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Global Outdoor Furniture Market to Grow at a CAGR of 5% During 2021-2026, Aided by the Rising Prevalence of Outdoor Spaces due to COVID-19 Outbreak

According to a new report by EMR titled, ‘Global Outdoor Furniture Market Report and Forecast 2021-2026’, the market is expected to grow at a CAGR of 5% in the forecast period of 2021-2026.

The market is aided by technological advancements and internet penetration. The surge of the online retail sector has not only enabled easy availability of outdoor furniture but also has facilitated various product launches. Evolving consumer shopping trends and the population growth in both developing and developed sector facilitates the market growth. In addition, the promotion of the infrastructure and hospitality sector and the development of premium public spaces can drive the market for outdoor furniture in the forecast period. Amidst the global pandemic COVID-19, the hospitality sector is allowed to function only in open spaces in many countries. For instance, the Welsh government stated that consumers can only be served food and drinks outdoors at tables. Moreover, the government also provided grants for outdoor furniture to the hospitality industry. Trends such as these have led to the increasing prevalence of outdoor spaces, which are further expected to invigorate the market growth.

The key industry players are focusing to constantly evolve the products and elevate the durability and life of outdoor furniture. Some of the key players are Woodward, Inc. (NASDAQ:WWD) And Ace Hardware Corporation. In July 2019, Ace Hardware Corporation announced the launch of Living Accents Fabric Arched Pergola. It has a brown rust-resistant powder-coated steel frame and a tan adjustable weather resistant-sling canopy trimmed in rich colour. The patio provides a retreat on sunny days and is a great place to entertain friends and acquaintances. Moreover, it can be assembled easily with the instruction guide, and both home delivery and store pickup are available; trends such as these are expected to aid the market growth in the forecast period.

Market Analysis by Material, Product, End-Use, and Region:

  • The market, on the basis of material, can be divided into wood, metal, plastic, and textile, among others.
  • Based on the products, the industry can be divided into chairs, tables, seating sets, dining sets, and loungers and daybeds, among others.
  • The end-use for outdoor furniture include residential and commercial, among others.
  • The regional markets for outdoor furniture include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market is being driven by the growing home improvement and renovation industry in order to create beautiful and aesthetic spaces.
  • Rising disposable income and rapid urbanisation have increased the living standards and evolved the lifestyle, aiding the growth of the market.
  • The flourishing tourism sector and the use of outdoor furniture in the industry are boosting the market growth.
  • The increasing development of public spaces, such as parks and stadiums, has increased the demand for outdoor furniture, propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global outdoor furniture market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the materials, products, end-uses, and regions of outdoor furniture.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for outdoor furniture are Ace Hardware Corporation, Century Furniture LLC, Forever Patio, Haworth, Inc., and Nilkamal Furniture, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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