The Latest Outdoor Furniture Industry Statistics Explained
As of 2021, the global outdoor furniture market size is estimated to be around USD 17.63 billion.
The statistic indicates that as of 2021, the global outdoor furniture market is estimated to have a total value of approximately USD 17.63 billion. This figure represents the overall financial worth of the outdoor furniture industry on a global scale, encompassing sales and revenue from various outdoor furniture products such as patio sets, outdoor seating, tables, and accessories. The size of the market reflects the demand for outdoor furniture among consumers worldwide, driven by factors like increasing popularity of outdoor living spaces, growing focus on home decor and aesthetics, and a rise in outdoor recreational activities. The market value serves as a key metric for stakeholders in the outdoor furniture industry, including manufacturers, retailers, investors, and policymakers, to assess market trends, make informed decisions, and identify opportunities for growth and expansion.
The Compound Annual Growth Rate (CAGR) of the outdoor furniture industry is projected to be around 6.4% between 2021 and 2028.
The Compound Annual Growth Rate (CAGR) of the outdoor furniture industry projected to be around 6.4% between 2021 and 2028 implies that the industry is expected to experience steady and consistent growth over this period. This statistic indicates that the industry’s value is anticipated to increase by an average of 6.4% per year during this timeframe. The CAGR metric is utilized to provide a more accurate representation of growth rates, accounting for compounding effects over multiple years. A CAGR of 6.4% suggests that the outdoor furniture industry is poised for healthy expansion, potentially driven by factors such as increasing consumer demand, expanding markets, or technological advancements within the industry.
The residential application segment dominated the market with a share of over 60% in 2020.
In 2020, the residential application segment held the largest market share, accounting for over 60% of the total market. This statistic suggests that the majority of applications within the market, likely related to services or products designed for use in residential settings, were attributed to this segment. The dominance of the residential application segment signifies the significant demand and consumption of products or services by individuals or households for personal use within the market. This high share indicates a strong presence and influence of residential applications in the market landscape, highlighting the importance of catering to the needs and preferences of residential consumers in driving overall market growth and strategy formulation.
Wood material is anticipated to register the fastest CAGR of 6.6% from 2021 to 2028 in the outdoor furniture industry.
This statistic indicates that the wood material segment within the outdoor furniture industry is expected to experience significant growth over the period from 2021 to 2028, with a compound annual growth rate (CAGR) of 6.6%. This suggests that consumers are increasingly interested in outdoor furniture made from wood, likely due to its aesthetic appeal, durability, and environmental sustainability. The projected rapid growth in this segment reflects a positive market trend towards natural materials and a preference for high-quality, long-lasting outdoor furniture options. Businesses operating in the outdoor furniture industry should take note of this anticipated growth in the wood material category and consider investing in or expanding their offerings in this segment to capitalize on the expected increase in demand.
The market in the Asia Pacific is projected to witness the fastest growth over the projected period.
The statement indicates that the market in the Asia Pacific region is expected to experience the highest rate of growth compared to other regions within the specified time frame. This suggests that the demand for goods and services in the Asia Pacific market is anticipated to increase at a faster pace than in other markets. Factors driving this growth could include a combination of economic development, changing consumer preferences, investment trends, government policies, and technological advancements specific to the region. This projection highlights opportunities for businesses operating or looking to expand in the Asia Pacific market to capitalize on this growth potential and tailor their strategies to leverage these market dynamics effectively.
The estimated value of the garden products market, including outdoor furniture, in the United Kingdom (UK) in 2019 was roughly £5.7 billion.
The statistic regarding the estimated value of the garden products market, including outdoor furniture, in the United Kingdom (UK) in 2019 at roughly £5.7 billion represents the total monetary worth of all goods and services related to gardening activities and outdoor furniture sales within the UK during that year. This figure encompasses a wide range of products such as gardening tools, plants, landscaping supplies, outdoor decorations, and furniture designed for outdoor use. The estimate of £5.7 billion reflects the combined consumer spending in this market segment, indicating the scale and economic significance of the gardening and outdoor furniture industry within the UK economy for that specific year.
The average expenditure per consumer unit in the U.S. on outdoor furniture was $181 in 2019.
