Outdoor Furniture Market Estimates May Beats Expectation on Upcoming Revenue Growth

According to our latest market study on "Global Outdoor Furniture Market Forecast to 2027 - COVID-19 Impact and Analysis by Material (Metal, Plastic, Wood, and Others),Product (Chairs, Tables, Seating Sets, Loungers and Daybeds, and Dining Sets), End User (Residential and Commercial), and Geography". The global outdoor furniture market was valued at US$ 17,843.7 million in 2018 and is projected to reach US$ 26,598.5 million by 2027; it is expected to grow at a CAGR of 4.5% from 2019 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market. Rising trend towards travelling and shift in lifestyle to escalate market growth at CAGR of 4.5% during 2019-2027.

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Key Companies:
Agio International Company, Ltd.;Ashley Home Stores, Ltd.;Barbeques Galore;Brown Jordan;Century Furniture LLC;Home crest Outdoor Living LLC;Keter Group;Inter IKEA Systems B.V.;Florida Patio Furniture Inc.; and Polywoodare

Outdoor furniture such as chairs, tables, seating sets, dining sets, loungers, daybeds, and hammocks are quite popular among the residential and commercial customers. The outdoor furniture market on a global scale has been witnessing substantial growth in the recent past. Factors such as a rise in consumer spending and traveling trends have resulted in a surge in the number of tourists across the world. These factors are mostly observed in tourist spots, beach sides, and hill stations, thereby leading to increased counts of motels, hotels, guest houses, resorts, open spaces, and public gardens. Hence, a growing number of hotels and restaurants are further expected to propel the outdoor furniture market during the forecast period.

Consumer spending on traveling and tourism has considerably increased across the world. A shift in consumer lifestyle has resulted in a rise in investment for traveling and exploration activities. The travel and tourism sector has become a significant contributor in developing preference towards the use of outdoor furniture to enhance the aesthetic appeal of commercial and residential spaces along with catering to the luxury needs of consumers. According to The United Nations World Tourism Organization (UNWTO), the international tourist arrivals across the world rose up by 6% in 2018 that was accounted for 1.4 billion. Further, as stated by The World Travel & Tourism Council (WTTC) in 2018, the travel and tourism sector generated 10.4% of global GDP. Additionally, European countries are considered to be the most preferred hub for tourism. Moreover, the rising rate of tourism in countries such as Singapore, Malaysia, and Thailand is also propelling the market growth in the region.

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Report Spotlights
• Progressive industry trends in the global outdoor furniture market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the global outdoor furniture market from 2017 to 2027
• Estimation of global outdoor furniture demand across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
• Recent developments to understand the competitive market scenario and global outdoor furniture demand
• Market trends and outlook coupled with factors driving and restraining the growth of the global outdoor furniture market
• Decision-making process by understanding strategies that underpin commercial interest with regard to global outdoor furniture market growth
• Global outdoor furniture market size at various nodes of market
• Detailed overview and segmentation of the global outdoor furniture market, as well as its dynamics in the industry
Global outdoor furniture market size in various regions with promising growth opportunities

Global Outdoor Furniture Market- By Material
Wood
Metal
Plastic
Others

Global Outdoor Furniture Market - By Product
Chairs
Tables
Seating Sets
Loungers and Daybeds
Dining Sets

Global Outdoor Furniture Market- By End User
Residential
Commercial

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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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