Outdoor Furniture - NAFTA

NAFTA

Highlights

In 2024, the revenue generated in the Outdoor Furniture market in NAFTA amounted to a staggering US$20.22bn.
According to market projections, this sector is expected to experience an annual growth rate of 3.46% (CAGR 2024-2029).
When compared globally, United States takes the lead in terms of revenue generation, with a substantial amount of US$18bn in 2024.
Furthermore, when considering the population figures, the per person revenues in 2024 amounted to US$39.62.
This figure highlights the significant economic impact of the Outdoor Furniture market within the NAFTA region.
The outdoor furniture market in the NAFTA region is experiencing a surge in demand due to the growing popularity of outdoor living spaces in both the United States and Canada.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Outdoor Furniture market in nafta has been experiencing significant growth in recent years. Customer preferences for outdoor living and the increasing popularity of outdoor activities have been driving this trend. Additionally, local special circumstances and underlying macroeconomic factors have also contributed to the development of the market.

Customer preferences: in the Outdoor Furniture market in nafta have been shifting towards creating outdoor living spaces that are both functional and aesthetically pleasing. Consumers are increasingly looking for furniture that can withstand various weather conditions and require minimal maintenance. This has led to a rise in demand for durable materials such as aluminum, teak, and synthetic wicker. Additionally, there has been a growing interest in modular and multi-functional outdoor furniture that can be easily rearranged to accommodate different activities and gatherings. Trends in the market indicate a growing demand for environmentally friendly outdoor furniture. Consumers are becoming more conscious of the environmental impact of their purchases and are seeking out sustainable options. This has led to an increase in the use of recycled materials and the adoption of eco-friendly production processes in the industry. Furthermore, there is a growing trend towards customization, with consumers looking for unique and personalized outdoor furniture that reflects their individual style and preferences.

Local special circumstances: in nafta countries have also influenced the development of the Outdoor Furniture market. For example, the United States has a large population of homeowners with spacious outdoor areas, which has created a strong demand for outdoor furniture. Similarly, canada's long summers and outdoor-oriented lifestyle have contributed to the growth of the market in the country. In Mexico, the popularity of outdoor dining and entertainment has driven the demand for outdoor furniture in the hospitality sector.

Underlying macroeconomic factors: have played a significant role in the development of the Outdoor Furniture market in nafta. The steady economic growth in the region has increased disposable incomes, allowing consumers to invest in outdoor furniture and upgrade their outdoor spaces. Additionally, the growth of the housing market and the increasing number of new construction projects have created a demand for outdoor furniture among homeowners and property developers. In conclusion, the Outdoor Furniture market in nafta is experiencing growth due to customer preferences for outdoor living, the adoption of environmentally friendly practices, local special circumstances, and underlying macroeconomic factors. As consumers continue to prioritize outdoor experiences and seek out sustainable and customizable options, the market is expected to further expand in the coming years.

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.