Outdoor Furniture Market Size

Outdoor Furniture Market Size

Outdoor Furniture Market size exceeded USD 15.7 billion in 2020 and is projected to grow at over 5.9% CAGR from 2021 to 2027. The changing consumer preferences toward residential private houses and commercial buildings in emerging nations are expected to drive the industry demand.

Consumer attention is shifting to improve outdoor spaces to create more comfortable and appealing designs in balconies, gardens, and porches, boosting market expansion. Consumers are willing to spend their disposable income, particularly on the design and manufacture of outdoor furniture products to improve aesthetics, expanding the product variety. Changing weather conditions in different nations have a direct impact on the demand for outdoor furniture.

Due to the rising disposable income and travel spending, the global tourism business has thrived in recent years. This trend has provided a lucrative opportunity for outdoor furniture manufacturers.
 

The lifestyle pattern in emerging countries is being substantially influenced by rapid urbanization and an expanding urban population. The growing urban population has fueled the outdoor furniture market demand by improving the construction of private residential buildings in rural and semi-urban areas. Additionally, outdoor furniture products have evolved among the most attractive products in commercial and residential spaces owing to high comfort and improved aesthetic benefits.
 

The demand for outdoor furniture in Asia Pacific is growing significantly, which will propel the regional industry growth. Additionally, the regional market is also led by the increasing number of stadiums and cumulative government investment on public gardens and parks. The rising demand for balcony furniture supported by the thriving real estate industry will influence the business expansion. Moreover, the surging demand for free space for backyard gardening, front yard & backyards lawns, indoor gardens, and garden makeovers by enhancing garden aesthetics with modern trends in architectural designs, will foster the product adoption.