Outdoor furniture market crossed USD 15.7 billion in 2020 and will witness a CAGR of over 5.9% from 2021 to 2027, says this GMI report.
Wood outdoor furniture had held over 50% of revenue share in 2020 and will witness a CAGR of nearly 6.5% through 2027 owing to their superior comfort, eco-friendliness, strength, and aesthetic appeal.
Residential segment had captured nearly 55% of market share in 2020 and will record a CAGR of over 5.8% through 2027 with increasing product purchase driven by rising income levels.
North America outdoor furniture market size will surpass USD 7.6 billion by 2027 owing to the expansion of hospitality industry along with increasing consumer preference to replace basic furniture.
Prominent outdoor furniture makers are Ace Hardware, Haworth, Inc., Steelcase, Herman Miller, Inc., Ashley Furniture Industries, Knoll, Inc., Sun Garden GmbH, The Home Depot, Inc., IKEA, etc.