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Outdoor Furniture Industry Statistics & Market Research-Sample

According to Goldstein Research, world outdoor furniture market is expected to reach more than USD 14.3 billion by 2024 from USD 9.1 billion in 2016, growing at a compounded annual growth rate of 5.6% over the forecast period 2016-2024. The trend of luxury housing, growing real estate sector and rising disposable income of people is driving the growth of world outdoor furniture market. Global outdoor furniture market segmentation has been carried out on the basis of product type, material type, end users, distribution channel and region.

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Outdoor Furniture Industry Statistics & Market Research-Sample

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  1. Global Outdoor Furniture Market Outlook Global Outdoor Furniture Market Outlook 2024: Opportunity & Growth Analysis, 2016-2024 Download Full Sample Report 99 Wall Street, Suite No:- 527, New York, NY 10005 United States of America Office No:- 504, 5th Floor, C-51, BSI Business Park, Sector-62, Noida, PIN:- 201301 India  Report Code :AM 1335 www.goldsteinresearch.com +1-646-568-7747 +1-437-886-1181 +44-203-318-6627 +91-120-473-0422, +91-991-071-6331 sales@goldsteinresearch.com Published By: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  2. Global Outdoor Furniture Market Outlook Global Outdoor Furniture Market Share(%), By Region-2016-2024 Global Outdoor Furniture Market Size USD (Billion). 2016-2024 XX% CAGR: (2016-2024) Download Full Sample Report Sample Source: Goldstein Research Source: Goldstein Research In 2016,Outdoor Seating accounted for the highest market share XX% in Global Outdoor Furniture Market WithXX%share in 2016, North America dominated the Global Outdoor Furniture Market Global Retail sales (%), By End Users -2016 Global Outdoor Furniture Market Share (%), By Material Type -2016 Global Outdoor Furniture Market Share(%), By Product Type-2016 Source: Goldstein Research Source: Goldstein Research Source: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  3. Global Outdoor Furniture Market Outlook • In 2016, overall outdoor furniture market was dominated by the residential market, which accounted for more than XX% of total outdoor furniture and accessories. Appealing designs and novel technologies to build outdoor furniture has also attracted the new consumer base, which is the key factor determining the sales of new outdoor furniture market. • The improved focus on high quality outdoor furniture has also heightened the selections and combinations of outdoor fabrics that homeowners and designers are using. Additionally, home size is an imperative indicator of which sets consumers are most probable to purchase. For instance, the size if the U.S residency has declined from 2,400 sq. ft. in 20118 to 2,200 sq. ft. in 2015. As a result, this influences the types of patio sets customers are buying. As living spaces become smaller, smaller sets with price labels in between USD 399 and USD 799 will continue to rise in popularity. • Fresh trends show that outdoor furniture market is fast-tracking owing to the factors such as demand for reprocessed plastic lumber popularity which is commonly known as Envirowood. Outdoor furniture market is also profited by the government funding to open more leisure and green spaces such as gardens, sports area among other where people can relax. For instance, around 58% of the total inhabitants in United Kingdom claim to make leisure visit every week. • Further, expanding expenditures over the purchase of luxury housing and real estate properties will also aid the progress of outside furniture market. Over the next five years demand of purchasing luxury housing properties is expected to reach 20% by the wealthy population across the globe. • Retail stores will continue to be the most lucrative sales channel for outdoor furniture, followed by direct to consumer channel. However direct to consumer channel will register a comparatively higher CAGR than retail stores in the market through 2022. Download Full Sample Report Leisure Lifestyle Sample E-commerce Growing Hospitality Sector Luxury Housing and Real Estate Properties Global Outdoor Furniture Market Size (USD Billion) North America Europe USD XX Billion 2016 USD XX Billion USD XX Billion 2024 USD XX Billion Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  4. Global Outdoor Furniture Market Size (USD Billion) & Growth Analysis Fig: 13: Global Outdoor Furniture Market Size (USD Billion)-2016-2024 Download Full Sample Report Sample Source: Goldstein Research • Global Outdoor Furniture Marketis anticipated to expand at a compound annual growth rate of XX% during the forecast period i.e. 2016-2024. The market is anticipated to reach USD XX billion by the end of 2024. The demand for modular and elegant furniture is growing in urban cities. The development in housing sector and rapid pace growth of metro cities is changing the living standards and lifestyle of the population. The rising tend of home décor and home furnishing with modular and stylish furniture is the major reason behind the flourishing growth of global outdoor furniture market. • Furniture industry is highly unorganized in high potential developing regions due to presence of large number of local wholesalers and furniture shops. The wide scale availability of raw material such as wood, mica and other accessories along with cheap labor force are the two major factors which are responsible for the un-organized segment of this industry. • Online space furniture store market is projected to expand at a CAGR of XX% during 2016-2024 when compared to offline with XX% CAGR during 2016-2024; online channel estimated to gain high jump in urban regions across the globe. Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  5. Growth Drivers Download Full Sample Report Recent News and Trends • Rapid Urbanization is Driving the Outdoor Furniture market • Growing urbanization across the globe and others is supporting the culture of housing societies. Moreover, the corporate sector globally is uplifting on the back of ease of doing business reforms introduced by the government • The pace in urbanization further boost the demand for modular and western style furniture in developing countries. The demand for durable and hybrid seating furniture is expected to drive the global outdoor furniture market • The technological advancements such as availability of high speed internet networks such as 4G and spiked absorption of smart gadgets such as smart phones and tables is boosting the e-retail sector globally. These advancements further provides ease to the customers to buy furniture through online channels • The rising trend of modular and state of the art furniture among the population living in urban cities is boosting the growth for furniture • Moreover, the rising growth of wood industry in Global further compensate the price of furniture. On the back of these factors the furniture industry is expected to propel in Global • The 100% FDI in retail sector further increasing the penetration of international players in the Indian market such as Ikea. The rising foreign direct investment in retail sector further enhances the furniture industry in India • World’s largest furniture retailer Ikea is investing USD XX Million in India as part of plans to have XX stores across the globe by 2025. These rapid investments in furniture industry further change the scenario of global furniture market • The rising trend of online and mobile shopping further boost the demand for furniture through online channels. Various furniture companies such as Pepperfry, Urban ladder and others are creating huge demand from these online channels • Online retailers utilize interest-based advertising to target internet users whose browsing behavior indicates they might be interested in certain categories of products Sample • Impact Analysis:- • Rapid urbanization and growing demand for modular and compact furniture is expected to heavily impact on the growth of furniture market in near future • With the housing market returning and buyers feeling more comfortable with the economy, it’s good news for the furniture industry; since the housing and real estate market are the largest drivers of industry demand. there has been a steady annual increase of about +4.5% in new furniture sales among global furniture manufacturers Fig: 5-3 Influence of Loyalty Programs in Selecting Furniture Retail Brands- by Different Generations (%) High Medium Low Impact on Global Outdoor Furniture Market Source: Primary Source Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  6. Market Restraints • Unorganized Industry in Majority of the Regions • It is a challenging task for the major players to generate the revenue and to maintain the growth of their share in furniture market across the globe. The major challenge for the key players is the presence of large number of unorganized players • The major part of this industry, approximately more than 80% is in the unorganized sector. The remaining part comprises of large manufacturers, such as, Godrej & Boyce Manufacturing Co. Ltd., BP Ergo, Featherlite, and others • The unorganized players sell their product through local shops which decreases the cost of distribution channel. Thus, they can easily sell their product at low cost by maintaining their margin cost as well • The presence of large number of local furniture manufacturers further hampers the growth of organized global furniture market. Further, the unorganized players in the furniture industry offers the same products as of organized players but at low prices. However, at some point the quality of the material is also compromised by unorganized players without the knowledge of the consumers. The population further incline towards the low cost furniture products Download Full Sample Report Global Market Rising Investments from various entities Rising orders through online portals Sample Fig: 17: Reason behind the growth in Global Furniture Market-2016-2024 • Impact Analysis:- • The presence of large number of unorganized players in the furniture industry is restraining the growth of global furniture market. • The rich and upper middle class is typically very attentive to design and quality, so price is rarely a determining factor. However, the middle class population is creating a