How Big Is the Outdoor Furniture Industry?

The outdoor furniture industry is an incredibly large and rapidly growing one. With the increasing trend of people spending more time outdoors and living spaces becoming increasingly more functional, outdoor furniture has become a must-have for many homeowners. From small patio sets to large outdoor dining sets, there is a wide selection of outdoor furniture available on the market today.

The outdoor furniture industry began to take off in the 1980s when manufacturers started producing durable and weather-resistant materials like plastic, aluminum, and resin wicker that could stand up to the elements. This allowed homeowners to create comfortable and stylish outdoor living spaces that were also low-maintenance. As technology improved over the years, so did the available materials used in outdoor furniture; now there are even options made from recycled plastic or wood composite that look like real wood but are much more durable and weather-resistant.

In addition to traditional patio sets, there are now a variety of other items available on the market such as gazebos, fire pits, hammocks, fountains, and so much more. These items help create an inviting atmosphere for entertaining guests outdoors or simply relaxing after a long day. With all of these options available, it’s no wonder why more people are investing in their outdoor spaces with high-quality pieces of furniture that can last for years to come.

The global outdoor furniture market size was estimated at $30 billion in 2018 and is expected to reach $70 billion by 2026 with an estimated compound annual growth rate (CAGR) of 11%. This growth can be attributed to the increasing trend of people spending more time outdoors as well as improvements in technology that have allowed manufacturers to produce higher quality items at lower prices.

Additionally, more people are looking for ways to make their homes look modern and stylish without having to break the bank.

Conclusion:

It’s clear that the outdoor furniture industry has seen tremendous growth in recent years due its popularity among homeowners looking for stylish yet affordable pieces for their homes. With further advancements in technology allowing for better materials and lower prices, this industry will only continue to grow as people continue looking for ways to make their homes both beautiful and functional.

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Jennifer Watson