Study #: 3723 | Published: 09/2019 | Pages: 169 | Individual User License: US$ 3,900

US demand for outdoor storage products is forecast to rise 3.8% annually to $1.6 billion in 2023. Gains will reflect continued consumer spending on home repairs and renovations, which will correspond with an increasing need for storage products outside of the home. Demand for outdoor storage products will also be supported by:

  • consumers’ ongoing accumulation of possessions, which can be stored in outdoor sheds once basements and garages are full
  • continuation of the outdoor living trend in which indoor style living spaces are installed outside the home
  • continued active lifestyles that require gear (e.g., bicycles, skis, camping equipment) and a place store it
  • the popularity of gardening and consumers’ penchant for maintaining their lawns

Key Findings in the Sheds & Other Residential Outdoor Storage Study:

Customization & Alternative Uses for Sheds Represent Opportunities for Suppliers

Consumers expect durability, functionality, convenience and ease-of-use, aesthetics, and customization from outdoor storage products. It is important for suppliers to take advantage of opportunities for value-added products and market expansion. For instance, suppliers should:

  • continue to expand offerings and promote alternative uses for sheds beyond storage, such as retreats (“man caves”, “she sheds”), pool houses, hobby rooms, workspaces, offices, and garden space
  • create affordable products for people living in smaller spaces, including urbanites and millennials, that maximize storage using the least amount of space
  • continue development of customizable and specialized products that serve specific needs; such as for bikes, garbage/recycling, and firewood

E-Commerce Helping Drive Sales of Outdoor Storage

E-commerce is the fastest growing distribution channel for outdoor storage products as consumers increasingly shop and order online due to convenience and wide product selection. Outdoor storage products can be ordered online and delivered, but they can also be ordered online and picked up in-store – often known as the “bricks and clicks” or BOPIS (buy online pickup in store) model.

Sheds that require installation – typically wood models that are often sold directly to consumers by producers or through a dealer network– are also being sold online by manufacturers or retailers, allowing shoppers to research, design, order, and arrange for the delivery and installation of their shed.

Study Coverage

This Freedonia industry study analyzes the $1.3 billion US market for sheds and other outdoor storage products. It presents historical demand data (2008, 2013, and 2018) and forecasts for 2023 for outdoor sheds by material (wood, resin/plastic, metal, other) and for other products (e.g., deck boxes, bins, and totes; outdoor shelves; outdoor storage benches and cabinets). The report also evaluates the retail environment, with retail level sales for each product type. Retail level sales of sheds and other outdoor storage products are also broken out by type of retail outlet (e.g., direct sales and dealers, discount stores, e-commerce, hardware stores, home centers). Additionally, consumer insight trends are analyzed. Furthermore, the study evaluates company market share and competitive strategies, analyzing key industry competitors including Backyard Products, Keter Group, ShelterLogic, and Tuff Shed.


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Table of Contents

EXECUTIVE SUMMARY

OVERVIEW

Key Findings

Factors that Impact Sales of Outdoor Storage

Home Ownership Trends

Home Ownership vs. Rental Rates

Household Annual Income

Age Groups

Consumer Spending Trends

Size of Outdoor Lots

Home Improvement Trends

Prevalence of Outdoor Areas Among Housing Stock

Outdoor Living Trend Helps Shed & Storage Box Sales

Active Lifestyle Requires Gear

Rent-to-Own (RTO)

Site-Built Sheds

Local Building Codes & Homeowners' Associations Regulations

Self-Storage Market

Regional Sales Trends

Key Material Suppliers to Outdoor Storage Firms

CONSUMER INSIGHTS

Key Findings

Gardening as a Hobby

Alternative Uses for Sheds

She Sheds & Other Retreats

Pool Houses

Garden Preparation

Children's Playhouses

Outdoor Storage Needs Beyond the Garage

DIY vs. DIFM

Consumers' Efficiency & Organization

Millennials Moving Into Their First Homes

Consumer Purchase of Outdoor Storage

6% of Adults Bought Outdoor Storage in Last 12 Months

Storage Sheds & Deck Boxes Purchased Most Frequently

Storage Sheds, Deck Boxes, & Shelves Most Widely Purchased Products

Type of Outdoor Storage Purchased by Home Type

About 2% of Households Buy Sheds

Highest Percentage of Households Spend $1,000 or More on Sheds

PRODUCT TRENDS & FORECASTS

Key Findings

Outdoor Storage Products

Scope & Product Characteristics

Demand by Product

Outdoor Storage Sheds

Other Outdoor Storage Products

Outdoor Storage Products

Demand by Product

Wood Storage Sheds

Resin/Plastic Storage Sheds

Metal Storage Sheds

Other Storage Sheds (Vinyl & Fabric)

