Outdoor Furniture - Nordics

Nordics

Highlights

In 2024, the revenue generated in the Outdoor Furniture market in Nordics amounts to US$1.70bn.
This market is projected to experience an annual growth rate of 3.73% (CAGR 2024-2029).
When compared on a global scale, United States leads in revenue generation with US$18bn in 2024.
Furthermore, in terms of per person revenues, the Nordics generates US$60.52 in 2024.
In the Nordic region, the outdoor furniture market is experiencing a surge in demand for sustainably sourced and weather-resistant materials.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Outdoor Furniture market in Nordics is experiencing steady growth due to several factors, including changing customer preferences and underlying macroeconomic factors.

Customer preferences: in the Nordics have shifted towards outdoor living and spending more time in nature. This has led to an increased demand for outdoor furniture that is both stylish and functional. Customers are seeking furniture that can withstand the region's harsh weather conditions, such as rain and snow, while still providing comfort and aesthetic appeal. Additionally, there is a growing interest in sustainable and eco-friendly products, with customers looking for furniture made from recycled materials or sourced from sustainable forests. Trends in the market reflect these customer preferences. There is a rise in the popularity of outdoor furniture sets that include sofas, dining tables, and loungers, allowing customers to create a cohesive and comfortable outdoor living space. Modular furniture designs are also gaining traction, as they offer flexibility and can be easily rearranged to suit different occasions or spaces. In terms of materials, there is a growing demand for weather-resistant materials such as teak, aluminum, and synthetic wicker. These materials are durable and require minimal maintenance, making them ideal for the Nordic climate. Local special circumstances in the Nordics also contribute to the development of the Outdoor Furniture market. The region's long and cold winters mean that customers have a limited time to enjoy outdoor spaces, leading to a higher demand for durable and weather-resistant furniture that can withstand the elements. Additionally, the Nordics have a strong outdoor culture, with activities such as hiking, camping, and barbecuing being popular among residents. This further drives the demand for outdoor furniture that can enhance these outdoor experiences.

Underlying macroeconomic factors: also play a role in the growth of the Outdoor Furniture market in the Nordics. The region has a high standard of living and disposable income, allowing customers to invest in high-quality outdoor furniture. Additionally, the tourism industry in the Nordics is booming, with visitors from around the world coming to experience the region's natural beauty. This creates a demand for outdoor furniture in hotels, resorts, and other hospitality establishments. In conclusion, the Outdoor Furniture market in the Nordics is developing in response to changing customer preferences,

Local special circumstances: and underlying macroeconomic factors. Customers are seeking durable, stylish, and sustainable outdoor furniture that can withstand the region's harsh weather conditions. The market is witnessing trends such as outdoor furniture sets and modular designs, as well as a preference for weather-resistant materials. The region's outdoor culture and high disposable income further drive the demand for outdoor furniture. Overall, the market is expected to continue growing as customers prioritize outdoor living and spending time in nature.

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.