According to our latest market study on “Outdoor Furniture Market Forecast to 2027 – COVID-19 Impact and Analysis by Material (Metal, Plastic, Wood, and Others), Product (Chairs, Tables, Seating Sets, Loungers and Daybeds, and Dining Sets), End User (Residential and Commercial), and Geography”. The global outdoor furniture market was valued at US$ 17,843.7 million in 2018 and is projected to reach US$ 26,598.5 million by 2027; it is expected to grow at a CAGR of 4.5% from 2019 to 2027.
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The household and commercial markets are quite popular for outdoor furniture such as chairs, tables, seating sets, dining sets, hammocks, and daybeds. In recent years, the global market for outdoor furniture has experienced rapid expansion. The number of tourists worldwide is increasing as a result of factors including increased consumer expenditure and evolving travel patterns. These elements are primarily found in tourist destinations, coastal areas, and mountain towns, which has led to an increase in the number of lodging facilities including motels, hotels, and guest homes as well as resorts, open areas, and public gardens.
Impact of COVID-19 Pandemic on Portable Power Station Market
As a result of this epidemic, one of the primary sectors of the global economy, consumer goods, is experiencing severe disruptions, including supply chain interruptions, cancellations of technology events, and office closures. The largest provider of raw materials to many industries and the centre of the world's production, China is also one of the nation’s most severely impacted by the COVID-19 pandemic. The lockout of numerous factories and plants in China has a negative influence on the production and sales of numerous outdoor furniture firms as well as the worldwide supply chains. Due to factory closures, supply chain challenges, and the global economic downturn, COVID-19's overall market collapse is also having an impact on the growth of the outdoor furniture market.
Some of the companies competing in The Sterile Compounding Pharmacies Market are
- Agio International Company, Ltd.
- Ashley Home Stores, Ltd.
- Barbeques Galore
- Brown Jordan
- Century Furniture LLC
- Home crest Outdoor Living LLC
- Keter Group
- Inter IKEA Systems B.V.
- Florida Patio Furniture Inc.
- Polywood
The market for outdoor furniture is also anticipated to rise during the projected period as a result of an increase in hotels and restaurants. Consumers are also being influenced to spend more on outdoor furniture in the residential market by rising financial capacity of consumers to spend on leisure activities. With visually pleasing seating arrangements, many home owners are focusing on increasing the appearance of the garden, open spaces, or balcony. The market for outdoor furniture is primarily driven by the sale of tables, seating ensembles, and lounge chairs.
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