Dublin, May 09, 2024 (GLOBE NEWSWIRE) -- The "Outdoor Furniture - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Outdoor Furniture Market to Reach $35.1 Billion by 2030
The global market for Outdoor Furniture estimated at US$21.5 Billion in the year 2023, is projected to reach a revised size of US$35.1 Billion by 2030, growing at a CAGR of 7.2% over the analysis period 2023-2030. Outdoor Wood Furniture, one of the segments analyzed in the report, is expected to record a 7.4% CAGR and reach US$19.5 Billion by the end of the analysis period. Growth in the Outdoor Metal Furniture segment is estimated at 6.8% CAGR for the next 7-year period.
Competitive dynamics are diverse, with players worldwide demonstrating varying degrees of market presence, from strong to trivial, as of 2024. Socializing and recreation further bolster the demand for outdoor furniture, reflecting evolving consumer preferences that prioritize comfort and style. Innovations in design and technology blur the distinction between outdoor and indoor furniture, with ultramodern and chic options gaining popularity. Outdoor furniture is increasingly seen as a style statement, with high-end technology playing a significant role in design innovation. Moreover, the convenience of online purchases is driving increased adoption among consumers.
The U.S. Market is Estimated at $5.6 Billion, While China is Forecast to Grow at 10.9% CAGR
Developing economies are poised to drive future growth in the outdoor furniture market, supported by improvements in macro-economic indicators such as GDP performance. The revival in the residential and commercial construction sectors, coupled with the growing middle-class population, contributes to the market's expansion.
The Outdoor Furniture market in the U.S. is estimated at US$5.6 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$8.6 Billion by the year 2030 trailing a CAGR of 10.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 5.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.1 Billion by the year 2030.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 248 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $21.5 Billion |
| Forecasted Market Value (USD) by 2030 | $35.1 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- A Prelude
- Recent Market Activity
- Developing Economies to Drive Future Growth
- Macro-Economic Indicators
- Improvement in GDP Performance Bodes Well for the Market
- Construction Industry - Revival in the Residential & Commercial Construction Sectors Aid Outdoor Furniture Market
- Growing Middle Class Population Propels Outdoor Furniture Market
- Outdoor Furniture - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Global Economic Update
MARKET TRENDS & DRIVERS
- Socializing and Recreation Bolster the Need for Outdoor Furniture
- Evolving Consumer Preferences
- Innovations Blur the Difference between Outdoor and Indoor Furniture
- Ultramodern and Chic Furniture in Vogue
- Comfort: A Key Determinant of Product Success
- A Style Statement Rather Than A Necessity
- High-End Technology Grips Outdoor Furniture Design Space
- Outdoor Furniture: No Longer an Afterthought for Improving Outdoor Comfort
- Online Purchases Gain Steam
- Retailers and Manufacturers Hop on to the 'M-Commerce' Bandwagon
- Fast-Paced and Stressful Lifestyles Create the Need for Outdoor Furniture
- Innovative Weather Resistant Materials & Fabrics Help Fan the Demand
- Eco-Friendly Outdoor Furniture Gains Prominence
- Ergonomics: A Key Design Variable
- Styling and Aesthetics Gain Prominence
- Premium Products Take On a High Profile
- Innovative Fabrics Catch the Fancy of Homeowners
- Customers Become Increasingly Hard-to-Please
- Aluminium Patio Furniture Gains Steam
- Outdoor Benches: A Part of the Must-Have Outdoor Furniture Collectables
- Patio Umbrellas Offer a Much Needed Respite from the Sun & Rain
- Comfort - A Key Driving Factor for Hammocks
- Thin Line Dividing the Indoor and Outdoor Products
- Outdoor Furniture Made To Look & Feel Like Indoor Furniture
- DIY Multiples and Garden Centers: The Key Channels
FOCUS ON SELECT PLAYERS (Total 152 Featured)
- Ace Hardware (USA)
- Adams Manufacturing (USA)
- Agio International Co. (USA)
- Barbeques Galore (Australia)
- Brown Jordan (USA)
- Casual Living (USA)
- Century Furniture (USA)
- DEDON (Germany)
- Emu Group S.p.A. (Italy)
- Fischer Mobel GmbH (Germany)
- Forever Patio (USA)
- Hartman (The Netherlands)
- Heritage Home Group (USA)
- Homecrest Outdoor Living, LLC (USA)
- KETTAL GROUP (Spain)
- Royal Botania NV (Belgium)
- The Home Depot, Inc. (USA)
- The Keter Group (Israel)
- Treasure Garden Inc. (USA)
- Trex Company, Inc. (USA)
- Winston Furniture Co. Inc. (USA)
- Yotrio Corporation (USA)
For more information about this report visit https://www.researchandmarkets.com/r/8imnam
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