According to a recent report by Fact.MR, a market research and competitive intelligence provider, the global outdoor garden furniture market is projected to surpass a valuation of US$ 2.2 Bn in 2021, rising at a CAGR of around 7.6% through the end of 2031.
The market is projected to witness surge in demand owing to various factors such as rapid urbanization, expansion of the middle-class population, and infrastructural development throughout the world. Rising consumer preference for unique home décor that takes up minimal space is a key factor for the surge in global outdoor garden furniture sales. Moreover, the manufacturing of outdoor garden furniture has increased over the past few years, thus providing a push to overall demand.
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Key Takeaways from Market Study
The North America market is estimated to top a valuation of US$ 2 Bn by 2031.
The Europe market is estimated to register a CAGR of 7.5 % over the forecast period.
Strong production footprint of key market players in China has allowed it to hold the highest market share of 46.9 % in the East Asia outdoor garden furniture market.
The outdoor garden furniture market is segmented based on material, where the wood segment holds a high share of 20.2%.
By product type, 41.4% people prefer dining sets and 31.8% of consumers prefer seating sets.
“To attract consumers, manufacturers are turning their focus towards producing multi-purpose furniture. Major companies are anticipated to innovative products and develop strong logistics networks to ensure easily availability of outdoor furniture,” says a lead analyst at Fact.MR.
The fragmented market for outdoor garden furniture invites an immense number of players operating at various levels. Increased number of players intensifies the competition in the market, which encourages prominent players to indulge in various strategies in a bid to better position themselves. Some of the noteworthy developments in the global outdoor garden furniture market are:
- Trex invented composite decking 3 decades ago and is an industry leader in that category since then. The company won the 2021 Golden Hammer Award for its innovative product that reduces the installation time of decks and increases efficiency
- Steelcase, on March 10, 2021, announced the introduction of over 40 products designed specifically to cater to changed consumer preference post pandemic. The pandemic has changed the office expectation of consumers as many companies are exploring hybrid work models, which means embracing new ways of working in the office.
Key Segments Covered in Outdoor Garden Industry Survey
Outdoor Garden Furniture Market by Product Type
- Outdoor Garden Tables
- Coffee Tables
- Side Tables
- Bistro Tables
- Picnic Tales
Outdoor Garden Chairs
- Patio Swings
- Porch Swings
Outdoor Garden Dining Sets
Outdoor Garden Seating Sets
Outdoor Garden Furniture Accessories
- Furniture Covers
Outdoor Garden Furniture Market by Material
- Plastic Outdoor Garden Furniture
- Metal Outdoor Garden Furniture
- Wooden Outdoor Garden Furniture
Outdoor Garden Furniture Market by Sales Channel
- Independent Furniture Stores
- Franchised Furniture Stores
- Modern Trade
- Furniture Retail Chains
- Brand Outlets
Outdoor Garden Furniture Market by Region
- North AmericaOutdoor Garden Furniture Market
- Latin America Outdoor Garden Furniture Market
- Europe Outdoor Garden Furniture Market
- East Asia Outdoor Garden Furniture Market
- South Asia Outdoor Garden Furniture Market
- Oceania Outdoor Garden Furniture Market
- Middle East Africa Outdoor Garden Furniture Market
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