The outdoor furniture and grill market includes products such as tables, chair sets, sofas, dining sets, loungers and accessories that are used for outdoor décor and recreational activities. Outdoor furniture finds applications in residential as well as commercial settings such as hospitality industry. Meanwhile, grills are used for outdoor cooking and come in various fuel types including gas, charcoal and electric.
The outdoor furniture and grill market is estimated to be valued at US$ 48.93 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing preference for outdoor recreational activities and entertainment is a key driver for outdoor furniture and grill market. Rising disposable income coupled with increasing spending on outdoor living and décor is boosting the demand for both furniture and grills. Furthermore, innovation and product development is another factor fueling the market growth. Manufacturers are focusing on developing multi-functional, durable and aesthetic outdoor furniture sets as well as technologically advanced grills with smart features. Meanwhile, rising health consciousness is driving consumers towards outdoor activities such as barbeque, which in turn is augmenting the sales of grills.

SWOT Analysis

Strength: The outdoor furniture and grill market has high customer demand as outdoor activities gain more popularity. Manufacturers offer innovative designs and durable materials to withstand weather elements. Established brands have strong reputation and loyal customer base.

Weakness: Outdoor furniture is prone to damage from weather over time. Some materials used for outdoor grill require regular maintenance.

Opportunity: Emerging trend of outdoor living and spending more time with family/friends outdoors presents new opportunities. Growing consumer preference for eco-friendly and sustainable outdoor products.

Threats: Volatility in raw material prices can impact product costs. Intense competition among existing players and new entrants.

Key Takeaways:

The global outdoor furniture and grill market is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing consumer preference for luxury and premium outdoor living experience. Major players are launching innovative, modular, and lightweight collections made of durable materials like teak, aluminium to cater to rising demand.

Regional analysis - North America dominates the global outdoor furniture and grill market currently. However, Asia Pacific is expected to grow at the fastest pace during the forecast period due to growing outdoor living trend in China, India and other developing countries. Furthermore, increasing spending power and presence of major players are augmenting the market growth.

Key players operating in the outdoor furniture and grill market are Agio International Co., Inc., Homecrest Outdoor Living, LLC, Brown Jordan International Inc., Century Furniture LLC, Craftmade International Inc., Brown Jordan International Inc., Unaka Corporation, Weber-Stephen Products LLC, Keter Plastic Ltd., and Tropitone Furniture Co Inc. Major companies are focusing on new product launches and expansion strategies to strengthen their market position.