by The outdoor furniture and grill market comprises of various furnishings and accessories made for outdoor usage. Outdoor furnishings include tables, chairs, loungers, umbrellas and others while grills include gas, electric and charcoal grills. These products are made using weather-resistant materials such as wood, wicker, aluminum, plastic and others to withstand outdoor weather conditions. The key end users of outdoor furniture and grills include households and commercial settings like restaurants, hotels and outdoor cafes.
The Outdoor Furniture and Grill Market is estimated to be valued at US$ 48.93 Bn or Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the growth of outdoor furniture and grill market is rising spending on outdoor and patio decor. Consumers are increasingly investing in upgrading their outdoor spaces with high quality and stylish furniture sets and modern grills for leisure activities and dining. Additionally, growing popularity of outdoor recreational activities like camping, barbeque parties and picnics has boosted the demand for outdoor accessories. Changing lifestyle patterns along with rising disposable income of consumers in developing regions is another factor supporting the market growth. However, fluctuation in raw material prices remains a key challenge for manufacturers.
Segment Analysis
The outdoor furniture and grill market is segmented into outdoor furniture and outdoor grills. The outdoor furniture segment dominates the market and accounts for approximately 65% share. Some of the key outdoor furniture products are chairs, tables, loungers, ect. Of these, outdoor tables are the dominating sub-segment owing to their wide usage across residential and commercial settings like restaurants, pubs, hotels etc.
PEST Analysis
- Political: Region specific policies regarding outdoor installation, usage and material guidelines impact the market. Economic: Higher
- discretionary spending on outdoor activities and increasing home improvement/renovation projects boost demand. Social: Changing
- lifestyle and growing consumer preference for outdoor activities is a key driver. Technological: Advancements in materials and finishes enhance product functionality, durability and aesthetics.
Key Takeaways
The global outdoor furniture and grill market is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing consumer spending on outdoor living spaces and recreational activities. The market size for 2023 is estimated to be US$ 48.93 Bn.Regional analysis: North America dominates the market and is expected to retain its leading position over the forecast period owing to warm weather conditions and rising trends of outdoor entertainment in countries like US. Europe is another major regional market for outdoor furniture and grills.
Key players: Key players operating in the outdoor furniture and grill market include Agio International Co., Inc., Homecrest Outdoor Living, LLC, Brown Jordan International Inc., Century Furniture LLC, Craftmade International Inc., Brown Jordan International Inc., Unaka Corporation, Weber-Stephen Products LLC, Keter Plastic Ltd., and Tropitone Furniture Co Inc. These players are focusing on new product launches catering to the changing consumer preferences.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
