New York, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Outdoor Furniture Market Size, Share & Industry Trends Analysis Report By End-use, By Material Type, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06412070/?utm_source=GNW
Common weather factors like rain, cold, humidity, and sun are taken into account in their making.
These furniture pieces also offer properties like corrosion resistance and minimum wear and tear of the fittings and fixtures present on the furniture. As per the cost and region, the material used changes in making outdoor furniture. Patio furniture can help in increasing the features and comfort of outdoor spaces, which presents as the primary reason for customers to invest in them. The most common furniture pieces that are bought are tables and chairs.
These furniture pieces are versatile and, therefore, can be used in any type of outdoor area, whether it’s poolside, garden, balcony, or terrace. This also elevates the design quotient as they can transform an ordinary stone patio or deck into an ambient open-air destination. In recent times, the culture of open-air dining has risen, and as such, restaurants have been designing and expanding their services to house an outdoor eating space.
This is mainly because outdoor furniture livens up the outside areas efficiently, thereby pleasing and attracting more customers. Earlier, people used to put indoor furniture outside, but it posed many problems like fading, cracking, chipping, and finally breaking. Indoor furniture is not designed to withstand temperature and weather extremes and, therefore, deteriorates faster when placed outside.
Consequently, the growing outdoor furniture trend propelled consumers to purchase specifically designed furniture for outdoor spaces. Outdoor furniture manufacturing companies have developed products that do not display the problems posed by ordinary furniture. Various products have been used that help in the maintenance of the color, accessory, and texture of outdoor furniture. For example, companies use spun polyester and solution-dyed acrylic in outdoor furniture as these materials aid in resisting mildew, moisture, and staining.
COVID-19 Impact Analysis
The residential sector was not producing any demand, and the lockdown laws further instigated the closure of the hospitality sector, leading to negligible demand. COVID-19 influenced stay at home, which resulted in consumers’ growing tiredness of their existing furniture. Post-pandemic, as people had significant disposable incomes, they splurged more. House renovation and upgrades, as well as tourism, increased after the lockdown. As a result, both commercial and residential demand for outdoor furniture increased. Additionally, the growing trend of socializing and parties have increased the demand for trendy and designer furniture and decorative pieces. Conclusively, it has been observed that while during the pandemic, the market suffered adversely, post-pandemic, this trend reversed to induce growth in the outdoor furniture market.
Market Growth Factors
Increasing Demand For Lightweight And Durable Furniture
The search for lightweight and less expensive materials in the furniture sector is resulting in the increased adoption of plastics and wooden furniture. Certain metal alloys are also usable for lightweight and sturdy furniture designs. In addition, the demand for outdoor furniture is expected to fuel due to the high-performance properties of these materials. Most of these advancements are observable in plastic usage. Therefore, these factors will likely open new growth avenues for the outdoor furniture market during the forecast period.
Growing Penetration Of Organized Retail And Increasing Demand For Personalized Furniture
The importance of organized shops providing branded outdoor furniture and other home furnishing products has grown in tandem with consumer preference for branded products. The changing retail landscape, particularly in emerging countries, is characterized by a growth in hypermarkets, supermarkets, and specialized formats. Because of their busy lifestyle and work schedules, people value comfort and convenience more than ever. Thus, these factors would play a significant role in propelling the growth of the outdoor furniture market.
Market Restraining Factors
Limitation Of Production Because Of High Costs Of Raw Materials
Since outdoor furniture is made from wood, plastic, metal, or any combination, the manufacturing capacity is highly susceptible to changes in the materials’ prices. Most of the industries that are involved in the production of these materials are considered environment-harming or carbon negative. These negative connotations are acquired by the prevalent deforestation and mining activities that go into their making. Strict rules and regulations are imposed on these activities, which further increases the prices of the material. All these elements are working in opposition to the outdoor furniture market and hamper its growth.
Material Outlook
Based on material, the outdoor furniture market is categorized into wood, plastic, and metal. The plastic segment procured a considerable growth rate in the outdoor furniture market in 2021. Plastic furniture is most commonly used in the form of chairs and tables on patios and other places. Plastic furniture is often developed from polypropylene and polyethylene, which provides it with characteristics like lightweight, waterproof, and durable at various degrees of outdoor temperatures and makes it resistant to UV light from sunshine.
End-Use Outlook
On the basis of end-use, the outdoor furniture market is divided into commercial and residential. The residential segment acquired the largest revenue share in the outdoor furniture market in 2021. A rise in per capita income, shifting lifestyles, westernization, and population growth are the main elements that impart influence on the growth of this segment. In addition, the rise in urbanization and disposable incomes have expedited the growth in house sales, further increasing the demand for many decorative pieces.
Regional Outlook
Based on region, the outdoor furniture market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment garnered the maximum revenue share in the outdoor furniture market in 2021. The rising trend of gatherings and family dinners is increasing the demand for the product in this region. In addition, the maintenance and creation of front yards and backyards spaces to improve the aesthetics of the areas around the homes with gardens and furniture have increased significantly in this region. Huge demand also emerges from the commercial sectors as the region has a vital tourism industry.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Kimball International, Inc., Inter IKEA Systems B.V. (Inter IKEA Holding B.V.), Keter Group B.V. (BC Partners), Ashley Furniture Industries, LLC, Brown Jordan, Inc, Agio International Company, Ltd, Lloyd Flanders, Inc., Barbeques Galore Pty, Ltd, Century Furniture LLC (RHF Investments, Inc.), and Aura Global Furniture.
Scope of the Study
Market Segments covered in the Report:
By End-use
• Residential
• Commercial
By Material Type
• Wood
• Plastic
• Metal
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Kimball International, Inc.
• Inter IKEA Systems B.V. (Inter IKEA Holding B.V.)
• Keter Group B.V. (BC Partners)
• Ashley Furniture Industries, LLC
• Brown Jordan, Inc
• Agio International Company, Ltd
• Lloyd Flanders, Inc.
• Barbeques Galore Pty, Ltd
• Century Furniture LLC (RHF Investments, Inc.)
• Aura Global Furniture
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06412070/?utm_source=GNW
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