The statistic that the average expenditure per consumer unit in the U.S. on outdoor furniture was $181 in 2019 means that, on average, each consumer in the U.S. spent $181 on outdoor furniture during that year. This statistic provides a snapshot of the average level of spending on outdoor furniture across all consumer units in the U.S., which includes households and individuals who make purchases in this category. It suggests that outdoor furniture is a common expenditure for many households and individuals, with the $181 figure providing a benchmark for understanding the typical amount that consumers allocated towards this category in 2019. This statistic can be useful for businesses in the outdoor furniture industry, policymakers, and researchers looking to understand consumer behavior and spending patterns related to outdoor furniture.
The e-commerce segment is expected to register the fastest CAGR of 11.4% from 2021 to 2028.
This statistic indicates that the e-commerce industry is projected to experience significant growth in terms of revenue between the years 2021 and 2028. The Compound Annual Growth Rate (CAGR) of 11.4% suggests that the e-commerce segment is expected to expand rapidly during this period. This growth rate is higher compared to other segments, implying that e-commerce is poised to outperform other industries in terms of growth. Factors driving this growth may include increasing internet penetration, growing consumer preference for online shopping, advancements in technology, and changes in consumer behavior. Overall, the projection of a fast CAGR of 11.4% for the e-commerce segment indicates a promising outlook for the industry over the next several years.
The North American market was valued at USD 5.71 billion in 2020.
The statistic “The North American market was valued at USD 5.71 billion in 2020” indicates the total monetary worth of goods and services exchanged within the North American market during the year 2020. This value represents the combined value of all economic transactions, including the buying and selling of products and services among businesses and consumers in North America. The figure of USD 5.71 billion provides valuable insight into the size and economic activity of the North American market in 2020, serving as a key indicator for assessing the region’s economic health, growth potential, and overall market trends during that period.
The Europe outdoor furniture market size is projected to reach USD 5.2 billion by 2024.
The statistic indicates that the Europe outdoor furniture market is expected to expand significantly in the near future, with a projected market size of USD 5.2 billion by 2024. This suggests a growing demand for outdoor furniture products in European markets, likely driven by factors such as increasing disposable income, changing consumer lifestyles, and a growing trend towards outdoor living spaces and home decor. The projected market size serves as a key indicator of the potential growth and opportunities within the outdoor furniture industry in Europe, highlighting a promising outlook for businesses operating in this sector.
About 54% of millennials and 46% of baby boomers are willing to pay more for an outdoor living area.
The statistic provided indicates a noticeable generational difference in willingness to pay more for an outdoor living area, with 54% of millennials and 46% of baby boomers expressing a willingness to invest additional funds in such a space. This suggests that a higher proportion of millennials value outdoor living areas and are willing to prioritize spending on them compared to baby boomers. The data underscores the importance of considering generational preferences and priorities when designing or marketing outdoor living spaces in real estate or related industries, as catering to the preferences of each demographic group can potentially impact the success and marketability of properties targeted towards these age groups.
Dining sets accounted for 44.6% of global outdoor furniture revenue in 2018.
The statistic “Dining sets accounted for 44.6% of global outdoor furniture revenue in 2018” indicates that nearly half of the revenue generated from outdoor furniture sales around the world in 2018 was attributed to dining sets specifically. This suggests that dining sets are a significant category within the outdoor furniture market, likely driven by consumer demand for stylish and functional outdoor dining solutions. The high percentage of revenue from dining sets also implies that they are a popular choice among consumers, highlighting the importance of this product category for manufacturers and retailers operating in the global outdoor furniture industry.
The plastic outdoor furniture retail sales were valued at approximately 920 million U.S. dollars in 2018.
The statistic states that the total sales value of plastic outdoor furniture in the retail sector amounted to around 920 million U.S. dollars in 2018. This figure indicates the monetary worth of all sales transactions involving plastic outdoor furniture for that year. Retail sales values serve as a measure of market demand and consumer spending on such products within a specific time frame and geographical area. The 920 million U.S. dollars represents the economic significance of the plastic outdoor furniture industry in 2018 and can be used to analyze trends, forecast future market behavior, and inform business decision-making within the sector.
The North America market is expected to expand at a CAGR of 3.9% from 2021 to 2028.