huge demand for furniture on the back of price of the products • High cost of modular furniture is one the major reason behind the sluggish growth of furniture market in Global. On the other hand presence of counterfeit products at low cost by the unorganized players is limiting the growth of furniture industry Growing Real Estate Sector High Medium Low Source: Goldstein Research Impact on Global Outdoor Furniture Market Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  7. Global Outdoor Furniture Market Outlook : 2016-2024 • As living conditions continue to improve in China and other developing countries people are becoming more and more willing to invest in home decoration. Consumers’ increasing purchasing power has driven the furniture market to develop in leaps and bounds. In 2016, the total sales of furniture manufacturing enterprises grew XX% year on year to USD XX billion in APAC region, while total profits grew XX% year on year to USD XX billion. • Luxury/branded goods consumers: These consumers want furniture to reflect their taste and style. While making their purchase, they would also like to enjoy aesthetics and cultural elements. They are at the forefront of trends in aesthetics, lifestyle and price concepts. • An increasing number of consumers, in particular mid-to-high end consumers and children’s furniture consumers, choose to embrace new living concepts, such as the ‘eco home’. These consumers have a strong preference for environment-friendly furniture, such as odour- and formaldehyde-free products/ Fig: 17: Global Outdoor Furniture Market Share, By Product Type, 2016-2024 Download Full Sample Report 2024 2016 Sample Source: Goldstein Research Fig: 17: Global Outdoor Furniture Market Y-O-Y Growth, By Product Type, , 2016-2024 Fig: 17: Global Outdoor Furniture Market Size (USD Billion), By ProductType-2016-2024 Source: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  8. Global Outdoor Furniture Market Outlook : 2016-2024 • The global market for outdoor furniture is growing. Consumers increasingly use their garden as living space, a place for active and passive recreation. Therefore, outdoor furniture has to meet the same needs as indoor furniture. Sustainability and design are becoming increasingly important. Another trend is developing furniture for relatively small spaces like balconies. The Europe is an especially interesting focus region, with a strong market for developing countries. • Growing disposable and per‐capita income in the Middle East and Asian countries offers huge potential for outdoor furniture. High net worth individuals buy free‐hold residential properties in Middle East which has open/large gardens and private beach which requires extensive use of exclusive outdoor wooden furniture. • Further, the hotel F&B space continues to show growth, with overall consumer spending increasing XX percent in 2017 and showing a robust XX percent annual growth since 2011. Fig: 17: Global Outdoor Furniture Market Share, By Food Products, 2016-2024 Download Full Sample Report Sample Source: Goldstein Research Fig: 17: Global Outdoor Furniture Market Y-O-Y Growth, By Food Product Type, , 2016-2024 Source: Goldstein Research Fig: 17: Consumer Preferences To Shop For Furniture, By Different Demographics Source: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  9. Global Outdoor Furniture Market Attractiveness and BPS Analysis by Rental Type, 2016-2024 Fig: 17: Global Outdoor Furniture Market Attractiveness-By Product Type, 2016-2024 Download Full Sample Report CAGR (%) Market Size (USD Million) Tables Day Beds and Sun lounges Source: Goldstein Research Outdoor Seating Decorative and Leisure Furniture Sample Outdoor seating holds the largest revenue share in the global outdoor furniture market. Further, hospitality sector is likely to boost the sales of day beds and sun lunges over the forecast period. Demand in the outdoor furniture market has been extending from specialised sectors, such as star-grade hotels, restaurants, exclusive clubs, leisure venues and residential communities, to the home sector, including private gardens, rooftops and terraces. Development in the home sector is gathering momentum. Outdoor furniture is increasingly popular in the Chinese market. Available in an increasing variety, outdoor furniture mainly falls under the following categories: beach beds, rattan chairs, leisure chairs, bamboo chairs, and other outdoor furniture items. Among these, rattan chairs and leisure chairs account for a bigger share. Fig: 17: Global Outdoor Furniture Market BPS Analysis- By Type 2016-2024 Source: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  10. North America Outdoor Furniture Market Size (USD Billion) & Y-O-Y growth (%), By Region- 2016-2024 Download Full Sample Report North America Outdoor Furniture Market Size (USD Billion)-2016-2024 XX% CAGR: (2016-2024) Sample Source: Goldstein Research North America North America Outdoor Furniture Market Size (USD Billion), By Product Type-2016-2024 North America North America Outdoor Furniture Market Size (USD Billions), By Country-2016-2024 Source: Goldstein Research Source: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  11. United States Outdoor Furniture