Global Luxury Outdoor Furniture Market Overview
As per MRFR analysis, the Luxury Outdoor Furniture Market Size was estimated at 7.51 (USD Billion) in 2022.The Luxury Outdoor Furniture Market Industry is expected to grow from 8.19(USD Billion) in 2023 to 17.8 (USD Billion) by 2032. The Luxury Outdoor Furniture Market CAGR (growth rate) is expected to be around 9.01% during the forecast period (2024 - 2032).
Key Luxury Outdoor Furniture Market Trends Highlighted
Luxury outdoor furniture has gained significant popularity in recent times, driven by the increasing disposable income and the growing trend of outdoor living. Key market drivers include rising consumer demand for comfortable and stylish outdoor spaces, the desire for luxurious and aesthetically pleasing surroundings, and advancements in materials and designs that enhance durability and weather resistance.The global market for luxury outdoor furniture is expected to continue expanding in the coming years, presenting numerous opportunities for market participants. The growing demand for outdoor living and entertaining spaces, the increasing popularity of high-end outdoor designs, and the emergence of sustainable and eco-friendly materials are creating new avenues for growth.Recent trends in the luxury outdoor furniture market include the increasing adoption of multifunctional furniture, the use of natural materials such as teak and wicker, and the incorporation of advanced technologies like built-in lighting and smart features. Customization and personalization are also gaining traction, allowing customers to tailor their outdoor furniture to their specific style and preferences.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Luxury Outdoor Furniture Market Drivers
Rising Disposable Income and Affluent Consumer Base
The growing affluence of consumers worldwide is a major driver of the Luxury Outdoor Furniture Market Industry. As disposable income increases, consumers are becoming more inclined to invest in high-end outdoor furniture that enhances their quality of life and creates a luxurious outdoor living space. This trend is particularly pronounced in emerging economies, where a rapidly expanding middle class is fueling demand for luxury goods. The increasing popularity of outdoor living and entertaining areas further contributes to the demand for premium outdoor furniture.Consumers are seeking stylish and comfortable furniture that complements their outdoor décor and provides a comfortable and inviting space for relaxation and socializing.
Technological Advancements and Innovation
Technological advancements are revolutionizing the Luxury Outdoor Furniture Market Industry. Manufacturers are constantly innovating to create furniture that is both aesthetically pleasing and functional. The use of advanced materials, such as weather-resistant fabrics and durable metals, ensures that furniture can withstand the elements and maintain its appearance over time. Smart technology is also being integrated into outdoor furniture, allowing consumers to control lighting, heating, and other features with ease.These innovations enhance the comfort, convenience, and overall experience of using luxury outdoor furniture.
Growing Popularity of Outdoor Living and Entertaining
The growing popularity of outdoor living and entertaining is a key driver of the Luxury Outdoor Furniture Market Industry. Consumers are increasingly spending time outdoors, creating a demand for comfortable and stylish furniture that enhances their outdoor experience. The trend towards staycations and backyard gatherings is further fueling the demand for high-quality outdoor furniture. As consumers seek to create a luxurious and inviting outdoor space, they are investing in furniture that reflects their personal style and provides a comfortable and functional living area.
Luxury Outdoor Furniture Market Segment Insights
Luxury Outdoor Furniture Market Material Insights
Material segment insights and overview Material is a crucial part of the Luxury Outdoor Furniture Market segmentation that stimulates the development of the market and shapes customers’ choices. Teak is one of the primary materials for luxury outdoor furniture. In this context, it is one of the most considerable revenue contributors in 2023 and is believed to continue in leading positions in the period to come. The popularity of teak is predetermined by its outstanding durability, natural resistance to weathering, and elegant texture. Rattan and wicker are other common natural materials popular in the luxury outdoor furniture industry due to elaborate weaving techniques, which create a luxurious bohemian touch.At the same time, those materials are often used in combination with other fabric types to contribute to the visual appeal of the furniture pieces. There are also new materials, such as aluminum and stainless steel, prevailing in the market due to their longevity, easy maintenance, and high capacity to withstand outdoor conditions. Synthetic fibers, such as polyethylene and polypropylene, provide the looks and texture of natural materials, but they are considered more durable and long-lasting due to the high resistance to weathering. Nonetheless, the potential of such materials is not yet fully realized, and they are believed to provide new perspectives for the development of the segment.In terms of market share, teak and aluminum are also expected to be the leading materials due to their high price and exceptional quality in the future and the period of forecast. New natural and synthetic materials are believed to change the situation in the long run due to the growing popularity of eco-friendly products.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Luxury Outdoor Furniture Market Style Insights
The Style segment plays a crucial role in shaping the Luxury Outdoor Furniture Market, offering diverse options to meet evolving consumer preferences. Contemporary designs, characterized by clean lines, sleek silhouettes, and neutral colors, dominate the market, capturing a significant share of Luxury Outdoor Furniture Market revenue. Traditional styles, inspired by classic European designs, feature intricate details, ornate embellishments, and warm hues. Modern styles prioritize functionality and minimalism, emphasizing geometric shapes, simple lines, and durable materials.Tropical styles evoke a sense of relaxation and escapism, incorporating natural elements such as bamboo, wicker, and lush fabrics. Art Deco styles exude glamour and sophistication, characterized by geometric patterns, bold colors, and metallic accents. Mediterranean styles draw inspiration from the coastal regions of Europe, featuring whitewashed finishes, terracotta accents, and intricate tilework. As consumers seek unique and personalized outdoor living experiences, the Style segment is expected to continue driving market growth through innovation and diversification.
