What Is The Scope Of The Global Outdoor Furniture Market?
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.
Outdoor Furniture Global Market Report 2024 provides data on the global outdoor furniture market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The outdoor furniture market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Outdoor FurnitureMarket Expected To Grow In Size And Annual Rates?
The outdoor furniture market has shown steady expansion, growing from $31.54 billion in 2023 to $33.51 billion in 2024 at a CAGR of 6.2%. This growth stems from rising popularity of outdoor living spaces, economic development, changing lifestyles, and increasing home improvement activities. The market is expected to grow further, reaching $43.39 billion by 2028 at a CAGR of 6.7%. Drivers include rising disposable incomes, urbanization, innovative designs, and a growing preference for outdoor living. Notable trends include the use of luxurious textiles, sustainable materials, technological innovations, customization options, and creative designs.
What Main Forces Are Fueling Expansion In The Outdoor Furniture Market?
The increasing emphasis on home renovation is likely to stimulate the outdoor furniture market's growth. Home renovation, which involves upgrading or remodeling residential properties to improve their functionality and value, is driven by factors such as personalization, sustainability, and lifestyle changes. Outdoor furniture plays a significant role in these renovations by enhancing outdoor living areas for relaxation, dining, and entertaining. For instance, the Joint Center for Housing Studies of Harvard University forecasts that spending on home improvement projects will rise from $472 billion in 2022 to $485 billion by 2024. This focus on home renovation is fueling demand for outdoor furniture.
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What Are The Primary Segments In The Global Outdoor Furniture Market?
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
Which Key Trends Are Driving Changes In The Outdoor Furniture Market?
In the outdoor furniture market, companies are developing innovative solutions such as recycled plastic furniture made from sustainable materials to boost growth, enhance brand reputation, and secure a competitive edge. Recycled plastic furniture is made from post-consumer or post-industrial plastic waste, which is processed into durable, eco-friendly products. In June 2021, DCW Polymers Ltd., a UK-based sustainable product manufacturer, launched a range of outdoor furniture made entirely from recycled plastic waste. This new product line includes picnic benches, tables, chairs, fence posts, and decking, offering a maintenance-free, weatherproof alternative to timber while contributing to sustainability.
What Is The Leading Region In The Outdoor Furniture Market?
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.
