In the latest news, a recent report by Technavio, a market research agency, pointed out that from 2022 to 2027, the outdoor furniture market is expected to increase by $5.2 billion, with a compound annual growth rate of 3.28%.
1、Product innovation has become the main driving force for outdoor furniture.
With the expansion of the product portfolio, innovation in product design is driving the growth of the global outdoor furniture market. The changes in the way of life of the people of all countries have prompted people to attach great importance to outdoor decoration. In order to meet the growing demand, outdoor furniture suppliers in the market are gradually expanding their product lines.
2、environmental protection outdoor furniture demand has become a trend.
The increase in demand for environmentally friendly outdoor furniture is a major trend in the market. More and more people choose eco-friendly furniture as a way to protect the environment. Today, there are a variety of environmentally friendly furniture materials that can provide better alternatives to forest wood. Environmental concerns, the negative effects of deforestation and the effects of toxic coatings in the air have prompted furniture manufacturers to adopt green solutions.
3、 low-frequency replacement is still the main challenge .
The long replacement cycle and low-frequency consumption are still the main challenges hindering the growth of the outdoor furniture market. High-end high-quality furniture does not need to be replaced often, and high-quality wooden furniture is characterized by a longer replacement cycle than furniture made of cheap materials such as plastic. The initial cost of outdoor furniture products is high and the replacement cycle is long, which will hinder the growth of the market.
Technavio said that the outdoor furniture and accessories market share will grow significantly during the forecast period. The living concept of outdoor living areas is stimulating the demand for residential outdoor furniture. A strong recovery in the residential housing market in both developed and developing countries and an increase in consumer spending will drive economic growth in the market over the forecast period.
(This article is from: Home micro news wechat official account.)
Post time: Jun-30-2023
