Selbyville, Delaware, United States, November 10 2020 (Wiredrelease) Global Market Insights, Inc :Outdoor Furniture Market size is forecast to exceed USD 20.6 billion by 2026; according to a new research report by Global Market Insights, Inc. The ongoing expansion of the global commercial sector is expected to drive the global outdoor furniture market growth over the forthcoming timeframe. Commercial establishments such as hospitality, offices, and educational institutes are creating an immense demand for outdoor furniture products, majorly in developing nations.

In fact, the rapid expansion of the tourism sector is increasingly providing significant scope for the development of furniture, particularly across establishments such as restaurants, motels, and hotels, further augmenting business growth. In fact, according to the WTTC (World Trade and Tourism Council) records, in 2018, the tourism industry experienced 3.9% growth, which was more than the 3.2% global GDP growth in 2018. The tourism sector contributed a momentous $8.8 trillion revenue to the global economy, generating approximately 10.4% of the overall global economic activity during 2018.

While the several lockdowns across the globe, brought on by the spread of the coronavirus, have dampened the momentum of the tourism sector, the industry is expected to recover greatly as the situation comes under control. The numerous advancements towards the development of vaccines is further generating strong outlook towards the global tourism sector.

According to Global Market Insights Inc. the outdoor furniture marketis likely to exceed a valuation of $20.6 billion by 2026.

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Mentioned below are three major trends influencing the global outdoor furniture market:

Increasing consumer inclination towards plastic furniture

With regards to material, plastic furniture is currently witnessing increasing demand among consumers owing to the number of advantages they offer, including lightweight, high durability, easy maintenance, and economic pricing. Plastic furniture is produced using polypropylene that has two copolymers, one for impact while the other for rigidity. It also incorporates approximately 15% filler to offer enhanced rigidity and affordable prices. Considering these factors, the plastic material segment is expected to grow at a healthy CAGR of more than 4% through the forecast timeframe.

Growing adoption of daybeds and loungers

In terms of product, the increasing adoption of daybeds and loungers in numerous commercial application avenues such as office lounges, bars, hotels, swimming pools, restaurants, and resorts, is projected to propel the segment size through 2026. These products provide better comfort to customers and have superior styling and customization capabilities, which is positively impelling their demand across commercial establishments. In fact, in 2019, this segment held a significant industry share of over 7.5% with estimates projecting it to observe more growth over the coming years.

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Rising demand for multifunctional furniture across the Asia Pacific

Changing lifestyles, rapid urbanization, growing disposable income, and gradually improving economic conditions across APAC nations such as India, China, and South Korea is anticipated to majorly propel the Asia Pacific outdoor furniture market share. Additionally, the rising influence of western culture and trends along with the growing customer inclination towards multifunctional furniture would further impel the product demand across the region. The Asia Pacific outdoor furniture industry is likely to grow at a healthy rate of over 5.5% in terms of volume share over the forthcoming timeframe.

Key market players are focusing on acquisitions to quickly expand their product portfolios and improve margins in terms of revenue growth. Citing an instance, in January 2020, Twin Star Home, a renowned residential furnishings manufacturer, reportedly acquired TK Classics, a US-based manufacturer and designer of outdoor furniture like bars, dining tables, accessories, and upholstered seating to significantly grow its market position and expand its product portfolio for outdoor living.

The competitive landscape of the outdoor furniture market is inclusive of players like Fischer Mobel GmbH, Agio International Company Limited, Gloster, Treasure Garden Incorporated, Kettal, Homecrest Outdoor Living, Brown Jordan, Ashley Furniture Industries, Inter IKEA Group, Century Furniture among others.

Table of contents for this research [email protected]

Report Content

Chapter 1. Methodology Scope

1.1. Research methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Definitions

1.1.5. Assumptions, scope forecast parameters

1.1.6. Base estimation working North America Europe Asia Pacific Latin America Middle East Africa

1.2. Forecast calculation

1.2.1. COVID-19 impact calculations on industry forecast

1.3. Data sources

1.3.1. Primary

1.3.2. Secondary

Chapter 2. Executive Summary

2.1. Outdoor furniture industry 360 synopsis, 2016 2026

2.1.1. Business trends

2.1.2. Material trends

2.1.3. Product trends

2.1.4. End use trends

2.1.5. Regional trends

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 Covid-19 impact on raw material supply Raw material suppliers by region North America Europe Asia Pacific Latin America MEA

3.3.3. Importers

3.3.4. Distributors

3.3.5. Manufacturers Challenges faced by furniture manufacturers

3.3.6. Wholesalers

3.3.7. Furniture Assemblers

3.3.8. Distribution channel analysis B2B B2C E-commerce 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 U.S.

3.6.2. Europe

3.6.3. Asia Pacific China

3.6.4. Latin America Mexico Brazil

3.6.5. MEA South Africa

3.7. Manufacturing base, by region (Manufacturer)

3.8. Trade Statistics

3.8.1. Courtyard Creations Inc Export statistics List of importing customers

3.8.2. Fred Meyer Inc Import statistics List of exporting companies

3.8.3. Ups SCS China Limited Ningbo Export statistics List of importing customers

3.8.4. Costco wholesale Corp Import statistics in USA List of exporting companies

3.8.5. UPS SCS China Limited Shenzhen Export statistics List of importing customers

3.8.6. Agio-International-Co-Ltd Export statistics List of importing customers

3.8.7. Nebraska Furniture Mart Inc Import statistics in USA List of exporting companies

3.8.8. At Home Procurement Inc Import statistics in USA List of exporting companies

3.8.9. Overall furniture market trade statistics Major importing countries 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 Raw material supplier Importer Manufacturer Wholesaler Distributor E-Commerce End-User

3.10.3. Industry participants, by country Key manufacturers Key wholesalers Key distributors 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 Unmet needs Social Cultural impact forces Information search Evaluation of alternative Purchase decision Post purchase evaluation

3.11.7. Europe Unmet needs Social Cultural impact forces Information search Evaluation of alternative Purchase decision Post purchase evaluation

3.11.8. Asia Pacific Unmet needs Social Cultural impact forces Information search Evaluation of alternative Purchase decision Post purchase evaluation

3.11.9. Latin America Unmet needs Social Cultural impact forces Information search Evaluation of alternative Purchase decision Post purchase evaluation

3.11.10. Middle East Africa Unmet needs Social Cultural impact forces Information search Evaluation of alternative Purchase decision 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 Rapid expansion of product portfolio distribution network Socialization accompanied by increasing consumer spending on leisure experiences Increasing tourism industry across the world

3.14.2. Industry pitfalls challenges 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. Porters analysis

3.20. PESTLE analysis

3.21. Covid-19 impact on end use

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