Outdoor Furniture Market to Hit USD 20.6B by 2026, Says Global Market Insights, Inc.

SELBYVILLE, Del., July 21, 2020 (Newswire.com) - ​​​​Global Market Insights, Inc. has recently added a new report on the outdoor furniture market which estimates the market valuation for outdoor furniture will cross US $20.6 billion by 2026. Growth in commercial sectors, including educational institutions, hospitality and offices, is escalating the industry growth in developing regions.

Globalization has led to the evolution of strategies adopted by the suppliers and distributors in the industry, where geographical expansion and technological innovations in distribution management are the emerging trends. Declining tariffs and a high potential in developing markets are the key factors fueling the retail chain’s expansion to international levels.

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Partnerships between large-scale distributors and foreign suppliers supplement the strategy. The upsurge in demand for online purchases due to convenience has led to the distributors developing their own e-commerce buying platforms with an extensive product range. In addition, they have also introduced features, such as real-time tracking, product, and price comparison, to improve the consumer experience.

The popularity of plastic furniture is witnessing a rapid growth among consumers, owing to features such as being lightweight, easy maintenance, economical pricing, and high durability. Plastic furniture basically has a composition of polypropylene that contains copolymer for rigidity and copolymer for impact, along with the incorporation of 15% filler to provide improved rigidity and reduced prices. The plastic material segment will witness increasing penetration and shall escalate with over a 4% CAGR over the projected timeframe.

The increasing adoption of loungers and daybeds across multiple applications, including office lounges, bars, restaurants, hotels, resorts, and swimming pools, is supporting the segment's growth over the forecast timeframe. The enhanced comfort offered by this furniture, coupled with superior styling and customization capabilities, is further supporting the segment share till 2026. The loungers and daybeds segment held over a 7.5% demand share in 2019.

Browse key industry insights spread across 531 pages with 499 market data tables and 33 figures and charts from the report, “Outdoor Furniture Market Share & Forecast, 2020 – 2026”, in detail, along with the table of contents:

https://www.gminsights.com/industry-analysis/outdoor-furniture-market

Asia-Pacific is the fastest-growing market and is expected to grow at more than a 5.5% CAGR by volume during 2020 to 2026. Rising disposable income of individuals, improving lifestyles, rapid urbanization, and a steady improvement in the economic conditions of the countries including China, India, and South Korea will promote significant business growth. The increasing influence of Western culture and trends, shifting consumer trends toward multifunctional furniture, and the availability of raw materials will augment the regional demand.

Mergers and acquisitions are a primary strategy followed by most industry players to strengthen market share. For instance, in July 2017, The Home Depot, Inc. announced a definitive contract to acquire Compact Power Equipment, Inc., a leading provider of equipment rental and maintenance. The acquisition is aimed at enhancing the customer experience for professional customers through improvised tools and equipment offerings.

Some major findings of the outdoor furniture market report include:

• The increasing hospitality industry in the Asia-Pacific and the Middle East shall augment market growth over the forecast period.
   
• Rising disposable income in the Asia-Pacific will propel the outdoor furniture market in the region.
   
• The demand for outdoor spaces in residential dwellings, owing to increased social gathering trends globally, will proliferate the market.
   
• Integration of online and offline distribution channels by manufacturers are supporting the growth of outdoor furniture markets.
   
• The introduction of biopolymers and ecofriendly materials in production will enhance market opportunities in the coming years.

Prominent industry participants are Ashley Furniture Industries, Century Furniture, Inter IKEA Group, Brown Jordan, Treasure Garden Incorporated, Homecrest Outdoor Living, Kettal, Agio International Company Limited, Fischer Mobel GmbH, and Gloster.

Browse the report's complete table of contents at https://www.gminsights.com/toc/detail/outdoor-furniture-market

Partial chapters of the report's table of contents (TOC):

