Enjoy complimentary customisation on priority with our Enterprise License!
The Outdoor Furniture Market size is forecast to increase by USD 6.02 billion at a CAGR of 3.66% between 2023 and 2028. The rapid evolution of the market is attributed to a multitude of factors. Firstly, there's a notable surge in demand for patio heating products across both commercial and residential settings. This heightened demand stems from the desire to create comfortable spaces for leisure and entertainment purposes. Additionally, the booming residential and commercial construction sectors play a pivotal role in driving market growth as they create opportunities for the integration of patio heating solutions into new infrastructures. Moreover, market companies are actively contributing to this momentum through innovative product designs and portfolio expansions. Their commitment to enhancing product offerings aligns with the evolving needs and preferences of consumers, further fueling the market's development. Collectively, these factors synergize to propel the accelerated advancement of the market, catering to the growing demand for efficient and aesthetically pleasing heating solutions. The report provides market size, historical data spanning from 2018-2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
For More Highlights About this Market Report, Download Free Sample in a Minute
The market is thriving as more tourists seek comfort in seaside areas, hill stations, and other scenic beauty places. From historical monuments to hotels, outdoor spaces like public gardens, restaurants, and balconies are adorned with durable furniture. Designed for weather resilience, bug resistance, and tensile strength, these pieces enhance the appeal of gardens and porches in the residential sector. Whether for cafés or rooftop bars, aesthetics meet functionality, driving household sales and boosting the allure of lawns and rooftop gardens.
The outdoor furniture and accessories segment is estimated to witness significant growth during the forecast period. The concept of the expansion living areas, including comfortable deep seating and elaborate lighting in the outdoor space, is spurring the demand for residential outdoor furnishings. A strong recovery in the residential housing market across developed and developing countries and an increase in consumer spending will drive the market's growth during the forecast period.
Get a glance at the market contribution of various segments Download the PDF Sample
The outdoor furniture and accessories segment was the largest segment and was valued at USD 19.95 billion in 2018. With the trend of outdoor living and the staycation concept gaining traction, the demand for such products will eventually increase. In addition, the unrest created by terrorism across the globe is urging consumers to spend their vacations and leisure time at home instead of at tourist destinations. Such factors play a vital role in determining the growth of the market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America is the largest market, with the US, Canada, and Mexico being the key leading countries. The real estate and commercial leasing industries in North America have been observing significant growth. This has led to an increase in commercial properties, which, in turn, increased sales in North America.
The US is the largest market in North America. The growing economy of the region will drive the growth of the market over the forecast period. The emphasis on decor has increased in the US due to the changing lifestyles of the population in the region. To meet the growing demand, the market players are expanding their product lines by introducing new patios through new ranges and collections.
Open spaces are transformed with outdoor furniture, catering to gardens and balconies, providing crack-proof properties for durability. They offer a platform for various recreational activities, enhancing the overall household appeal. Versatile options like the modular sofa optimize space utilization while providing comfort. As demand surges for outdoor leisure, manufacturers focus on innovation, ensuring products meet the diverse needs of customers seeking both functionality and style in their outdoor spaces. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The innovation in product design, along with the portfolio expansion, is the key factor driving the market. With the evolving climatic conditions and changing lifestyles worldwide, there's a noticeable surge in the emphasis on outdoor decoration. To cater to this growing demand, market players are diversifying their product lines, and introducing new ranges and collections of patio furniture. These offerings feature a wide variety of designs, colors, and durability aimed at captivating customers. Previously, outdoor furniture cushions primarily served to shield furniture from heat. However, modern consumers are now inclined towards multi-functional and charming outdoor spaces.
Moreover, consumers seek furniture in neutral colors like natural browns, standard white, and gray, which can complement bold patterns and bright shades. Consequently, companies are integrating geometric themes, along with ethnic and tribal patterns, into their furniture products to align with customer preferences and fashion trends. The availability of such lightweight and durable fixtures is expected to drive sales and positively influence the market during the forecast period, catering to the evolving needs of the urbanized consumer base.
Increasing demand for environment-friendly products is the primary trend in the market. An increasing number of people are choosing eco-friendly furniture as a gesture toward environmental protection. There are a variety of eco-friendly furnishing materials available that provide better alternatives to forest wood, such as teak, rosewood, sal, and deodar.
Additionally, the increasing demand for environment-friendly furnishings is a trend in the market. Environmental concerns, the negative effects of deforestation, and the effects of toxic finishes in the air have prompted furniture manufacturers to adopt green solutions. Market players are also using renewable materials for making products. Thus, these factors will further propel the growth of the market during the forecast period.
The long replacement cycle is the major challenge impeding the market growth. Branded, superior-quality furnishings, including outdoor furnishings, do not require frequent replacements. Superior quality furnishings made of wood are characterized by a longer replacement cycle than furnishings made of cheap materials such as plastic. The high initial cost and long replacement cycle of outdoor furniture products would hinder the growth of the market. The furniture products, including outdoor furniture, are meant for long-term use, and they do not require frequent replacement. This factor hinders the growth of the market.
Furthermore, market players are offering outdoor furniture products that are durable and of superior quality. The average life of outdoor furniture products lasts for 7 to 9 years. Major furniture manufacturers offer product warranties and guarantees, which further increase product life spans. This discourages the repeat purchase of furniture. The revenue of the global furniture market, including the market, is cyclic. Thus, the long replacement cycle of furnishings restricts frequent sales of outdoor furnishings, thereby hampering the growth of the market.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecast report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments
The market is witnessing a surge in demand as homeowners and the hospitality sector seek to enhance outdoor spaces such as gardens, balconies, and backyards. With a focus on durability against external climatic conditions and insect resistance, there's a growing preference for eco-friendly fixtures made from recycled materials like bamboo and reclaimed wood. Architectural themes influence the design of garden furniture, including chairs, tables, and seating sets, catering to commercial constructions and the residential segment alike. The market is driven by digitization and mobile usage, with online distribution channels playing a significant role. As Millennials seek luxury and elegance in their outdoor spaces, manufacturers focus on providing versatile and sustainable solutions with a natural appearance and aesthetic appeal.
Further, the market caters to diverse experiences ranging from serene balcony retreats to luxurious beach resorts and bustling cafes. With a focus on weather resistance and crack proofing, manufacturers offer an array of options, including loungers, dining sets, and umbrellas to enhance outdoor spaces. Home Centers, Flagship Stores, and Specialty Stores serve as distribution channels, meeting the demand for both commercial end use segments and residential needs. Emphasizing sustainability, the market offers eco-friendly outdoor furniture crafted from materials like metal and reclaimed wood to minimize the environmental footprint. Versatile designs cater to various settings such as rooftop kitchens, public parks, and terraces, providing comfort and style with features like contrast stitching and clean-lined design for both indoor and outdoor use.
Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.66% |
Market Growth 2024-2028 |
USD 6.02 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.9 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agio International Co., Ashley Global Retail LLC, Barbeques Galore (Aust) Pty Ltd, Brown Jordan Co., Castlery Pte Ltd., Century Furniture LLC, Ethan Allen Interiors Inc., Gloster Furniture GmbH, Haworth Inc., Homecrest Outdoor Living LLC, Inter IKEA Holding BV, Keter Group., Lloyd Flanders Inc., LOWES COMPANIES INC., Metro Plus Lifestyle, MillerKnoll Inc., Wayfair Inc., Williams Sonoma Inc., The Home Depot Inc., and Yardbird |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.