Luxury Outdoor Furniture Market Function Insights
The function segment of the Luxury Outdoor Furniture Market is categorized into seating, dining, lounge, storage, fire pit, and lighting. Seating holds the largest market share due to the increasing demand for comfortable and stylish outdoor seating options. Dining segment is also witnessing significant growth, driven by the rising popularity of outdoor dining and entertaining areas. Lounge segment is expected to grow rapidly in the coming years, owing to the increasing trend of creating cozy and inviting outdoor living spaces. Storage segment is gaining traction as homeowners seek functional solutions to organize and store outdoor items.Fire pit segment is projected to experience steady growth, driven by the growing popularity of outdoor fireplaces and fire pits for warmth and ambiance. Lighting segment is expected to grow steadily, as outdoor lighting plays a crucial role in enhancing the aesthetic appeal and functionality of outdoor spaces.
Luxury Outdoor Furniture Market Price Range Insights
The price range segment of the Luxury Outdoor Furniture Market holds significant importance, with each price tier catering to specific customer preferences and budgets. The segment is categorized into various price ranges, including '$1,000-$5,000', '$5,000-$10,000', '$10,000-$20,000', '$20,000-$50,000', and '$50,000 and above'. Each price range offers a unique set of features, materials, and designs, influencing consumer purchasing decisions. Market data suggests that the '$10,000-$20,000' price range is projected to register a substantial growth rate during the forecast period, driven by increasing demand for premium outdoor furniture among affluent consumers.Furthermore, the '$50,000 and above' price range, which caters to ultra-luxury outdoor furniture, is anticipated to witness a steady growth rate due to the growing popularity of exclusive and customized outdoor living spaces.
Luxury Outdoor Furniture Market Regional Insights
The regional segmentation of the Luxury Outdoor Furniture Market offers valuable insights into the varying market dynamics and growth opportunities across different regions. North America is expected to dominate the market, accounting for a significant share in 2023 and continuing its dominance through 2032, driven by factors such as rising disposable income, increasing homeownership rates, and a growing demand for outdoor living spaces. Europe is projected to hold a substantial market share, with countries such as Germany, France, and the UK leading the regional growth.The Asia-Pacific (APAC) region is anticipated to witness significant growth over the forecast period, primarily due to the expanding middle class, urbanization, and rising consumer spending in countries such as China, India, and South Korea. South America and the Middle East and Africa (MEA) regions are expected to contribute to the overall market growth, fueled by increasing tourism and hospitality sectors and growing awareness of outdoor living trends.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Luxury Outdoor Furniture Market Key Players And Competitive Insights
Major players in Luxury Outdoor Furniture Market industry are constantly striving to gain a competitive edge. They are investing heavily in research and development to create innovative products that meet the evolving needs of consumers. Leading Luxury Outdoor Furniture Market players are also focusing on expanding their global reach through strategic partnerships and acquisitions. The Luxury Outdoor Furniture Market development is driven by the growing demand for luxury outdoor living spaces. Consumers are increasingly spending more time outdoors and are willing to invest in high-quality furniture that enhances their outdoor experience. The Luxury Outdoor Furniture Market Competitive Landscape is expected to remain competitive in the coming years, with new entrants and established players vying for market share.Among the leading players in the Luxury Outdoor Furniture Market, Dedon stands out as a pioneer in the industry. The company is known for its innovative designs and high-quality materials. Dedon's furniture is designed to withstand the elements and provide years of enjoyment. The company has a strong global presence and its products are sold in over 80 countries. Dedon's commitment to quality and innovation has earned it a reputation as one of the leading luxury outdoor furniture brands in the world.Another major player in the Luxury Outdoor Furniture Market is Gloster. The company is known for its classic designs and use of premium materials. Gloster's furniture is designed to create a sophisticated and inviting outdoor space. The company has a global presence and its products are sold in over 70 countries. Gloster's focus on quality and design has made it a favorite among luxury homeowners and designers.
