Rising trend towards travelling and shift in lifestyle to drive North America outdoor furniture market at CAGR of 4.6%

According to the latest study on “North America Outdoor Furniture Market Forecast to 2027 – Covid-19 Impact and Analysis – by Material (Metal, Plastic, Wood, Others); Product (Chairs, Tables, Seating Sets, Loungers and Daybeds, Dining Sets); End User (Residential, Commercial); and Country,” the North America outdoor furniture market was valued at US$ 5,807.13 million in 2018 and is projected to reach US$ 8,750.91 Million by 2027; it is expected to grow at a CAGR of 4.6 %during 2019–2027. 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, loungers, daybeds, hammocks, and others are quite popular among both the residential and commercial customers. The outdoor furniture market on a wide scale has been witnessing substantial growth in the recent past. Factors including the rise in consumer spending & traveling trends resulted in a rise in the number of tourists across the world. These factors are mostly observed in tourist spots, beach sides, and hill stations, thereby leading to multiplying counts of motels, hotels, guest houses, resorts, open spaces, and public gardens. Based on material, the outdoor furniture market is categorized into wood, metal, plastic and others. In 2018, the wood segment dominated the North American outdoor furniture market with a 58.4% share. A growing number of hotels and restaurants are further expected to propel the outdoor furniture market during the forecast period. Moreover, increasing the financial capacity of consumers to spend on leisure activities is inducing the consumer 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 some of the key products generating substantial revenue in the outdoor furniture market. However, the plastic segment is expected register a higher CAGR during the forecast period. Based on product, the outdoor furniture market is categorized into chairs, tables, seating sets, loungers & daybeds and dining sets. In 2018, the seating sets segment accounted for a major share of North America outdoor furniture market. As per end user the outdoor furniture is bifurcated into residential and commercial. In 2018, the residential segment accounted for a major share in the North America outdoor furniture market.

A shift in consumer lifestyle has resulted in rise in investment in travelling and exploration activities. The travel and tourism sector has become a significant contributor in developing preference towards the use of outdoor furniture to enhance aesthetic appeal of commercial and residential spaces along with catering to luxury needs of consumers. For instance, according to The United Nations World Tourism Organization (UNWTO), the international tourist arrivals across the world rose up by 6% in 2018 and went up to 1.4 billion. Further, as stated by The World Travel & Tourism Council (WTTC) in 2018, the travel and tourism sector generated 10.4% of world’s GDP. Also, North American countries are considered to be the most preferred hub of tourism hotspot. Other than this, rising rate of tourism in countries such as US, Canada and Mexico are also propelling the market growth in the region. Further, rise in focus towards attractive garden and lounge areas has perpetually driven the demand for aesthetic items such as chairs, tables, and other accessories. It is expected to have a positive impact upon market growth. The shift in consumer spending towards better living backed by rise in per capita and disposable income has augmented the growth of outdoor furniture market. Furthermore, growing trend towards traveling is also expected to boost the demand for outdoor furniture market.

Among all the major regions in the world, North America grabs the higher market share of the outdoor furniture market during the forecast period. The companies in North America are continuously enhancing the overall business processes to meet the customers demand in the best possible way. Several domestic and international companies have a strong foothold in the North American region. The region largely supports the growth of the outdoor furniture market through strong focus on investments in construction and real estate sectors. In the North America region, U.S. is the chief market in the region, followed by Canada and Mexico. Demand for outdoor furniture is high, and industrialists are eyeing for opportunities to enlarge their business operations with improving economic conditions. In the region, the demand for outdoor furniture is strongly supported by a number of factors. Such factors includes the rapid growth of the economy backed by rise in urbanization coupled with increase in number of commercial properties and the improving income levels facilitating the demand for outdoor furniture in the region. Further, the developed economy of North America encompasses a growth potential and better opportunities in residential sector. Further, adoption of trend of family gatherings & dinners at residential places along with focus on development of garden areas in offices and propagation of recreational centers are altogether expected to proliferate the demand for outdoor furniture market in the region.

Recently, the World Health Organization (WHO) announced the outbreak of COVID-19, the novel form of a disease caused by the virus SARS-CoV-2, as a pandemic. This outbreak started in December 2019 in Wuhan, China, and later, it turned into a pandemic, causing numerous deaths worldwide. Outdoor furniture are such kind of furniture and facilities which are designed for outdoor purposes and includes chairs, tables, seating sets, daybeds and many other such options. The outbreak of COVID-19 pandemic has severely impacted the consumer goods industry. The shutdowns of this industry and supply chain disruptions due to lockdown of countries has created a strain on the supplies of the products of this industry. The US has the highest number of confirmed cases of COVID-19 morbidities in North America. This is likely to impact the consumer goods industry in the region as the supply and distribution chains are likely to get affected. In addition, the overall manufacturing processes, and research, and development activities will also impact market growth.

The North America outdoor furniture market is concentrated with several well-established players. A few of the key players in this market include are Agio International Company, Ltd., Ashley Home Stores, Ltd., Barbeques Galore, Brown Jordan, Century Furniture LLC, Home crest Outdoor Living LLC, Inter Ikea Systems B.V., Keter Group, Florida Patio Furniture Inc., and Polywood.

North America Outdoor Furniture Market Revenue and Forecast to 2027

The report includes the segmentation of North America outdoor furniture market as follows:

By Material

• Wood
• Metal
• Plastic
• Others

By Product

• Chairs
• Tables
• Seating Sets
• Loungers and Daybeds
• Dining Sets

By End User

• Residential
• Commercial

By Country

• US
• Canada
• Mexico

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com