September 13, 2021
According to the report titled ‘Europe Outdoor Furniture Market Forecast 2027 By End-User, By Material, By Product, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with Market Study Report, Europe outdoor furniture market is anticipated to record a remunerative growth with total valuation reaching USD 6.45 billion by the year 2027.
Shift in consumer spending towards better lifestyle, backed by the increase in disposable incomes is propelling the growth of Europe outdoor furniture market. Also, outbreak of the COVID-19 pandemic has stimulated the trend of outdoor activities within residential premises due to travel bans and mobility restrictions, which in turn has channelized the demand for outdoor furniture.
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Furthermore, preference for high-end outdoor furniture which is comfortable as well as durable among the growing elderly population, along with surge in renovation activities of residential buildings are catalyzing the market expansion.
Based on material type, Europe outdoor furniture market is segmented into wood, plastic, metal, textile, and others. Among these, wooden furniture segment captured 51% market share in 2020 and is expected to register notable gains during the forecast period. The progress can be credited to benefits offered by wooden furniture like high durability, resistance against mechanical damage, exceptional comfort level, and impressive aesthetics. Moreover, recycled timber and other eco-friendly alternatives are being widely adopted in the wake of rising environmental concerns, which in turn is stimulating segmental share.
By product terrain, the industry is bifurcated into chairs, tables, seating sets, dining sets, loungers & dry beds, and others. The table segment is gaining momentum in the marketplace, due to wide availability of the product in various sizes and configurations. Moreover, to cater to the consumer demands and specific applications, manufacturers use metal, glass, wood, aluminum, among others for appealing table designs.
On the basis of end user spectrum, the market sphere is split into residential, and commercial segments. The residential sector has captured a significant market share in the recent years, attributable to rapid increase in the home purchase rate in the region. Meanwhile, commercial sector is slated to exhibit a CAGR of 5.4 % through 2027, backed by the high popularity of Europe as a holiday destination. Visitors from all across the globe visit exotic locations in the region and spend massively on luxury accommodation, which further boosts the adoption of outdoor furniture.
Speaking of country-wise opportunities, Germany is reckoned to generate substantial returns by the year 2027, as the nation is the major consumer for high quality wooden furniture and day beds for outdoor settings, influenced by higher standard of living.
Key players operating in Europe outdoor furniture industry are Plaisir du Jardin Pty Ltd., Haworth, Inc., Danzer AG, RODA S.r.l., Fischer Mobel GmbH, IKEA Ltd., EMU Group S.p.A, Royal Botania NV, Hartman Outdoor Products UK Ltd., Trex Company, Inc., Hospitality Rattan, Unopiu S.p.A, Keter Group, TUUCI LLC, Formica Ltd., Klausner Group, and SUN GARGDEN GmbH.