The U.S. outdoor furniture market is booming, with steady growth projected in the coming years. Homeowners continue to seek out attractive, comfortable, and long-lasting pieces to enhance their open-air living spaces. This article will delve into the key metrics, insights, and trends in this dynamic sector.
Current Status of the U.S. Outdoor Furniture Market
According to market reports, the U.S. outdoor furniture market size was valued at approximately $18.15 billion in 2020. The market is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2021 to 2028. The growth is fueled by a rise in consumer spending and increased interest in outdoor spaces as extensions of the home’s interior.
Segmentation in the Outdoor Furniture Market
The outdoor furniture market is segmented by product into seating sets, dining sets, and other outdoor furniture. Among these, the seating sets segment accumulated the largest market share in 2020, driven by increasing consumer preference for comfortable, luxurious outdoor seating solutions.
Trends in the U.S. Outdoor Furniture Market
Trends shaping the U.S. outdoor furniture market include an increased focus on sustainability and eco-friendly materials, the rise of do-it-yourself (DIY) outdoor projects, and the integration of technology into outdoor furniture designs. In addition, there has been a growing shift toward high-end, luxury outdoor furniture.
Top Players in the U.S. Outdoor Furniture Market
The top players in the U.S. outdoor furniture market include Brown Jordan, Agio International, Home Depot, Lowe’s, and Restoration Hardware. These players are pioneering new designs, materials, and technologies to meet the evolving demands of consumers.
In conclusion, the U.S. outdoor furniture market offers immense opportunities for manufacturers, retailers, and consumers alike, driven by increasing consumer spending, innovative designs, and shifting consumer preferences. With continuous evolutions anticipated in the coming years, the market is expected to thrive, fueling developments in home improvement and outdoor living spaces.