U.S. Holds a Market Share of 84.9% in the North American Outdoor Furniture Market – Fact.MR Study
According to a recent report by Fact.MR, a market research and competitive intelligence provider, the global outdoor garden furniture market is projected to surpass a valuation of US$ 2.2 Bn in 2021, rising at a CAGR of around 7.6% through the end of 2031.
The market is projected to witness surge in demand owing to various factors such as rapid urbanization, expansion of the middle-class population, and infrastructural development throughout the world. Rising consumer preference for unique home décor that takes up minimal space is a key factor for the surge in global outdoor garden furniture sales. Moreover, the manufacturing of outdoor garden furniture has increased over the past few years, thus providing a push to overall demand.
Seating sets in outdoor garden furniture are likely to boost the global market, due to increasing demand for comfort even in outdoor settings. Consumer movements are restricted to households these days, and, as a result, they prefer to use outdoor furniture that provides the similar level of comfort as that of indoor furniture in their gardens.
- Crate&Barrel offers nature-inspired seating sets and sculptural side tables specific to each season. It offers patio and deck furniture to make the backyard an epicenter for relaxing and entertainment with family and friends.
Key Takeaways from Market Study
- The North America market is estimated to top a valuation of US$ 2 Bn by 2031.
- The Europe market is estimated to register a CAGR of 7.5 % over the forecast period.
- Strong production footprint of key market players in China has allowed it to hold the highest market share of 46.9 % in the East Asia outdoor garden furniture market.
- The outdoor garden furniture market is segmented based on material, where the wood segment holds a high share of 20.2%.
- By product type, 41.4% people prefer dining sets and 31.8% of consumers prefer seating sets.
“To attract consumers, manufacturers are turning their focus towards producing multi-purpose furniture. Major companies are anticipated to innovative products and develop strong logistics networks to ensure easily availability of outdoor furniture,” says a lead analyst at Fact.MR.
Sustainable Production – An Ongoing Trend in the Industry
Global environment change and the negative effects of deforestation have resulted in the trend of green design among interior designers. Adoption of sustainable production among furniture manufacturers owing to increasing customer demand for eco-friendly products is expected to surge demand for sustainable products using eco-friendly material, which is likely to create enormous opportunities in the global market.
- Yardbird, a furniture company based in the U.S., offers eco-friendly outdoor furniture crafted using recycled materials.
Government norms and regulations appertaining to improvements in material usage in furniture manufacturing have set national as well as international standards for the industry. Regulatory bodies in various countries of North America and Europe have also laid regulations related to the fire safety standards of the material used for manufacturing outdoor garden furniture, thus influencing growth of the global market.
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