Patio Furniture Market Size, Share, Growth, and Industry Analysis, By Type (Plastic Patio Furniture, Metal Patio Furniture, Wood Patio Furniture & Resin Patio Furniture), By Application (Residential & Commercial), and Regional Forecast to 2032

PATIO FURNITURE MARKET OVERVIEW

The global Patio Furniture market size expanded rapidly XX in 2023 and is projected to grow substantially XX by 2032, exhibiting a prodigious CAGR XX during the forecast period.

The patio furniture market includes practically every piece of movable outdoor furniture that is intended to complement living spaces that are outside the home. Furnishes for the patio are features like tables, chairs, and chaises and lounges, together with umbrellas made from such materials as wood, metal, and plastic. It is known that this market provides various essentials and accessories for the zones, including private homes and commercial areas that require functional and aesthetic designs for the outdoors. With changing trends of people, there will always be the need for good quality and efficient furniture to use on patios.

GLOBAL CRISES IMPACTING PATIO FURNITURE MARKETCOVID-19 IMPACT 

Patio Furniture Industry Had a Positive Effect Due to Increased Outdoor Living and Home Improvement Trends during COVID-19 Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic meant that the consumers had to stay indoors for most of the time and, therefore, transitioned to making their patios more comfortable. Given the measures that limited people’s movement and public gatherings, they took to improving patios, balconies, and gardens for leisure. This increased demand helped in the sales of the outdoor furniture and played a role in the growth of the market during the COVID period.

LATEST TREND

"Sustainability and multifunctional designs are driving market growth"

One latest trend in the choice of patio furniture is associated with the increasing popularity of products made of ecologically friendly materials like recycled plastic and renewable woods. It is therefore clear that people are shifting their preference towards more environmentally friendly products when it comes to outdoor furniture. Secondly, there is a trend toward multifunctional and modular solutions because they can be easily changed and are time and space efficient. The trend towards sustainability remains an important factor defining further market developments.

PATIO FURNITURE MARKET SEGMENTATION

BY TYPE

Based on Type, the global market can be categorized into Plastic Patio Furniture, Metal Patio Furniture, Wood Patio Furniture & Resin Patio Furniture

• Plastic Patio Furniture: Patio furniture is usually made of recycled plastic; it is affordable and easy to maintain, hence widely used in outdoor facilities. It is a little rigid and not very colorful, but it is weatherproof and easy to clean as well. But the growing application of recycled plastic is also ballooning because of environmental concerns.
• Metal Patio Furniture: Hard-wearing furniture are the ones that are made from metals such as aluminium, steel, or wrought iron. It is quite durable to different types of weather but may call for refinishing to avoid rusting or corrosion. Metal designs are appealing to the eye and fancy for a contemporary and professional appearance, which motivates clients with great patios to go for it.
• Wood Patio Furniture: This furniture is appreciated because of its organic design and sturdiness, many of them constructed from tropical lumber, for example, teak, cedar, or eucalyptus. It is more costly but has a classic look and cannot deteriorate without proper maintenance measures being applied to it. Sustainability, especially in the acquisition of raw materials and environmentally responsible coatings, is now critical in this sector.
• Resin Patio Furniture: Durable resin patio furniture is made of high-density polyethylene with a wicker look and feel. UV-protected construction makes it appropriate for areas that are exposed to direct sunlight, and the surfaces do not require much fixing all in all. Due to its portability, it is suitable to be used in different places, and it is strong enough to withstand the outdoor environment.

BY APPLICATION

Based on application, the global market can be categorized into Residential & Commercial

• Residential: In the residential application, the patio furniture is used for the improvement of the living areas like gardens, balconies, and patios. The consumer’s desired features include level of comfort, style, and protection from various weather conditions; the trends include consideration of using environmentally friendly and personalized architectural solutions. This increase in the trends of outdoor entertainment and relaxation has also helped drive demand for residential patio furniture.
• Commercial: This is an industry for restaurant furniture, hotel furniture, resort furniture, and other outdoor usage spaces furniture. Some factors that are usually exercised when selecting furniture to be put in such areas include durability, ability to withstand weather conditions, and ease in the process of cleaning. More and more people dine and engage in leisure outdoors, and this has led to most companies topping up their patios with quality furniture.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.          

DRIVING FACTORS

"Increased outdoor living drives market growth and spending"

Since there is a trend where more people are now considering the outside of their home as liveable space too, there is a positive effect on the sale of patio furniture like a patio table and chairs, balcony chairs and tables, and garden chairs and tables. Thus, consumers are willing to spend more on their furniture so as to get comfortable and fashionable furniture suitable for use outside. It has also resulted in the Patio Furniture Market Growth, especially in residential areas and complexes.

