Luxury Outdoor Furniture Market to Grow with a CAGR of 5.21% Globally through 2029F
Global Luxury Outdoor Furniture Market continues to thrive
due to factors such as sustainable & eco-friendly designs, smart &
tech-integrated features, and customization & personalization options.
According to TechSci Research report, “Luxury
Outdoor Furniture Market - Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2029F”, the Global Luxury Outdoor Furniture
Market stood at USD 2.36 billion in 2023 and is anticipated to grow with a CAGR
of 5.21% in the forecast period. The global luxury outdoor furniture market is
a dynamic and thriving industry that has experienced significant growth in
recent years. This market encompasses a wide range of outdoor furniture
products designed to enhance the comfort and aesthetics of outdoor spaces.
The luxury outdoor furniture market has seen
remarkable growth in recent years, driven by several factors. First and
foremost, the rising disposable incomes of consumers worldwide have made luxury
outdoor furniture more accessible. As economies have grown, many individuals
and households have had the means to invest in high-quality outdoor furniture
that offers both functionality and aesthetic appeal. The desire for outdoor
spaces that reflect personal style and provide a comfortable oasis has led to a
surge in demand for luxury outdoor furniture.
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There has been a cultural shift towards outdoor
living. People around the world are increasingly valuing their outdoor spaces
as extensions of their homes. Whether it's a cozy patio, a spacious deck, or a
well-landscaped garden, outdoor areas have become central to leisure and social
activities. This shift has created a strong market for luxury outdoor
furniture, as consumers seek products that provide the same level of comfort
and style as their indoor furnishings. The global luxury outdoor furniture market has also
benefited from advances in materials and design. Manufacturers have been
exploring innovative materials that are weather-resistant and durable, yet
still offer a luxurious look and feel. This has enabled the creation of outdoor
furniture pieces that can withstand the elements without compromising on style
and comfort. Furthermore, modern design trends have emphasized clean lines,
sleek profiles, and a harmonious blend of indoor and outdoor aesthetics. Luxury
outdoor furniture has adapted to these trends, offering a wide range of designs
that cater to different tastes and preferences.
One of the notable trends in the luxury outdoor
furniture market is the blurring of lines between indoor and outdoor living
spaces. Many homeowners are looking to create a seamless transition between
their interior and exterior spaces, making outdoor furniture a natural
extension of their indoor decor. This trend has driven the demand for outdoor
furniture that complements indoor design elements, such as color schemes,
materials, and styles. As a result, luxury outdoor furniture has become an
integral part of the overall home decor, making it a central focus of attention
for consumers and designers alike. The convenience of e-commerce has also played a
significant role in the growth of the global luxury outdoor furniture market.
Consumers now have access to a vast array of options at their fingertips,
allowing them to research, compare, and purchase products online. E-commerce
has made luxury outdoor furniture more accessible to a broader audience, with
the added convenience of home delivery and the ability to explore a wide range
of products from various manufacturers. As a result, online sales of luxury outdoor
furniture have been on the rise, with many consumers opting for the ease and
variety offered by e-commerce platforms.
Major players in the global luxury outdoor furniture
market include both established brands and emerging players. Well-known
manufacturers such as Brown Jordan, Gloster, Kettal, and Dedon have a long
history of producing high-end outdoor furniture, often associated with quality,
craftsmanship, and innovative design. These brands continue to innovate and set
trends in the market. Emerging companies, on the other hand, are entering
the luxury outdoor furniture market with a fresh perspective and a focus on
sustainability, new materials, and innovative design concepts. They are
challenging the traditional norms of outdoor furniture, introducing new
aesthetics, and often catering to a younger, design-conscious demographic.
In terms of materials, the market has seen a shift
towards sustainable and environmentally friendly options. This includes the use
of recycled materials, as well as a focus on furniture that can be easily
disassembled and recycled at the end of its life cycle. Additionally, there is
a growing interest in outdoor furniture that is made from renewable materials
such as bamboo and teak, which are both durable and ecologically responsible. Moreover, technology is making its mark on the luxury
outdoor furniture market. Smart outdoor furniture with integrated lighting,
heating, and sound systems is becoming increasingly popular. This tech-savvy
approach allows consumers to create sophisticated and comfortable outdoor
spaces that can be controlled remotely through smartphones or other devices. The global luxury outdoor furniture market is not just
limited to residential consumers. It extends to the hospitality and commercial
sectors as well. High-end hotels, resorts, and restaurants are increasingly
investing in luxury outdoor furniture to create inviting and upscale outdoor
dining and lounging areas for their guests. The demand for commercial-grade
luxury outdoor furniture has opened up new opportunities for manufacturers and
designers to cater to this growing segment.
The global luxury outdoor furniture market is
segmented into material, end-use, regional, and company.
Based on the material, Woods have surged as the fastest growing material in the Luxury Outdoor Furniture Market, blending natural elegance with durability. Teak, renowned for its weather resistance, remains a top choice, aging gracefully with minimal maintenance. Eucalyptus emerges as a sustainable alternative, prized for its rapid growth and eco-friendly appeal. These woods not only withstand the elements but also offer exquisite textures and hues, enhancing alfresco spaces with timeless beauty. As sustainability gains prominence, consumers favor these materials for their low environmental impact and long-lasting quality, making them pivotal in shaping the future of luxury outdoor furniture design.
Major companies operating in Global Luxury
Outdoor Furniture Market are:
- Brown Jordan Inc
- Gloster Furniture GmbH
- B&B Italia S.p.A.
- Royal Botania NV
- Manutti BV
- KETTAL SL
- Woodard-CM, LLC
- EGO SAS
- TRIBÙ AMERICA LLC
- RODA SRL
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“The global luxury outdoor furniture market has
experienced remarkable growth in recent years, driven by factors such as rising
disposable incomes, a cultural shift towards outdoor living, innovative
materials and designs, the blurring of indoor and outdoor spaces, the
convenience of e-commerce, and regional variations in consumer preferences. The
market has attracted a mix of established and emerging players, and
sustainability and technology are influencing product development. With a
promising outlook for the future, the luxury outdoor furniture market is set to
continue evolving and meeting the demands of consumers looking to elevate their
outdoor spaces with style and comfort.” said Mr. Karan Chechi, Research
Director of TechSci Research, a research-based management consulting firm.
“Luxury Outdoor Furniture Market – Global Industry
Size, Share, Trends, Opportunity, and Forecast, Segmented By Material (Metal,
Plastic, Wood, Glass, Leather), By End-Use (Domestic Use and Commercial Use),
By Region, By Competition, 2019-2029F, has evaluated the future growth potential of global luxury
outdoor furniture market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in global luxury
outdoor furniture market.
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