Yahoo Finance Outdoor Furniture Market Worth USD 29.3 Billion by 2030 Witnessing a CAGR of 6% - Report by Market Research Future (MRFR)
Outdoor Furniture Market Insights and Industry Analysis by Material (Metal, Plastic, Wood, Textile, and Others), Product Type (Chairs, Tables, Seating Sets, Dining Sets, and Others), End-User (Residential and Commercial), and Region (North America, Europe, Asia-Pacific (APAC), and Rest of the World), Competitive Market Size, Share, Trends, and Forecast to 2030
New York, US, May 16, 2022 (GLOBE NEWSWIRE) -- Outdoor Furniture Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Outdoor Furniture Market Information by Material, Product Type, End-User, and Region - Forecast till 2030”, the market is estimated to grow at a CAGR of 6% CAGR to reach USD 29.3 Billion by 2030.
Market Scope:
Outdoor furniture options have a sophisticated and fashionable appeal. Aside from that, wood furniture goods have many additional advantages, such as durability and improved comfort. Market players are also improving these by applying technologies that improve product appeal. Companies are developing smart mattresses and tables with built-in televisions and music systems in our modern day. In order to entice buyers, different types of designs are being carved on such furniture.
Competitive Dynamics:
The prime players of the outdoor furniture market are:
AGIO International Company, LTD
Brown Jordan International
Century Furniture LLC
Inter IKEA Systems B.V.
Kimball International, Inc.
EMU Group S.P.A.
DEDON, The Home Depot, Inc.
Haworth, Inc.
UNOPIU, Hartman UK
PLAISIR Du JARDIN, Ltd.
IKEA
Royal BOTANIA NV
ZUO Modern
Alfresco Home
Maze Rattan Wholesale Garden Furniture
AGIO International Company Limited.
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Market USP Covered:
Market Drivers:
In recent years, the Outdoor Furniture Market has seen a significant increase in demand. Consumer purchasing power is increasing in the market. Consumer attention is shifting to improving outside spaces, such as balconies, gardens, and porches, to create more comfortable and appealing designs, resulting in market increase. Consumers are prepared to spend their disposable cash on improving aesthetics and growing product diversity, notably in the design and manufacture of outdoor furniture products. The demand for outdoor furniture is directly influenced by changing weather conditions in different countries. The growing demand for do-it-yourself (DIY) and ready-to-assemble (RTA) furniture goods is also assisting the market's growth, particularly in the home and office furniture categories, resulting in increased global sales.
Customers' ability to spend on foreign travel is also assisting the worldwide market's growth. The growing demand for international travel is being pushed by an increase in the number of people interested in doing so. Tourist destinations are the primary locations where such variables can be observed. Tourist locations, such as gill stations, are also in high demand. For comfort and convenience, this is driving up demand for hotels, public gardens, open spaces, and resorts. To attract potential consumers and propel themselves in the global tourism business, hotels and restaurants demand the greatest type of outdoor furniture. By the conclusion of the worldwide forecast period, this rising demand will have aided the growth of the outdoor furniture market. Apart from the tourism business, many homeowners want to improve their gardens and balconies by adding attractive seating areas.
Market Restraints:
Most outdoor furniture pieces are pricey, and not all clients can afford them. With excellent quality comes a premium price that not everyone can afford. So this pricing is one aspect that may impede the market expansion. Also, meeting clients' exact requirements is a big concern that the players are still working on. Another issue that may restrict the growth of the outdoor furniture industry is client contentment with perfection.
Browse In-depth Market Research Report (111 Pages) on Outdoor Furniture: https://www.marketresearchfuture.com/reports/outdoor-furniture-market-2077
COVID-19 Evaluation:
The abrupt COVID-19 pandemic, which struck the world in the first days of 2020, has drastically altered the outdoor furniture sector. The supply chain interruptions and temporary trade ban have had a significant impact on countries that rely heavily on imports for their furniture needs. With the increase in time spent at home due to the pandemic, approximately 58 percent of the world's population was compelled to adapt to a lengthier stay-at-home routine, motivating customers to optimize their houses and furniture. COVID-19 also emphasized the significance of minimizing dependency on imports and enhancing industry automation and digitalization.
Outdoor Furniture Market Segmentation:
Metal, plastic, wood, cloth, and other materials have been used to segment the market.
The market has been divided into chairs, tables, sitting sets, dining sets, and others based on product category.
The market has been divided into residential and commercial segments based on end-user.
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Outdoor Furniture Market Region Analysis:
The outdoor furniture market is incredibly active in six key international regions: Europe, Asia Pacific, Africa, North America, the Middle East, and South America.
During the predicted period, the North American region is expected to increase significantly. The cause for this is due to the city's dense population and increased demand for high-end items. The regional dominance is supported by the rise of the hotel business, as well as people's increasing inclination for replacing their basic furniture set with furniture that has multifunctional characteristics. The market outlook is being bolstered by the growth of offices with gardens and the expansion of recreational centers.
Because of favorable climatic conditions for wood development, Europe will be the second-largest market throughout the forecast period. Another factor driving the expansion of the outdoor furniture industry is the availability of processed woods, particularly in Thailand, Mexico, and Singapore. Also, nations like India and China, where tourist activities are rapidly rising, will be the most demanding countries in this market, driving its expansion to a large amount.
The need for outdoor furniture is increasing dramatically throughout Asia Pacific, which will propel the regional market forward. Additionally, the growing number of stadiums and cumulative government investment in public gardens and parks are driving the regional industry. The growing demand for balcony furniture, fueled by a booming real estate market, will influence business growth.
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