$20.6 Bn by 2026, Outdoor Furniture Market Study Report 2020-2026

The outdoor furniture market revenue to hit $20.6 billion by 2026, According to a research report by Global Market Insights Inc. The ongoing expansion of the commercial sector across the world is slated to propel the global outdoor furniture market revenues through the forthcoming timeframe. Commercial establishments like hospitality, educational institutes, and offices are creating immense demand for outdoor furniture products, particularly across developing nations.

In addition, the robust tourism sector is actively providing significant scope for furniture deployment, especially in places like restaurants, hotels, and motels, augmenting business growth. In fact, as per the WTTC (World Trade and Tourism Council), in 2018, the tourism sector observed growth of 3.9%, which as more than the 3.2% global GDP growth that year. The industry contributed an unprecedented $8.8 trillion to the global economy, generating about 10.4% of the overall global economy activity in 2018. While the industry is going through a economic slump due to the pandemic, its strong footing ensures that it is likely to bounce back considerably as the situation comes under control.

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In terms of material, the plastic furniture segment is observing increasing adoption among customers due to some of its benefits like easy maintenance, high durability, economical pricing, and lightweight. Plastic furniture is generally made of polypropylene that has a copolymer for impact as well as one for rigidity. It also contains 15% filler to offer effectively decrease prices and enhance rigidity. The plastic material segment is projected to expand at a CAGR of more than 4% through the analysis timespan.

With regards product, the growing adoption of daybeds and loungers across several commercial application avenues like bars, office lounges, hotels, restaurants, resorts, and swimming pools is expected to augment the segment growth over the coming years. These products offers better comfort to consumers and come with superior customization and styling capabilities, which his further impelling their demand across such commercial establishments, fueling industry revenues. In 2019, the segment held an industry demand share of more than 7.5% with estimates anticipating to record more growth over the projected timeframe.

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Steady improvements in economic conditions, rapid urbanization, improving lifestyles, and increasing level of disposable income of consumers across countries like South Korea, India, and China is expected to majorly drive the Asia Pacific outdoor furniture market share. In addition, the growing influence of western trends and culture coupled with increasing consumer inclination towards multifunctional furniture would further drive product demand across the Asia Pacific. Moreover, easy availability of the number of different raw materials used to create outdoor furniture would also complement the regional market trends. Owing to these factors, the Asia Pacific outdoor furniture market is projected to expand with a rate of more than 5.5% in terms of volume share through the forthcoming timespan.

Major market players are increasingly focusing on acquisitions to effectively expand their footprint in other regions and boost revenues exponentially. Taking January 2020 for instance, Twin Star Home, a residential furnishings producer, reportedly announced the acquisition of TK Classics, a US-based designer and producer of outdoor furniture such as dining tables, upholstered seating, bars, and accessories, to increase its market position significantly and also expand its own product portfolio when it comes to outdoor living.

The competitive landscape of the global outdoor furniture market is inclusive of players such as Gloster, Fischer Mobel GmbH, Agio International Company Limited, Kettal, Homecrest Outdoor Living, Treasure Garden Incorporated, Brown Jordan, Inter IKEA Group, Century Furniture and Ashley Furniture Industries among others.

Report Content

Chapter 1. Methodology & Scope

1.1. Research methodology

1.1.1.    Initial data exploration

1.1.2.    Statistical model and forecast

1.1.3.    Industry insights and validation

1.1.4.    Definitions

1.1.5.    Assumptions, scope & forecast parameters

1.1.6.    Base estimation & working    North America    Europe    Asia Pacific    Latin America    Middle East & Africa

1.2. Forecast calculation

1.2.1.    COVID-19 impact calculations on industry forecast

1.3. Data sources

1.3.1.    Primary

1.3.2.    Secondary

Chapter 2. Executive Summary

2.1. Outdoor furniture industry 360° synopsis, 2016 – 2026

2.1.1.    Business trends

2.1.2.    Material trends

2.1.3.    Product trends

2.1.4.    End use trends

2.1.5.    Regional trends

Chapter 3. Outdoor Furniture Industry Insights

3.1. Industry segmentation

3.2. Industry size and forecast, 2016 – 2026

3.2.1.    COVID-19 impact on industry size

3.3. Industry ecosystem analysis

3.3.1.    Supply chain analysis

3.3.2.    Raw material suppliers    Covid-19 impact on raw material supply    Raw material suppliers by region    North America    Europe    Asia Pacific    Latin America    MEA

