Analysis of Outdoor Garden Furniture market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The outdoor garden furniture market was worth US$ 2 Bn in 2020, and is slated to expand at a CAGR of 7.6% to top US$ 4 Bn by 2031. The market is projected to offer an incremental opportunity of US$ 148 Mn through assessment period of 2021-2031.
North America is expected to contribute the highest share the global market, and this regional market is currently valued at US$ 782 Mn. Outdoor garden furniture sales account for 2% share of the global furniture market value.
|Outdoor Garden Furniture Market Size (2020A)||US$ 2 Bn|
|Projected Year Value (2031F)||US$ 4 Bn|
|Value CAGR (2021-2031)||7.6%|
|Collective Value Share (U.S., China, Germany): Top 3 Countries||25%|
|Key Companies Profiled||
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As per the detailed industry analysis by Fact.MR, a market research and competitive intelligence provider, the global outdoor garden furniture market expanded at 5.9% CAGR from 2016 to 2020.
As the economies revive and consumers resume travelling after the initial shocks of COVID-19, demand for outdoor garden furniture is expected to rise owing to consumer willingness to spend on furniture for decorating outdoor spaces. Consumers are projected to prefer outdoor garden furniture that is resistant to climate change, made of superior quality material, durable, and insect and crack proof.
Manufacturers are offering customisable outdoor furniture that goes with the architectural style and aesthetics of open spaces. Hotels and public gardens are expected to invest in outdoor furniture to attract visitors by offering delightful leisure experience in appealing sitting areas, cashing in on increased consumer preference for hotels and restaurants with beautifully decorated backyards where they can relax with their family.
Consumers are willing to spend on renovating old residential and commercial spaces, which is expected to drive demand for outdoor garden furniture. As such manufacturers should focus on offering decorative outdoor fittings that enhance the visual appeal of household backyards.
Sales of outdoor garden furniture are projected to surge at 7.6% CAGR over the decade.
Global environment change and the negative effects of deforestation have resulted in the trend of green design among interior designers. Adoption of sustainable production among furniture manufacturers owing to increasing customer demand for eco-friendly products is expected to surge demand for sustainable products using eco-friendly material, which is likely to create enormous opportunities in the global market.
Government norms and regulations appertaining to improvements in material usage in furniture manufacturing have set national as well as international standards for the industry. Regulatory bodies in various countries of North America and Europe have also laid regulations related to the fire safety standards of the material used for manufacturing outdoor garden furniture, thus influencing growth of the global market.
In North America, the U.S. has the highest value share contribution to overall market revenue. This is attributed to consumer willingness to spend on garden furniture to beautify their outdoor leisure area.
The U.S. holds a market share of 84.9% in the North American outdoor furniture market, and is anticipated to expand rapidly at a CAGR of 7% over the forecast period.
Demand for outdoor garden furniture in China has increased owing to factors such as rising per capita consumption and consumer willingness to spend on the renovation of residential and commercial infrastructures. Due to increase in urbanisation and scarcity of residential infrastructure in urban areas, consumers are looking for multi-purpose furniture that can fit in small house spaces.
Demand for outdoor garden furniture is valued at US$ 131.9 Mn in China. The country holds a share of 46.9% in the East Asia market, and is anticipated to expand rapidly at a CAGR of 10.9% through 2031.
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Consumers have become environmentally aware and are increasingly preferring outdoor garden furniture made from eco-friendly materials and not with chemicals and synthetic materials. As a result, demand for wood furniture has increased multi-fold because it is durable and has a natural and aesthetic appeal.
Outdoor furniture made from wood is lightweight, comfortable, and gives a homely vibe to outdoor spaces. Sales of outdoor furniture made of wood account for 31.8% market share.
Independent furniture stores account for prominent sales of outdoor garden furniture. During the projected period, however, Internet sales channels will be increasingly preferred by consumers due to ease of use and availability of various products.
Outdoor garden furniture suppliers are focusing on increasing their online footprint as it has proved beneficial to already established players in terms of revenue generation. According to Fact.MR, online outdoor garden furniture sales are projected to rise at a CAGR of 6% over the decade.
The fragmented market for outdoor garden furniture invites an immense number of players operating at various levels. Increased number of players intensifies the competition in the market, which encourages prominent players to indulge in various strategies in a bid to better position themselves. Some of the noteworthy developments in the global outdoor garden furniture market are:
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The global outdoor garden furniture market is currently worth over US$ 2.2 Bn.
Outdoor garden furniture demand is forecasted to surpass US$ 4 Bn by the end of 2031.
Sales of outdoor garden furniture increased at 5.9% CAGR over the past half-decade.
Key suppliers of outdoor garden furniture are Herman Miller, Inc., Inter IKEA Systems B.V., Trex Company, Inc., Steelcase, Inc., Kimball International, Inc., and Keter Plastic Ltd.
Outdoor garden furniture sales in North America are anticipated to account for a share of 52% in the global market.
Independent furniture stores and e-Commerce are the most preferred sales channels for outdoor garden furniture.
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