Outdoor Furniture Market - Trends Research and Growth Projections to 2024
Category: #reports  By Rahul Varpe  Date: 2020-04-16
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Outdoor Furniture Market - Trends Research and Growth Projections to 2024

Outdoor furniture market growth from the commercial sector is projected to experience an upward trend in the coming years owing to burgeoning purchase by hospitality companies, business hubs, sports complexes, and municipal gardens. Commercial properties with gardens, pools, outdoor sitting spaces, open-air restaurants, and beaches are the vital revenue pockets of this market. Rising consumer spending on travel and tourism activities has given rise to growth opportunities for the hospitality and recreation industry, which has, in turn, benefitted the outdoor furniture demand from the commercial segment. Hotel consumers have started to impart importance to the ambience, as a result of which the number of sea-side restaurants, pool-side cafes, and terrace restaurants has increased multifold, consequently bolstering the growth of the outdoor furniture market from commercial applications.

The overall Outdoor Furniture Market is slated to depict a valuation of USD 23 billion by 2024, having registered a remuneration of USD 16 billion in 2017.

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Market Growth Drivers –

  1. Rapid expansion of product portfolio & distribution network
  2. Socialization accompanied by increasing consumer spending on leisure & experiences

Developed nations in North America and Europe are set to offer significant profit generation opportunities to global manufacturers owing to increasing per capita income, shifting lifestyle patterns, and the rising trend of organizing family get-together & dinners in home gardens. In addition to this, the growth in geriatric population will trigger demand for comfort-enhancing outdoor furniture products such as recliners, loungers, adjustable seats, and day beds. In general, there has been a surge in the willingness to spend on luxurious furniture items among homeowners which is adding impetus to the outdoor furniture market growth from residential applications.

The global outdoor furniture market has experienced a noteworthy upsurge in the last few years, chiefly influenced by an improvement in the standards of living. The industry trends have also undergone a change of dynamics on account of the availability of countless furnishing options and burgeoning expenditure on exterior decor, especially by urban population.

With the surging popularity of outdoor living spaces, the concept of outdoor housing has ascended as a prominent trend. Without a doubt, the outdoor homing trend has increased sales of outdoor furniture, especially patio furniture ranges. For example, nowadays spacious lounges and wide armchairs are a common choice for large patio furniture landscapes amid comfort-seekers.

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Top Companies

Ace Hardware, Century Furniture, Forever Patio, Dedon, EMU Group S.p.A., Haworth, Inc., Roda Srl, Sun Garden GmbH, The Home Depot, Inc., Unopiu, Hartman UK, IKEA, Plaisir Du Jardin, Ltd., Royal Botania NV, Outdoor's India, Patio Furniture Industries, Inc., Treasure Garden, Inc., Homecrest Outdoor Living, Yotrio Corporation, Trex Company, Sunset West, Brown Jordan, Hospitality Rattan, Zuo Modern, Alfresco Home, Keter Plastic, Tuuci, Lloyd Flanders Industries Inc., Woodard, Formica Limited, Danzer Group, Klausner Group, Mijatovic Ltd, Ark Furniture Wholesale, Maze Rattan Wholesale Garden Furniture, JAF, LLC YWOOD, Solgarve, Fischer Mobel GmbH, DEDON GmbH, Gloster, Kettal, Shouguang Bailing Wood Industry Co. Ltd., Linyi Haisen Wood Co. Ltd., Shouguang Sunrise Industry Co. Ltd., Linya Group, Mr'Dream, Jayaraj International Private, OPM International Pvt. Ltd., Barbeques Galore Pty Limited, Western Timber Traders, Artie Hospitality, Inc., Agio International Company Limited, Hillwood Traders, Silver Toss Industries Pvt. Ltd.

Split by product type, the market has been divided into

  1. Chairs
  2. Tables
  3. Seating Sets
  4. Dining Sets
  5. Loungers & Daybeds

The report includes a lot of details pertaining to the production, growth rate of each segment, remuneration, price, as well as segmental market share.

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What are the key takeaways of this report?

  1. A well-detailed evaluation of the pricing trends has been given in the report, pertaining to the product, application, as well as regional landscapes
  2. A well-detailed analysis of the vendor matrix alongside the important companies that will help to better understand the competitive scenario in the global market
  3. Important insights pertaining to the regulatory spectrum surrounding the industry, along with the investments by many shareholders in the global market
  4. A significantly deep evaluation of the many parameters propelling the overall market growth in combination with their influence on the projection as well as dynamics of the global market
  5. A detailed understanding of the numerous available growth opportunities in the global industry
  6. An extensive evaluation of the various trends prevailing in the global business space

About Author

Rahul Varpe

Email: [email protected]   

Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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