Outdoor furniture Market Is Projected To Post A significant CAGR Of Over The Forecast Period
“Outdoor Furniture Market: Global Demand Analysis & Opportunity Outlook 2024”
The global outdoor furniture market is segmented into product such as plastic outdoor furniture, metal outdoor furniture, wood outdoor furniture and others. Among these segments, wood outdoor furniture segment is expected to occupy top position in overall outdoor furniture market during the forecast period. Increasing utilization of wooden outdoor furniture in hotel & resorts & restaurants & cafes is anticipated to intensify the growth of this segment. Further, increasing demand for outdoor rooms & outdoor spaces for dining, entertainment & recreating activities is expected to positively impact the growth of the outdoor furniture market during the forecast period.
Global outdoor furniture market is expected to flourish at a significant CAGR during the forecast period. Positive growth of hospitality and real estate industry is anticipated to fuel the demand for outdoor furniture during the forecast period. Additionally, technological developments in materials are expected to intensify the growth of the outdoor furniture market. Further, the global outdoor furniture market is expected to garner noteworthy revenue by the end of 2024.
North America grabbed the highest percentage of market share in overall outdoor furniture market in 2016. Further, North America is expected to continue its dominance over the forecast period. Changing lifestyle coupled with increasing demand for aesthetic design and light weight outdoor furniture are anticipated to accelerate the growth of the outdoor furniture market in North America. Asia Pacific is poised to witness lucrative growth rate over the forecast period. Increasing disposable income of the population coupled with growing preference for outdoor décor are anticipated to impetus the growth of outdoor furniture market in Asia Pacific.
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Increasing Disposable Income
Rising disposable income and changing lifestyle of the population are two dynamic factors which are believed to impel the growth of the outdoor furniture market during the forecast period. Moreover, increasing number of affluent middle class population in the developing nations is anticipated to supplement the growth of the outdoor furniture market during the forecast period.
Positive Outlook of Construction Industry
Rise in the construction activities across the globe is predicted to trigger the growth of the outdoor furniture market in the years ahead. Further, evolving trend of adoption of ultramodern and sophisticated furniture is believed to foster the growth of the outdoor furniture market.
However, high cost of chic furniture’s and raw materials might dampen the growth of outdoor furniture market during the forecast period.
The report titled “Outdoor Furniture Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global outdoor furniture market in terms of market segmentation by product, by end users, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global outdoor furniture market which includes company profiling of Brown Jordan, Century Furniture, Forever Patio, Home Depot, Dedon, Gloster Furniture GmbH, Barbeques Galore, Agio International, Winston Furniture and Homecrest Outdoor Living. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global outdoor furniture market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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