Global Outdoor Furniture and Accessories Market
Market Overview
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.
Market Segmentation
By Product Type
Outdoor Seating
Day Beds and Sun lounges
Tables
Decorative and Leisure Furniture
By Material Type
Wood
Plastic
Metal
Other Leather etc.
By End Users
Residential Sector
Commercial Sector
By Distribution Channels
Online Distribution Channel
Offline Distribution Channel
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By Geography
North America US, Canada {Market Share % , Market Size USD Billion , Sales Million Units }
Europe UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe {Market Share % , Market Size USD Billion , Sales Million Units }
Middle East and Africa GCC Countries, North Africa, South Africa and Rest of Middle East & Africa {Market Share % , Market Size USD Billion , Sales Million Units }
Latin America Brazil, Mexico and Rest of Latin America {Market Share % , Market Size USD Billion , Sales Million Units }
Asia Pacific China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific {Market Share % , Market Size USD Billion , Sales Million Units }
Rest of the World{Market Share % , Market Size USD Billion , Sales Million Units }
Growth Drivers and Challenges
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.
Market Size and Forecast
The global outdoor furniture and accessories market valued USD 9.1 billion in 2016 owing to rising number of luxury housing and hotel chains across the globe. Further, the market is anticipated to expand at a CAGR of 5.6% to reach USD 14.3 billion over the forecast period i.e. 2016-2024.
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.
Key Market Players
IKEA
Synopsis
Business strategy
Product Portfolio
SWOT Analysis
Williams-Sonoma
Ashley Furniture
Brown Jordan
Century Furniture
Forever Patio
Home Depot
Home Crest Outdoor Living
Adams Manufacturing
Hospitality Rattan
Zuo Modern
Alfresco Home
Winston Furniture
Market Synopsis
Market Segmentation
Global outdoor furniture and accessories market is segmented as follows:
By Product Type Market Size, Demand Analysis and Growth Analysis
By Material Type Market Size, Demand Analysis and Growth Analysis
By End Users Type Market Size, Demand Analysis and Growth Analysis
By Distribution Channel Type Market Size, Demand Analysis and Growth Analysis
Global Outdoor Furniture and Accessories Market Report covered insights of below mentioned regions:
North America U.S., Canada {Market Size, Growth Analysis and Opportunity Analysis}
Latin America Argentina, Mexico, Brazil and Rest of Latin America {Market Size, Growth Analysis and Opportunity Analysis}
Europe Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe {Market Size, Growth Analysis and Opportunity Analysis}
Asia-Pacific China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific {Market Size, Growth Analysis and Opportunity Analysis}
Middle East and North Africa MENA {Market Size, Growth Analysis and Opportunity Analysis}
Rest of World {Market Size, Growth Analysis and Opportunity Analysis}
Market Dynamics: Growth Drivers, Restraints and Opportunities
Risk Factors
Regional Variations
Recent Trends and Developments
Key Market Players
Synopsis
Business Strategy
Product Portfolio
SWOT Analysis
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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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