The statistic indicates that the North America market is projected to experience a Compound Annual Growth Rate (CAGR) of 3.9% from 2021 to 2028. This implies that the market size in North America is anticipated to increase steadily at an average annual rate of 3.9% over the specified time period. The CAGR provides a measure of the growth rate that smoothens out fluctuations and helps in understanding the long-term growth trajectory of the market. This forecast suggests that the North America market is expected to show consistent growth over the next seven years, which can be valuable information for stakeholders, investors, and businesses operating within this market to inform their strategic decision-making and planning processes.
The North America outdoor furniture market size crossed USD 5.5 Billion in 2018.
The statistic indicates that the North America outdoor furniture market had a total value of over USD 5.5 billion in the year 2018. This figure reflects the total revenue generated by outdoor furniture sales in the North American region during that particular year. The market size serves as a key indicator of the industry’s growth and economic importance, providing insights into consumer demand, industry competition, and overall market trends within the outdoor furniture sector. This data point can be used by businesses, investors, and analysts to assess market opportunities, track performance, and make informed decisions related to outdoor furniture market investments and strategies in North America.
In 2019, the Australia outdoor furniture market size was valued at USD 595.2 million.
The statistic states that in 2019, the outdoor furniture market in Australia had a total estimated value of USD 595.2 million. This figure represents the total revenue generated from the sale of outdoor furniture products in Australia during that year. The market size is a crucial indicator of the overall economic activity within the outdoor furniture industry in Australia. It reflects the demand for outdoor furniture products, the competitiveness among manufacturers and retailers, as well as the consumer preferences and trends in the market. This statistic is significant for market analysts, businesses, and policymakers to understand the size and dynamics of the outdoor furniture market in Australia and to make informed decisions regarding investments, marketing strategies, and regulations within the industry.
The market for metal outdoor furniture in the US was valued at 1.53 billion U.S. dollars in 2018.
This statistic indicates that the total value of the market for metal outdoor furniture in the US reached 1.53 billion U.S. dollars in the year 2018. This suggests a significant market size for metal outdoor furniture products in the US, reflecting the demand and consumption of such products by consumers during that year. The value of 1.53 billion U.S. dollars serves as a benchmark for understanding the economic significance and scale of the metal outdoor furniture industry in the US, providing insights into the market’s size, potential growth, and overall contribution to the economy.
Furniture and home furnishings store sales in the United States amounted to about 114.6 billion U.S. dollars in 2019.
The statistic indicates that the total sales revenue generated by furniture and home furnishings stores in the United States in 2019 was approximately $114.6 billion. This figure reflects the significant economic activity within the industry, highlighting the substantial consumer demand for furniture and home decor products during that year. The value demonstrates the financial scale and importance of the furniture and home furnishings sector in the U.S. economy, reflecting the purchasing habits and preferences of American consumers for such products. Additionally, the statistic serves as a key indicator for market analysts, policymakers, and industry stakeholders to assess the performance and trends within the furniture retail industry.
The Latin America outdoor furniture market size is estimated to cross USD 450 Million by 2026.
This statistic indicates that the market size for outdoor furniture in Latin America is projected to exceed $450 million by the year 2026. This estimation suggests a significant growth in the market over the coming years, reflecting increasing consumer demand and industry expansion. Factors contributing to this growth could include rising incomes, urbanization, lifestyle changes, and a growing interest in outdoor living spaces. The forecasted figure serves as a valuable insight for businesses and stakeholders looking to invest or participate in the outdoor furniture market in Latin America, highlighting opportunities for market expansion and potential profitability.
The outdoor furniture segment is expected to show an annual growth rate (CAGR 2021-2025) of 4.02%.
This statistic indicates that the outdoor furniture segment is projected to experience a compound annual growth rate (CAGR) of 4.02% over the period of 2021 to 2025. This means that the market for outdoor furniture is expected to expand at an average annual rate of 4.02% during this time frame. A CAGR is a useful metric for understanding the steady rate of growth in a particular market or industry over multiple years, providing insights into the overall trend and potential opportunities for businesses operating within the outdoor furniture sector. The forecasted growth rate suggests that there may be increasing demand for outdoor furniture products in the coming years, potentially driven by factors such as changing consumer preferences, lifestyle trends, and outdoor living spaces becoming more popular.
References
0. – https://www.www.statista.com
1. – https://www.www.furniturelightingdecor.com
2. – https://www.www.grandviewresearch.com
3. – https://www.www.architectureanddesign.com.au
4. – https://www.www.globenewswire.com
