A new report on the outdoor furniture market in the United States says sales will exceed five billion dollars within the next five years. Global Industry Analysts Inc attribute the growing market to increasing consumer demand for lavish outdoor living spaces, comfortable seating, and elaborate lighting.
The trend is also being driven by the continuing economic recovery, the general popularity of fashionable lifestyle products, and higher disposable incomes.
The report says there's a growing demand for outdoor rooms, "nesting," and "cocooning," all factors that are contributing to the growth of the outdoor furniture industry. Also boosting sales are demographic changes, outdoor renovation and environmental concerns. Competition has moved from the premium part of the market to the mass-market level, and even "average" households are embracing the trend.
Governed by fashion styles, the current trend is toward neutral colors and simple designs (like the furniture shown above). The report says a preference for metal garden furniture is growing at a steady pace, with aluminum furniture leading the way. There's also a steady preference for wicker and/or rattan, the oldest in terms of material choice. According to the report, consumers like wicker because of its elegance and fine design and believe that rattan is eco-friendly and natural.
Nevertheless, high-quality outdoor furniture is expected to stay extremely competitive in coming years, as the market is expected to be swamped with new product innovation and ever-more sophisticated styles. Homeowners see outdoor furniture as a statement about style, rather than a necessity. As the report puts it, "Affluent households consider outdoor furniture as a symbolic representation of their wealth, affluence and social status in the community, and in this regard increasingly opt for high-end alternatives."
(photo: Wicker lookalike by Interieurs)
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