Outdoor Furniture Market to grow by USD 1658.04 million between 2024-2028
According to a research report “ Outdoor Furniture Market” by Product (Outdoor furniture and accessories, Outdoor grills and accessories, Patio heating products ) Distribution Channel (Offline, Online ) End-user (Residential, Commercial ) Geography (North America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 1658.04 million at a CAGR of almost 3.64% during the forecast period. In the thriving outdoor furniture market, patio heaters hold a significant position, particularly in commercial applications. These heating solutions are essential for establishments such as pubs, party lounges, cafes, and restaurants, where they serve to amplify the ambiance of outdoor spaces and provide warm temperature zones. Free-standing and tabletop models are popular choices due to their aesthetic appeal. The surge in demand can be attributed to the increasing number of hospitality businesses with outdoor dining areas. Natural gas and propane patio heaters are preferred by commercial clients for their efficiency and reliability. The expanding hospitality sector fuels the sales volume of patio heaters. Major vendors, including The Home Depot Inc., cater to this market trend..
Browse market data tables, figures, and in-depth TOC on “Outdoor Furniture Market” by Product (Outdoor furniture and accessories, Outdoor grills and accessories, Patio heating products ) Distribution Channel (Offline, Online ) End-user (Residential, Commercial ) Geography (North America) Global Forecast to 2028.
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By Product, the Outdoor furniture and accessories segment is projected to dominate the market size in 2024.
In the realm of outdoor furniture market expansion, specialty retail stores represent a significant growth driver. Vendors are capitalizing on this trend by establishing their own retail outlets, thereby facilitating strategic brand building and promotional efforts. This approach enables more effective consumer engagement compared to relying on independent retailers. Notable hypermarkets and discount stores contributing substantively to the market include Walmart and Target Brands, generating a substantial portion of revenue for vendors through retail sales.
By Distribution Channel, Offline segment is expected to hold the largest market size for the year 2024.
The outdoor furniture and accessories market experiences significant growth due to the growing trend towards outdoor living and leisure activities. Consumers' shifting lifestyles prioritize contemporary and transitional designs that are easy to maintain, stylish, comfortable, and versatile. Williams-Sonoma Inc. caters to this demand with a comprehensive range of offerings, including lounge furniture, dining furniture, outdoor furniture, and accessories such as cushions and pillows, which protect metal furniture from summer heat.
North America is forecasted to hold the largest market size by region in 2024.
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The Outdoor Furniture Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Outdoor Furniture Market encompasses a wide range of products, including garden sofas, tables, seating sets, lounge chairs, and multifunctional furniture. These items are increasingly popular for social gatherings and leisure activities in both the residential and commercial sectors. The market's growth can be attributed to rapid urbanization, changing lifestyles, and the financial capacity of consumers to invest in environmentally friendly and aesthetically appealing fixtures. Product revenues are driven by consumer preferences for lightweight, durable, and sustainable materials. Channel vendors play a crucial role in bringing these products to market, offering a diverse portfolio of options for hotels and restaurants, as well as individual consumers. As luxury trends continue to evolve, the market for outdoor furniture is expanding to include patio heating products and other innovative solutions. Tourists and travelers contribute significantly to the market's growth, as they seek out unique and memorable experiences during their leisure activities. The consumption of outdoor furniture is a reflection of the rising living standards and the increasing importance of creating inviting and comfortable spaces for socializing and relaxation. The market's future looks bright, with continued innovation and a focus on sustainability shaping its trajectory.
Market Research Overview
The outdoor furniture market encompasses various segments, including plastic, metal, and wood, catering to diverse needs in dining sets, chairs, and other furnishings. Geopolitical tensions, labor costs, and transportation costs influence the material type selection. Plastic offers crackproof and corrosion-resistant solutions, while metal ensures durability and modern design. Wood, with its traditional handicraft appeal, adds decoration and cozy appeal to home renovation projects in urban homes. Outdoor furniture finds extensive use in balcony spaces, spacious dining areas, lawns, and gardens. Functionality and modern design are essential for common areas in commercial spaces and residential sectors. External influences, such as rain, cold temperatures, and heat, necessitate high-quality, eco-friendly outdoor furniture. Luxury trends and customer preferences drive product innovations in the seating segment, with ergonomic chairs and stacking chairs gaining popularity. Building construction and disposable income influence economic activity, leading to portfolio expansion in the outdoor furniture market. Consumption patterns change with rapid urbanization and changing lifestyles, leading to an increased focus on multifunctional products and environmental awareness. Outdoor spaces, including rooftop dining, kitchens, bars, and gardens, are essential for social gatherings, conferences, and meetups. Patio heating products and environmentally friendly fixtures cater to consumer spending and financial capacity. Tourists and hotels and restaurants contribute significantly to the market's growth.
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