Global Outdoor Furniture Market Share Is Expected to Grow At A CAGR Value Of Around 5.7% By 2028

26-Jul-2022 | Facts and Factors

According to Facts and Factors, the global outdoor furniture market size was valued at USD 15.9 billion in 2021 and is predicted to increase at a CAGR of 5.7% to USD 22.17 billion by 2028. The study examines the market in terms of revenue in each of the major regions, which are classified into countries.

Demand for outdoor furniture is majorly influenced by rising disposable income and changing consumer preferences on a global scale. Outdoor furniture is used in public spaces in commercial applications and with changing consumer preferences and rising standards of living these ate highly popular in residential settings as well. Increasing use of outdoor furniture in tourism and hospitality applications is also anticipated to propel outdoor furniture market potential in the years to come. The rising focus on luxury living will also play a crucial role in shaping the outdoor furniture market potential.

Browse the full “Outdoor Furniture Market Size, Share, Growth Analysis Report By Material (Wood, Metal, Plastic, Textile, Others), By Product (Chairs, Tables, Seating Sets, Dining Sets, Loungers & Day Beds, Others), By End-User(Residential, Commercial), By Price Range (High End, Medium, Low), and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028" report at https://www.fnfresearch.com/outdoor-furniture-market

While the market will see expansion at a steady pace it will also face challenges in providing affordable and cost-effective options to maximize market penetration. However, high costs of outdoor furniture are expected to have a hampering effect on the global outdoor furniture market potential over the forecast period.

Segmental Overview

In terms of material, the wood segment accounted for a major market share and is expected to keep this stance through the forecast period. This is the preferred material for manufacturing across the world and hence is expected to account for nearly 60% of the global outdoor furniture market share. The rising use of wood in commercial and residential settings is also expected to boost the demand for this segment.

The residential segment held a dominant outlook by accounting for around 58% of the global market share and is expected to hold this stance through the forecast period as well. The commercial segment is anticipated to rise at a faster CAGR than the residential segment and this will be driven by the rising number of hotels and resorts to accommodate the growing tourism and hospitality industry across the world.  

Regional Overview

The North American outdoor furniture market is expected to lead the global outdoor furniture industry and is anticipated to account for a major market share of over 35%. The high spending potential of consumers in this region and the presence of key outdoor furniture manufacturers are expected to boost the demand for outdoor furniture in this region over the next few years. The United States will see the most lucrative growth opportunities in this region owing to the high spending capacity of consumers. Europe will emerge as the second most lucrative market for outdoor furniture owing to rising disposable income and a flourishing tourism industry.

Report Scope

Competitive Landscape

The report contains qualitative and quantitative research on the global Outdoor Furniture Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

Some of the major companies operating in the outdoor furniture market are Dedon, Unopiu, Ace Hardware, Haworth, Inc., Steelcase, Herman Miller, Inc., Ashley Furniture Industries, Knoll, Inc., Sun Garden GmbH, The Home Depot, Inc., IKEA, Tuuci, Royal Botania NV, Molteni & C., B&B Italia SpA, Century Furniture, and others.

The Global Outdoor Furniture Market is segmented as follows:

By Material

• Wood
• Metal
• Plastic
• Textile
• Others

By Product

• Chairs
• Tables
• Seating sets
• Dining sets
• Loungers & day beds
• Others

By End-User 

• Residential
• Commercial

By Price Range

• High end
• Medium
• Low

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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