Outdoor Furniture Market to Garner USD 26,598.5 million by 2027 | 4.5% CAGR - Impact of COVID-19 Pandemic and Global Analysis by The Insight Partners

The 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. 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.

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Companies Profiled in this report includes:

• Agio International Company, Ltd.
• Ashley Home Stores, Ltd.
• Barbeques Galore
• Brown Jordan
• Century Furniture LLC
• Home crest Outdoor Living LLC
• Inter Ikea Systems B.V.
• Keter Group
• Florida Patio Furniture Inc.
• Polywood

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.

The COVID-19 outbreak, which began in Wuhan (China) in December 2019, has spread around the globe at a fast pace. As of June 2020, the US, Russia, India, China, Italy, Spain, France, and Germany, are among the worst-affected countries in terms of positive cases and reported deaths. According to the WHO figures updated in June 2020, approximately 7,482,952 confirmed cases and 419,497 deaths have been reported globally. The outbreak has affected economies and industries due to lockdowns, travel bans, and business shutdowns. Consumer goods is one the world's major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this pandemic.

The Report Segments the Global Outdoor Furniture Market as Follows:

By Material

• Wood
• Metal
• Plastic

By Product

• Chairs
• Tables
• Seating Sets
• Loungers and Daybeds
• Dining Sets

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, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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