The global outdoor furniture market size is expected to reach
USD 25.0 billion by 2025, according to a new report by Grand view research,
Inc., expanding at a CAGR of 5.9% over the forecast period. Surge in the number
of hotels and resorts, increasing consumer spending power, and growing trend of
traveling are some of the key factors responsible for the growth of the
industry.
The commercial sector is anticipated to
register a CAGR of 6.2% in the forecast period. Developing countries like
Malaysia, Thailand, and Singapore have been the favourite destinations for
traveling. Increase in the number of hotels and resorts in these countries has
led to a surge in the product demand. In 2016, Thailand witnessed over 32.6
million international visitors.
On the basis of material type, wood dominated
the market in 2018 with more than 60% share and is anticipated to witness
significant growth in the forecast period. Easy availability, natural and rich
look, durability, and comfort are some of the key factors driving the demand
for wooden furniture among consumers.
Plastic accounted for more than 20.0% share of
the overall revenue in 2018. The consumer groups with an economic budget prefer
plastic furniture due to low maintenance, light weight, and low cost. However,
manufacturers are shifting towards eco-friendly materials and thus, impacting
the growth of the plastic segment as a material type.
Asia Pacific is a prominent regional market
due to growing commercial sector and increasing adoption of western culture.
The region is expected to expand at a CAGR of 6.3% in the forecast period.
Europe is the fastest growing regional market, progressing at a CAGR of 8.4% in
the forecast period.
For full research report on Outdoor
Furniture Market visit here: https://www.grandviewresearch.com/industry-analysis/outdoor-furniture-market
Further key
findings from the study suggest:
- In terms of revenue,wood as a material type is
projected to expand at a CAGR of 6.0% over the forecast period
- Based on the end use, the residential segment
dominates the market owing to growing population, increasing per capita
income, and changing lifestyle
- The commercial segment is the fastest growing
segment, expanding at a CAGR of 6.2% in the forecast period. Growing
tourism has led to an increase in the number of hotels and resorts, thus
positively influencing the segment growth.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/outdoor-furniture-market/request/rs1
Grand
View Research has segmented the global outdoor furniture market on the basis of
material type, end use, and region:
Outdoor Furniture
Material Type Outlook (Revenue, USD Billion, 2015 - 2025)
- Wood
- Plastic
- Metal
Outdoor
Furniture End-use Outlook (Revenue, USD Billion, 2015 - 2025)
- Commercial
- Residential
Outdoor
Furniture Regional Outlook (Revenue, USD Billion, 2015 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- MEA
- UAE
- CSA
- Brazil
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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