Market Size of United States Outdoor Furniture Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.42 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Outdoor Furniture Market Analysis
The United States outdoor furniture market size is expected to grow from USD 6.05 billion in 2023 to USD 7.88 billion by 2028, at a CAGR of 5.42% during the forecast period (2023-2028).
The US outdoor furniture market witnessed substantial growth in the past couple of years. Factors such as the rise in consumer spending and traveling trends increased the number of tourists worldwide. The growing residential and commercial construction market and innovations in product design and portfolio expansion drive the market. In addition, the demand for patio heating products in commercial and residential spaces is anticipated to boost market growth. The increasing demand for environment-friendly outdoor furniture is driving the outdoor furniture market in the United States. Also, the increasing availability of multi-functional outdoor furniture and growing sales of outdoor furniture products online may lead to sizable demand in the market. Many hotels and restaurants are expected to propel the outdoor furniture market.
Furthermore, the increasing financial capacity to spend on leisure activities induces consumers to spend more on outdoor furniture in the residential sector. Several homeowners focus on enhancing the garden or balcony appearance with aesthetically appealing sitting areas. Lounge chairs, seating sets, and tables are the key products generating substantial revenue in the outdoor furniture market. The usage of outdoor furniture is increasing faster in the commercial sector. The growing trend of traveling, exploration of new places, and changing lifestyles are the key factors boosting the sector's growth. Several manufacturers are concentrating on the commercial sector due to the abovementioned factors to maximize their sales.
COVID-19 stunned the US economy and changed the outdoor furniture market scenario entirely. It harshly impacted the US outdoor furniture market. The coronavirus disease (COVID-19) outbreak acted as a substantial curb on trade, and consumption dropped due to lockdowns imposed by the government. Steps by the national government to contain the transmission have resulted in the halting of manufacturing activities and a decline in economic activity, with countries entering a state of lockdown. COVID-19 further demonstrated the gap in the United States, forcing many brands and retailers to rethink their e-commerce and omnichannel retail strategies. Post-COVID, the United States outdoor furniture market has shown significant growth with sustainable solutions.
