According to a new report published by UnivDatos Markets Insights, the Outdoor Furniture Market was valued at more than USD xx million in 2020 and is expected to grow at a CAGR of around 6% from 2022-2028. The analysis has been segmented into Product (Tables, Chairs, Dining Sets, Loungers & Daybeds, Others); Material (Metal, Plastic, Wood, Textile); End-User (Residential, Commercial); Sales Channel (Online, Offline); Region/Country.
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The outdoor furniture market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the outdoor furniture market. The outdoor furniture market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the outdoor furniture market at the global and regional levels.
Market Overview
The growing demand for outdoor furniture can be attributed to the increased demand for various outdoor furniture products from commercial sectors such as offices, clubs, etc. For instance, January 2019: Bernhardt Furniture launched 50 high-quality and comfortable luxury designs of sofas, dining tables, and chairs suitable for the entire lawn space, terrace, and patio. Moreover, the increasing demand for aesthetically appealing furniture and the increasing per capita income of consumers is fueling the growth of the outdoor furniture market. Furthermore, due to changing consumer preferences, outdoor furniture is highly used in gardens, conferences, etc. are expected to drive the market for outdoor furniture market in the coming years.
Some of the major players operating in the market are Dedon, Unopiu, Ace Hardware, Steelcase, Herman Miller Inc., Ashley Furniture Industries, Sun Garden GmbH, IKEA, Tuuci, Century Furniture.
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COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. Companies face physical challenges in meeting their channel vendors and suppliers and finalizing business deals due to lockdown restrictions in various countries around the world. This will have a significant impact on the product revenues of the key companies. Furthermore, the closure of upholstery shops and the scarcity of raw material supplies as a result of lockdown restrictions are severely impeding global product consumption rates. People, on the other hand, prefer to spend their time indoors to avoid becoming infected with coronavirus. This will shift consumer behaviors toward maintaining personal hygiene and engaging in luxury and leisure activities indoors, increasing demand for such products among residential consumers.
The global outdoor furniture market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on the end-user, the market is fragmented into residential and commercial. The residential segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period because of the increased consumption of lawn and balcony fixtures in homes and apartments Furthermore, growing consumer preferences for home renovation and modification have necessitated a greater consumption of sustainable fixtures that enhance the beauty of the surroundings while also playing an important role in the family's health and well-being.
· Based on the sales channel, the market is fragmented into online and offline. The online segment grabbed a considerable market share and is expected to grow at a significant CAGR during the forecast period. Various online furniture-selling platforms, such as Pepperfry, Home Center, and Urban Ladder, are rapidly expanding. Businesses must begin selling their products through these channels to survive in the market in the coming years. To maximize quality and gain a competitive advantage over their competitors, leading companies offer their products on their own websites and have their own supply chain systems.
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Outdoor furniture Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
The Asia Pacific constitutes a major market for the outdoor furniture industry owing to the increasing popularity of various furniture products among consumers, increasing construction projects, urbanization, and the rise in disposable income of the consumers in this region.
The major players targeting the market include
· Dedon
· Unopiu
· Ace Hardware
· Steelcase
· Herman Miller Inc.
· Ashley Furniture Industries
· Sun Garden GmbH
· IKEA
· Tuuci
· Century Furniture
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the outdoor furniture market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the outdoor furniture market?
• Which factors are influencing the outdoor furniture market over the forecast period?
• What are the global challenges, threats, and risks in the outdoor furniture market?
• Which factors are propelling and restraining the outdoor furniture market?
• What are the demanding global regions of the outdoor furniture market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
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Outdoor furniture Market Report Coverage
Report Attribute
Details
Base year
2021
Forecast period
2022-2028
Growth momentum
Accelerate at a CAGR of over 6%
Market size 2020
USD xx billion
Regional analysis
North America, Europe, APAC, Rest of the World
Major contributing region
Asia Pacific to Dominate the Global Outdoor Furniture Market
Key countries covered
United States, Canada, Germany, United Kingdom, Spain, Italy, France, China, Japan, India, and Australia
Companies profiled
Dedon, Unopiu, Ace Hardware, Steelcase, Herman Miller Inc., Ashley Furniture Industries, Sun Garden GmbH, IKEA, Tuuci, Century Furniture
Report Scope
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling
Segments Covered
By product; By material; By end-user; By sales channel; By Region/Country
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analyses, and customized reports that help shape winning business strategies for our clients.
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