Aesthetic and Ergonomic Outdoor Garden Furniture to Support the Growth of its Market
A newly published report by Fact.MR shows that the outdoor garden furniture market is likely to create significant opportunities in the global market. The market is expected to showcase an impressive growth with a CAGR of ~7% throughout the forecast period, creating remunerative opportunities for the key players competing in the market place.
The global outdoor garden furniture market value is estimated to reach ~US$ 2 Bn by 2019 end. The shift in consumers’ preferences regarding the usage of unique and aesthetic furniture for their gardens is majorly influencing the outdoor garden furniture market growth. The increasing number of gardens in corporate, commercial, and residential settings is providing a push to the demand for outdoor garden furniture.
In purchasing aesthetic and relaxing garden furniture for the home décor, consumers are willing to spend extra money without giving it a second thought. This eventually encourages manufacturers to bring in new products in the outdoor garden furniture market. The impulsive product launch activity by manufacturers boosts the global outdoor garden furniture market growth.
Moreover, attractive designs and advanced features are factors that are likely to have a healthy influence on the growth of the global outdoor garden furniture market. Also, the arrival of garden furniture with multipurpose functionalities is expected to bolster the growth of the global outdoor garden furniture market.
The changing habit of performing recreational activities in open spaces also gives rise to the need for outdoor garden furniture, which is expected to push the global market growth. Increase in per capita consumption of furniture in key countries is also predominantly influencing the growth of the global outdoor garden furniture market.
Moreover, the rising number of local manufacturers is also one of the prominent factors that drives the market growth for the outdoor garden furniture. Rapidly increasing urbanization globally, has bolstered the infrastructural development in several regions across the globe. The shift in the infrastructural designs has aided in the development of unique and extraordinary household decor furniture, which does not take up much space.
Thus, it creates prominent opportunities in the global outdoor garden furniture market. Various manufacturers of furniture are tapping into opportunities that arise from the green and sustainable housing trends.
Also, the shift in the consumer preferences for the outdoor garden furniture in terms of design, size, and material is also encouraging manufacturers to focus on research and development of new products.
Sustainable Production an Ongoing Trend in the Outdoor Garden Furniture Market
There has been an adoption of sustainable products by furniture manufacturers owing to increasing customers’ demand for eco-friendly products. Environment changes and the negative effects of deforestation have created a trend of green design by interior designers, which represent the responsibility towards the sustainable environment.
The inclination towards environment-friendly and sustainable products boosts the demand for outdoor garden furniture that are manufactured using eco-friendly material.
The government norms and regulations appertaining to improvements in material used in manufacturing furniture have set national as well as international standards for the industry.
The regulatory bodies in various countries have laid down regulations related to the fire safety standards of the material used for manufacturing outdoor garden furniture, thus, influencing the growth of the global market.
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Adoption of Multipurpose Outdoor Garden Furniture will be a Potent Driver in the Outdoor Garden Furniture Market
Expansion in the household sector is experiencing a dispersed scenario where the demand for outdoor garden furniture is expected to rise in the developed countries and is likely to slow down in the developing countries.
Owing to the increased per capita disposable income and middle income group population, the preference for vertical apartments and luxurious housing is rising. People are inclined towards decorating their houses and balconies.
This has led to the adoption of vertical gardens. Miniaturization in residential settings aids the usage of outdoor garden furniture for multipurpose functionalities Manufacturers are launching products like convertible benches, foldable tables, and smart side tables, among others.
Innovative Practices for Aesthetic Furniture is a Hidden Opportunity for Manufacturers
Seating sets in outdoor garden furniture is likely to boost the global market growth, owing to the increasing demand for comfort even in the outdoor settings. Consumers, these days, prefer to use outdoor furniture that provides the same level of comfort as that of the indoor furniture.
Therefore, it is propelling the demand for seating sets in the global outdoor garden furniture market. Moreover, the usage of wood in manufacturing outdoor garden furniture is gaining traction among the key manufacturers.
Wood is considered as the first preference of key manufacturers in manufacturing sustainable furniture, and enable consumers to achieve the benefit of using eco-friendly furniture with aesthetic appeal as well.
Consumers’ preferential shift towards the usage of outdoor garden furniture made from wood is likely to bolster the growth of the outdoor garden furniture market during the forecast period. Additionally, the climatic conditions of countries also impact the demand for outdoor garden furniture.
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Consumers’ Preference of Local Players over Global Manufacturers is a Key Dynamic in the Outdoor Garden Furniture Market
The outdoor garden furniture market is attracting various local and domestic level players. Only a handful of manufacturers operate at the global level. Owing to the difference in the consumer preferences and tastes, consumers opt for the domestic players rather than the global manufacturers for their purchases of outdoor garden furniture.
