Report : Europe Outdoor Furniture Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Material (Metal, Plastic, Wood, and Others); Product (Chairs, Tables, Seating Sets, Loungers and Daybeds, and Dining Sets); and End User (Residential, and Commercial
Rising Trend of Travelling and Shifting Lifestyle to Drive Growth of Europe Outdoor Furniture Market at CAGR of 4.8% during 2021–2028
According to the latest study on “Europe Outdoor Furniture Market Forecast to 2028 – COVID-19 Impact and Analysis – by Material (Metal, Plastic, Wood, and Others), Product (Chairs, Tables, Seating Sets, Loungers & Daybeds, and Dining Sets), and End User (Residential and Commercial),” the market was valued at US$ 5,101.88 million in 2020 and is projected to reach US$ 7,340.34 million by 2028; it is expected to grow at a CAGR of 4.8% from 2021 to 2028. The report provides understanding on the key driving factors pertaining to the market growth and highlights the prominent players in the market, along with their developments.
Outdoor furniture, such as chairs, tables, seating sets, dining sets, lounges, daybeds, and hammocks, are popular among residential and commercial customers. The outdoor furniture market has been witnessing substantial growth since the recent past which is due to high purchasing power of the consumer’s and traveling trends are increasing the number of tourists across Europe. Most of the tourists visit tourist spots, beach sides, and hill stations. Therefore, the number of motels, hotels, guest houses, resorts, open spaces, and public gardens is surging in such places. Hence, a growing number of hotels and restaurants is expected to propel the Europe outdoor furniture market during the forecast period. Moreover, the increasing financial capacity of consumers to spend on leisure activities is inducing the consumers to spend a higher amount on outdoor furniture in the residential sector. Several homeowners are mainly focusing on enhancing the garden or open areas or balcony appearance with aesthetically appealing sitting areas. Lounge chairs, seating sets, and tables are a few of the key products generating a substantial revenue in the outdoor furniture market in Europe.
Consumers across Europe are considerably spending on traveling and tourism. A shift in consumer lifestyle has resulted in the rise in investment in travelling and exploration activities. The travel & tourism sector has become a significant contributor in developing preference toward the use of outdoor furniture to enhance aesthetic appeal of commercial and residential spaces along with catering to luxury needs of consumers. European countries are considered to be the most preferred hub of tourism hotspot. The tourism trends are mainly observed in beaches, hill stations, monumental places, and coastal areas, which surges the number of hotels, resorts, public gardens, restaurants lounges, bars, and open spaces. According to Eurostat, in 2019, Spain was the most preferred location in the European Union for international tourists. Hence, it has ultimately pushed the investments in better and advanced form of outdoor furniture. Amongst the most preferred form of furniture, upholstery items, and decorative lounge chairs and table are considered as crucial sources for revenue-derivation in the outdoor furniture market. Further, rising focus on attractive garden and lounge areas has propelled the demand for aesthetic items such as chairs, tables, and other accessories, which is expected to drive the market growth in the coming years. The shift in consumer spending toward better living backed by the rise in per capita and disposable income augmented the growth of the Europe outdoor furniture market. Furthermore, the growing trend of traveling is expected to boost the growth of the market during the forecast period.
Among all the major regions across the world, Europe holds the second highest share of the outdoor furniture market. The companies in Europe are continuously enhancing the overall business processes to meet the customers demands. Several domestic and international companies have a strong foothold in Europe. The region largely supports the growth of the outdoor furniture market through the strong focus on investments in the construction and real estate sectors. In Europe, Germany is the major market, followed by Italy and the rest of Europe. Demand for outdoor furniture is high, and industrialists are eyeing for opportunities to enlarge their business operations with improving economic conditions. The demand for outdoor furniture in Europe has surged owing to the adoption of better standards of living along with high income level in the western parts. The western part is one of the wealthiest regions in Europe with a higher per capita GDP than the other parts. Rising disposable income, urbanization, and changing lifestyle are further boosting the market growth. The high purchasing power of the consumers results in rising demand for outdoor furniture. Six main member states in Europe that are involved in the outdoor furniture manufacturing are the UK, Netherlands, Italy, Spain, Belgium, and Germany. The manufactured outdoor furniture are marketed across Europe. The European manufacturers at the nascent stage exported their products to Central and South America, South East, and Far East. Besides this, the growing application of outdoor furniture in residential and commercial applications fuels the growth of the outdoor furniture market in Europe.
The Europe outdoor furniture market is concentrated with several well-established players. A few of the key market players are Ashley Home Stores Ltd., Alexander Rose, DEDON GmbH, Century Furniture LLC, Inter Ikea Systems B.V., Keter Group, and Polywood.
Impact of COVID-19 Pandemic on Europe Outdoor Furniture Market
In Europe, the UK, Russia, France, Spain, Italy, and Germany are the hardest-hit countries due to the COVID-19 pandemic. Initially, other member states implemented drastic measures and imposed travel restrictions by partially closing their borders, which adversely impacted the import and export of products. The shutdown of supermarkets and hypermarkets, and retail outlets in Europe due to the pandemic has had a negative impact on of the distribution of outdoor furniture. The gradual upliftment of lockdown restrictions in certain countries in Europe would facilitate the recovery of industries and logistics operations, which would have a positive impact on the outdoor furniture market in Europe. In addition, the reopening of retail outlets and supermarkets and hypermarkets is expected to increase the availability of outdoor furniture to the consumers, which would bolster the Europe outdoor furniture market in the coming years.
The “Europe Outdoor Furniture Market Analysis to 2028” is a specialized and in-depth study of the consumer goods industry with a special focus on the global market trend analysis. The report aims to provide an overview of the market with detailed market segmentation by material, product, and end user. Based on material, the Europe outdoor furniture market is segmented into metal, plastic, wood, and others. Based on product, the market is segmented into chairs, tables, seating sets, loungers & daybeds, and dining sets. Based on end user, the market is bifurcated into residential and commercial.
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