PUBLISHER: Allied Market Research | PRODUCT CODE: 1414856
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414856
According to a new report published by Allied Market Research, titled, "Outdoor Decor Market," The outdoor decor market was valued at $83 billion in 2022, and is estimated to reach $117.7 billion by 2032, growing at a CAGR of 3.5% from 2023 to 2032.
A wide range of design components, items, and accessories are referred to as "outdoor decor" when they are particularly created to improve the aesthetic value, usability, and general ambiance of outside areas like lawns, outdoor terraces, porches, or any other outdoor living space. It covers a wide variety of products, such as
1) but not restricted to outdoor fabrics, lighting accessories, garden ornaments, and numerous outdoor accessories.
Global consumers are actively looking for outdoor decor products that improve the environment of the outdoor areas and reflect their beliefs regarding sustainability and eco-friendliness as they become more environmentally concerned. This pattern reflects a more general change in society towards ethical purchasing and minimizing negative environmental effects. A broad variety of sustainable and environmentally friendly outdoor decor solutions are being offered by manufacturers and merchants in response to this demand, including furniture built from reused components, harmless paints & finishes, and decor manufactured from renewable resources. Sustainability is propelling market growth as it emerges as a crucial factor in purchasing decisions by fostering new consumer groups and fostering a sense of accountability in the decisions of consumers to make their environment safe. The popularity of these eco-friendly decor options highlights the growing acceptability of eco-friendly products in the marketplace for outdoor decor.
Governments all around the globe are placing more and more emphasis on sustainability and environmental friendliness, which has led to strict norms and requirements for the manufacturing of consumer goods. These rules cover the use of eco-friendly materials, limitations on certain compounds, and specifications for production procedures that have an impact on both the environment and on biodiversity. Although these rules are unquestionably crucial for minimizing environmental impact and protecting the health of ecological systems they can present difficulties for businesses who provide outdoor furniture and accessories.
Conforming to these rules frequently calls for modifications to manufacturing processes, material procurement, and design of products, which can raise production costs. These expenses could be passed on to customers, raising the price of eco-friendly outdoor design items. In conclusion, the government's stringent environmental laws for the production of outdoor design goods are posing a substantial development barrier for the industry.
Consumers are increasingly seeking to extend these advantages to their outdoor spaces due to the development of advanced technology and the growing need for connectivity and ease. Products with integrated technology, such as
1) lighting, watering systems, outdoor sound systems, and furnishings, are included in the category of "smart outdoor decor."
These items may all be operated remotely via smartphones or other devices. This gives outdoor areas better control and efficiency while also improving their beauty and use. Smart watering systems, for instance, are capable of tracking weather conditions and improving water use, while smart lighting may be changed for various situations or controlled for energy savings. Customers are drawn to the ease of use and adaptability of such items, and as a result, are prepared to spend money on these cutting-edge solutions. Smart outdoor decor creates new revenue streams for vendors and companies in the outdoor decor sector, fostering competition and innovation. The development of smart outdoor decor is creating a significant chance for expansion for the industry.
The outdoor decor market is analyzed on the basis of product, end user, distribution channel and region. On the basis of product, the market is divided into furniture, flower pots & planters, rugs & cushions, lighting, patio umbrellas and shade structures, water features, and others. On the basis of end user, the market is fragmented into residential and non-residential. On the basis of distribution channel, the market is categorized into supermarket & hypermarket, specialty stores, E-commerce and others. On the basis of region, the market is divided into North America, Europe, Asia-Pacific, and LAMEA.
Players operating in the outdoor decor market have adopted various developmental strategies to expand their outdoor decor market share, increase profitability, and remain competitive in the market. The major players analyzed for the outdoor decor market are Elho B.V., Net Retailers, LLC, Frontgate, The Home Depot, Inc., Inter IKEA Holding B.V., Renson, Kimball International Inc., Walmart Inc, Ashley Furniture Industries, LLC, and Wayfair Inc.
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