Global Outdoor Furniture Market Size, Share, Growth Analysis, By Type(Chairs, and Tables), By Distribution Channel(Offline retail, and Online retail), By Material(Wood, Plastic) - Industry Forecast 2024-2031

Global Outdoor Furniture Market size was valued at USD 45.10 billion in 2022 and is poised to grow from USD 47.67 billion in 2023 to USD 74.28 billion by 2031, growing at a CAGR of 5.70% during the forecast period (2024-2031).

The global outdoor furniture industry is witnessing remarkable expansion driven by heightened demand in various sectors such as hotels, resorts, public gardens, and open spaces, with a notable surge in seaside areas, hill stations, scenic locales, and historical sites. This growth is further propelled by the increasing number of hotels and restaurants. Concurrently, consumers are increasingly focusing on improving the aesthetic appeal and comfort of outdoor spaces like balconies, gardens, and porches, thereby fostering industry advancement. Moreover, the residential sector is witnessing a surge in demand for outdoor furniture owing to rising disposable incomes, as homeowners invest in enhancing their outdoor areas. Selection criteria for outdoor furniture heavily consider climatic factors, with weather resistance, insect resistance, tensile strength, and crack-proof properties being key considerations. Additionally, the proliferation of outdoor dining facilities in global restaurants and cafes, exemplified by the adoption of on-premises outdoor dining, is significantly bolstering the demand for outdoor furniture. Furthermore, the online distribution channel is playing a pivotal role in fostering industry growth, offering a wide array of brands at competitive prices and attracting a larger customer base amidst the rapid digitization and increased internet connectivity. This shift from traditional brick-and-mortar transactions to e-commerce portals is reshaping the retail and furniture industries.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Outdoor Furniture Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Outdoor Furniture Market Segmental Analysis

The Global Outdoor Furniture market is segmented by packaging type, distribution channel, material, and region. Based on type, the market can be segmented into chairs, and tables. Based on distribution channel, the market is segmented into Offline retail, and Online retail. Based on material, the market is segmented into wood, plastic, and metal. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Outdoor Furniture Market

The surge in outdoor living popularity and the heightened desire for visually appealing, cozy outdoor furniture designs are pivotal factors propelling the global outdoor furniture market forward. Fueled by increasing disposable incomes and evolving consumer tastes, demand for outdoor furniture is on the rise across residential and commercial sectors, spanning hotels, resorts, cafes, and restaurants alike. Moreover, the market expansion is further fueled by the accessibility of a diverse range of outdoor furniture offerings designed to withstand external weather conditions and simplify maintenance requirements.

Restraints in the Global Outdoor Furniture Market

One significant limitation facing the global outdoor furniture market is the elevated price of premium outdoor furniture items, such as fire pit sets and conversation sets, which deters price-conscious consumers. This disparity in pricing compared to regular outdoor furniture products curtails their demand. Moreover, the market growth is further hindered by the fluctuating costs of raw materials like aluminum, wood, and plastic, essential for outdoor furniture production. Additionally, intensified competition among industry players and the presence of cheaper alternatives contribute to the challenges confronting market expansion.

Market Trends of the Global Outdoor Furniture Market

One prominent trend shaping the global outdoor furniture market is the growing embrace of sustainable materials and eco-conscious manufacturing methods. As environmental concerns gain momentum, consumers are showing a greater preference for outdoor furniture crafted from recycled materials or responsibly sourced wood. Moreover, manufacturers are prioritizing the reduction of their environmental impact through the utilization of renewable energy sources and eco-friendly production practices. Alongside this, there's a rising interest in versatile outdoor furniture pieces that serve multiple functions, catering to needs ranging from storage to seating.