Outdoor Furniture Market Analysis | 2023-2028

Outdoor Furniture Market Analysis | 2023-2028

Outdoor Furniture Market Analysis | 2023-2028
Report code - SRCG156 Delivery - 2 Weeks
Outdoor Furniture Market Size, Share, Trend, Forecast & Industry Analysis: 2023-2 See more...

“The Outdoor Furniture Market was estimated at US$ 44.54 billion in 2022 and is expected to grow at a healthy CAGR of 5.6% during 2023-2028 to reach US$ 61.94 billion by 2028.”

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Market Dynamics

Introduction

Outdoor furniture refers to a range of furnishings specifically designed for outdoor use in spaces like patios, gardens, balconies, and terraces. These pieces are constructed with materials that can withstand exposure to weather conditions such as sunlight, rain, and temperature fluctuations. Outdoor furniture includes various items like chairs, tables, loungers, benches, umbrellas, and wooden decking designed to provide comfort and functionality while complementing outdoor aesthetics.

Common materials used in outdoor furniture production include weather-resistant woods, metal alloys, wicker, and synthetic materials. This furniture category enables individuals and establishments to create functional and inviting outdoor living areas for entertaining, lounging, relaxation, dining, socializing, and recreation.

Outdoor Furniture Market Report Overview

Market Size in 2028

USD 61.94 Billion

Market Size in 2022

USD 44.54 Billion

Market Growth (2023-2028)

5.6%

Forecast Period

2023-2028

Base Year of Study

2022

Trend Period

2017-2021

Market Drivers

Major factors driving the growth of the outdoor furniture market are:

  • Rising Demand for Outdoor Living Spaces: The growing preference for outdoor leisure and relaxation spaces drives the demand for outdoor furniture, as people seek to create comfortable and stylish outdoor environments.

  • Urbanization and Limited Indoor Space: In urban areas with limited indoor space, outdoor spaces like balconies and patios become essential extensions of living areas, boosting the demand for compact and functional outdoor furniture.

  • E-Commerce and Online Shopping: The convenience of online shopping provides consumers with access to a wide range of outdoor furniture options, expanding the market's reach and enabling easier comparison and purchasing.

  • Sustainability and Eco-Friendly Preferences: Increasing awareness about environmental impact drives demand for eco-friendly outdoor furniture made from sustainable materials, aligning with consumer values.

  • Seasonal Demand Fluctuations: Seasonal variations in demand, with higher sales during warmer months, impact production and marketing strategies, prompting manufacturers to introduce innovative designs and attractive offers to capture the seasonal market.

  • Global Tourism and Hospitality Industry: The hospitality sector's demand for outdoor furniture to furnish outdoor dining areas, resorts, and hotels contributes significantly to the market's growth, especially in tourist destinations.

  • Economic Factors and Disposable Income: Economic growth and disposable income levels influence consumers' willingness to invest in outdoor furniture, with higher income groups seeking premium and customized options.

Segments Analysis

Outdoor-Furniture-Market-Dominant-Segments

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By Material Type

“Wood accounted for a 50% share of the market and is estimated to register a high growth rate during the forecast period.”

The outdoor furniture market is segmented into wood, metal, plastic, textile, and others. Wood dominates the market and is estimated to register a high growth rate during the forecast period. Manufacturers are shifting towards environmentally friendly materials such as MOSO bamboo, which is harder and stronger as compared to oak.

Furthermore, materials such as mahogany, redwood, teak, pine, cedar, eucalyptus, and composite materials are used on a larger basis for making furniture, and various attractive designs that enhance the look of the outdoor spaces which are expected to boost the growth of the market during the forecast period.

By Product Type

“Chairs dominate the market during the forecast period.”

The outdoor furniture market is segmented into chairs, tables, seating sets, dining sets, loungers & daybeds, and others. Chairs are estimated to be the fastest-growing product type with a 6% CAGR during the forecast period. Major materials such as wood, fabrics, metals, textiles, and plastics are used for producing chairs. Chairs provide high comfort including materials and components which are used with the materials having waterproof features in the making. Moreover, the growing popularity due to color blending and high comfort is expected to accelerate the growth of the market during the forecast period.

By End-Use Type

“The residential segment dominates the market during the forecast period.”

The outdoor furniture market is segmented as residential and commercial. The residential end-use segment accounted for the largest share of the market. Factors such as improvement in income levels in various countries fueling the purchase trends for products in both residential and non-residential spaces, and urbanization are among the major drivers bolstering the growth of the segment.

Region Analysis

“North America is estimated to account for the largest regional market in the coming years.”

The growth of the region’s market is attributed to the presence of multiple players including Bambrella, Woodard, Homecrest, Polywood, Whiteall Products, Uwharrie Chair, Galtech Umbrellas, Ow Lee, Telescope Casual, and Lloyd Flanders. Moreover, the dominance of the market is supported by the expansion of several sectors including public gardens, hospitality, recreational sports areas, and open restaurants.

Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period. 

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Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.

The following are the key players in the outdoor furniture market (arranged alphabetically).

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Key questions this report answers

Relevant contents in the report

How ample is the sales opportunity?

In-depth Analysis of the Outdoor Furniture Market 

How lucrative is the future?

The market forecast and trend data and emerging trends

Which regions offer the best sales opportunities?

Global, regional, and country-level historical data and forecasts

Which are the most attractive market segments?

Market segment analysis and forecast

What are the top players and their market positioning?

Competitive landscape analysis, Market share analysis

How complex is the business environment?

Porter’s five forces analysis, PEST analysis, Life cycle analysis

What are the factors affecting the market?

Drivers & challenges

Will I get the information on my specific requirements?

10% free customization

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. 

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

  • Detailed profiling of additional market players (up to three players).
  • SWOT analysis of key players (up to three players).

Competitive Benchmarking

  • Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com.

Frequently Asked Questions (FAQs)

Outdoor furniture refers to a range of furnishings specifically designed for outdoor use in spaces like patios, gardens, balconies, and terraces. These pieces are constructed with materials that can withstand exposure to weather conditions such as sunlight, rain, and temperature fluctuations. Outdoor furniture includes various items like chairs, tables, loungers, benches, umbrellas, and wooden decking designed to provide comfort and functionality while complementing outdoor aesthetics. Common materials used in outdoor furniture production include weather-resistant woods, metal alloys, wicker, and synthetic materials. This furniture category enables individuals and establishments to create functional and inviting outdoor living areas for entertaining, lounging, relaxation, dining, socializing, and recreation.

The Outdoor Furniture Market is expected to grow at a healthy CAGR of 5.6% during 2023-2028.

Ace Hardware, Century Furniture, Dedon, EMU Group S.p.A., Forever Patio, Haworth, Inc., Roda Srl, Sun Garden GmbH, The Home Depot, Inc., and Unopiu are among the key players in the Outdoor Furniture Market.

The Outdoor Furniture Market is projected to reach US$ 61.94 billion by 2028.

North America is expected to be the largest outdoor furniture market during the next five years.

Chairs are estimated to be the fastest-growing product type in the outdoor furniture market in the coming years.

Wood accounted for a 50% share of the market and is estimated to register a high growth rate during the forecast period.