Despite challenges related to rising inflation and a return to pre-pandemic habits, The Freedonia Group projects sales and demand will remain above pre-pandemic levels for outdoor living products.
According to the Cleveland-based research group’s report, U.S. Outdoor Living Products 2023, the outdoor living segment has numerous opportunities to capture new demand and interest and overcome larger challenges related to cost and labor shortages.
“The outdoor living products industry is facing some challenges in 2023, but there are also a number of opportunities,” says Jennifer Mapes Christ, the manager of consumer research at The Freedonia Group. “Businesses that can address the needs of a changing customer base, making it easier and more fun to develop and maintain home outdoor spaces, will be prepared.”
According to The Freedonia Group, demand for outdoor living products is forecast to decline 5.1% to $41 billion in 2023. While demand will be lower than elevated 2022 levels, demand will exceed 2020 and pre-pandemic levels. However, near-term growth rates in several outdoor product segments will be challenged by growing price sensitivity among consumers who will continue to look for high-value solutions, not just low-cost products.
After a surge in DIY activity in the outdoor product segment driven by the pandemic and widespread availability of information, The Freedonia Group projects activity in the outdoor product segment will shift back toward professional services as consumers return to pre-pandemic habits. The research group forecasts consumers will increasingly favor sustainability in outdoor products, solutions that highlight indoor-outdoor living, smart technology, and items that promote convenience and ease of maintenance.
The Freedonia Group’s report provides segmented analysis on lawn and yard maintenance products; outdoor cooking, entertaining, and recreation products; gardening products; and outdoor design and landscape materials. Within each segment, the research group highlights key trends, consumer insights, and opportunities.