Outdoor furniture, also known as patio or garden furniture, comprises items specifically designed for outdoor use, providing comfort and functionality to outdoor spaces.
The outdoor furniture market consists of sales, by entities (organizations, sole traders, or partnerships), of outdoor furniture products that are used in various outdoor settings, including patios, gardens, balconies, terraces and public parks, enhancing the aesthetic appeal and usability of these areas.
The global outdoor furniture market was valued at $41,490.9 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 3.0%.
Government Initiatives For Furniture Manufacturing
The outdoor furniture market was driven by various government initiatives aimed at strengthening the furniture industry. Governments offer financial support to furniture manufacturers, allowing them to invest in superior materials, advanced production technologies and effective marketing strategies. This assistance helps lower production costs, resulting in more competitive pricing and higher-quality products in the market. For instance, in 2020, the government of India announced that the Department for Promotion of Industry and Internal Trade is aiming to develop of a furniture cluster and is working to import wood at affordable rates, thus supporting the home office furniture market in the country. Therefore, favorable government initiatives for the furniture industry boosted the outdoor furniture market during the historic period.
Introduction Of Dual-Purpose Sofas And Chairs
The introduction of dual-purpose sofas and chairs is a key trend in the outdoor furniture market. Companies operating in the outdoor furniture market are focusing on dual-purpose sofas and chairs for use in both indoor and outdoor spaces. For instance, in July 2023, Kaja Interiors, a US-based company that provides interior design services, launched a new collection of sofas and chairs that can be used both indoors and outdoors. It features a teak chair and terrace bench, versatile pieces that can effortlessly complement different environments while creating a unified aesthetic. This collection is designed to enhance the decor of any hotel, seamlessly blending sturdy designs with inviting and airy summer furniture.
The global outdoor furniture market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up 12.14% of the total market in 2023.
Outdoor Furniture Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global outdoor furniture market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for outdoor furniture? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The outdoor furniture market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider outdoor furniture market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by product, by material type and by end-user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the outdoor furniture market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by product, by material type and by end-user in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for outdoor furniture providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Product: Seating Sets; Loungers; Dining Sets; Chairs; Table; Other Products
- 2) By Material Type: Wood; Metal; Plastic; Other Material Types
- 3) By End-User: Residential; Commercial
- Companies Mentioned: Keter; Ashley Global Retail LLC; Home Depot Product Authority LLC; Inter IKEA Systems B.V.; Brown Jordan Inc.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; outdoor furniture indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.