The global outdoor furniture market size in 2023 is $50.73 billion and is expected to grow from $53.27 billion in 2024 to $81.44 billion in 2032, with a compound annual growth rate of 5.45% during the forecast period.

 

 Rapid urbanization and the continuous improvement of people's living standards have influenced manufacturers to design furniture according to changing customer preferences, keeping in mind the latest fashion and luxury trends at the Shanghai Furniture Fair. Most interior decoration companies are shifting their focus to manufacturing fixtures that are lightweight, environmentally friendly, durable and do not harm the environment, thus catering to a wider consumer base.

Consumers tend to participate in physical activities to increase product demand

 

Consumers at the Shanghai Furniture Fair are increasingly interested in garden furniture as it can provide a soothing and comfortable environment for social gatherings such as parties and conferences. The garden sofa is designed to accommodate the natural environment and the external influences of rain, cold and hot weather conditions. In addition, they do not deteriorate over time and balance aesthetic appeal and comfort, providing sustainable solutions for garden Spaces and enhancing social interaction for users. According to a January 2021 survey by the International Leisure Furniture Association, nearly six in 10 Americans (58 percent) plan to purchase at least one new furniture accessory for their lawn living space.

 

In addition, lawn tables are made of aesthetically pleasing materials that are weather-resistant and durable, thus complementing the demand for such products. They are widely built for use in lawns, gardens and home backyards, increasing people's interest in outdoor enjoyment, gatherings and discussions.

The increasing number of chain restaurants and hotels is accelerating the demand for products

 

Fast-paced city life and people's growing economic capacity allow them to spend on recreational activities, such as dining in rooftop bars and kitchens. The growing demand for comfortable dining offers numerous growth opportunities for hotels and restaurants to choose rooftop dining Spaces. Such products have a comfortable appeal and can be used as alfresco dining Spaces on the roofs of restaurants and hotels, which has a positive impact on the consumption of dining chairs and tables for outdoor seating. In addition, the hotel and restaurant industry is constantly changing due to consumer preferences, societal shifts and technological advances. Micro, Small and Medium Enterprises (MSME) have introduced new and innovative infrastructure concepts for the catering industry, further driving the market growth.

High raw material costs limit the production process and hinder market expansion

 

Furniture is usually made of wood, metal and plastic or a combination of them and is carefully designed to meet changing customer needs. These materials are expensive and expensive to manufacture, which raises the price of the final product. Materials used to prepare such products need to exhibit a variety of properties, such as corrosion resistance, crack resistance and high tensile strength. In addition, rising transportation and labor costs, as well as rising geopolitical tensions around the world, are placing increasing demands on materials. Factors for increasing raw material costs. However, the high production cost of such products ultimately hampers consumer demand, thus restraining the growth of the industry.

 

If you want to learn more about the food industry, please visit the Shanghai Furniture Fair website to learn more.

 

Source: Fortune Business Insights

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