NEW YORK, United States, Aug. 04, 2022 (GLOBE NEWSWIRE) -- According toFacts and Factors has published a new research report titled "Outdoor Furniture Market Size, Share, Growth Analysis Report By Material (Wood, Metal, Plastic, Textile, Others), By Product (Chairs, Tables, Seating Sets, Dining Sets, Loungers & Day Beds, Others), By End-User(Residential, Commercial), By Price Range (High End, Medium, Low), and By Region - Global Industry Insights, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028" in its research database.
"According to the latest research study, the demand of global Outdoor Furniture Market size & share in terms of revenuewas valued at USD 15.9 billion in 2021 and it is expected to surpass around USD 22.17 billion mark by 2028, growing at a compound annual growth rate (CAGR) of about 5.7% during the forecast period 2022 to 2028."
The term "outdoor furniture" refers to pieces of furniture that are designed to be used in environments that are exposed to the elements, such as public areas, gardens, porches, terraces, etc. Due to the fact that it is designed to resist the extreme conditions of an outdoor setting, this furniture is not the same as conventional furniture. The tourism and hospitality industries are growing at a rapid rate, which is driving up demand for outdoor furniture because it is commonly used in hotels and other tourist hotspots to improve the experience that visitors have there.
During the duration of the forecast, the potential of the market for outdoor furniture will be influenced by factors such as an increase in foreign travel and a paradigm shift in customer preferences.
Get a Free Sample PDF of this Research Report for more Insights with a Table of Content, Research Methodology, and Graphs - https://www.fnfresearch.com/sample/outdoor-furniture-market
(A free sample of this report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 219+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
Market Growth Dynamics
Demand for outdoor furniture is majorly influenced by rising disposable income and changing consumer preferences on a global scale. Outdoor furniture is used in public spaces in commercial applications and with changing consumer preferences and rising standards of living these ate highly popular in residential settings as well. Increasing use of outdoor furniture in tourism and hospitality applications is also anticipated to propel outdoor furniture market potential in the years to come. The rising focus on luxury living will also plays a crucial role in shaping the outdoor furniture market potential.
While the market will see expansion at a steady pace it will also face challenges in providing affordable and cost-effective options to maximize market penetration. However, high costs of outdoor furniture are expected to have a hampering effect on the global outdoor furniture market potential over the forecast period.
Browse the full "Outdoor Furniture Market - Global Industry Insights, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028" Report at https://www.fnfresearch.com/outdoor-furniture-market
Outdoor Furniture Market: COVID-19 Impact Analysis
The pandemic that occurred in 2020 caused significant changes in the functioning of numerous markets, and the majority of these adjustments caused enterprises to incur losses. A number of production facilities, as well as sales and distribution channels, will be closing their doors by the year 2020, which will have a detrimental effect on the market for outdoor furniture and cause a downward trend in growth. This was because of the widespread implementation of shutdown procedures all around the world in an effort to stop the spread of the coronavirus illness. Travel restrictions and fewer opportunities for outdoor recreation both exacerbated the situation for the outdoor furniture market. As the world begins to return to normal and limitations are relaxed, it is anticipated that the market for outdoor furniture will gradually make a comeback in the era following the pandemic. As foreign travel returns to its typical pattern, the market for outdoor furniture will also experience an evolution in demand for its products.
Outdoor Furniture Market: Segmentation Analysis
In terms of material, the wood segment accounted for a major market share and is expected to keep this stance through the forecast period. This is the preferred material for manufacturing across the world and hence is expected to account for nearly 60% of the global outdoor furniture market share. The rising use of wood in commercial and residential settings is also expected to boost the demand for this segment.
The residential segment held a dominant outlook by accounting for around 58% of the global market share and is expected to hold this stance through the forecast period as well. The commercial segment is anticipated to rise at a faster CAGR than the residential segment and this will be driven by the rising number of hotels and resorts to accommodate the growing tourism and hospitality industry across the world.
The global Outdoor Furniture market is segmented as follows:
- Seating sets
- Dining sets
- Loungers & day beds
By Price Range
- High end
Directly Purchase a copy of the report with TOC @ https://www.fnfresearch.com/buynow/su/outdoor-furniture-market
The report contains qualitative and quantitative research on the global Outdoor Furniture Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main competitors dominating the global Outdoor Furniture market include -
- Ace Hardware
- Haworth, Inc.
