Global Outdoor Furniture Market Outlook 2020-2027 Featuring Ashley Home Stores, Brown Jordan, Inter IKEA Systems, and Polywood Among Key Others - ResearchAndMarkets.com
The report highlights key factors driving the market growth and prominent players along with their developments in the market.
The "Outdoor Furniture Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Material, Product, End User" report has been added to ResearchAndMarkets.com's offering.
Rising trend towards travelling and shift in lifestyle to escalate market growth at a CAGR of 4.5% during 2019-2027
According to the study, the global outdoor furniture market was valued at US$ 17,843.73 million in 2018 and is projected to reach US$ 26,598.51 million by 2027; it is expected to grow at a CAGR of 4.5% from 2019 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
The outdoor furniture market on a global scale has been witnessing substantial growth in the recent past. Factors such as a rise in consumer spending and traveling trends have resulted in a surge in the number of tourists across the world. These factors are mostly observed in tourist spots, beach sides, and hill stations, thereby leading to increased counts of motels, hotels, guest houses, resorts, open spaces, and public gardens. Hence, a growing number of hotels and restaurants are further expected to propel the outdoor furniture market during the forecast period.
Consumer spending on traveling and tourism has considerably increased across the world. A shift in consumer lifestyle has resulted in a rise in investment for traveling and exploration activities. The travel and tourism sector has become a significant contributor in developing preference towards the use of outdoor furniture to enhance the aesthetic appeal of commercial and residential spaces along with catering to the luxury 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 & Tourism Council (WTTC) in 2018, the travel and tourism sector generated 10.4% of global GDP. Additionally, European countries are considered to be the most preferred hub for tourism. Moreover, the rising rate of tourism in countries such as 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 are among the well-established players in the global outdoor furniture market.
COVID-19's Impact on the Global Outdoor Furniture Market
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 worst-affected countries in terms of 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 due to lockdowns, travel bans, and business shutdowns.
Consumer goods is one the world's major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this pandemic. China is the global manufacturing hub and is the largest raw material supplier for various industries; however, it is also one of the worst-affected countries by the COVID-19 pandemic. The lockdown of various plants and factories in China is affecting the global supply chains and adversely impacting the manufacturing and sales of various outdoor furniture companies. The overall market break down due to COVID-19 is also affecting the outdoor furniture market growth due to shutting down of factories, obstacle in supply chain, and downturn in world economy.
Key Topics Covered
1. Introduction
1.1 Study Scope
1.2 Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
4. Outdoor Furniture Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Expert Opinion
5. Outdoor Furniture Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Trend Towards Travelling and Shift in Lifestyle
5.1.2 Growing Preference for Aesthetic Furniture
5.2 Market Restraints
5.2.1 High Cost Along With Long Replacement Cycle May Impede Market Growth
5.3 Market Opportunities
5.3.1 Rise in Use of Multipurpose Outdoor Furniture
5.4 Future Trends
5.4.1 Adoption of Eco-Friendly Materials
5.5 Impact Analysis of Drivers and Restraints
6. Outdoor Furniture - Global Market Analysis
6.1 Outdoor Furniture Market Overview
6.2 Outdoor Furniture Market - Revenue and Forecast to 2027 (US$ Mn)
6.3 Market Positioning - Key Market Players
7. Outdoor Furniture Market Analysis - By Material
7.1 Overview
7.2 Outdoor Furniture Market, By Material (2018 and 2027)
7.3 Metal
7.4 Plastic
7.5 Wood
7.6 Others
8. Outdoor Furniture Market Analysis - By Product
8.1 Overview
8.2 Outdoor Furniture Market, By Product (2018 and 2027)
8.3 Chairs
8.4 Tables
8.5 Seating Sets
8.6 Loungers and Daybeds
8.7 Dining Sets
9. Outdoor Furniture Market Analysis - By End User
9.1 Overview
9.2 Outdoor Furniture Market, By End User (2018 and 2027)
9.3 Residential
9.4 Commercial
10. Outdoor Furniture Market - Geographic Analysis
10.1 Overview
10.2 Europe Outdoor Furniture Market Revenue and Forecasts to 2027
10.3 Asia-Pacific Outdoor Furniture Market Revenue and Forecasts to 2027
10.4 MEA Outdoor Furniture Market, Revenue and Forecast to 2027
10.5 South America Outdoor Furniture Market Revenue and Forecasts to 2027
11. Overview - Impact of the COVID-19 Outbreak
12. Impact of COVID-19 Pandemic on Global Outdoor Furniture Market
12.1 North America: Impact Assessment of COVID-19 Pandemic
12.2 Europe: Impact Assessment of COVID-19 Pandemic
12.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
12.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
12.5 South America: Impact Assessment of COVID-19 Pandemic
13. Key Company Profiles
13.1 Agio International Company, Ltd.
13.2 Ashley Home Stores, Ltd.
13.3 Barbeques Galore
13.4 Brown Jordan
13.5 Century Furniture LLC
13.6 Home crest Outdoor Living LLC
13.7 Keter Group
13.8 Inter IKEA Systems B.V.
13.9 Florida Patio Furniture Inc.
13.10 Polywood
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