"Hospitality sector growth boosts market due to increased demand"

Recent progression in the hospitality and tourism sector, including hotels, resorts, restaurants, and other food chains that are involved in food and beverage distribution, has been another key driver for the patio furniture market. A factor that has emerged as significant in the operations of businesses in these sectors is the need to design pleasant outdoor spaces where customers could access them. Therefore, consumer demand for products that are resistant to wear and tear and other vagaries of the weather has increased drastically among commercial establishments.

RESTRAINING FACTOR

"High costs and raw material volatility limit market growth"

The limitation of the patio furniture market as a restraint is due to the cost of patio furniture that remains high, making it hard for the market to expand its operations among the middle-income earners. The materials, such as teak, metal, or resin, are mostly quality items, which means they are expensive; therefore, users who have a limited budget cannot afford it. Moreover, volatility in the raw material price can affect the price of finished products, which in turn restricts market growth.

OPPORTUNITY

"Environmental consciousness drives market growth with sustainable products"

An area of growth in the patio furniture market could be the increasing trend of environmental conservation, therefore leading to being environmentally conscious through purchasing sustainable patio furniture. Customers are demanding smart products made from recycled or renewable raw materials such that they fit the environmental standards. This trend also offers an opportunity to the manufacturers in terms of expanding and coming up with products that will address the green-conscious buyers’ market in the society.

CHALLENGE

"Raw material price volatility and supply chain issues impact market growth"

The patio furniture market has to wrestle with such a problem as price volatility of raw materials and supply chain issues. The cost of input raw materials such as the woods, metals, and resins used may also fluctuate in the market; hence, it defines production costs and its stability of prices. Also, when it comes to supply chain management, one may have to deal with some articles’ lead times going up and increased inventory exposure to customers.

PATIO FURNITURE MARKET REGIONAL INSIGHTS

•  NORTH AMERICA

North America's high spending and robust retail drive market growth

North America holds the largest Patio Furniture Market Share owing to its high-end spending on the furnishing of outdoor spaces and the availability of a robust retail network. The North American geographic region is the most influential factor for the globalization of the patio furniture market, especially the United States patio furniture market, because of the change in trend in leisure and entertainment from indoors to outdoors associated with high disposable income. Other factors that pull up demand include the country’s broad residential and commercial spaces.

• EUROPE

Europe’s demand for durable, stylish, and eco-friendly furniture drives market growth

Europe has a very big contribution in the patio furniture market due to the climatic conditions and the culture of having outdoor furniture. The demand is high because the region prioritizes fashionable and durable outdoor furniture, especially in countries that have agreeable weather for outdoor activities. Likewise, Europe is shifting consumers' awareness towards sustainable and eco-friendly products that eventually affect the market.

•   ASIA

Asia's urbanization and rising incomes drive strong market growth

Asia, which is one of the largest segments of the patio furniture market, experiences the growth of urbanization rates and people’s disposable income, which leads to a higher need for comfortable outdoor furniture. Market growth is being driven by the increasing middle-class population and improving concern for new-age lifestyles across the region. In the same way, the manufacturing industry in Asia allows affordable production, hence a strong market player locally and globally.

KEY INDUSTRY PLAYERS

"Industry majors drive market growth through innovative designs and quality"

Industry majors are the major factors that are leading to market development through the development of patio furniture products in terms of designs and materials. It increases product attractiveness and market penetration because of their investment in sustainable activities and high-quality production. These affiliations, coupled by vast sales and distribution channels and brilliant marketing tactics, strengthen their impact and enlarge the market consumer base.

LIST OF TOP PATIO FURNITURE COMPANIES

• Agio International Company Limited (China)
• Artie (U.S.)
• B&B Italia (Italy)
• Barbeques Galore (Australia)
• Brown Jordan (Florida)
• Coco Wolf (U.K.)
• Yotrio Corporation (China)

KEY INDUSTRY DEVELOPMENTS

March, 2024: “Terrazzo” collection of outdoor dining furniture was introduced by Brown Jordan. This range consists of stylish and minimalist forms built of high-quality and highly resistant materials; it is characterized by the application of advanced technologies, including built-in illumination and charging contacts for devices. Thus, it is anticipated that the patio furniture growth with emphasis on the “Terrazzo” collection will answer to the demand for modern design and versatile outdoor products.

REPORT COVERAGE 

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.