Outdoor Furniture Market will achieve USD 28.05 billion by
Pune India, Feb. 02, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the outdoor furniture market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the outdoor furniture market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as material, type, distribution channel, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global outdoor furniture market are Ashley Furniture Industries, Barbeques Galore, Herman Miller, Inc., Agio International Company, Kimball International, Aura Global Furniture, Keter Group, Alfresco Home LLC, Outdoor India, Homecrest, La-Z-Boy Incorporated, Hartman UK, Brown Jordan Company, Plaisir du Jardin among others. To achieve a substantial market share in the worldwide outdoor furniture market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Outdoor furniture is specifically designed for outdoor use, making them weather-resistant by using materials like aluminum that is rustproof and corrosion-resistant. Materials used to create this furniture vary by region and price. Furniture for outdoor use is constructed from weather-resistant materials to prevent the material from getting corroded. Outdoor furniture includes chairs, seating sets, tables, dining sets, loungers and daybeds. The main purpose of outdoor furniture is to provide a comfortable and suitable décor environment. Because manufacturers cater to customer demands, they are designing outdoor furniture that resists decay, termites, and acids. Because of the high level of natural oils in the wood, unwanted insects and moisture are not able to damage the timber’s integrity. Manufacturers use teak wood for outdoor furniture, which requires very little maintenance even if left uncovered.With rising disposable incomes, the consumer demand for outdoor furniture is on the rise. A number of homeowners are enhancing their gardens and balconies with delightful seating areas. Furthermore, the selection of furniture is heavily influenced by external climate. It is important to choose outdoor furniture that is weather-resistant, insect-resistant, tensile strong, and crack-proof. There are some factors which are hampering the growth of the market such as lack of skilled labour and high cost of outdoor furniture.
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Scope of Outdoor Furniture Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Material, Type, Distribution Channel, and Regions.
|
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Ashley Furniture Industries, Barbeques Galore, Herman Miller, Inc., Agio International Company, Kimball International, Aura Global Furniture, Keter Group, Alfresco Home LLC, Outdoor India, Homecrest, La-Z-Boy Incorporated, Hartman UK, Brown Jordan Company, Plaisir du Jardin among others |
Segmentation Analysis
Wood is expected to be the fastest-growing segment in 2022.
The material segment includes wood, plastic, and metal. The wood segment is expected to witness the highest growth rate during the forecast period. In the forecast period, wood furniture will continue to dominate the market due to its robustness, increased comfort, and aesthetic appeal. A wooden outdoor furniture is a lightweight, strong, and natural material for making outdoor furniture, making it the ideal material for outdoor furniture manufacturing. Wood is among the most widely used raw materials for furniture manufacturing worldwide.
Tables are expected to be the fastest-growing segment in 2022.
The type segment includes dining sets, chairs, tables and others. The tables segment is expected to witness the highest growth rate during the forecast period. As remote working conditions become more prevalent, the demand for tables across households increases, which will cause the tables segment to grow and hold a dominant share in the future. This table is available in compact sizes, so users can work from common areas like balconies and terraces. It is portable and spacious enough to load several items for outdoor use.
Residential is expected to be the fastest-growing segment in 2022.
The distribution channel segment includes non-residential and residential. The residential segment is expected to witness the highest growth rate during the forecast period. A number of factors are influencing the residential segment, such as population growth, per capita income growth, westernization, and lifestyle changes. In addition, customer focus is shifting to creating more aesthetically pleasing and comfortable exteriors, contributing significantly to industry growth, as well. A growing number of nations are seeing increases in income levels boost product sales for residential purposes.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the outdoor furniture market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. Increasing numbers of family dinners and gatherings at home have increased the demand for products in North America. In addition to enhancing the aesthetics of homes and entertaining guests, the rise in interest in creating and maintaining front yards and backyard gardens has further supported this trend, is boosting the market growth in the region.
Country Analysis
Germany’s outdoor furniture market size was valued at USD 1.36 billion in 2022 and is expected to reach USD 2.18 billion by 2030, at a CAGR of 6.1{833736ef333566f6502cdebaaa8c1006aee7f6f644158cfddacfa746ee20c4df} from 2023 to 2030.
Increasing demand for residential buildings and strong growth in commercial construction are likely to drive industry revenue. Senior citizens in the country are increasingly demanding high-end outdoor furniture, which is driving the market’s growth.
China’s outdoor furniture market size was valued at USD 1.7 billion in 2022 and is expected to reach USD 2.8 billion by 2030, at a CAGR of 6.5{833736ef333566f6502cdebaaa8c1006aee7f6f644158cfddacfa746ee20c4df} from 2023 to 2030.
As China’s urbanization increases, outdoor leisure spaces and outdoor furniture are becoming increasingly popular, contributing to overall market growth.
India’s outdoor furniture market size was valued at USD 1.38 billion in 2022 and is expected to reach USD 2.26 billion by 2030, at a CAGR of 6.4{833736ef333566f6502cdebaaa8c1006aee7f6f644158cfddacfa746ee20c4df} from 2023 to 2030.
The increasing number of foreign tourists drives the international outdoor furniture market. Further, government-led initiatives to promote open space and investments to modify public spaces, parks, sports arenas, and other areas may contribute to an increase in outdoor furniture demand.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to rapid urbanization, propelling the growth of the market across the countries.
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