According to our latest market study on "Global Outdoor Furniture Market Forecast to 2027 - COVID-19 Impact and Analysis by Material (Metal, Plastic, Wood, and Others),Product (Chairs, Tables, Seating Sets, Loungers and Daybeds, and Dining Sets), End User (Residential and Commercial), and Geography". The global outdoor furniture market was valued at US$ 17,843.7 million in 2018 and is projected to reach US$ 26,598.5 million by 2027; it is expected to grow at a CAGR of 4.5% from 2019 to 2027. The report highlightskey factors driving the market growth and prominent players along with their developmentsin the market.
Outdoor furniture like chairs, tables, seating sets, dining sets, loungers, daybeds, and hammocks are quite popular among the residential and commercial customers. The outdoor furniture market on a global scale has been witnessing substantial growth in the new past. Factors, for example, a rise in consumer spending and traveling trends have brought about a flood in the number of tourists across the world. These factors are for the most part observed in tourist spots, beach sides, and slope stations, thereby leading to increased counts of inns, lodgings, visitor houses, resorts, open spaces, and public gardens. Consequently, a growing number of lodgings and restaurants are further expected to push the outdoor furniture market during the forecast time frame.
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Consumer spending on traveling and tourism has considerably increased across the world. A change in consumer way of life has brought about a rise in investment for traveling and exploration activities. The travel and tourism sector has become a significant contributor in developing inclination towards the use of outdoor furniture to enhance the esthetic appeal of commercial and residential spaces along with catering to the extravagance needs of consumers. According to The United Nations World Tourism Organization (UNWTO), the international tourist arrivals across the world rose up by 6% in 2018 that was accounted for 1.4 billion. Further, as stated by The World Travel and Tourism Chamber (WTTC) in 2018, the travel and tourism sector generated 10.4% of global Gross domestic product. Additionally, European nations are considered to be the most favored hub for tourism. Moreover, the rising rate of tourism in nations like Singapore, Malaysia, and Thailand is also propelling the market growth in the region.
Agio International Company, Ltd.;Ashley Home Stores, Ltd.;Barbeques Galore;Brown Jordan;Century Furniture LLC;Home crest Outdoor Living LLC;Keter Group;Inter IKEA Systems B.V.;Florida Patio Furniture Inc.; and Polywoodare among the deeply grounded players in the global outdoor furniture market others.
The COVID-19 outbreak, which began in Wuhan (China) in December 2019, has spread around the globe at a fast pace. As of June 2020, the US, Russia, India, China, Italy, Spain, France, and Germany, are among the most awful affected nations with regards to positive cases and reported deaths. According to the WHO figures updated in June 2020, approximately 7,482,952 confirmed cases and 419,497 deaths have been reported globally. The outbreak has affected economies and industries because of lockdowns, travel bans, and business closures. Consumer products is one the world's major industries suffering serious disruptions, for example, inventory network breaks, innovation events cancellations, and office closures because of this pandemic. China is the global manufacturing hub and is the largest raw material provider for various industries; however, it is also one of the most horrendously awful affected nations by the COVID-19 pandemic. The lockdown of various plants and factories in China is affecting the global stock chains and adversely impacting the manufacturing and sales of various outdoor furniture companies. The overall market break down because of COVID-19 is also affecting the outdoor furniture market growth because of shutting down of factories, obstacle in store network, and decline in world economy.
The Report Segments the Global Outdoor Furniture Market as Follows:
Loungers and Daybeds
By End User
Rest of Europe
Asia Pacific (APAC)
Rest of Asia Pacific
Middle East &Africa (MEA)
Rest of MEA
South America (SAM)
Rest of South America
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