Dublin, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The "Sun Lounger Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts - 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.
The sun lounger market is set to grow at a 5% CAGR from 2023-2031, primarily driven by rising popularity in outdoor recreation and a trend towards luxurious outdoor spaces. These loungers, varying from adjustable, reclining, folding to multi-position, offer a unique blend of comfort and outdoor relaxation. While wood, metal, rattan, and plastic are popular materials, the choice ultimately hinges on aesthetic and weather resistance requirements. Two major growth drivers are the increasing investment in outdoor living spaces and the growing hospitality sector.
Key Insights:
- Outdoor Recreation and Leisure Activities: More people are partaking in outdoor activities, from sunbathing and swimming to leisure time. The primary driving force is a blend of relaxation, wellness, and nature enjoyment.
- Tourism and Hospitality Surge: The hospitality sector’s expansion, especially hotels and resorts, is adding to the sun lounger's popularity. These establishments prioritize comfortable and aesthetic outdoor areas, significantly contributing to the lounger market growth.
- Outdoor Living Spaces Emphasis: As outdoor spaces transform into extensions of indoor living areas, the demand for sun loungers intensifies. They not only offer comfort but also augment the overall aesthetic appeal of the area.
- Urban Living Challenges: Densely populated cities pose a challenge to the sun lounger market. Limited outdoor space and strict city regulations limit their installation and use. However, the industry is responding with innovative, space-saving designs.
- Market by Type: While fixed sun loungers are a favorite, foldable variants are growing in popularity. They cater to those with space constraints or frequent travelers. Their versatility and convenience make them an appealing choice.
- End-User Dynamics: The residential segment dominated the market in 2022. However, commercial segments, such as hotels and resorts, are expected to register higher growth in the coming years.
- Regional Overview: North America leads the global market due to its outdoor-centric lifestyle and robust hospitality sector. Europe closely follows, with Asia Pacific being the fastest-growing region, driven by increasing urbanization and tourism.
- Competitive Landscape: The market is competitive with players like Keter Group, Tropitone Furniture Co. Inc., Grosfillex, and Jensen Leisure Furniture making significant contributions. Strategies to stay ahead include product innovation, expanding product portfolios, and forging strategic partnerships.
Conclusion:
The sun lounger market is poised for growth, fueled by a global inclination towards outdoor recreation and enhanced living spaces. While urban constraints pose challenges, innovative designs and growing tourism and hospitality sectors offer ample opportunities. Players in the market need to remain agile, innovative, and responsive to consumer demands to capture a significant market share in the forecasted period.
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Sun Lounger market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2031.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Sun Lounger market?
- Which is the largest regional market for Sun Lounger market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Sun Lounger market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Sun Lounger market worldwide?
Companies Mentioned
- Keter Group
- Tropitone Furniture Co. Inc.
- Grosfillex
- Jensen Leisure Furniture
For more information about this report visit https://www.researchandmarkets.com/r/rjzg7h
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