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

3.3.2.1.    COVID-19 impact on raw material supply

3.3.2.2.    Raw material suppliers by region

3.3.2.2.1.    North America

3.3.2.2.2.    Europe

3.3.2.2.3.    Asia-Pacific

3.3.2.2.4.    Latin America

3.3.2.2.5.    MEA

3.3.3.    Importers

3.3.4.    Distributors

3.3.5.    Manufacturers

3.3.5.1.    Challenges faced by furniture manufacturers

3.3.6.    Wholesalers

3.3.7.    Furniture Assemblers

3.3.8.    Distribution channel analysis

3.3.8.1.    B2B

3.3.8.2.    B2C

3.3.8.3.    E-commerce

3.3.8.4.    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

3.6.1.1.    U.S.

3.6.2.    Europe

3.6.3.    Asia-Pacific

3.6.3.1.    China

3.6.4.    Latin America

3.6.4.1.    Mexico

3.6.4.2.    Brazil

3.6.5.    MEA

3.6.5.1.    South Africa

3.7. Manufacturing base, by region (Manufacturer)

3.8. Trade Statistics

3.8.1.    Courtyard Creations Inc

3.8.1.1.    Export statistics

3.8.1.2.    List of importing customers

3.8.2.    Fred Meyer Inc

3.8.2.1.    Import statistics

3.8.2.2.    List of exporting companies

3.8.3.    Ups SCS China Limited Ningbo

3.8.3.1.    Export statistics

3.8.3.2.    List of importing customers

3.8.4.    Costco wholesale Corp

3.8.4.1.    Import statistics in USA

3.8.4.2.    List of exporting companies

3.8.5.    UPS SCS China Limited Shenzhen

3.8.5.1.    Export statistics

3.8.5.2.    List of importing customers

3.8.6.    Agio-International-Co-Ltd

3.8.6.1.    Export statistics

3.8.6.2.    List of importing customers

3.8.7.    Nebraska Furniture Mart Inc

3.8.7.1.    Import statistics in USA

3.8.7.2.    List of exporting companies

3.8.8.    At Home Procurement Inc

3.8.8.1.    Import statistics in USA

3.8.8.2.    List of exporting companies

3.8.9.    Overall furniture market trade statistics

3.8.9.1.    Major importing countries

3.8.9.2.    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

3.10.2.1. Raw material supplier

3.10.2.2. Importer

3.10.2.3. Manufacturer

3.10.2.4. Wholesaler

3.10.2.5. Distributor

3.10.2.6. E-Commerce

3.10.2.7. End-User

3.10.3.    Industry participants, by country

3.10.3.1. Key manufacturers

3.10.3.2. Key wholesalers

3.10.3.3. Key distributors

3.10.3.4. 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

3.11.6.1. Unmet needs

3.11.6.2. Social & Cultural impact forces

3.11.6.3. Information search

3.11.6.4. Evaluation of alternative

3.11.6.5. Purchase decision

3.11.6.6. Post purchase evaluation

3.11.7.    Europe

3.11.7.1. Unmet needs

3.11.7.2. Social & Cultural impact forces

3.11.7.3. Information search

3.11.7.4. Evaluation of alternative

3.11.7.5. Purchase decision

3.11.7.6. Post purchase evaluation

3.11.8.    Asia-Pacific

3.11.8.1. Unmet needs

3.11.8.2. Social & Cultural impact forces

3.11.8.3. Information search

3.11.8.4. Evaluation of alternative

3.11.8.5. Purchase decision

3.11.8.6. Post purchase evaluation

3.11.9.    Latin America

3.11.9.1. Unmet needs

3.11.9.2. Social & Cultural impact forces

3.11.9.3. Information search

3.11.9.4. Evaluation of alternative

3.11.9.5. Purchase decision

3.11.9.6. Post purchase evaluation

3.11.10.    Middle East & Africa

3.11.10.1.    Unmet needs

3.11.10.2.    Social & Cultural impact forces

3.11.10.3.    Information search

3.11.10.4.    Evaluation of alternative

3.11.10.5.    Purchase decision

3.11.10.6.    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

3.14.1.1. Rapid expansion of product portfolio & distribution network

3.14.1.2.    Socialization accompanied by increasing consumer spending on leisure & experiences

3.14.1.3.    Increasing tourism industry across the world

3.14.2.    Industry pitfalls & challenges

3.14.2.1. 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

Browse related report:

Wooden Furniture Market Size By Application (Residential [Upholstered Furniture, Non-Upholstered Furniture, Bedroom, Kitchen Cabinet, Dining Room, Blinds & Shades, Mattresses], Commercial [Business/Office, Educational, Healthcare, Hospitality]), Regional Outlook, Competitive Market Share & Forecast, 2019 – 2025

https://www.gminsights.com/industry-analysis/wooden-furniture-market

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Source: Global Market Insights, Inc.