Global Outdoor Furniture Market Forecast to 2030 with Competitive Landscape Analysis and Key Companies Profile

Outdoor Furniture Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Outdoor Furniture Market Research Report, by Material, Product Type, End-User, and Region  - Forecast till 2027” is expected to reach a market value of USD 27 billion by 2027, registering a CAGR of 5.7% during the forecast period (2020-2027).

Outdoor Furniture Market Analysis/Outdoor Furniture Market Outlook 

According to the MRFR report, there are numerous factors that are propelling the global outdoor furniture market share. Some of these entail the increase in consumer spending, rising travelling trends, increase in hotels and restaurants, rising financial capacity to spend on leisure activities, booming home improvement industry, growing need for balcony furniture, booming real estate industry, rapid urbanization, and increasing urban population in emerging countries that is widely influencing the lifestyle pattern. The additional factors that are fuelling the global outdoor furniture market value include a modern lifestyle, rapid socializing trends such as social get together, outdoor dining at gardens, and barbeque events and grilling in the backyard area, increasing tourism industry, and manufacturers shifting trend to comfortable garden furniture from aluminum chairs. Rising preference for aesthetic furniture and increasing use of multipurpose outdoor furniture are the latest outdoor furniture market trends.

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The key players profiled in the global outdoor furniture market report include-

Kimball International Inc. (US)
Agio International Company LTD (US)
Century Furniture LLC (US)
Inter IKEA Systems B.V. (the Netherlands)
and Brown Jordan International (US)
others
COVID-19 Analysis 

The COVID-19 pandemic has adversely impacted industries and economies in different countries owing to business shutdowns, travel bans, and lockdowns imposed by the government. The consumer goods sector is one of the most affected as it has suffered serious disruptions like office shutdowns, technology events cancellations, and supply chain breaks. The shutdown of various factories and plants has restricted the global supply chain and negatively affected the manufacturing activities, sales, and delivery schedules of outdoor furniture. Besides, various companies have predicted possible delays in deliveries of furniture and a slump in future sales. Besides, the travel bans in North America, Asia, and Europe have hindered partnership opportunities and business collaborations. All these have hampered activities in the consumer goods industry that in turn has limited the growth of the outdoor furniture market.

Market Segmentation 

The MRFR report highlights an inclusive analysis of the global outdoor furniture industry based on end user, product type, and material.

By material, the global outdoor furniture market is segmented into textile, wood, plastic, metal, and others. Of these, the wood material segment will lead the market over the forecast period at a high CAGR for its alluring features such as stylish and luxurious appearance, superior comfort, and durability.

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By product type, the global outdoor furniture market is segmented into dining sets, seating sets, tables, chairs, and others. Of these, the seating sets product type segment will dominate the market over the forecast period for its necessity in residential as well commercial spaces such as hotels, resorts, and restaurants.

By end user, the global outdoor furniture market is segmented into commercial and residential. Of these, the residential end user segment will spearhead the market over the forecast period.

Regional Takeaway 

North America to Spearhead Outdoor Furniture Market 

Geographically, the global outdoor furniture market is bifurcated into Europe, North America, South America, the Asia Pacific, & the Middle East and Africa (MEA). Of these, North America will spearhead the market over the forecast period. The region being the leading consumer of outdoor furniture, the presence of several leading companies, willingness of consumers to invest on the product, the expansion of several sectors like open restaurants, recreational sport areas, public gardens, and hospitality, growing emphasis on investments in the real estate and construction sectors, rapid growth of economies, rise in urbanization, rise in income levels, increase in outbound trips, and expansion in the hospitality sector are adding to the global outdoor furniture market growth in the region.

APAC to Have Promising Growth in Outdoor Furniture Market 

In the APAC region, the global outdoor furniture market is predicted to have promising growth over the forecast period. The presence of developing countries- India and China, increasing tourism in Thailand, Malaysia, and Singapore, leading manufacturers offering their services in China and India, manufacturers concentrating on hotels and beach resorts owing to higher profitability attained from these sectors, and Dubai, Indonesia, Thailand, Malaysia, and Singapore offering several growth opportunities owing to the economic tourism and prospective locations from the perspective of tourism, are adding to the global outdoor furniture market growth in the region.

In Europe, the global outdoor furniture market is predicted to have admirable growth over the forecast period.

In South America, the global outdoor furniture market is predicted to have steady growth over the forecast period.

In the MEA, the global outdoor furniture market is predicted to have sound growth over the forecast period.

The global outdoor furniture market is fragmented as well as competitive due to the presence of several international and domestic industry players. These players have encompassed an array of strategies to remain at the vanguard and also suffice the burgeoning needs of the consumers, including partnerships, collaborations, contracts, partnerships, launches, geographic expansions, joint ventures, and new product launches, and more. Additionally, they are also making big investments in R&D for strengthening their portfolios and also creating a hold in the market.

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Industry Updates 

May 2021- Very Good & Proper, a British furniture brand has made its debut in the outdoor furniture. This new range of sustainable outdoor furniture is summer-ready. They have combined sustainable materials with a minimum design that is ideal for any outdoor space from urban balconies to leafy gardens.

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