Outdoor Furniture - Worldwide

Worldwide

In 2024, the revenue in the Outdoor Furniture market worldwide amounts to US$52.10bn.
It is projected that the market will experience an annual growth rate of 3.60% (CAGR 2024-2029).
When compared to other countries around in the world, in the United States generates the highest revenue of US$18,450m in 2024.
Taking into account the total population, the per person revenue generated in 2024 is US$6.72.
Despite its unpredictable weather, the United Kingdom has seen a surge in demand for outdoor furniture as people embrace the trend of creating cozy outdoor spaces.

Key regions: United States, Worldwide, Germany, India, Denmark

Market

Region

Region comparison

Currency

Analyst Opinion

The outdoor furniture market is poised for growth in the coming years, driven by several key factors. Firstly, the trend towards outdoor living is here to stay, as consumers increasingly seek to create comfortable and functional outdoor spaces. This trend is particularly strong among millennials, who are more likely to view their outdoor spaces as extensions of their homes and invest in outdoor furniture accordingly.

In addition, the growing popularity of outdoor activities such as dining and entertaining has led to increased demand for durable, stylish outdoor furniture that can withstand the elements. This has resulted in a shift towards materials like aluminum, wicker, and teak, which are weather-resistant and require minimal upkeep.

Rising disposable incomes has also been an important factor we consider as it has enabled consumers to invest in higher quality outdoor furniture that will last for years to come. This has led to increased sales of premium outdoor furniture products, as consumers seek to create outdoor spaces that are both functional and luxurious.

Overall, the outlook for the outdoor furniture market is positive, as consumers continue to prioritize their outdoor spaces and invest in high-quality outdoor furniture products. The market is expected to see sustained growth in the coming years, driven by these key factors.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.