Market Size (USD Billion) & Y-O-Y growth (%), 2016-2024 Download Full Sample Report United States Outdoor Furniture Market Size (USD Billion), Compound Annual Growth Rate (%), Y-O-Y Growth Rate (%), 2016-2024 XX% Sample CAGR: (2016-2024) Source: Goldstein Research Key Insights Fig: 24: U.S Increase in No. of Furniture Retail Stores, 2012-2016 • According to Goldstein Research U.S households spent over nearly USD XX billion on the outdoor market (include furniture, shade products and grills) and about USD XX billion alone on outdoor furniture in 2016 and it is predicted that XX% more of U.S households plan to purchase an outdoor furniture in the coming year. • According to the U.S Census Bureau there were 83.1 million millennial in 2015 and tis demographic presents more than one quarter of the nation’s population making them the largest age demographic and potential consumers in the united States. Source: Goldstein Research According to Casual Living and Apartment Therapy survey, nearly XX% of all outdoor furniture sales comes from home improvement and discount department stores. The same survey also revealed that the vast majority of consumer who shop at these retail stores signified that price was the most important purchasing consideration, followed by quality/durability and style/design. It’s also important to note that 67% of sales in outdoor patio furniture occurs between the months of March and June. For most of the United States except Midwest region, the most popular month to buy is May Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  12. North America Outdoor Furniture Market Attractiveness-By Country, 2016-2024 North America Outdoor Furniture Market Attractiveness-By Country, 2016-2024 Download Full Sample Report CAGR (%) Market Size (USD Billion) Source: Goldstein Research Sample According to the above graph, U.S. outdoor furniture market is anticipated to be the most attractive market across all the countries in outdoor furniture market, for new entrants looking to enter in the market, existing players looking for business expansion and investors seeking investment opportunities over the forecast period i.e. 2016-2024 The United States has increased its furniture exports to the tune of achieving USD XX Billion USD in 2016. It also has increased its furniture imports by about XX% over the last year, mostly coming from China and Vietnam. The import figure translated to about USD XX billion in 2016, and with such numbers the US is considered the largest importer of furniture in the world today. Furthermore, some US furniture companies have gone a step even further by opening factories in Asia United States Canada North America North America Outdoor Furniture Market BPS Analysis- By Country, 2016-2024 Source: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  13. Global Outdoor Furniture Market Outlook IKEA (Company Overview & Business Strategy) Download Full Sample Report Founded 1943 Website www.ikea.com Employees 147,000 Headquarters Netherlands Company Overview • IKEA is a Swedish-founded Dutch-based multinational group, that designs and sells ready-to-assemble furniture, kitchen appliances and home accessories. • As of November 2017, IKEA owns and operates 415 stores in 49 countries. In fiscal year 2016, USD XX billion worth of goods were sold, a total that represented a XX percent increase over 2015.] The IKEA website contains about 12,000 products and is the closest representation of the entire IKEA range. There were over XX billion visitors to IKEA's websites in the year from September 2015 to August 2016. • More than half of the production i.e. XX% of the production is in Europe and the company has 315 IKEA Group stores in 27 countries across the globe • Most of IKEA's stores and factories were previously owned by INGKA, a holding company controlled by the Stichting INGKA Foundation, one of the 40 wealthiest foundations in the world Sample Business Strategy Offering the lowest prices: Cost effectiveness is one of the solid bases of IKEA competitive advantage. The global furniture retailer is able to offer low prices thanks to a combination of economies of scale and technological integration into various business processes. International market expansion strategy: The home improvement and furnishing chain has traditionally engaged in new market development in an aggressive manner. IKEA Group has 340 stores in 28 markets worldwide, 22 Pick-up and Order Points in 11 countries, 41 Shopping Centres in 15 countries and 38 Distribution sites in 18 countries. The company is planning to open stores in India and Serbia in medium term perspective. Increasing variety of products: Great range of products also belongs to the list of IKEA competitive advantages. There are 9500 products across in IKEA portfolio and the company renews its product range annually launching approximately 2,500 new products. The company is also increasing its presence in food and catering industries. Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  14. Global Outdoor Furniture Market Outlook Download Full Sample Report Thank you Connect With Us: Published By: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

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