Outdoor Furniture: A US Market Report
San Jose, California (PRWEB) October 30, 2008
The US outdoor furniture market stands enthused by the rapidly changing lifestyle trends in favor of greater outdoor indulgence. With family life steadily extending beyond the four walls of a closed home, the business case for outdoor furniture is expected to become stronger, and more lucrative. Rising penchant among homeowners to entertain guests outdoors is leading to increased number and frequency of outdoor parties, barbeques, high tea, and lawn picnics. This is leading to increased demand for outdoor gas grills, outdoor fireplace, decorative patio umbrellas, poolside chairs, tables and recliners, among several others. As an extension of one's living space, the outdoors are being furnished with great care and high style. Being perceived as a style statement than a necessity, outdoor furniture market is expected to be influenced largely by innovations in styles, colors and designs. Technology innovations in weather resistant materials, and furniture fabrics, which extend product durability, are also forecasted to drive demand for outdoor furniture. Exquisite fabrics, which are resistant to mold, mildew, and the sun are prompting an increasing number of consumers to invest in classy outdoor furniture, a purchase decision, which was hitherto bogged down by durability and replacement cost related issues.
Metal outdoor furniture market in the US is estimated to reach US$3 billion by 2010, as stated by Global Industry Analysts, Inc. Wicker/Rattan outdoor furniture market in the US is projected to follow a CAGR of 4.6% during the period 2000-2010.
Being a symbolic representation of wealth, affluence and social status, romantically lighted, flower-twined patios and gardens with elegant settees, ottomans, garden recliners, and warm outdoor fireplaces are just the right indications of sophisticated living. Driven by the rise in replacement purchases, lucrative market opportunities are expected to emerge in the high-end market, as households that already own outdoor furniture make a change over to better quality and stylish products. With outdoor furniture contributing towards the overall appreciation in the resale value of a home, even average income households are beginning to invest in outdoor furniture. This marks the beginning of a trend where outdoor furnishing is no longer resorted to by just the rich, famous and the wealthy living in weather-perfect geographical areas. Business opportunities are therefore forecasted to shift from the premium strata of the market to the mass-market. Widespread product awareness brought about by TV home makeover shows, advertising blitzes, and lifestyle magazines, is expected to help outdoor furniture achieve deeper market penetration in the upcoming years. The affluence of the aging baby boomers, and the generation X homeowners are expected to bode well for the market. For instance, departure of adult children from home translates into higher disposable income among the empty nesters, thereby leading to increased expenditures on outdoor lifestyles.
Major market participants profiled include Casual Living, Creative Woodwork International Inc., Gibraltar Furniture, Grosfillex North America, Hanamint Corp., Homecrest Industries Inc., Kingsley-Bate Ltd., Leisure Furniture & Powdercoating Inc., Lloyd Flanders Industries Inc., Mallin Casual Furniture, Meadowcraft Inc., Modern Outdoor, O.W. Lee Company Inc., and The Coleman Company Inc.
The report titled "Outdoor Furniture: A US Market Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, product profile, players, recent developments, mergers, acquisitions, and other strategic industry activities. Analysis is presented in terms of value sales for the United States market for the period 2000-2015. Analytics are presented by the following material type- Metal, Plastic/Resin, Wicker/Rattan, Wood and Others.
For more details about this research report, please visit http://www.strategyr.com/Outdoor_Furniture_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
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