The Freedonia Group, a leading provider of market research and consulting services, today launched its new report, “
US Outdoor Living Products 2023
.” The report provides an in-depth analysis of the US outdoor living products industry, including market size, trends, and opportunities.
Demand for outdoor living products in the United States was $43 billion in 2022. While revenue is expected to dip in 2023, this is due to the very high base year of 2020. Even with this dip, sales in 2023 will still be above pre-pandemic levels, reflecting the expansion of the customer base and their continued engagement in outdoor living and investments in their outdoor spaces at home.
However, the industry is facing a number of challenges:
- Rising Inflation -- The rising cost of goods and services is impacting all industries, including the outdoor living products industry. This is leading to higher prices for consumers, which could dampen demand.
- Return to Pre-Pandemic Habits -- As the COVID-19 pandemic subsides, some consumers are returning to pre-pandemic habits, such as dining out and traveling. This could lead to a decline in demand for outdoor living products, as consumers spend their disposable income on other things.
- Shortage of Professional Landscape Workers -- The shortage of professional landscape workers is another challenge facing the outdoor living products industry. This is making it difficult for businesses to install and maintain outdoor living products, which could lead to delays and cancellations.
Despite these challenges, the outdoor living products industry is expected to remain a growth industry in the years to come. The continued expansion of the customer base, inspiration from TikTok and Instagram influencers, and the growing popularity of outdoor living will help to offset the challenges facing the industry. The report also finds that there are a number of opportunities for businesses in the outdoor living products industry. These opportunities include:
- Value, not just a low price
- Focusing on sustainable products
- Integrating indoor and outdoor spaces
- Using smart technology and automation
- Making outdoor maintenance work easier or more convenient
“The outdoor living products industry is facing some challenges in 2023, but there are also a number of opportunities,” said Jennifer Mapes-Christ, Manager of Consumer Research at Freedonia Group. “Businesses that can address the needs of the changing customer base, making it easier and more fun to develop and maintain home outdoor spaces will be prepared.”
The report includes a detailed analysis of the following segments of the outdoor living products industry:
- Lawn & Yard Maintenance
- Outdoor Cooking, Entertaining, & Recreation
- Outdoor Design & Landscape Materials
Within each of those segments, the report discusses key trends, analyzes data-driven consumer insights, presents near-term forecasting and analysis, and highlights top opportunities.
The study also identifies the most popular consumer trends and analyzes data-driven insights into consumer behavior, from psychographics to habits. This information comes from two sources: The Freedonia Group National Online Consumer Survey (a proprietary national survey conducted quarterly) and syndicated consumer research data. The data is then cross-tabulated by key demographic segments, including gender, age group, urban vs. rural setting, region, type of housing, and the presence of children under 18 at home.
About The Freedonia Group
The Freedonia Group, a division of MarketResearch.com, is a premier international business research company, providing clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. The Freedonia Group’s brands also include Packaged Facts, a trusted provider of consumer market research on food & beverage, pet products and services, demographics, and financial services, and Simba Information, the leading authority for market intelligence and forecasts on the education and professional publishing industries. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.