About Outdoor Furniture
The demand for outdoor furniture has increased, driven by growth in the outdoor landscaping market in the US. Consumers' purchase decisions for outdoor furniture are largely influenced by their changing lifestyles and the equal emphasis on both interior and exterior décor. The recovery of the US economy has also helped increase the purchase of outdoor furniture as people seek to expand their outdoor living areas. Outdoor furniture products that are made of natural, durable, and weather-resistant materials are in high demand, as they provide an aesthetic appeal to the outdoor space. Increasing construction activities and the availability of high-quality furniture are also favorable for the market's growth.
Technavio’s analysts forecast the outdoor furniture market in US to grow at a CAGR of 3.95% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the outdoor furniture market in US for 2017-2021. To calculate the market size, the report considers the revenue generated from the retail sales of outdoor furniture to individual customers and commercial users in the US.Technavio's report, Outdoor Furniture Market in US 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Outdoor Furniture Market in US 2017-2021
Technavio recognizes the following companies as the key players in the outdoor furniture market in US: Berkshire Hathaway, Brown Jordan International, Century Furniture, Forever Patio, Homecrest Outdoor Living, IKEA, and Williams-Sonoma.
Other Prominent Vendors in the market are: Amazon, AMERICAN SIGNATURE FURNITURE, ATGStores, Cabela's, Costco Wholesale, Ethan Allen Global, Haverty Furniture, Herman Miller, JCPenney, Kroger, La-Z-Boy, Otto, Overstock, Pier 1 Imports, Raymour & Flanigan Furniture, RH, Sears Brands, Sleepy's, Target Brands, Walmart, and Wayfair.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is outdoor furniture products with multifunctional features. The concept of outdoor living has led to an increased demand for multifunctional and flexible furniture. For instance, different types of chairs and tables that can be converted into large bookcases are available in the market today. Tables and benches with built-in storage space, dining sets that can be converted into conversation sets, allowing consumers to reconfigure their arrangements as per their needs, and ottomans that serve as both casual seats and side tables are gaining considerable traction in the market. Consumers are increasingly renovating household items to convert them for use in their outdoor space.”
According to the report, one driver in market is expanding product lines and innovation in design and materials. With changing lifestyles of the population in the country, the emphasis on outdoor décor has increased considerably in the US. This factor, coupled with the emerging concept of staycation, is encouraging the sales of and demand for outdoor landscaping, including furniture. To meet the growing demand, manufacturers are expanding their product lines by introducing new patio or garden furniture, ottomans, and chaises through new ranges and collections. For example, Bunny Williams Outdoor was launched by Century Furniture in 2016, which is a series of outdoor arm chairs and upholstery lines.
Further, the report states that one challenge in market is longer replacement cycle of products leading to decreasing average annual furniture expenditure in the US. Although the latest interior design trends play a significant part in determining the purchase decisions for furniture products, most residential outdoor furnishings, especially furniture, are meant for long-term use and generally do not require frequent replacement. Also, some outdoor furniture products are expensive and considered to be a one-time expenditure by many. Moreover, most branded outdoor furniture and furnishing products are durable and of superior quality. Consumers only need to incur maintenance and cleaning costs for these over the years, which are usually minimal. This reduces the need for frequent purchase of outdoor furniture and furnishings, which acts as a major growth barrier for the market.
Berkshire Hathaway, Brown Jordan International, Century Furniture, Forever Patio, Homecrest Outdoor Living, IKEA, Williams-Sonoma, Amazon, AMERICAN SIGNATURE FURNITURE, ATGStores, Cabela's, Costco Wholesale, Ethan Allen Global, Haverty Furniture, Herman Miller, JCPenney, Kroger, La-Z-Boy, Otto, Overstock, Pier 1 Imports, Raymour & Flanigan Furniture, RH, Sears Brands, Sleepy's, Target Brands, Walmart, Wayfai.
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