Apr 03, 2020 (AmericaNewsHour) -- According to a recently released Research Nester report "The outdoor furniture market has been segmented by distribution channels into supermarkets, E-commerce and others. Among these segments, the e-commerce segment is anticipated to grow at a significant rate over the forecast period. This can be attributed to consumer's ease to buy furniture without any hassle of travelling and carrying the furniture. Additionally, supermarkets and retail stores are anticipated to garner major share in terms of revenue in outdoor furniture market by the end of 2024.
The global market for outdoor furniture is expected to grow at a robust growth over the period 2017-2024. Rapid pace of urbanization and increase in consumer purchasing power are expected to garner the growth of global outdoor furniture market. Factors such as the number of businesses operating domestically and weather resistant properties are estimated to boom the market by noteworthy revenue by the end of forecast period.
In the regional segment, North America represented the largest market in the year 2016 and anticipated to continue its dominance in upcoming years. The Unites States holds the maximum share in the outdoor furniture market in North America followed by Canada. Rising concept of extravagant outdoor living spaces with new materials, comfortable seating and elegant lighting has uplifted the market for outdoor furniture. Europe is expected to observe a moderate growth in the near future owing to high market saturation. Further, Asia-Pacific region is expected to showcase a robust growth over the forecast period.
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The concept of outdoor living has led to an increase in the demand for multi-functional and flexible outdoor furniture. Additionally, rising urbanization and growth in the real estate industry is influencing the growth of outdoor furniture market. Further, rising purchases by the growing hospitality industry, open-air sports area, public garden and office spaces are the factors that are anticipated to benefit the expansion of global outdoor furniture market.
However, high cost of material acts as a barrier for the growth of global outdoor furniture market and is likely to hamper the growth of the market in near future.
The report titled "Outdoor Furniture Market: Global Demand Analysis & Opportunity Outlook 2024" delivers detailed overview of the outdoor furniture market in terms of market segmentation by product, end users, by distribution channels and by region.
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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.
This report also provides the existing competitive scenario of some of the key players of the 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 outdoor furniture marketthat 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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