Global Outdoor Furniture Market By Product Type (Wooden Products, Plastic Products, Metal Products), By End-Use (Residential, Commercial), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

Increasing disposable incomes across the globe have resulted in increased spending on home renovations, as well as other home furnishing activities. This factor is also slated to have a profound influence on this sector’s revenue growth prospects in the years to come.

Market.US announces publication of its most recently generated research report titled, “Global Outdoor Furniture Market by Product Type (Wooden Products, Plastic Products, Metal Products), By End-Use (Residential, Commercial), and by Region – Global Forecast to 2031”, which offers a holistic view of global outdoor furniture market through systematic segmentation that covers every aspect of the target market.

The global outdoor furniture market is projected to be US$ 19,758.7 Mn in 2021 to reach US$ 32,846.9 Mn by 2031 at a CAGR of 17.6%.

Furniture can be used for both indoor and outdoor purposes. Outdoor furniture is also known as garden furniture or patio furniture. It is a type of furniture that is specifically designed for outdoor use and can be used for both ornamental and functional purposes. It is typically made from weather-, and water-resistant materials. The oldest examples of outdoor furniture were found in the gardens of Pompeii. This type of furniture must be capable of withstanding various outdoor elements such as rain, moisture, sun & temperature, wind, etc.

Rapid urbanization levels, coupled with booming urban populations have resulted in an increased number of residential and commercial infrastructure, as individuals are gradually transitioning to metro cities to gain an improved lifestyle. Most new residential structures are being developed with balconies, terraces, gardens, etc., which require a certain amount of outdoor furniture. Moreover, office complexes are developing aesthetically appealing outdoor settings. These factors are anticipated to further augment revenue growth prospects for the global outdoor furniture market.

Major manufacturers are expanding their business in developing regions. For example, the Inter Ikea Group has begun offering its services in countries such as India and China. In 2018, Ikea opened its first store in India, and the key reason behind its expansion was the rapid economic development of these countries. This business expansion in developing regions is anticipated to fuel opportunities for additional revenue growth in the years to come.

Changes in the environment, as well as the detrimental effects of deforestation, have led to an increased “Go Green” trend among numerous outdoor furniture manufacturers. These players are now focusing on using ecofriendly materials such as bamboo, rattan, recycled plastic, etc., which in turn is anticipated to positively impact market growth prospects.

However, economic and social disruptions caused by this pandemic have been devastating, with millions of people being subject to extreme poverty as a result. A growing number of individuals have lost their respective occupations, with many more potentially following suit in the months to come. As a result, several individuals have avoided the need to splurge on non-essential goods & services.

Moreover, a majority of hotels and restaurants have faced severe economic losses due to various respective lockdowns being enforced as a countermeasure to curb the trajectory of this virus. As a result of which, these business are now aiming to reduce overall spending on new furniture items.

Global Outdoor Furniture Market Attractiveness Analysis by Product Type, 2015–2031

Major manufacturers are expanding their business in developing regions. For example, the Inter Ikea Group has begun offering its services in countries such as India and China. In 2018, Ikea opened its first store in India, and the key reason behind its expansion was the rapid economic development of these countries. This business expansion in developing regions is anticipated to fuel opportunities for additional revenue growth in the years to come.

Global Outdoor Furniture Market Outlook (2015–2031)

The global outdoor furniture market is segmented accordingly – by product type, end-use, and by region. With respect to the product type aspect of this market’s segmentation, the wooden product sub-segment is anticipated to register the highest rate of revenue growth over the forecast period.

On the basis of the end-use segment, the residential sub-segment is slated to account for the highest number of revenue shares. With respect to segmentation by region, the markets in North America are projected to continue to account for the majority revenue share of the global outdoor furniture market.

Key industry players of the Global Outdoor Furniture Market are –

• Inter Ikea Holding B.V
• Williams-Sonoma Inc.
• Herman Miller Inc.
• Brown Jordan
• B&B ITALIA SPA
• Century Furniture
• Tropitone Furniture Company Inc.
• Barbeques Galore
• CocoWolf Ltd
• Ethimo
• Other Key Players

Segmentation for Global Outdoor Furniture Market Segmentation Based on Product Type, End-Use, and Region

Based on Product Type

• Wooden Products
  • Standalone Chairs & Tables
  • Seating Sets
  • Dining Sets
  • Loungers & Daybeds
  • Other Wooden Products
• Plastic Products
  • Standalone Chairs & Tables
  • Seating Sets
  • Dining Sets
  • Loungers & Daybeds
  • Other Plastic Products
• Metal Products
  • Standalone Chairs & Tables
  • Seating Sets
  • Dining Sets
  • Loungers & Daybeds
  • Other Metal Products

Based on End-Use

• Residential
• Commercial

Based on Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

For the Outdoor Furniture Market research study, the following years have been considered to estimate the market size: