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MoreAccording to a report from Zion Market Research, the global Outdoor Furniture Market was valued at USD 48.89 Billion in and is projected to hit USD 80.52 Billion by , with a compound annual growth rate (CAGR) of 5.7% during the forecast period -.
This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Outdoor Furniture Market industry over the next decade.
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The report offers assessment and analysis of the Outdoor Furniture Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from to along with a forecast from to based on revenue (USD Billion).
Outdoor furniture finds myriad applications in residential, industrial, and commercial sectors. Moreover, growing customer preference towards improving aesthetic appeal of outdoor spaces will facilitate improvement in design & production of furniture for outdoor use. Apparently, massive demand for furniture (with new features) in gardens and balconies will boost market size. Changing seasonal cycles in various countries can have direct impact on use of raw material types for manufacturing outdoor furniture. Additionally, outdoor furniture is also referred to as patio furniture that is manufactured for outdoor fittings and is produced from weather resistant materials. Moreover, this furniture is utilized for increasing comfort, particularly, of aging persons.
Surge in per capita income and spending on travel & tourism activities will steer growth of outdoor furniture market in years ahead. Apart from this, rapidly changing lifestyles of young population is set to create new growth avenues for outdoor furniture market over upcoming period. In addition to this, rise in addition to existing product line will embellish expansion of outdoor furniture industry over forecasting timeline. Thriving hotel & restaurant sector will prop up size of outdoor furniture industry in years to come.
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Moreover, a large number of household owners are highlighting on improving garden as well as balcony appearance and this has converted into huge product demand. Need for producing eco-friendly products due to renewable energy trends across globe will kindle outdoor furniture market development over upcoming years. Profitability of outdoor furniture market can be attributed to surge in spending capacity of consumers along with high focus of manufacturers on producing outdoor furniture for beach resorts and restaurants as well as motels.
Furthermore, rise in consumer spending on leisure activities will culminate into humungous growth of outdoor furniture industry.. Additionally, high costs incurred while installing outdoor furniture will also produce glitches in the growth path of outdoor furniture market in years ahead. Nonetheless, increase in disposable income of customers resulting in rise in living standards will not only help outdoor furniture market space attain new destinations of growth, but will offset impact of hindrances on market growth factors.
Key participants influencing market size and profiled in study are-
North America To Make Notable Contributions Towards Overall Market Size By
Growth of outdoor furniture market in North America during forecast timeline is owing to increase in customer trend towards furniture with new features. In addition to this, surge in number of offices with gardens to improve working conditions in office space and increase in recreational units will reinforce market landscape in the region. Apart from this, smart home concept has become a buzzword for people in countries such as Canada and the U.S. and this is likely to pave a way for growth of outdoor furniture market in North America over years to come.
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High inclination of End-Userrs on purchase of compact size houses has culminated into massive focus of furniture manufacturers on producing furniture with manifold features for these households. This, in turn, is predicted to contribute significantly towards regional market earnings in upcoming years.
By Product
By End-User
By Material
By Region
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