Outdoor Furniture Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Outdoor Furniture Market
The outdoor furniture market size was valued at USD 50.73 billion in 2023, and the market is now projected to grow from USD 53.27 billion in 2024 to USD 81.44 billion by 2032, exhibiting a CAGR of 5.45% during the forecast period of 2024-2032.
Lockdowns enforced in several nations worldwide made it difficult for businesses to meet face-to-face with their suppliers and channel partners to complete business transactions. The product revenues of important corporations were greatly affected by this. Furthermore, the population's ability to consume the products was greatly hindered by the closure of upholstery shops and the paucity of raw material supply resulting from these limitations. These factors affected the outdoor furniture market growth.
The population's ability to afford more leisure activities, such dining in rooftop bars and kitchens, has been made possible by the fast-paced urban lifestyle and rising financial status. There are several reasons why hotels and restaurants should consider rooftop dining areas, with the demand for cozy dining areas only increasing. These particular growth driving factors have been recorded to attribute the outdoor furniture marketshare.
A relaxing and cozy setting for social events like parties, meetups, and conferences is what consumers are becoming more and more interested in garden furnishings for. The natural environment and outside factors, such as rain, cold, and heat, are taken into account when designing garden sofas.
Comprehensive Analysis of Outdoor Furniture Market
The global market is split into segments based on product type, including dining sets, tables, and chairs. The world market is divided according to the kind of material into categories such as wood, metal, plastic, and others. Because more and more homes and apartments are utilizing lawn and balcony fixtures, the residential segment currently controls the majority of the market.
Asia Pacific is expected to be the leading region of this particular product market and is anticipated to to grow over the forecasted period and also will continue to hold the largest market share. Since the real estate sector is expanding and there are more building projects. Thus, market expansion is being aided. In addition, the expansion of the industry in this area has been aided by the increased accessibility of a wide variety of upholstery items and domestic and foreign furnishing companies over the internet.
Moderate market fragmentation exists. In addition to spending money on R&D to manufacture items, these businesses have large production capacities. IKEA (Netherlands), Brown Jordan Co. (U.S.), Gloster Furniture (U.S.), Aura Global Furniture (India), and Kettal Group (Spain) are a few of the leading industry participants.
In February 2023, A line of opulent outdoor furniture has been introduced by Vetra, a well-known manufacturer of outdoor furniture goods. The introduction will aid in the company's reach and product line depth increases.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 5.45% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Product Type
Tables
Chairs
Dining Sets
Others
By Material Type
Wood
Metal
Plastic
Others
By End-User
Residential
Commercial
By Geography
North America (By Product Type, Material Type, End-User, and Country)
- U.S. (By Product Type)
- Canada (By Product Type)
- Mexico (By Product Type)
Europe (By Product Type, Material Type, End-User, and Country)
- Germany (By Product Type)
- France (By Product Type)
- Italy (By Product Type)
- Spain (By Product Type)
- U.K. (By Product Type)
- Rest of Europe (By Product Type)
Asia Pacific (By Product Type, Material Type, End-User, and Country)
- China (By Product Type)
- India (By Product Type)
- Japan (By Product Type)
- Australia (By Product Type)
- Rest of Asia Pacific (By Product Type)
South America (By Product Type, Material Type, End-User, and Country)
- Brazil (By Product Type)
- Argentina (By Product Type)
- Rest of South America (By Product Type)
Middle East and Africa (By Product Type, Material Type, End-User, and Country)
- South Africa (By Product Type)
- UAE (By Product Type)
- Saudi Arabia (By Product Type)
- Rest of Middle East and Africa (By Product Type)
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