In a recent research report by Market Research Community, the Outdoor Benches market is expected to surpass USD 11,137.63 Million by the year 2030, from USD 7,211.16 Million in 2021.
Outdoor benches are a great addition to any outdoor space, providing a comfortable place to sit and relax. They can be made of a variety of materials, including wood, metal, and plastic, and come in a range of styles to suit any decor. Some outdoor benches also have features such as built-in storage, backrests, and armrests for added comfort. These benches are perfect for gardens, patios, decks, and other outdoor areas, and are a great way to enhance the look and feel of your outdoor space.
By distribution channel, offline segment is estimated to grow at a highest CAGR of 5.2% during the forecast period. The offline distribution channel involves the distribution of outdoor benches from the bench manufacturers to the end-users directly or indirectly through offline distributors including hypermarkets/supermarkets, departmental stores, wholesale stores, and more.
The key factors promoting the growth of the offline distribution channel for outdoor benches include higher credibility, ease of customization as per the target market, strong customer base along with excellent growth prospects.
For instance, in November 2021, IKEA, one of the leading retailers of outdoor benches, launched its new offline store in the Philippines. The development of the new 730,000-square-foot offline store in the Philippines was a part of the company’s expansion strategy in the ASEAN region. Similarly, in August 2022, IKEA launched its first offline store in Latin America in Chile. The company also plans to open its second offline store in Santiago, Chile in the upcoming years. Hence, the increasing development of offline stores for the distribution of outdoor benches in the ASEAN, Latin America, and North American regions is anticipated to boost the growth of the market during the forecast period.
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Asia-Pacific region is expected to witness a significant CAGR growth of 5.5% during the forecast period. The rapid pace of industrialization, development, and globalization in the ASEAN countries is creating lucrative opportunities for the growth of the market in the region. Moreover, the rising building & construction projects, and increasing tourism in countries including Malaysia, Thailand, Indonesia, and Singapore, are the primary factors fostering the market growth for outdoor benches in the region.
In January 2022, the development of Andaz Hotel, a luxury hotel brand under the Hyatt group, commenced in Bangkok, Thailand. The new hotel is scheduled to be operational by 2023. Additionally, according to the Tourism Authority of Thailand Newsroom, Thailand witnessed the arrival of over 7 million international tourists from January to October 2022, a significant increase from 427 thousand in 2021.
The study is consolidated into major segments and further into sub-segments, such as by bench type (metal, wood, resin and plastic, others), by price (low (below USD 100), medium (USD 200 – 750), high (more than USD 750)), by application (residential and commercial), By distribution channel (online and offline) to forecast the market size by value; also includes the analysis of past market dynamics from 2016 – 2021, considering 2021 as the base year.
Key Players
- Brown Jordan
- Steelcase Inc.
- Roda Srl
- Patio Furniture Industries Inc.
- Haworth Inc.
- Hartman UK Ltd.
- Dedon
- Century Furniture
- B&B Italia SpA
- Ashley Furniture Industries
- AIMCO
- Cabana Coast
- Herman Miller Inc.
- Unopiu
- Royal Botania NV
Segments:
By Bench Type
- Wood
- Resin and Plastic
- Metal
- Others
By Price
- Low (Below USD 100)
- Medium (USD 200 – 750)
- High (More than USD 750)
By Distribution Channel
- Online
- Offline
By Application
- Residential
- Commercial         Â
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Global Outdoor Benches Market by Region (%), 2021
Region
North America– (U.S., Canada, Mexico)
Europe– (Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe)
Asia Pacific– (China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific)
Latin America– (Brazil, Argentina, Chile, Rest of Latin America)
Middle East and Africa– (GCC, Turkey, South Africa, and the Rest of MEA)
The market is highly competitive, companies may have to work harder to differentiate their products or services and attract customers. Another way companies can achieve market growth is through strategic partnerships and collaborations with other companies or organizations. Market growth is an important factor for companies to consider as they seek to increase their profits and expand their operations. By understanding the factors that influence market growth and implementing strategies to achieve growth, companies can position themselves for success in their respective markets.
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