USD 45.10 billion
Report ID:
SQMIG30K2024 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
88
|Figures:
76
Outdoor Furniture Market size was valued at USD 47.67 Billion in 2023 and is poised to grow from USD 50.39 Billion in 2024 to USD 78.51 Billion by 2032, growing at a CAGR of 5.70% during the forecast period (2025-2032).
The global industry is experiencing significant growth due to the increasing demand for outdoor furniture products in hotels, resorts, public gardens, and open spaces. This trend is particularly evident in seaside areas, hill stations, scenic beauty locations, and historical monuments. The growing number of hotels and restaurants is expected to drive industry growth during the forecast period.
Moreover, consumers are paying more attention to enhancing outdoor areas by creating more aesthetically pleasing and comfortable designs in balconies, gardens, and porches. This is supporting the development of the industry. Additionally, the demand for outdoor furniture in the residential sector is increasing due to rising disposable income. Homeowners are investing in their gardens and balconies by adding delightful seating areas to improve their appearance.
The selection of outdoor furniture is heavily influenced by external climatic conditions, and good weather resistance, insect resistance, superior tensile strength, and crack-proof properties are among the key factors considered when choosing outdoor furniture.
Furthermore, outdoor dining facilities in restaurants and cafes across the globe are boosting the demand for outdoor furniture in hotels and cafes. For example, a survey conducted by the National Restaurant Association in September 2021 revealed that 65% of the surveyed restaurant operators across the U.S. started offering on-premises outdoor dining in areas such as decks, sidewalks, or patios. This is expected to have a significant impact on the global industry. The online distribution channel is playing an important role in the development of the retail and furniture industries. Online channels offer a diverse range of brands at competitive prices, drawing a larger customer base and stimulating the growth of the industry. With the rapid digitization, increasing mobile usage, and improved internet connectivity, companies are moving from brick-and-mortar transactions to e-commerce portals.
US Outdoor Furniture Market is poised to grow at sustainable CAGR for the next forecast year.
Global Market Size
USD 45.10 billion
Largest Segment
Chairs
Fastest Growth
Chairs
Growth Rate
5.70% CAGR
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The Global Outdoor Furniture market is segmented by packaging type, distribution channel, material, and region. Based on type, the market can be segmented into chairs, and tables. Based on distribution channel, the market is segmented into Offline retail, and Online retail. Based on material, the market is segmented into wood, plastic, and metal. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Outdoor Furniture Market Analysis by Type
By type the market can be segmented into chairs, and tables. Chairs are the dominating segment in the outdoor furniture market. The demand for chairs is high due to their versatility and functionality. Outdoor chairs come in various styles and designs such as lounge chairs, Adirondack chairs, rocking chairs, and dining chairs, catering to the varying needs of customers. Additionally, the increasing trend of outdoor living and dining spaces, particularly in residential settings, has further boosted the demand for outdoor chairs.
Tables are the fastest-growing segment in the outdoor furniture market. The demand for outdoor tables has increased due to the growing trend of outdoor dining and entertainment. Outdoor tables come in various types such as dining tables, coffee tables, side tables, and bar tables, catering to the varying needs of customers. Additionally, the increasing number of restaurants and cafes with outdoor seating areas has further fueled the demand for outdoor tables.
Outdoor Furniture Market Analysis by Distribution Channel
By distribution channel, the market can be segmented into offline retail, and online retail. Offline retail is the dominating segment in the outdoor furniture market. The majority of customers still prefer to purchase outdoor furniture from physical stores, as they can see and test the product before buying. Additionally, offline retail stores offer a more personalized and engaging shopping experience, which is particularly important for high-value products such as outdoor furniture. Moreover, the growing number of home improvement and furnishing stores worldwide has further boosted the demand for outdoor furniture through offline retail.
Online retail is the fastest-growing segment in the outdoor furniture market. The trend of online shopping has grown rapidly over the past few years, and customers are increasingly comfortable with buying outdoor furniture online. Online retail offers convenience, wider product selection, and lower prices compared to physical stores, which has made it a popular choice for customers. Additionally, the COVID-19 pandemic has accelerated the shift towards online shopping, further boosting the demand for outdoor furniture through online retail.
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North America is currently dominating the global outdoor furniture market due to the high demand for outdoor furniture in the United States and Canada. The region's favorable climatic conditions, coupled with the growing trend of outdoor dining, are driving the market's growth. The increasing number of cafes and restaurants offering outdoor dining options is also boosting the demand for outdoor furniture. The presence of major players such as Home Depot, Lowe's, and Walmart is further fueling the growth of the market in the region. The availability of a variety of outdoor furniture products, coupled with the high disposable income of consumers in the region, is driving market growth.
On the other hand, APAC is the fastest-growing region in the outdoor furniture industry, owing to the growing demand for outdoor furniture in countries like China, India, Japan, and South Korea. The region's rapid urbanization and increasing disposable income levels are driving the growth of the market. Additionally, the rising trend of outdoor living and the increasing popularity of garden parties and barbecues are contributing to the growth of the outdoor furniture market in APAC. The increasing number of hotels and resorts, coupled with the high demand for outdoor furniture in these establishments, is further boosting the growth of the market in the region.
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Outdoor Furniture Market Drivers
Growing Demand For Aesthetically Pleasing And Comfortable Outdoor Furniture To Bring Lucrative Growth Opportunities For Players In The Market
Outdoor Furniture Market Restraints
High Cost Of Premium Outdoor Furniture To Hinder Market Growth
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The global outdoor furniture market is highly competitive with the presence of several local and international players. Companies operating in the market are focusing on developing innovative designs and introducing new products to meet the changing consumer preferences. Additionally, manufacturers are investing in research and development activities to improve the quality of outdoor furniture products and enhance their durability. The market players are also focusing on expanding their distribution channels and collaborating with e-commerce retailers to increase their product reach. Moreover, strategic collaborations, mergers and acquisitions, and partnerships are other strategies being adopted by players to increase their market share.
Top Player’s Company Profiles
Outdoor Furniture Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global outdoor furniture market is witnessing significant growth, driven by the rising demand for outdoor furniture products in hotels, resorts, public gardens, and residential sectors. The trend is particularly observed in seaside areas, hill stations, scenic beauty places, and historical monuments. The market is highly competitive, with several local and international players focusing on developing innovative designs and introducing new products to meet changing consumer preferences. Additionally, manufacturers are investing in research and development activities to improve the quality of outdoor furniture products and enhance their durability. The market is also witnessing a trend towards sustainable materials and eco-friendly manufacturing processes.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 45.10 billion |
Market size value in 2031 | USD 74.28 billion |
Growth Rate | 5.70% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Outdoor Furniture Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Outdoor Furniture Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Outdoor Furniture Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Outdoor Furniture Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG30K2024
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