North America Outdoor Furniture Market Forecasts – US$7 Bn Revenue in 2024

Global Market Insights, Inc. has recently added a new report on outdoor furniture market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of furniture industry.

Selbyville, United States – May 22, 2019 /MarketersMedia/ —

The North America outdoor furniture market size is influenced by increasing hospitality sector expansion coupled with growth in the outbound trips. The region witnessed more than 4% growth in travel & tourism. Increasing financial ability to spend on leisure & experiences is propelling the consumer spending on outdoor furniture in the residential sector.

According to a report by GMI, Outdoor Furniture Market size is estimated to expand at 5% CAGR over USD 23 billion by 2024. Excellent weather resistance, crack proofing, insect resistance, pest & fungus repulsion and a superior tensile strength are among the key factors making it an ideal choice for outdoor furniture. Most of the manufacturers are turning their interest into crafting eco-friendly fixtures using MOSO bamboo, which is stronger and harder than oak. Also, an enhancing outer appearance to signify matching architectural themes & style of living spaces and backyards of houses plays a major role in the purchase decision.

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Residential sector dominated the outdoor furniture market application segment and accounted for over 60% share in 2017. The increasing usage of garden furniture for decor and aesthetics coupled with the increasing household sales is supporting the segment growth over the study time frame. Outdoor furniture is used in backyards, lawns, balconies, and rooftop gardens for enhancing the overall household appeal and facilitating seating purposes.

Outdoor Furniture Market Growth drivers-
1 Rapid expansion of product portfolio & distribution network
2 Socialization accompanied by increasing consumer spending on leisure & experiences

Outdoor furniture market size from wood material will witness a CAGR at over 4.5% up to 2024. Wood is one of the popular material choices in garden furniture due to its superior comfort, eco-friendly, strong build, and aesthetic appeal. They are widely used for the production of outdoor furniture for the residential and commercial sectors. Wood based furniture is lightweight, long lasting, and offers natural and rich appeal, thereby fueling industry growth.

Browse key industry insights spread across 500 pages with 499 market data tables & 10 charts & figures from the report, “Outdoor Furniture Market Share & Forecast, 2019-2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/outdoor-furniture-market

The outdoor furniture sector has come a long way from the uncomfortable and extremely utilitarian one-piece picnic tables and aluminum lounge chairs where it all started. Now outdoor furniture comprises a wide variety of styles, designs and functionality and figures as one of the most rapidly growing categories in the furniture industry. With consumers expecting their outdoor furniture to be fashionable, long lasting and eco-friendly, manufacturers are focusing on developing furniture from such materials as MOSO bamboo which is known to be stronger than oak. As spending in lifestyle sector continues to increase, the outdoor furniture market size is expected to gather momentum over 2018-2024.

Asia Pacific outdoor furniture market will witness a CAGR at over 4.5% in terms of volume from 2018 to 2024. International tourism is gaining a strong attention in countries including China, Malaysia, South Korea, Singapore, and India. Thailand is among the most attractive tourism countries along with Singapore and China, which is mainly driven demand for the garden lounges, chairs, table sets, and other furnishing products. In 2016, Thailand travel and tourism noted over 32.6 million international arrivals with an 8.9% YoY growth.

Ashley Industries, Inter IKEA Group, Century, Agio International Company Limited, Brown Jordan, Barbeques Galore, Keter Group, and Lloyd Flanders are among major outdoor furniture market share. The global industry share is extremely fragmented with a large presence of industry players at global and regional level.

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Partial Table of Contents (ToC) of the report:

Chapter 4 Outdoor Furniture Market, By Material
4.1 Outdoor furniture share by material, 2017 & 2024
4.2 Wood
4.3 Metal
4.4 Plastic
4.5 Textile
4.6 Others

Chapter 5 Outdoor Furniture Market, By Product
5.1 Outdoor furniture share by product, 2017 & 2024
5.2 Chairs
5.3 Tables
5.4 Seating sets
5.5 Dining sets
5.6 Loungers & daybeds
5.7 Others

Chapter 6 Outdoor Furniture Market, By End-Use
6.1 Outdoor furniture market share by end-use, 2017 & 2024
6.2 Residential
6.3 Commercial
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/outdoor-furniture-market

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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Phone: 18886890688
Website: https://www.gminsights.com/industry-analysis/outdoor-furniture-market

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