Deck Boxes, Bins, & Totes

Outdoor Shelves

Outdoor Storage Benches & Cabinets

Other Outdoor Storage

Key Product Trends

Durability & Functionality

Made in USA

Ease & Convenience

Small Space Storage

Aesthetics

Customization

Specialization

DISTRIBUTION & RETAILING

Key Findings

Retail Sales by Product

Distribution Outlets & Competitive Strategies

Demand by Outlet

Direct Sales & Dealers

Home Centers

E-Commerce

Discount Stores

Mass Merchandisers & Wholesale Clubs

Hardware Stores

Other Outlets

Marketing Trends

INDUSTRY STRUCTURE

Key Findings

Industry Composition

Market Share

Competitive Strategies of Suppliers

Cooperative Agreements

Mergers & Acquisitions

List of Industry Participants

APPENDIX

Scope

Definitions

Abbreviations

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Macroeconomic Assumptions

Economic Environment

Demographics

Consumer Spending

Consumer Financing

Residential Building Construction

Residential Improvements & Repairs


List of Tables

OVERVIEW

Table 2-1 | Home Ownership & Rental of Residences, 2008 - 2018 (percent of population)

Table 2-2 | Home Ownership & Rental of Residences by Annual Household Income Bracket, 2010 - 2018 (percent of population)

Table 2-3 | Landowners That Bought a Shed in Last 12 Months by Size of Land, 2018 (percent of households)

Table 2-4 | Remodeling Done in Last 12 Months vs. Planned in Next 12 Months, 2010 - 2018 (percent of households)

Table 2-5 | Who Completed Home Remodeling in the Last 12 Months, 2010 - 2018 (percent of households)

Table 2-6 | Characteristics of US Housing Stock, 2008 - 2023 (millions)

Table 2-7 | Outdoor Features in New Single-Family Houses Completed, 1997 - 2017 (percent of houses)

Table 2-8 | Adults Who Participated in Selected Sports Activities in the Last 12 Months, 2008/09 - 2018/19 (percent of adults)

CONSUMER INSIGHTS

Table 3-1 | Adults Who Gardened in the Last 12 Months by Gender, Age Bracket, & Ownership of Residence, 2008/09 - 2018/19 (percent of adults)

Table 3-2 | Type of Parking Facility of New Single-Family Houses Completed, 2007 - 2017 (percent of houses)

Table 3-3 | Demographics of Home Buyers, 2018/2019 (percent of adults)

Table 3-4 | Outdoor Storage Products Purchased by Age Group, 2019 (percent of respondents)

PRODUCT TRENDS & FORECASTS

Table 4-1 | Characteristics of Storage Sheds

Table 4-2 | Outdoor Storage Demand by Product, 2008 - 2023 (million dollars)

Table 4-3 | Selected Storage Shed Suppliers

Table 4-4 | Outdoor Storage Demand by Product, 2008 - 2023 (million dollars)

Table 4-5 | Selected Other Outdoor Storage Suppliers

DISTRIBUTION & RETAILING

Table 5-1 | Retail Outdoor Storage Demand by Product, 2008 - 2023 (million dollars)

Table 5-2 | Retail Outdoor Storage Demand by Outlet, 2008 - 2023 (million dollars)

INDUSTRY STRUCTURE

Table 6-1 | Outdoor Storage Sales by Company, 2018 (million dollars)

Table 6-2 | Competitive Strategies in the US Outdoor Storage Market

Table 6-3 | Selected Cooperative Agreements

Table 6-4 | Selected Mergers & Acquisitions

APPENDIX

Table 7-1 | Relevant Industry Codes

Table 7-2 | Abbreviations & Acronyms Used in Study

Table 7-3 | Macroeconomic Indicators, 2008 - 2023 (billion 2012 dollars)

Table 7-4 | Population & Households, 2008 - 2023 (million persons)

Table 7-5 | Personal Consumption Expenditures, 2008 - 2023 (billion dollars)

Table 7-6 | Consumer Financing Environment, 2008 - 2018

Table 7-7 | Residential Building Construction Expenditures, 2008 - 2023 (billion dollars)

Table 7-8 | Residential Improvement & Repair Expenditures, 2008 - 2023 (billion dollars)


List of Figures

EXECUTIVE SUMMARY

Figure 1-1 | US Outdoor Storage Market

OVERVIEW

Figure 2-1 | Key Trends in the US Outdoor Storage Market

Figure 2-2 | Home Ownership & Rental of Residences by Age Bracket, 2010 & 2018 (percent of population)

