Menu
Technavio categorizes the global market for outdoor furniture as a subset of the worldwide market for home furnishings, which includes goods and businesses involved in producing or selling furniture, home textiles, floor coverings, and decorative items. Between 2022 and 2027, it is predicted that the world market for outdoor furniture will rise by USD 5,207.76 million. The rate of market growth will increase at a CAGR of 3.28%.
Multiple vendors can be found in the fragmented global market for outdoor furniture. Numerous well-known companies sell outdoor furniture on the market, including Ashcomm LLC, Barbeques Galore (Aust) Pty Ltd, Brown Jordan Co., Century Furniture LLC, Ellements, Gloster Furniture GmbH, Haworth Inc., Higold Group Co Ltd, Homecrest Outdoor Living LLC, Inter IKEA Systems B.V., Keter Home and Garden Products Ltd, Lowes Co. Inc., Metro Plus Lifestyle, Patio Furniture Industries, The Home Depot Inc., TUUC.
Consumer expectations and preferences are prone to fast change, affecting the outdoor furniture market. The emphasis on interior and exterior decor, as well as consumers’ shifting lifestyles, significantly impact their purchasing decisions. Global outdoor landscaping market expansion has led to an increase in demand for outdoor furniture. Additionally, the rise in construction activity and the accessibility of high-quality furniture will support market expansion throughout the projection period.
By product (outdoor furniture and accessories, outdoor grills and accessories, and patio heating items), end-user (residential and commercial), and distribution channel, Technavio has segmented the market (offline and online). A wide variety of outdoor furniture was considered for this project, including garden chairs, suspended seats, camping equipment, ottoman, stools, and different types of wicker furniture for outdoor use.
The market will grow during the projected period due to a solid rebound in the residential housing market and an increase in consumer spending. The outdoor furniture and accessories category will considerably contribute to market expansion during the anticipated period. Expanding outside living spaces with plush deep couches and ornate outdoor lighting boosts demand for outdoor home furniture.
The worldwide outdoor furniture market is divided into five geographic regions: North America, APAC, Europe, South America, and the Middle East and Africa. The study estimates each region’s contribution to expanding the global outdoor furniture industry and offers takeaways.
During the projection period, North America will contribute 35% of market growth worldwide. The three foremost market leaders are the US, Canada, and Mexico. The North American real estate and commercial leasing sectors have experienced rapid expansion, boosting the region’s outdoor furniture sales. Vendors are also increasing their product lines by releasing new patio furniture through new ranges and collections to fulfill the rising demand for outdoor furniture. These elements will fuel the market’s expansion during the course of the projection.
Product design innovation and portfolio diversification propel the global outdoor furniture market. The emphasis on outdoor design has grown significantly due to changing lifestyles worldwide. Vendors are increasing their product offerings by offering new patio furniture through new ranges and collections. They provide furniture in a wide range of styles, materials, and hues to draw clients. During the anticipated year, the availability of such items would further boost sales and support market expansion.
One of these is the rising demand for environmentally friendly outdoor furniture. Natural materials provide a higher aesthetic appeal and can survive extreme weather. Forest woods like teak, rosewood, sal, and deodar are excellent substitutes for furniture made of environmentally friendly materials. Moso bamboo, which is more challenging and complex than most other species of wood, including oak, is used by manufacturers to create a wide variety of aesthetically pleasing furniture. During the forecast period, these factors will aid the market’s expansion.
The market’s expansion needs to be improved by the prolonged replacement cycle. Unlike furniture made of inexpensive materials like plastic, branded, high-quality furniture does not need to be replaced frequently. In addition, many customers view outdoor furniture purchases as a one-time investment due to their high prices—products for outdoor furniture typically last 7 to 9 years. Major producers provide product warranties and guarantees, extending the lifespan of their products even further. These issues deter people from buying furniture again and again. Therefore, the lengthy furniture replacement cycle is impeding market expansion.
Between 2022 and 2027, the U.S. market for outdoor furniture is anticipated to expand at a CAGR of 3.26%. The market is expected to grow by $1,434.3 million in size. This study goes into great detail about market segmentation by product (outdoor furniture and accessories, outdoor grills and accessories, and patio heating devices), distribution channel (offline and online), and end-user (residential and commercial).
From 2021 to 2026, the market for outdoor kitchen cabinets is projected to rise by USD 913.09 million, with a CAGR of 4.75% forecast. The outdoor kitchen cabinets market segmentation by end-user (residential and commercial) and geography are covered in-depth in this study (North America, Europe, APAC, South America, and the Middle East and Africa).
They were the leading worldwide technology research and consultancy firm Technavio. Their research and analysis concentrate on new market trends and offer practical information businesses can use to find market opportunities and create winning strategies to improve their market positions. Technavio has more than 500 professional analysts working on its research library, which now has more than 17,000 papers covering 800 technologies in 50 countries. Businesses of all sizes, including over 100 Fortune 500 corporations, make up their clientele. This expanding clientele counts on Technavio’s thorough coverage, in-depth analysis, and actionable industry insights to spot opportunities in current and future markets and evaluate their competitive positions in dynamic market environments.
