PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1517500
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1517500
Global Outdoor Decor Market is valued at approximately USD 84.28 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 3.61% over the forecast period 2024-2032. Outdoor decor encompasses a broad range of products, elements, and design features aimed at enhancing the aesthetics, functionality, and ambiance of exterior spaces, including gardens, porches, balconies, and other outdoor areas. This market includes an array of goods such as furnishings, lighting, and additional accessories, along with outdoor textile products such as rugs and cushions and landscape decorative items such as plants, stones, and fountains.
The Global Outdoor Decor Market is driven by advancements in fabric technologies and innovative designs lead to more functional and aesthetically pleasing outdoor decor products. The growing middle-class population and real estate sector are major factors propelling the market. In addition, the increasing consumer spending on outdoor decor products due to rapid industrialization and urbanization significantly boosts eco-friendly and sustainable materials in outdoor decor products further enhances consumer appeal. Moreover, the rise of e-commerce platforms and the increased preference for personalized outdoor decor solutions present lucrative opportunities for market players. However, the market faces challenges such as fluctuations in raw material prices and the high cost of premium outdoor decor products, which may impede growth.
The key regions considered for the Global Outdoor Decor Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific dominated the market in 2023, with China leading in terms of revenue due to the expanding middle-class population and the booming real estate sector. Moreover, the region's rapid development, fueled by industrialization and increased consumer spending on outdoor decor products, is expected to sustain market growth. Furthermore, North America is anticipated to develop at the fastest rate over the forecast period 2024-2032 due to the high demand for outdoor living spaces and home improvement projects.