Global Outdoor Furniture Market (2018–2029)
In 2024, the global home furniture market is projected to expand by 3.6% to generate $765 billion in revenues. By 2029, projections estimate the market will be valued at $921.6 billion.
Within this expansive billion-dollar market is the outdoor furniture segment, which is also set to record rising annual sales. Let’s take a comprehensive look at the global outdoor furniture market, providing an overview from 2018 to 2029.
Global outdoor furniture industry revenues: table
|
Year |
Global outdoor furniture industry revenues |
Annual change |
|
2018 |
$41.9 billion |
|
|
2019 |
$42.6 billion |
+1.6% |
|
2020 |
$43.5 billion |
+2.1% |
|
2021 |
$48.4 billion |
+11.5% |
|
2022 |
$47.3 billion |
-2.3% |
|
2023 |
$50.4 billion |
+6.5% |
|
2024 |
$52.1 billion |
+3.4% |
|
2025 |
$54.0 billion |
+3.6% |
|
2026 |
$55.9 billion |
+3.7% |
|
2027 |
$58.0 billion |
+3.6% |
|
2028 |
$60.1 billion |
+3.6% |
|
2029 |
$62.2 billion |
+3.5% |
Performance of the global outdoor furniture market: 2018–2024
According to a recent analysis, revenues from the global outdoor furniture market are expected to hit $52.1 billion in 2024, following a 3.4% increase from the previous year. Despite the annual rise, it is a slowdown from the previous year’s 6.5% increase. The outdoor furniture market share also accounts for approximately 6.8% of the total home furniture market revenues this year.
The sector has charted significant growth in recent years. In 2018, revenues totaled $41.9 billion, before inching upward by 1.6% in 2019, to $42.6 billion. Growth continued in 2020 as revenues rose by 2.1%, to $43.5 billion. In 2021, the market expanded by 11.5%, the biggest annual increase expected between 2018 and 2029, to $48.4 billion. However, the momentum slowed, and 2022 saw a slight decline of 2.3%, to $47.3 billion. The industry bounced back in 2023 with a 6.5% increase, as revenues totaled $50.4 billion.
Forecast for the global outdoor furniture market: 2025–2029
Market analysts predict that annual global outdoor furniture market revenues will continue to reach record highs for at least five more years. From 2025 to 2029, sales are forecast to rise by an average of 3.6% per year, which will take revenues to $62.2 billion in 2029.
From 2018 to 2029, the global outdoor furniture industry is set to increase revenues by a total of 48.4% and at an average annual growth rate of 3.7%.