As the pool and spa industries grow (check out 3 Keys to Pool & Spa Industry Growth and The Hot Tub Market is Projected to Reach a Full Boil), we wanted to explore adjacent growth in the outdoor furniture and grills.
Driving factors in the outdoor furniture and grill markets
The global outdoor furniture and grills market is projected to grow to over $66 billion by 2028, according to Fortune Business Insights. The COVID-19 pandemic made stay-at-home commonplace. This solitary pandemic living turned outdoor spaces into precious amenities for homeowners. It increased the number of outdoor recreational activities, resulting in growing sales in both the outdoor and grilling markets. Since July 2020, more than 21 million grills and smokers were purchased by U.S. consumers, according to data from NPD. The outdoor cooking industry's revenue grew to $6.1 billion in sales in 2021, a 14% year-over-year growth. An estimated 70% of U.S. households now own at least one grill or smoker, according to consumer research from the Hearth, Patio & Barbecue Association (HPBA)—the highest the industry group has ever seen, according to its CEO and president Jack Goldman.
A marked rise in preference for outdoor furniture in the residential segment fueled the revenue prospect in the outdoor furniture and grill market. Additionally, expanding the production line broadened the horizon of these industries. Growing demand for garden furniture is also boosting the sales of grill products. Consumers are increasingly interested in garden furnishings that provide a soothing and comfortable environment for social gatherings. Garden sofas, for example, are designed to adapt to the natural surroundings and external influences of weather conditions.
Top outdoor furniture and grill market players
Some of the top outdoor furniture and grill market players are IKEA, Brown Jordan, Keter, Weber, Meco and Homecrest Outdoor Living. A common theme for these companies is the focus on launching innovative and technologically effective solutions that attract customers while expanding business portfolios.
With these insights, what are you waiting for? Suggest a renovation or addition to your clients' outdoor areas to increase your company's profits and broaden your portfolio.