With the emergence and long-term Impact of COVID-19, the Global Outdoor Furniture and Accessories Market is to reach USD XX Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Outdoor Furniture and Accessories Market is poised to raise up to USD XX Billion by 2030. Outdoor furniture and accessories are items designed specifically for use in outdoor environments, such as gardens, patios, decks, terraces, or any other outdoor living spaces. These items are created to withstand the various environmental factors, including sunlight, rain, wind, and temperature fluctuations, which can be harsh on traditional indoor furniture and decor. Outdoor furniture and accessories can include items such as umbrellas, canopies, cushions, pillows, outdoor rugs, planters, lighting fixtures, grills, fire pits, and outdoor storage solutions. These accessories complement the furniture and add style, convenience, and functionality to outdoor spaces.
The Outdoor furniture and accessories market is growing because of the increasing focus on outdoor living and the rising disposable income. Also, the rise in inclination towards the adoption of outdoor furniture is directly fueled by the rise in disposable income, which , in turn, propels the market demand around the world. As per the National Association of Home Building, the trend of connecting with the outdoors is on the rise. Their survey indicates that 58% of respondents are increasingly inclined to embrace outdoor living in the coming years. According to Statista, in 2021, the United States led the way among OECD countries in terms of gross household disposable income per capita, even when adjusted for purchasing power parity.
The per capita disposable income in the United States stood at nearly USD 55,000, securing the top position. Luxembourg followed closely in second place with an approximate figure of USD 50,000, while Switzerland took the third position in this ranking. Moreover, product innovation and differentiation, sustainable and eco-friendly products can create more opportunities in the market However, challenges related to weather resistance and durability, coupled with fierce competition in a market highly sensitive to product pricing, present obstacles that may hinder market growth during the forecast period from 2023 to 2030.
The key regions considered for the Global Outdoor Furniture and Accessories Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa primarily driven by a surge in construction projects and the robust growth of the real estate industry. These factors have significantly fueled the market’s expansion. In contrast, the Asia Pacific outdoor furniture market is poised to exhibit the most rapid Compound Annual Growth Rate (CAGR) of over XX% throughout the projected period.
The Asia Pacific region offers an extensive array of upholstery items, complemented by an increasing availability of both domestic and international furnishing brands. Notably, international tourism has been gaining substantial traction in countries such as China, Malaysia, South Korea, Singapore, and India. This upsurge in tourist activity has led to a marked uptick in outdoor furniture sales within the region, thus contributing to the expansion of the commercial segment’s market share.
The global Outdoor Furniture and Accessories Market is highly competitive owing to the presence of several key manufacturers such as Century Furniture LLC, Inter IKEA Systems B.V., Forever Patio, Brown Jordan International Inc., Berkshire Hathaway Inc, and others.
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Key findings of the study suggest:
- Global Outdoor Furniture and Accessories Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the application segment, commercial emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to surge in construction projects and the robust growth of the real estate industry.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Type:
- Metal
- Plastic
- Wood
- Textile
- Others
By Application:
- Residential
- Commercial
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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