Outdoor furniture and grill products include outdoor seating, tables, patio heaters, wood-burning fire pits, grills and smokers. They are designed for residential and commercial use in outdoor spaces like patios, gardens or pool areas. Outdoor furniture provides durability, comfort and style to enhance outdoor living and entertaining spaces. Grills allow people to cook and socialize outdoors, adding ambience and convenience.
 

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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving growth in the outdoor furniture and grill market is the increasing trend towards outdoor living and lifestyle. With rising disposable incomes and hectic work schedules, consumers are seeking ways to spend more leisure time outdoors with family and friends. This has increased demand for luxurious and functional outdoor spaces equipped with quality furniture, lighting and grilling appliances. Manufacturers are innovating in terms of material, design and technology to provide outdoor products that improve the outdoor experience and encourage outdoor activities and socialization all year round.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate in the outdoor furniture and grill market due to high market growth and requirement of huge capital investment for production. However, new players can enter the market through strategic alliances.

Bargaining power of buyers: The bargaining power of buyers is high as the market has large number of buyers and products are differentiated. Buyers can easily switch to other brands based on price and quality.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials required for outdoor furniture and grills are commoditized. However, suppliers still have some control over prices.

Threat of new substitutes: Substitutes like indoor furniture pose low threat as outdoor furniture and grills offer unique outdoor usage and grilling experience.

Competitive rivalry: Intense due to presence of many regional and global brands.

SWOT Analysis

Strengths: Wide product range, innovative designs, brand recognition of key players like Weber.

Weaknesses: Seasonal demand, heavy reliance on discretionary spending, supply chain disruptions affect production.

Opportunities: Rising outdoor dining trend, increasing spending on outdoor recreation, growing urbanization widening market in developing regions.

Threats: Trade barriers, stringent regulations on usage of materials, increasing raw material costs.

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 outdoor activities and socialization. The market size for outdoor furniture and grill is anticipated to reach US$ 80.26 Bn by 2030 from US$ 48.93 Bn in 2023.

Regional analysis: North America dominates the global market currently due to rising outdoor living trend. However, Asia Pacific is expected to grow at fastest pace owing to increasing disposable income, warm weather conditions and rapid urbanization in countries like China and India providing thrust to outdoor recreation activities in the region.

Key players analysis: 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. Players focus on new product launches and strengthening distribution network to bolster market presence.