The global outdoor furniture market size was valued at USD 48.40 billion in 2022. The market Ssze is projected to grow from USD 50.73 billion in 2023 to USD 72.80 billion by 2030, exhibiting a CAGR of 5.30% during the forecast period. Outdoor furniture is mainly used to bring comfort and cosiness to outdoor settings. It is usually designed to withstand severe climatic conditions such as heat, cold temperatures, and rain. It is multi-functional and needs low maintenance and brings a charm to spaces such as lawns, gardens, and backyards of homes. Increasing urbanization and growing living standards of people have encouraged manufacturers to design furniture as per latest fashion and luxury trends thus aiding market proliferation.

Segmentation:

Tables Segment to Lead Stoked by Rising Remote Working Population

As per product type, the market is split into tables, chairs, dining sets, and others. Among these, the tables segment is expected to dominate the market due to rising prevalence of remote working conditions that boosted the demand for tables across households. Moreover, tables are portable, spacious, and compact and enable users to work from common spaces with ease this aiding segment expansion.

Wood Segment to Dominate Owing to Durability and Waterproof Nature

According to material type, the global market is divided into wood, metal, plastic, and others. Among these, the wood segment captured the largest outdoor furniture market share in 2022 backed its low maintenance requirements and high durability. Moreover, some wood varieties such as teakwood, cedar, mahogany, and acacia wood are waterproof and possess insect repellent properties making them the ideal choice for crafting essential furnishing items for outdoor use thus aiding segment growth.

Residential Segment to Hold Major Share Due to Growing Disposable Income

Based on end user, the market is bifurcated into residential and commercial. Among these, the residential segment led the market in 2022 owing to rising disposable income and surging demand for lawn and balcony fixtures for homes. Additionally, rising consumer focus on home renovation and modification will also contribute to segment expansion in the upcoming years.

Geographically, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

The report entails valuable insights into:

• Major growth drivers, restraining factors, opportunities, and potential challenges for the market
• Regional and segmental developments
• List of major industry players
• Key strategies adopted by the market players
• Recent industry developments including product launches, partnerships, mergers, and acquisitions

Drivers and Restraints:

Rising Number of Rooftop Restaurants and Hotels to Propel Market Proliferation

Rising urbanization and growing purchasing power of the population have increased expenditure on recreation activities such as dining in rooftop restaurants and bars. This, in turn, aided outdoor furniture market growth as product demand from hospitality sector increased. Moreover, the common areas in hotels and restaurants have ample spaces for seating and can be furnished to increase seating capacity. Growing investments in decorative furnishings for garden spaces have aided market proliferation.