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Outdoor furniture market to procure massive returns from commercial sector, global industry valuation to cross $ 23 billion by 2024

Author : Rahul Varpe | Published Date : 2019-03-15 

Outdoor furniture market growth from the commercial sector is projected to experience an upward trend in the coming years owing to burgeoning purchase by hospitality companies, business hubs, sports complexes, and municipal gardens. Commercial properties with gardens, pools, outdoor sitting spaces, open-air restaurants, and beaches are the vital revenue pockets of this market.

Rising consumer spending on travel and tourism activities has given rise to growth opportunities for the hospitality and recreation industry, which has, in turn, benefitted the outdoor furniture demand from the commercial segment. Hotel consumers have started to impart importance to the ambience, as a result of which the number of sea-side restaurants, pool-side cafes, and terrace restaurants has increased multifold, consequently bolstering the growth of the outdoor furniture market from commercial applications.

The global outdoor furniture market has experienced a noteworthy upsurge in the last few years, chiefly influenced by an improvement in the standards of living. The industry trends have also undergone a change of dynamics on account of the availability of countless furnishing options and burgeoning expenditure on exterior decor, especially by urban population. With the surging popularity of outdoor living spaces, the concept of outdoor housing has ascended as a prominent trend. Without a doubt, the outdoor homing trend has increased sales of outdoor furniture, especially patio furniture ranges. For example, nowadays spacious lounges and wide armchairs are a common choice for large patio furniture landscapes amid comfort-seekers.

Another factor that is driving the commercialization fasciae of the market is the existence of multifarious furniture options in terms of designs and styles, which allows homeowners as well as interior decorators to impeccably give the desired appearance to the property. Even government-led initiatives to promote better usage of open spaces and high investments to adorn public spaces, parks, gardens, sports arenas, and other areas will further escalate outdoor furniture market demand. For instance, the Naples City Council has recently awarded a $10.6 Mn contract to Manhattan Construction to develop the long-awaited 15-acre park on the Gordon River, decked with features such as a planted hill, band stage, splendid seating, and a single-story flagship building.

Outdoor furnishing in residential areas is aimed at creating a finely integrated, soothing, and cohesive space that not just looks astonishing but also functions excellently and augments the pleasure one gets out of the outdoor living area. Apparently, the residential segment emerged dominant in outdoor furniture market in 2017, with a share of 60%.

To access a sample copy or view the outdoor furniture market report in detail along with the table of contents, please click the link below: https://www.gminsights.com/request-sample/detail/3025

Developed nations in North America and Europe are set to offer significant profit generation opportunities to global manufacturers owing to increasing per capita income, shifting lifestyle patterns, and the rising trend of organizing family get-together & dinners in home gardens. In addition to this, the growth in geriatric population will trigger demand for comfort-enhancing outdoor furniture products such as recliners, loungers, adjustable seats, and day beds. In general, there has been a surge in the willingness to spend on luxurious furniture items among homeowners which is adding impetus to the outdoor furniture market growth from residential applications.

Danube Home, a leading home decoration company based in the Middle East, has recently introduced its exclusive Garden Collection 2019 during a launch ceremony in Salmabad, Bahrain. As a part of the garden range launch, a new 2018/19 catalogue was announced which features over 1,500 items, offering an all-inclusive guide for outdoor furniture, décor accessories, and lifestyle elements. The newest collection also encompasses a wide range of bold and vivacious products such as an all in one gazebo, furniture with lighting, convertible benches, an Arabic majlis, sofa with utility function (added table), wall fountain, modular collection, outdoor kitchen with BBQ, and much more.

In view of the abovementioned factors, it is clearly visible that the global outdoor furniture market will emerge as the strong revenue pocket for the overall furniture industry. The growing inclination towards visually appealing as well as comforting landscape designs will spur the demand for outdoor furniture, thereby augmenting the industry trends in the years ahead.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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