Outdoor furniture, also known as garden furniture or patio furniture, is specifically designed for outdoor decoration of house or building. Weather resistant materials such as aluminum, and plastic are used in the manufacturing of outdoor furniture.
Outdoor furniture includes chairs, tables, seating sets, dining sets, and loungers & daybeds. It comes in several attractive designs and styles. Growing urbanization and rising disposable income are major drivers of the luxury outdoor furniture market. However, increase in concern about deforestation and its impact on the environment as well as use of toxic chemicals while making the furniture are likely to shift consumer preference toward eco-friendly products. This can hamper the market. The expansion of service sector has fueled the demand for luxury outdoor furniture. Furthermore, change in lifestyle and boost in disposable income are fueling demand for outdoor furniture in the residential segment. Moreover, an increase in number of hotels and cafes is anticipated to influence the luxury outdoor market positively in the next few years. Europe and North America dominated the luxury outdoor furniture market owing to high income and more emphasis on outdoor décor.
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Global Luxury Outdoor Furniture Market: Competitive Landscape
Several regional and global players companies operate in the luxury outdoor furniture market. Leading market players are focusing on further innovation in their products and business expansion in order to boost their market share.
- In May 2019, Williams-Sonoma, Inc., a retailer of home furniture has announced its partnership with Golden State Warriors, Chase Center. As per this partnership agreement, Williams-Sonoma will be official furniture and home design partner of the Warriors.
- Consumers are preferring eco-friendly products due to rise in awareness about the negative impact of deforestation and toxic chemicals used in furniture manufacturing. Furthermore, companies are aiming to reduce their carbon footprints and offer eco-friendly, green alternatives.
Linya Group Co., Ltd
Linya Group Co., Ltd was founded in 1996 in Zhejiang Province, China. Company’s portfolio includes chairs, tables, swings, umbrellas, and gazebos. Linya has around 5000 employees. The company exports its products across Europe, Japan and US.
Inter IKEA Systems B.V.
Inter IKEA Systems B.V. was established in 1943. The company has around 200,000 employees. It sells furniture products for household and commercial usage. The company has around 422 stores across 50 countries. Inter IKEA Systems B.V. has commissioned IKEA of Sweden AB, in Älmhult, Sweden, to manufacture the IKEA product range.
Yotrio Corporation
Yotrio Corporation was founded in 1990. It is listed on Shenzhen stock market. The company is located in Los Angeles, CA, U.S. It works as a part of Yotrio Group Co., Ltd, manufacturer of outdoor furniture in China. The company has sales headquarters located in Los Angeles, California, U.S. and Toronto, Canada.
Some of the international and domestic players operating in the luxury outdoor furniture market include Duresta, Brown Jordan International, Agio International Company, LTD, Kettal, keter, Fischer Möbel GmbH, and Brown Jordan International.
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Luxury Outdoor Furniture Market: Dynamics
Change in lifestyle and improvement in standard of living of consumers
Rise in disposable income of people across the globe has influenced the lifestyle of people. Change in lifestyle and improvement in the standard of living of people due to the growing urbanization are expected to drive the luxury outdoor furniture market during the forecast period.
Expansion of online marketing and selling platforms
Online platforms such as e-commerce sites offer a great opportunity for manufacturers to cater to diverse customers across different regions. The manufacturer is expanding its market through online platforms which helps them to reach consumers in various regions. Growing Interaction between manufacturers and final customer is expected to grow through new devices and social media in the next few years.
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