Outdoor Furniture Industry To Be Influenced By Amplifying Trends In Exterior Design

The global outdoor furniture industry is expected to witness a ~5.4% CAGR during the forecast period. The global outdoor furniture market size is expected to be valued at ~USD 26 billion by the end of 2025.

The mounting levels of spending on exterior furnishings have taken a hike as the spending power globally rises. Market reports associated to the construction industry have been put forward by Market Research Future which generates reports on other industry verticals that target the study of recent market scenarios better. The market is projected to observe a positive CAGR in the duration of the forecast period.

The developments in the materials used for manufacturing furnishings intended for outdoor use has expedited the growth pace of the market in recent years. The expansion of the furniture industry has also positively influenced the expansion of the outdoor market in recent years. The growth observed in the expanding hospitality industry is projected to create new prospects for growth in the approaching years.

Segmental Analysis

The analysis of the outdoor furniture market globally is conducted on the basis of material, product, and region. Based on Material, outdoor furniture market is segmented into plastic, metal, wood and other. On the basis of product, the outdoor furniture market is segmented into patios, general furniture, grills, and others. The regions that are encompassed in the outdoor furniture market are Europe, North America, Asia Pacific, and the rest of the world.

Detailed Regional Analysis

The regional analysis of the outdoor furniture market comprises of regions such as Europe, North America, Asia Pacific, and the rest of the world. The North American region is leading the market for outdoor furniture on a global level. The U.S controls the chief share of the outdoor furniture market in the North American region which is trailed by nations such as Mexico and Canada. The U.S. is anticipated to develop at a CAGR of about 5% all through the forecast period. The demand for outdoor furniture is growing as they are regarded as comfortable items for relaxation and have a certain degree of aesthetic appeal. The presence of factors such as easy maintenance, interior storage space, and appearance are some of the factors that are reinforcing the expansion of the market.

Competitive Analysis

The market shows an escalated growth pace due to the positive influence exerted by the market forces. The absorbed costs in the market are easily dealt with, opening up more room for development in the market. The promotional and other related expenses are improved particularly due to the progress of the market. The competitors are devotedly undertaking the obstacles to development and are building strategies that can lead to a beneficial effect on the market's growth. Certain regions in the market are expected to achieve an absolute advantage in the market place due to optimized strategies. The accretive nature of some of the assets in the market is expected to boost the growth potential of the market. Additionally, the alliances being created in the market are expected to further motivate the expansion of the market in the coming years.

The principal market companies in the global outdoor furniture market are Adams Manufacturing, Brown Jordan, Century Furniture, Barbeques Galore, Forever Patio, Home Depot, Home Crest Outdoor Living, Dedon, and Heritage Home Group.

Industry Updates:

Mar 2019 H&M home is launching stylish rattan furniture and outdoor furniture set in oak and black steel. The outdoor furniture is going to be available for sale from the beginning of March. The fresh collection is the right balance between on-trend and long-lasting, functional designs for any room.

Jan 2019 Muuto, a Danish brand is launching the brand’s first ever outdoor collection. The collection has been titled Linear Steel Series, with the clean-lined table and chair set that is a modern take on the picnic bench visualized by Thomas Bentzen, a Copenhagen-based designer who has a long-term relationship with the brand.

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