Key Companies in the Luxury Outdoor Furniture Market Include
- Gloster
- Royal Botania
- Harbour Outdoors
- JANUS et Cie
- Ebel
- Kettal
- Manutti
- Tribu
- Restoration Hardware
- Tuuci
- Dedon
- Sutherland Furniture
- Brown JordannuparaBarlow Tyrie
Luxury Outdoor Furniture Market Industry Developments
The Luxury Outdoor Furniture Market is expected to grow from USD 8.19 billion in 2023 to USD 17.8 billion by 2032, exhibiting a CAGR of 9.01% during the forecast period. The market growth is attributed to rising disposable income, increasing urbanization, and growing demand for outdoor living spaces.Recent news developments in the market include In March 2023, TeakWorks, a leading manufacturer of luxury outdoor furniture, launched its new collection featuring sustainable and eco-friendly materials. In May 2023, Restoration Hardware expanded its outdoor furniture offerings with the launch of a new line inspired by classic European designs. In July 2023, IKEA introduced a new range of affordable luxury outdoor furniture made from recycled materials.These developments indicate the growing demand for sustainable and stylish luxury outdoor furniture, which is expected to drive market growth in the coming years.
Luxury Outdoor Furniture Market Segmentation Insights
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Luxury Outdoor Furniture Market Material Outlook
- Teak
- Rattan
- Wicker
- Aluminum
- Stainless Steel
- Synthetic Fiber
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Luxury Outdoor Furniture Market Style Outlook
- Contemporary
- Traditional
- Modern
- Tropical
- Art Deco
- Mediterranean
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Luxury Outdoor Furniture Market Function Outlook
- Seating
- Dining
- Lounge
- Storage
- Fire Pit
- Lighting
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Luxury Outdoor Furniture Market Price Range Outlook
- $1,000-$5,000
- $5,000-$10,000
- $10,000-$20,000
- $20,000-$50,000
- $50,000 and above
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Luxury Outdoor Furniture Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
7.51(USD Billion) |
| Market Size 2023 |
8.19(USD Billion) |
| Market Size 2032 |
17.8(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
9.01% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Gloster ,Royal Botania ,Harbour Outdoors ,JANUS et Cie ,Ebel ,Kettal ,Manutti ,Tribu ,Restoration Hardware ,Tuuci ,Dedon ,Sutherland Furniture ,Brown JordannuparaBarlow Tyrie |
| Segments Covered |
Material ,Style ,Function ,Price Range ,Regional |
| Key Market Opportunities |
Growing popularity of outdoor living spaces Affluent consumer base Increasing demand for sustainable furniture Integration of technology and smart features Expansion into emerging markets |
| Key Market Dynamics |
Rising consumer spending growing urbanization increasing disposable income |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Luxury Outdoor Furniture Market is expected to reach a valuation of approximately USD 8.19 billion in 2023.
The Luxury Outdoor Furniture Market is anticipated to exhibit a robust CAGR of approximately 9.01% over the forecast period from 2023 to 2032.
North America is anticipated to dominate the Luxury Outdoor Furniture Market by 2032, accounting for a significant market share. The region's high disposable income, growing demand for outdoor living spaces, and presence of key market players contribute to its dominance.
Luxury outdoor furniture finds applications in various settings, including residential properties, commercial establishments like hotels and resorts, and public spaces such as parks and gardens.
Key players in the Luxury Outdoor Furniture Market include Brown Jordan International, Dedon, Gloster Furniture, Kettal, and Tribu.
The growth of the Luxury Outdoor Furniture Market is primarily attributed to factors such as rising disposable income, increasing consumer preference for luxurious outdoor living spaces, and growing urbanization.
The Luxury Outdoor Furniture Market faces challenges such as intense competition, fluctuations in raw material prices, and seasonality in demand.
Emerging trends in the Luxury Outdoor Furniture Market include a shift towards sustainable materials, integration of technology, and customization to cater to individual preferences.
The Luxury Outdoor Furniture Market is projected to reach a valuation of approximately USD 17.8 billion by 2032, exhibiting a significant growth trajectory.
The residential application segment is anticipated to contribute the largest revenue share to the Luxury Outdoor Furniture Market by 2032, driven by the increasing demand for luxurious outdoor living spaces in homes.