Figure 2-3 | Consumer Financing & Credit Trends, 2008 - 2018

Figure 2-4 | Leonard Buildings & Truck Accessories RTO Website Promotion

Figure 2-5 | Self-Storage Establishments in the US, 2008 - 2023 (thousands)

Figure 2-6 | Full or Partial Basements in New Single-Family Houses by Region, 2007 & 2017 (percent of houses)

Figure 2-7 | Louisiana-Pacific's Outdoor Building Solutions Website

Figure 2-8 | Roseburg's DuraTemp Sweepstakes for Shed Dealers

CONSUMER INSIGHTS

Figure 3-1 | Outdoor Storage Consumer Trends

Figure 3-2 | Promotion of She Sheds

Figure 3-3 | Solid Build Promotion of Shed as Retreat

Figure 3-4 | Heartland Promotion of Pool Shed

Figure 3-5 | Handy Home Products Phoenix Solar Shed

Figure 3-6 | Leonard Building & Truck Accessories Bungalow Playhouse Shed

Figure 3-7 | Who Installed Shed in Last 12 months, 2008/09 - 2018/19 (percent of households that purchased a shed)

Figure 3-8 | Percentage of Population Who Consider Themselves Efficient & Organized, 2010 - 2018

Figure 3-9 | Purchase of Outdoor Storage Products in Last 12 Months by Adults, 2019 (percent of respondents)

Figure 3-10 | Outdoor Storage Products Purchased by Gender, 2019 (percent of respondents)

Figure 3-11 | Outdoor Storage Products Purchased by Home Type, 2019 (percent of respondents)

Figure 3-12 | Storage Sheds Bought in Last 12 Months, 2008 - 2019 (percent of households that purchased a shed)

Figure 3-13 | Amount Spent on Storage Sheds, 2008/09 - 2018/19 (percent of households that purchased a shed)

PRODUCT TRENDS & FORECASTS

Figure 4-1 | Key Trends in US Outdoor Storage

Figure 4-2 | Examples of Wood Storage Sheds

Figure 4-3 | Examples of Resin/Plastic Storage Sheds

Figure 4-4 | Examples of Metal Storage Sheds

Figure 4-5 | Examples of Other Storage Sheds

Figure 4-6 | Examples of Deck Boxes, Bins, & Totes

Figure 4-7 | Examples of Outdoor Shelves

Figure 4-8 | Examples of Outdoor Storage Benches & Cabinets

Figure 4-9 | Examples of Other Outdoor Storage Products

Figure 4-10 | Heartland Functional & Durable Features

Figure 4-11 | Lapp Structures Shed Materials

Figure 4-12 | Absco Sheds SNAPTITE Assembly System

Figure 4-13 | Rubbermaid Split-Lid Shed

Figure 4-14 | Suncast Glidetop Shed

Figure 4-15 | Lifetime Products Vertical Storage Shed

Figure 4-16 | YardStash Outdoor Storage

Figure 4-17 | YardLine Stonecroft Wood Shed

Figure 4-18 | Tuff Shed's Premier PRO Studio Pent-Style Sheds

Figure 4-19 | ShelterLogic's Arrow Woodridge Steel Storage Shed

Figure 4-20 | Keter Fusion Plastic Shed with Wood-Like Appearance

Figure 4-21 | Suncast Deck Box with Scroll Design

Figure 4-22 | Custom Shed Design Tool Examples

Figure 4-23 | Arrow Ironwood Shed Frame Kit

Figure 4-24 | Specific Use Sheds

DISTRIBUTION & RETAILING

Figure 5-1 | Key Trends in US Outdoor Storage Distribution Channels

Figure 5-2 | Suncast Shed Exclusively at Home Depot

Figure 5-3 | Home Depot Online Ordering Options

Figure 5-4 | Selected Internet Shed Retailers

Figure 5-5 | YardLine Shed Exclusively at Costco

Figure 5-6 | Build-Well Sheds

Figure 5-7 | Retailers' Use of Pinterest & YouTube

Figure 5-8 | Houzz's Website Shed Section

Figure 5-9 | Home Depot & Lowe's Online Shed Offerings

INDUSTRY STRUCTURE

Figure 6-1 | Outdoor Storage Market Share by Company, 2018 (billion dollars)

Figure 6-2 | Outdoor Storage Market: Leading Supplier

Figure 6-3 | Outdoor Storage Market: Second Leading Supplier

Figure 6-4 | Outdoor Storage Market: Third Leading Supplier

Figure 6-5 | Outdoor Storage Market: Fourth Leading Supplier

APPENDIX

Figure 7-1 | Annual Growth in Real GDP, 2000 - 2018, Compared to 1980 - 2005 Average (percent)

Figure 7-2 | Annual Population Growth, 2003 - 2018 (percent)


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