This provides a substantial leverage to the local players over prominent ones thus impacting the overall trade scenario prevailing in the global outdoor garden furniture market. Owing to consumer preferences for online shopping and independent furniture stores, the penetration of these sales channels is increasing in various countries.
These independent stores provide a variety of furniture products under one roof and offer heavy discounts to be availed by consumers. Therefore, all these factors are likely to surge the global demand for outdoor garden furniture over the forecast period.
Intense Competition to Have a Positive Impact on the Market
The market for outdoor garden furniture consists of an immense number of players in the market operating at various levels.
The increased number of players intensifies the competition in the market, which encourages the prominent players to indulge in various strategies in a bid to position themselves in the global market. Some of the noteworthy developments in the global outdoor garden furniture market are as follows:
In 2019, IKEA announced its collaboration with well-known artists, fashion, and tech designers from across the world to celebrate the IKEA Democratic Design Process.
In 2019, Ingka Group accelerated its investments in renewable energy as part of its mission to become climate positive by 2030.
In 2017, Homecrest launched a soluble layer sling for outdoor usage.
In 2017, ASDA launched a new range of garden furniture.
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Global Outdoor Garden Furniture Market: Segmentation
A table has been provided below on the basis of product, material, sales channel, and region in the global outdoor garden furniture market.
Global Outdoor Garden Furniture Market – Scope of the Report
The global outdoor garden furniture market has shown an impressive growth during the forecast period of 2019 to 2029, according to a new Fact.MR study. The study provides the key trends that are currently shaping the growth of the global outdoor garden furniture market.
This newly published insightful report sheds light on the key dynamics, which are foreseen to transform the future of the global outdoor garden furniture market. This, in turn, is likely to create lucrative opportunities for incumbents as well as emerging players associated with the global outdoor garden furniture market.
The global outdoor garden furniture market report is an intricate market intelligence on the key growth determinants, challenges, market trends and opportunities, which influence the graph of the global outdoor garden furniture market eventually.
The report initially imparts an overview of the global outdoor garden furniture market, considering current and future furniture prospects to unveil attractive verticals appertaining to the adoption of outdoor garden furniture across key regional markets.
An inclusive assessment on the key outdoor garden furniture manufacturers profiled in the report enables the reader to gain thorough insights that have been derived from the business performance across the regional markets.
A list of key companies operating in the global outdoor garden furniture market provided in the report adds to the credibility of this comprehensive research study.
Global Outdoor Garden Furniture Market: Opportunity Analysis
The study provides a detailed intelligence on factors influencing the demand, sales, and revenue generations within the global outdoor garden furniture market around the world. The opportunity analysis included in the report is helpful for readers to find white spaces in the global outdoor garden furniture market, which in turn, triggers the adoption of outdoor garden furniture as a choice for the furniture manufacturers.
A refined cost structure analysis provides the report with an innate completeness, and the study offered on the cost structure involves all the regional markets.
A detailed forecast on the global outdoor garden furniture market has also been offered by experts, who have categorized the market forecast into a likely, conservative and an optimistic scenario based on the adoption and involvement of the global outdoor garden furniture market throughout the forecast period.
Analysis and assessment of price point by region has also been included in the study. The research study also exerts details on the aspect that impact the strategy of manufacturers in the global outdoor garden furniture market.
Global Outdoor Garden Furniture Market: Analysis on Market Size Evaluation
Market valuation at global and regional scale for the outdoor garden furniture market is depicted in terms of “US$ Mn”. A Y-o-Y growth comparison on the key outdoor garden furniture market segments, along with the market attractiveness assessment quantifies insights that are delivered in the report.
Metrics mentioned above are also tracked based on outdoor garden furniture consumption across several regions where outdoor garden furniture witnesses a growing demand.
Global Outdoor Garden Furniture Market: Scrutinized Assessment on Regional Segments
Weighted chapters have been included in the report on the outdoor garden furniture market. These chapters impart forecast on the regional markets recognizing the regional macros (business, economic and political environment outlook), which are expected to have an impact on the growth on the global outdoor garden furniture market in the near future.
Country-specific assessment on the demand for outdoor garden furniture have also been provided for each regional market, along with the market size valuation, price point assessment, price index, and impact analysis of key regional and country-wise dynamics. A Y-o-Y growth projections have also been offered on all regional markets.
Global Outdoor Garden Furniture Market: In-depth Analysis on Competitive Landscape
The report concludes with a weighted chapter on the competition landscape considering up-to-date and essential developments related to the market players, who predominantly engage in the production and distribution of outdoor garden furniture.
A comprehensive SWOT analysis on each player is also identified together with the company strategies, identification, and analysis. Market share comparison and analysis of these market players offered in the report enables the reader to devise strategies for their businesses.
The intensity mapping of the market players operating in the global outdoor garden furniture market provides readers with actionable intelligence, which helps in understanding the current market status and prospects determining the competition levels in the global outdoor garden furniture market.
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