Outdoor Furniture Market Size Grows by .73 Billion |  Market report highlights distribution channel, end user and product segments |  Technavio |

Outdoor Furniture Market Size Grows by $3.73 Billion | Market report highlights distribution channel, end user and product segments | Technavio |

New YorkAnd January 14, 2022 /PRNewswire/ – According to the research report “Outdoor Furniture Market – Forecast and Analysis Report 2021-2025The market will witness an annual growth rate of 2.26% in 2021, with a compound annual growth rate of 3% over the forecast period. The report is segmented by products (outdoor furniture and accessories, outdoor grills and accessories and patio heating products), end-users (residential and commercial) and channel Distribution (offline and online) and geography (North AmericaAnd Europeasia pacific, South Americaand MEA).

APAC is the largest outdoor furniture market. The growth of the APAC area can be attributed to the growth in the construction of the residential and commercial market in the area. In addition, countries like China And Japan It is expected to contribute to achieving the highest growth in the region, leading to further market growth.

Free sample offer: To learn more highlights and key points about different market segments and their impact in the coming years.

Seller Insights

The global outdoor furniture market is segmented and the vendors deploy strategies like offering innovative products to meet the buying trends of consumers to compete in the market.

The increasing competition in the market is forcing sellers to engage in strategic partnerships and joint ventures along with launching distinctive products to raise their game in the furniture industry. Moreover, government regulations and economic conditions play a pivotal role in the market. For example, IKEA Systems BV is one of the most sustainable manufacturers and retailers in the outdoor furniture market.

The report analyzes the competitive landscape of the market and provides information on several market vendors, including:

  • Ashley Furniture Industry
  • Berkshire Hathaway Inc.
  • Century Furniture LLC
  • Gloster Furniture GmbH
  • Haworth Inc.
  • Hermann Miller Company
  • Inter IKEA Holding BV
  • The Home Depot Inc.
  • TUUCI LLC
  • Williams Sonoma Corporation

Find out more highlights about vendor growth strategies and their product offerings, Read a free sample report.

Geographical market analysis

APAC will provide maximum growth opportunities in the outdoor furniture market during the forecast period. According to our research report, the region will contribute to 34% of the global market growth and is expected to dominate the market until 2025. APAC will achieve growth across all years of the forecast period between 2020 and 2025.

China And Japan They are the two major outdoor furniture markets in the Asia Pacific region. The market growth in these regions will be much faster than the growth in the rest of the market regions during the forecast period.

Major Sector Analysis

The growth of the outdoor furniture market by the outdoor furniture and accessories segment is estimated to be significant during the forecast period. This segment is expected to capture the largest share of the global outdoor furniture market during the forecast period. Increasing interests in outdoor decoration and increasing preferences for outdoor leisure activities are positively impacting the growth of the outdoor furniture and accessories sector. Changes in consumers’ lifestyles and preferences are fueling sales of dining tables and outdoor sofas that have a contemporary appeal, transitional and easy to maintain, as well as being stylish, comfortable and versatile. For example, Williams-Sonoma Inc. Various types of furniture and outdoor accessories for its clients. Its product offerings include lounge furniture, dining furniture, outdoor furniture, and other outdoor furniture and accessory products, including cushions and pillows.

Learn more about the geographical distribution of this market along with detailed analysis of the top regions. https://www.technavio.com/report/outdoor-furniture-market-industry-analysis

Market Drivers and Key Challenges:

The increasing demand for patio heating products in commercial and residential spaces is one of the major factors for the growth of the global outdoor furniture market share. Commercial spaces such as bars, banquet halls, cafes and restaurants are in great demand on patio fireplaces. Also, there is a significant rise in the number of bars and restaurants with outdoor dining venues which is contributing to the growth in demand for patio heaters. Furthermore, vendors offer new patio heaters that feature innovative designs to achieve a high degree of product differentiation. Thus, the product premium is encouraging more consumers to patio heaters, which are finally emerging as the major driving forces for the global outdoor furniture market during the forecast period.

Long replacement is estimated to be a major challenge for the growth of outdoor furniture market share. Furniture made of high-quality wood, including outdoor furniture, has a long life and does not require frequent replacements. The ideal average life of high-quality furniture is 7-9 years which is much better than other cheap quality furniture made using plastic. Moreover, major furniture manufacturers often give warranties and warranties for their products which results in increased product life and reduced repeat purchases. Hence, the long replacement cycle restricting repeat purchases is expected to hamper the growth of the outdoor furniture market during the forecast period.

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Related Reports:

Online Furniture Market by Application and Geography – Forecast and Analysis 2020-2024

US Outdoor Furniture Market by Product, End User, and Distribution Channel – Forecast and Analysis 2021-2025

Outdoor Furniture Market Scope

Report coverage

details

page number

120

base year

2020

prediction period

2021-2025

Growth Momentum and CAGR

Accelerate at a compound annual growth rate of 3%

Market Growth 2021-2025

$3.73 billion

Market Structure, Market Structure

fragmented

Annual Growth (%)

2.26

Regional Analysis

North America, Asia Pacific, Europe, South America, Middle East and Africa

Market share performance

Asia Pacific 34%

Main consuming countries

The United States, China, Germany, the United Kingdom, and Japan

Competitive scene

Leading companies, competitive strategies, scope of consumer participation

An overview of the main companies

Ashley Furniture, Berkshire Hathaway, Century Furniture LLC, Gloster Furniture GmbH, Haworth Inc. and Herman Miller Inc. and Inter IKEA Holding BV and The Home Depot Inc. and TUUCI LLC, and Williams-Sonoma Inc.

market dynamics

Key market analysis, market growth triggers and obstacles, analysis of fast-growing and slow-growing segments, analysis of COVID-19 impact, recovery and future consumer dynamics, market status analysis for forecast period

field of personalization

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