Outdoor Furniture Market Size, Share & Trends Report

Outdoor Furniture Market Size, Share & Trends Analysis Report By Material Type (Wood, Plastic, Metal), By End Use (Commercial, Residential), By Region (North America, APAC, Europe, MEA, CSA), And Segment Forecasts, 2019 - 2025

  • Published Date: Jul, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-2-68038-871-8
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 80

Industry Insights

The global outdoor furniture market size was valued at USD 16.8 billion in 2018 and is anticipated to expand at a CAGR of 5.9% over the forecast period. Growing real estate industry and urban population are the key factors driving the market. Moreover, increasing per capita and disposable income plays an important in fueling the industry growth.   

Furthermore, improved consumer spending power and growing trend of traveling have resulted in increasing tourists across the world. The trends can be observed mainly in seaside areas, hill stations, and other monumental places. This, in turn, leads to increasing number of hotels, resorts, public gardens, and open spaces, thereby propelling the demand for outdoor furniture.

U.S. outdoor furniture market

Outdoor furniture finds its application majorly in residential, hotels, and resorts. Demand for outdoor furniture is growing in developing countries like India, China, Singapore, Malaysia, and Thailand. Selection of a furniture depends on various factors such as weather proof, insect resistance, fungus and pest repulsion, and crack proof. Manufacturers are shifting towards eco-friendly materials such as moso bamboo, which is stronger than oak wood.

Usage of outdoor furniture is increasing at a faster rate in the commercial sector. Growing trend of traveling, exploration of new places, and changing lifestyle are the key factors boosting the growth of the sector. Several manufacturers are concentrating on the commercial sector due to the aforementioned factors in order to maximize their sales.

Material Type Insights

On the basis of material type, the product is segmented into wood, plastic, and metal. Wood is the most widely used material type for making furniture. Wood dominated the market with a share of more than 60.0% in 2018. Wood finds its application in both residential and commercial end-use sectors due to its features including durability, comfort, and rich and natural look.

Global outdoor furniture market

Plastic accounted for more than 15.0% share of the overall revenue in 2018. It is highly preferred among the consumer groups with an economic budget, as the material requires minimal maintenance and is lightweight. Presence of substitutes like eco-friendly products is restraining the growth of the plastic segment.

End-use Insights

The residential segment dominated the market in 2018 with 58.6% share of the overall revenue. Growing population, increasing per capita income, westernization, and changing lifestyle are the prominent factors driving the residential segment. The commercial segment is the fastest growing segment, registering a CAGR of 6.2% over the forecast period. Growing trend of travelling and exploring has led to an increase in the number of hotels and resorts thus, positively impacting the overall growth of the segment.

Regional Insights

North America dominated the market in 2018 with almost 35% share of the overall revenue, registering a CAGR of 5.4% over the forecast period. U.S. is the leading consumer of outdoor furniture in North America, thereby boosting the regional growth. Presence of companies like Brown Jordan and Forever Patio, innovations in the market, and willingness of the consumers to spend on the product are the key factors fueling the market growth in the region.

Asia Pacific is a prominent regional market, expanding at a CAGR of 6.3% in the forecast period. Developing countries like India and China and increasing tourism in countries like Singapore, Malaysia, and Thailand are the key factors fueling the market growth in the region. Thailand is among the most preferred tourism destinations, along with Singapore, which has largely driven the demand in 2016. For instance, in 2016, Thailand witnessed 32.6 million international tourist arrivals.

Leading manufacturers such as Inter Ikea Group started providing their services in countries like India and China. Ikea opened its first store in India in 2018 and the key reason behind its expansion was the rapid development in these countries in the last few years. China is growing rapidly and thus Inter Ikea Group finds it a better country to expand its business.

Outdoor Furniture Market Share Insights

Key players operating in the market include Inter Ikea Group, Ashely Industries, Brown Jordan, Keter Group, Agio International Company Limited, and Lloyd Flanders. The market presents moderate to low entry barriers for the new entrants and the competition is driven by factors such as mergers and acquisitions, competitive advantages, and product innovation. For instance, it has been reported that Ikea may adapt online platforms such as Amazon and Flipkart in the near future.  The industry share is fragmented globally due to presence of a large number of players in the market.

Leading manufacturers are expanding their geographical presence in order to gain maximum market share. Establishment of strategic partnerships with buyers in order to develop new products is projected to remain a critical success factor over the next few years. Taking into account all the above-mentioned factors, manufacturers are likely to focus on product innovation, catering particularly to the hotels, resorts, and residential sectors.

In the coming years, online platform will play a vital role in order to gain a competitive advantage for a company. Various online platforms such as Pepperfry, Homecentre, and Urban Ladder that sell furniture online are growing rapidly. Companies need to start selling their products through these channels in order to sustain in the market in coming years. The leading companies sell their products through their own websites and they have their own supply chain system in order to deliver the quality to the fullest and to gain a competitive edge over others.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Billion & CAGR from 2019 to 2025

Regional scope

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

Report coverage      

Revenue forecast, company share, competitive landscape, growth factors and trends

Country Scope

U.S., Canada, Germany, U.K., China, India, Brazil, and UAE

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global outdoor furniture market report on the basis of material type, end use, and region:

  • Material Type Outlook (Revenue, USD Billion, 2015 - 2025)

    • Wood

    • Plastic

    • Metal

  • End-use Outlook (Revenue, USD Billion, 2015 - 2025)

    • Commercial

    • Residential

  • Regional Outlook (Revenue, USD Billion, 2015 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • India

      • China

    • Middle East Africa

      • UAE

    • CSA

      • Brazil

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