Overview and Scope
Outdoor furniture refers to furnishings explicitly designed for exterior spaces such as gardens, patios, decks, and other outdoor areas. These pieces of furniture are typically constructed using materials that can withstand exposure to various weather conditions, including rain, sunlight, and temperature fluctuations.
Sizing and Forecast
The outdoor furniture market size has grown strongly in recent years. It will grow from $31.54 billion in 2023 to $33.51 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to increased outdoor living spaces, economic growth, changing lifestyles, rise in home improvement projects, increasing awareness of outdoor comfort.
The outdoor furniture market size is expected to see strong growth in the next few years. It will grow to $43.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to rising disposable incomes, urbanization trends, innovative design solutions, growing outdoor living trends, advancements in design. Major trends in the forecast period include luxurious textiles, sustainable materials, technological advancements, customization, innovative designs.
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Segmentation & Regional Insights
The outdoor furniture market covered in this report is segmented –
1) By Product: Seating Sets, Loungers, Dining Sets, Chairs, Table, Other Products
2) By Material Type: Wood, Metal, Plastic, Others Material Types
3) By End-User: Residential, Commercial
North America was the largest region in the outdoor furniture market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the outdoor furniture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing focus on home renovation is expected to propel the growth of the outdoor furniture market going forward. Home renovation refers to improving, remodeling, or updating an existing residential property to enhance its functionality, aesthetics, or value. The focus on home renovation arises because of personalization, property value, functionality, sustainability, lifestyle changes, and housing stock conditions. Outdoor furniture is commonly used in home renovation projects to enhance and extend outdoor living spaces, providing homeowners with functional and comfortable areas for relaxation, dining, and entertaining. For instance, in January 2023, according to the Joint Center for Housing Centers of Harvard University, a US-based university research center, the expenditure on home improvement projects is expected to increase from $472 billion in 2022 to $485 billion in 2024. Therefore, the increasing focus on home renovation is driving the growth of the outdoor furniture market.
Key Industry Players
Major companies operating in the outdoor furniture market are The Home Depot Inc., Steelcase Inc, Woodard LLC, La-Z-Boy Inc, Skyline Design, Keter Plastic Ltd, Haworth Inc., Trex Company, Kimball International Inc., Century Furniture LLC, Dedon GmbH, Brown Jordan International, Tropitone Furniture Co., Summer Classics, Ebel Inc., Tuuci, Winston Furniture Company, Hauser Industries, Alfresco Home, Castelle Furniture Co Inc., Lloyd Flanders, Fermob, Sun Garden GmbH, EMU Group, Sifas
The outdoor furniture market report table of contents includes:
1. Executive Summary
2. Outdoor Furniture Market Characteristics
3. Outdoor Furniture Market Trends And Strategies
4. Outdoor Furniture Market – Macro Economic Scenario
5. Global Outdoor Furniture Market Size and Growth
…..
32. Global Outdoor Furniture Market Competitive Benchmarking
33. Global Outdoor Furniture Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Outdoor Furniture Market
35. Outdoor Furniture Market Future Outlook and Potential Analysis
36. Appendix
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