Outdoor Spaces Continue to Be Popular Just Patios According to a study published in May by the National Kitchen & Bath Association, the latest outdoor living spaces offer more than just grilling centers. New products such as pizza ovens, fire pits, outdoor entertainment options, and games enhance outdoor entertainment experience. Homeowners now want to be outdoors and are focused on creating an enjoyable outdoor experience. Compared to past eras, where couches were dragged onto the porch, homeowners have more resources for creating outdoor living spaces today. Importance of an Outdoor Living Area According to a survey, 92 percent of respondents consider having an attractive and inviting outdoor living area in their home important. Homeowners globally seek ways to escape stress while keeping their loved ones safe and healthy. Creating a well-designed outdoor space can offer a refreshing change of scenery and a comfortable place to relax and reconnect with nature. Growing Demand for Outdoor Living Spaces According to Transparency Market Research Inc., more and more people are choosing to install outdoor living structures, such as outdoor kitchens and fireplaces, for dining and recreation purposes. The global outdoor living structure market has seen an increase in value from $2.4 billion in 2022 to an expected $4.0 billion by 2031, growing at 6.1 percent from 2023 to 2031. This growth is largely due to households spending more money beautifying their patios. Eco-Friendly Materials Companies in the market have a big opportunity for growth because more people want outdoor living structures made from environmentally friendly materials like recycled materials and wood fiber. This growth is driven by residential customers spending more on stylish outdoor rooms. Beautification of Outdoor Spaces Homeowners are investing a lot in enhancing the appearance of their homes, particularly their outdoor living spaces, which is expected to drive the market for outdoor living structures. People are interested in creating a space outdoors where they can relax, prompting more spending on beautifying these areas. From 2023 to 2031, the pergola segment is anticipated to hold the most significant market share among the different product types. This high market share is due to the increasing use of pergolas for gardening and growing plants, leading to a boost in demand for this segment. It is clear that outdoor living spaces are becoming increasingly popular, and homeowners are investing more time and money into their outdoor areas. Overall, it can be said that outdoor living spaces will continue to grow in popularity as they offer a great way for individuals and families alike to relax and reconnect with nature while also making sure that these activities do not harm our environment. Sources: https://www.transparencymarketresearch.com/outdoor-living-structure- market.html https://www.canberratimes.com.au/story/6956702/survey-shows-outdoor- living-is-high-on-the-aussie-agenda/ https://finance.yahoo.com/news/outdoor-living-structure-market-rising- 103000853.html https://www.justpatios.com.au