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Dec 8, 2023

Steady growth forecast for outdoor décor market

The global outdoor decor market size was valued at $83 billion in 2022, and is projected to reach $117.7 billion by 2032, growing at a compound annual growth rate (CAGR) of 3.5 percent from 2023 to 2032, says a report from Allied Market Research. Consumers are increasingly interested in products made from recycled or renewable materials, as well as those designed with minimal environmental impact in mind, owing to the growth in emphasis on sustainable and eco-friendly outdoor décor. Eco-conscious decor items, such as reclaimed wood furniture, solar-powered lighting, and planters made from recycled materials, have gained popularity. In addition, consumers are investing in outdoor décor elements that create cozy and functional living areas, such as outdoor rugs, weather-resistant seating, and weatherproof lighting. 


Based on product, the furniture segment held the highest market share in 2022, accounting for more than one-fifth of the global outdoor décor market revenue and is estimated to maintain its leadership status throughout the forecast period. In response to consumer demand, market participants have introduced outdoor furniture with novel designs and aesthetics.  


The specialty store segment held the highest market share in 2022, accounting for half of the global outdoor décor market revenue and is estimated to maintain its leadership status throughout the forecast period. As customers prefer to examine and evaluate things before making a purchase, specialty stores are selling more outdoor decor items at retail. Customers often inspect the store's assortment of colours, quality, and durability along with evaluating the accessories that fit them

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