- Herman Miller, Inc.
- Ashley Furniture Industries
- Knoll, Inc.
- Sun Garden GmbH
- The Home Depot, Inc.
- Tuuci, Royal Botania NV
- Molteni& C.
- B&B Italia SpA
- Century Furniture
- Williams-Sonoma, Inc.
- Brown Jordan
- Dorel Industries
- Forever Patio
- Patio Furniture Industries, Inc.
- Hartman UK
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Outdoor Furniture market is likely to expand at a CAGR of around 5.7% during the forecast period (2022-2028).
- In terms of revenue, the Outdoor Furniture market size was valued at around US$ 15.9 billion in 2021 and is projected to reach US$ 22.17 billion by 2028.
- Based on material segment, the wood segment accounted for a major market share as most of the furniture is made using wood as the base material.
- Around 58% of the global market's share was owned by the residential sector, giving it a commanding lead.
- On the basis of geography, North America made up about 35% of the global outdoor furniture market.
Key questions answered in this report:
- What is the market size and growth rate forecast for Outdoor Furniture industry?
- What are the main driving factors propelling the Outdoor Furniture Market forward?
- What are the leading companies in the Outdoor Furniture Industry?
- What segments does the Outdoor Furniture Market cover?
- How can I receive a free copy of the Outdoor Furniture Market sample report and company profiles?
Have Any Query? Ask Our Experts: https://www.fnfresearch.com/inquiry/outdoor-furniture-market
The North American outdoor furniture market is expected to lead the global outdoor furniture industry and is anticipated to account for a major market share of over 35%. The high spending potential of consumers in this region and the presence of key outdoor furniture manufacturers are expected to boost the demand for outdoor furniture in this region over the next few years. The United States will see the most lucrative growth opportunities in this region owing to the high spending capacity of consumers. Europe will emerge as the second most lucrative market for outdoor furniture owing to rising disposable income and a flourishing tourism industry.
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Request for Customization on this Report as per your requirements - https://www.fnfresearch.com/customization/outdoor-furniture-market
(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)
|Market Size in 2021||USD 15.9 Billion|
|Projected Market Size in 2028||USD 22.17 Billion|
|CAGR Growth Rate||5.7% CAGR|
|Key Market Players||Dedon, Unopiu, Ace Hardware, Haworth, Inc., Steelcase, Herman Miller, Inc., Ashley Furniture Industries, Knoll, Inc., Sun Garden GmbH, The Home Depot, Inc., IKEA, Tuuci, Royal Botania NV, Molteni& C., B&B Italia SpA, Century Furniture, and Others|
|Key Segment||By Material, Product, End-User, Price Range, and Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa|
|Purchase Options||Request customized purchase options to meet your research needs.|
To know an additional revised 2022 list of market players, request a sample report: https://www.fnfresearch.com/sample/outdoor-furniture-market
- Market Size & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Material, Product, End-User, Price Range, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Browse Other Related Research Reports from Facts & Factors:
- Global Wearable Technology Market: Global wearable technology market will expand at a CAGR of 18.5% during the next five years. By 2028
- Global Bicycle Frames Market: Global Bicycle Frames Market Share Is Anticipated To Grow At A CAGR Of Approximately 5.9% By 2028
- Global Mosquito Repellent Market: The size of the global mosquito repellent market is anticipated to reach $9.7 billion by 2028
- Global Car Care Products Market: Revenue on the Global Car Care Products Market Is Anticipated to Approach USD 13.7 Billion by 2028
- Global Condom Market: By the end of 2026, the global condom market will be worth around USD 9,600.4 million
- Global Corporate Travel Insurance Market: By 2026, the global corporate travel insurance market is anticipated to generate revenues of around USD 17 billion
About Facts & Factors:
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds.
Our client's/customer's conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
Follow Us on LinkedIn: https://www.linkedin.com/company/fnfresearch
Follow Us on Twitter: https://twitter.com/fnfresearch
Follow Us on Facebook: https://www.facebook.com/factsandfactors/
USA: +1 347 690-0211
United Kingdom: +44 2032 894158
Japan: +81 50 5806 9039
India: +91 73877 19999
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.