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2020-09-01
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Global
Global outdoor furniture market is majorly driven by the fashion and trends in home decorating and housing sector by using decorative and outdoor furniture. Recent trends also show that outdoor furniture market is accelerating owing to the factors such as demand for recycled plastic lumber popularity which is commonly known as Envirowood. Outdoor furniture market is also benefitted by the government funding to open more leisure and green spaces such as gardens, sports area and other where people can relax. For instance, around 58% of the total population in United Kingdom claims to make leisure visit every week, is estimated that 42.3 billion adults reside in England visits to the natural environment. Rising number of visitors to these parks and leisure spaces are likely to propel the growth of outdoor furniture market.
Outdoor furniture market is dominated by the residential market, which accounted for more than 85% of total outdoor furniture and accessories market in 2016. High consumer spending and home decorating trends are the key factors driving the growth of outdoor furniture and accessories market. Rising expenditures on the purchase of luxury housing and real estate properties will also aid the growth of outside furniture market. Over the next three years demand of purchasing luxury housing properties is likely to reach 20% by the wealthy population across the globe. Within United States 25% of the wealthy population is looking forward to purchase new housing properties in next 3 years. Wealthy residential consumers will continue to prefer higher quality outdoor furniture and more stylish decorative products that provide an extension of living spaces into the outdoors. In the era of digitization, online distribution channels are also playing a vital role in the growth of retail sector as well as the furniture market. Online channels are providing wide range of products and exclusive pricings which is attracting more consumer base and accelerating the growth of outdoor furniture market. For instance, IKEA a major furniture manufacturer stated that its official website saw more than 2.1 billion visits in 2016 and becoming an important marketing and sales platform for the company.
However, government regulations over the export and import of timber goods are expected to restrain the growth of outdoor furniture market. For instance, EU Timber Regulation (EUTR) prohibits the sales and export of illegally harvested timber and products. Only when the timber good is proven legally, it is allowed to imported and sell into the European market.
Geographically, North America accounted for the largest market for global outdoor furniture and accessories market. North America shares more than 32% of revenue share in the total outdoor furniture market. The United States holds the largest share in North America followed by Canada. U.S. outdoor furniture market is expected to grow at a robust CAGR of 6.1% over the forecast period. North America is closely followed by the Europe with around 28% revenue share in the global outdoor furniture market with United Kingdom, Germany and France as the major contributor to the market growth in Europe. Asia-Pacific region is expected to showcase a healthy growth over the forecast period owing to favorable demographic shifts in the region.
By Product Type
Market Segmentation
Global outdoor furniture and accessories market is segmented as follows:
Global Outdoor Furniture and Accessories Market Report covered insights of below mentioned regions:
Market Dynamics: Growth Drivers, Restraints and Opportunities
The report analyzes and includes complete detailed chapter of 50-70 pages about the short term & long terms impact of COVID-19 outbreak on each segment of "Global Outdoor Furniture and Accessories Market " along with government measures to support the sector. It also showcases the current market landscape during COVID, impact of the virus on leading companies, expected demand schedule and supply chain in the industry and other various major factors. This will help you identify those companies that may benefit from this pandemic as well as those that will lose out.
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks
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