According to The Freedonia Group’s new Sheds & Other Residential Outdoor Storage, the outdoor storage products market in the US will total $1.6 billion in 2023. Helping to support sales of these products will be three lifestyle trends occurring throughout the country:
- Outdoor Living – Homeowners have continued to install indoor style living spaces such as kitchens and living rooms in their backyards and surrounding outdoor spaces. With these new living areas comes the need to store additional items, such as seat cushions, candles, games, and any other objects that may be used for outdoor entertaining.
- Active Lifestyle – In recent years, consumers have increasingly participated in – and acquired the necessary equipment and gear for – a number of outdoor activities such as backpacking, hiking, and kayaking. If basements, attics, and garages become too full to hold these items, sheds can provide the necessary storage space.
- Gardening – Gardening has remained a popular pastime among homeowners in the US. Participation is expected to increase as the large millennial cohort ages into its prime home-buying years. Outdoor storage will become necessary as these new homeowners begin to purchase lawn and garden equipment to maintain their outdoor spaces.
Want to Learn More about Residential Outdoor Storage?
The Freedonia Group study Sheds & Other Residential Outdoor Storage offers a comprehensive view of the US market, including data analysis of historical demand trends and forecasts for 2023 by product and retail outlet. Furthermore, the study provides consumer survey data and in-depth profiles of industry leaders, including market share by company and relevant merger and acquisition activity.
Related titles may be found on the Consumer Goods category page: https://www.freedoniagroup.com/industry-category/cons/consumer-goods.htm