Global Outdoor Furniture Market: Overview
Outdoor furniture or patio furniture is furniture that is a perfect fit for harsh climatic conditions such as heat and rain. There are several types of fancy outdoor furniture available in the market. The furniture market is growing fast with people’s interest in interiors and infrastructure.
Global Outdoor Furniture Market: Growth Factors
The global outdoor furniture market is expected to grow and expand at a high CAGR over the forecast period.
Some of the significant factors that boost the global outdoor furniture market are the growth in the urban population and real estate sectors. The increasing per capita income in the under-developing countries and high disposable income across the world are fueling the global outdoor furniture market.
The increasing trend of the world tour, vacation, and trip traveling has resulted in expanding the tourism sectors across the world. Due to the expansion of the tourism sector, the real estate segment is flourishing at an unexpected level. Increasing numbers of hotels, resorts, public sectors, and various other open spaces will propel the demand for outdoor furniture.
Moreover, these spikes skyrocket the demand for the highly modernized furnishing system.
The demand for modern furniture is propelling the product and design innovation in the market, which is fuelling the growth in the market.
Spike in the retail outlet and distribution channel with attractive infrastructures and furniture to magnetize the customers is contributing to the growth in the market.
The outbreak of COVID-19 had hampered the growth of the outdoor furniture market. But with the control over the pandemic situation, there is expected growth in the segment with innovation that arises due to the COVID-19.
Global Outdoor Furniture Market: Segmentation
The global outdoor furniture market segmented into product, end-use, distribution channels, material, and region.
By product, the market is segmented into chairs, tables, seating seats, lounges, day beds, and dining sets. The seating set segment is expected to dominate the market over the forecast period.
By material, the market is bifurcated into wood, metal, plastic, textile, and others.
The wood segment holds the largest share in the global outdoor furniture market.
The appearance, architectural themes, and interior play an important role in purchasing the furniture. Wood is extremely good at physical appearance and durability. Hence it has high demands in the market. Several categorizations in the wood products include pine cedar, mahogany, teak, redwood, and others that are widely used in furniture manufacturing.
By end-use, the market is segmented into residential and commercial.
Residential end-users hold the largest market share. Improved spending powers and high urbanization are the key drivers in spiking the growth of the residential segment.
By distribution channel, the market can be segmented into home centers, flagship stores, specialty stores, online, and other channels.
Global Outdoor Furniture Market: Regional analysis
North America dominates the global outdoor furniture market.
The US is emerging as the prominent consumer market for outdoor furniture. High income and willingness to spend on the interior are the key factors that drive the regional market.
Asia Pacific is witnessing high growth rates with the expanding CAGR over the forecasted years.
Countries like China and India are emerging as a prominent regional market in Asia. Singapore has high tourist numbers and thus it fuels the product demand in the Asia Pacific region. Thailand and Malaysia being the most preferred vacation destination propel the demand for outdoor furniture and thus contribute to the growth in the regional market.
Global Outdoor Furniture Market: Competitive Players
Some of the prominent players in the global outdoor furniture market are Silver Toss Industries Pvt. Ltd., Agio International Company Limited, Shouguang Bailing Wood Industry Co. Ltd., Maze Rattan Wholesale Garden Furniture, The Home Depot, Inc., Plaisir Du Jardin, Ltd., Patio Furniture Industries, Shouguang Bailing Wood Industry Co., Ark Furniture Wholesale, Homecrest Outdoor Living, Brown Jordan International, Kimball International, Inc., Century Furniture LLC, and Linyi Haisen Wood Co. Ltd.
Global Outdoor Furniture Market: Regional Segment Analysis
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