3.3.3.    Importers

3.3.4.    Distributors

3.3.5.    Manufacturers    Challenges faced by furniture manufacturers

3.3.6.    Wholesalers

3.3.7.    Furniture Assemblers

3.3.8.    Distribution channel analysis    B2B    B2C    E-commerce    Covid-19 impact on distribution channels

3.3.9.    Profit margin trends

3.4. Vendor matrix

3.5. Technology & innovation landscape

3.5.1.    Computer Aided Design (CAD)

3.5.2.    Computer Aided Manufacturing (CAM)

3.5.3.    CNC bending and cutting

3.5.4.    New Materials

3.5.5.    Innovation for sustainability

3.5.6.    Innovation in marketing using technology

3.5.7.    Innovation in design & technology

3.6. Regulatory landscape

3.6.1.    North America    U.S.

3.6.2.    Europe

3.6.3.    Asia Pacific    China

3.6.4.    Latin America    Mexico    Brazil

3.6.5.    MEA    South Africa

3.7. Manufacturing base, by region (Manufacturer)

3.8. Trade Statistics

3.8.1.    Courtyard Creations Inc    Export statistics    List of importing customers

3.8.2.    Fred Meyer Inc    Import statistics    List of exporting companies

3.8.3.    Ups SCS China Limited Ningbo    Export statistics    List of importing customers

3.8.4.    Costco wholesale Corp    Import statistics in USA    List of exporting companies

3.8.5.    UPS SCS China Limited Shenzhen    Export statistics    List of importing customers

3.8.6.    Agio-International-Co-Ltd    Export statistics    List of importing customers

3.8.7.    Nebraska Furniture Mart Inc    Import statistics in USA    List of exporting companies

3.8.8.    At Home Procurement Inc    Import statistics in USA    List of exporting companies

3.8.9.    Overall furniture market trade statistics    Major importing countries    Major exporting countries

3.9. Used wood species per country

3.9.1.    Birch

3.9.2.    Beech

3.9.3.    Walnut

3.9.4.    Teak

3.9.5.    Other (Oak, Maple)

3.10. Wooden outdoor furniture manufacturers analysis

3.10.1.    Price range

3.10.2.    Value/supply chain analysis Raw material supplier Importer Manufacturer Wholesaler Distributor E-Commerce End-User

3.10.3.    Industry participants, by country Key manufacturers Key wholesalers Key distributors Key retailers

3.11. Industry best practices and key buying criteria

3.11.1.    Regulatory compliance

3.11.2.    Product / Material Efficiency

3.11.3.    Manufacturing Cost

3.11.4.    Technological advancements

3.11.5.    Consumer Behavior Analysis by Region

3.11.6.    North America Unmet needs Social & Cultural impact forces Information search Evaluation of alternative Purchase decision Post purchase evaluation

3.11.7.    Europe Unmet needs Social & Cultural impact forces Information search Evaluation of alternative Purchase decision Post purchase evaluation

3.11.8.    Asia Pacific Unmet needs Social & Cultural impact forces Information search Evaluation of alternative Purchase decision Post purchase evaluation

3.11.9.    Latin America Unmet needs Social & Cultural impact forces Information search Evaluation of alternative Purchase decision Post purchase evaluation

3.11.10.    Middle East & Africa    Unmet needs    Social & Cultural impact forces    Information search    Evaluation of alternative    Purchase decision    Post purchase evaluation

3.12. Pricing analysis

3.12.1.    Regional pricing

3.12.2.    Covid-19 impact on pricing

3.13. Cost structure analysis

3.14.    Industry impact forces

3.14.1.    Growth drivers Rapid expansion of product portfolio & distribution network    Socialization accompanied by increasing consumer spending on leisure & experiences    Increasing tourism industry across the world

3.14.2.    Industry pitfalls & challenges Limited availability of skilled labor to meet fluctuating consumer demand

3.15. Global construction industry overview

3.15.1.    Rise in construction spending

3.16.    Growth potential analysis, 2019

3.17.    Competitive landscape, 2019

3.17.1.    Market share analysis, 2019

3.17.2.    Key stakeholders

3.18.    Strategy dashboard

3.19.    Porter’s analysis

3.20.    PESTLE analysis

3.21.    Covid-19 impact on end use

Table of contents for this research [email protected] https://www.gminsights.com/toc/detail/outdoor-furniture-market

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