Freedonia: 3 Trends Driving Demand for Residential Outdoor Storage

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Sep 16, 2019, 09:47 ET

CLEVELAND, Sept. 16, 2019 /PRNewswire/ -- 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:

1. 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.

2. 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.

3. 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

About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
+1 440.684.9600
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SOURCE The Freedonia Group