
May 2021- Very Good & Proper, a British furniture brand made its debut in outdoor furniture. This new line of sustainable outdoor furniture is ready for summer. They have combined sustainable materials with a minimal design, ideal for any outdoor space, from urban balconies to leafy gardens.
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