, Market Synopsis: Global Outdoor Furniture Market, , The global outdoor furniture market has been witnessing substantial growth in the past couple of years. Factors such as the rise in consumer spending and traveling trends resulted in an increased number of tourists across the world. These factors are mainly observed in tourist spots, hill stations, thereby leading to multiplying counts of hotels, resorts, open spaces, and public gardens. Thus, a growing number of hotels and restaurants is expected to propel the outdoor furniture market. , Furthermore, increasing financial capacity to spend on leisure activities is inducing the consumer to spend more on outdoor furniture in the residential sector. Several homeowners are focusing on enhancing the garden or balcony appearance with aesthetically appealing sitting areas. Lounge chairs, seating sets, and tables are the key products generating substantial revenue in the outdoor furniture market. , The global outdoor furniture market is expected to witness a ~5.4% CAGR during the forecast period. The global outdoor furniture market size is expected to be valued at ~USD 26 billion by the end of 2025. , , Regional Analysis: Global Outdoor Furniture Market , , On the basis of region, the global outdoor furniture market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. , North America accounted for the largest market share in 2018 and is expected to register the highest growth rate during the forecast period. The region is the leading consumer of outdoor furniture, thereby boosting the regional presence. Presence of companies such as Brown Jordan, Agio International Company, LTD, and Inter IKEA Systems B.V innovations in the market, and the willingness of the consumers to spend on the product are the key factors fueling the market growth in the region., Asia-Pacific is the fastest-growing region in the market during the forecast period. Developing countries like India and China and increasing tourism in countries such as Singapore, Malaysia, and Thailand are the key factors shaping the market growth in the region. Thailand is among the mos



Market Synopsis: Global Outdoor Furniture Market



The global outdoor furniture market has been witnessing substantial growth in the past couple of years. Factors such as the rise in consumer spending and traveling trends resulted in an increased number of tourists across the world. These factors are mainly observed in tourist spots, hill stations, thereby leading to multiplying counts of hotels, resorts, open spaces, and public gardens. Thus, a growing number of hotels and restaurants is expected to propel the outdoor furniture market.

Furthermore, increasing financial capacity to spend on leisure activities is inducing the consumer to spend more on outdoor furniture in the residential sector. Several homeowners are focusing on enhancing the garden or balcony appearance with aesthetically appealing sitting areas. Lounge chairs, seating sets, and tables are the key products generating substantial revenue in the outdoor furniture market.

The global outdoor furniture market is expected to witness a ~5.4% CAGR during the forecast period. The global outdoor furniture market size is expected to be valued at ~USD 26 billion by the end of 2025.



Regional Analysis: Global Outdoor Furniture Market



On the basis of region, the global outdoor furniture market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

North America accounted for the largest market share in 2018 and is expected to register the highest growth rate during the forecast period. The region is the leading consumer of outdoor furniture, thereby boosting the regional presence. Presence of companies such as Brown Jordan, Agio International Company, LTD, and Inter IKEA Systems B.V innovations in the market, and the willingness of the consumers to spend on the product are the key factors fueling the market growth in the region.

Asia-Pacific is the fastest-growing region in the market during the forecast period. Developing countries like India and China and increasing tourism in countries such as Singapore, Malaysia, and Thailand are the key factors shaping the market growth in the region. Thailand is among the most preferred tourist destinations, along with Singapore, which has primarily driven the demand.

Leading manufacturers such as Inter Ikea Group started providing their services in countries such as 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 considered it a better country to expand its business.

Several manufacturers are concentrating on beach resorts and hotels owing to higher profitability achieved from these sectors. Singapore, Malaysia, Thailand, Indonesia, and Dubai provide several growth opportunities due to the economic tourism and potential locations from tourism perspective which will attract more tourists



Segmentation: Global Outdoor Furniture Market



The global outdoor furniture market has been segmented based on material, product type, and end-user. Based on material, the global market has been classified as metal, plastic, wood, textile, and others. The wood segment is anticipated to witness the highest CAGR due to its features like durability, superior comfort, and luxurious and stylish appearance.

Based on product type, the global market has been segmented into chairs, tables, seating sets, dining sets, and others. The seating sets segment accounted for the highest share in 2018 owing to its necessity in residential and commercial spaces, including restaurants, resorts, and hotels. The availability of multiple designs of these products, including seating capacities and types of materials used is supporting the segment growth. Industry participants are engaged in incorporating advanced technologies into their products for enhancing the overall product appeal.

On the basis of end-user, the global market has been segmented into residential and commercial. The residential segment is expected to witness the highest growth rate over the forecast period owing to developed countries in Europe and North America. The trend of family gatherings & dinners in residential gardens will stimulate market growth. The aging population, high disposable incomes, along with a willingness to spend on luxury furniture for enhanced lifestyles, are actively supporting the outdoor furniture industry growth. Furthermore, the growing trend of socializing and get-togethers among people of all ages are fueling the demand for garden and outer furniture products in the residential sector.

The key players in the global outdoor furniture market are Agio International Company, LTD (US), Brown Jordan International (US), Century Furniture LLC (US), Inter IKEA Systems B.V. (the Netherlands), and Kimball International, Inc. (US)

The global outdoor furniture market is fairly competitive, with a moderate number of players, across the globe. The players are expected to adopt various strategies to expand their global presence and increase their market shares. Some of the key strategies adopted by the players include a focus on a high-quality product, cost-effectiveness, expansions, strategic partnerships, and collaborations with manufacturing companies.

Leading manufacturers, including Inter Ikea Group, have started providing their services in countries such as India and China. In August 2018, 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.

In October 2018, Kimball, a subsidiary of Kimball International, Inc., signed an agreement with David Edward headquartered in Baltimore, Maryland. David Edward is a premier designer and manufacturer of contract furniture, sold in the healthcare, corporate, education, and premium hospitality markets. David Edward sells primarily in the North American and Middle Eastern markets. This acquisition will enable the company to multiply its presence and double its customer base.



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