Kids Furniture Market
Kids Furniture Market (Product: Tables, Chairs, Beds, Cribs, Mattresses, and Others [including Stools, Seating Furniture, and Chest of Drawers]; Category: Luxury Class, Middle Class, and Lower Class; and Material: Wood, Plastic, Metal, and Others (including Rattan, Composites, and Fiberglass]) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Growing Adoption of Sensory Furniture Supports Intelligence in Children
Companies in the kids furniture market are unveiling unique solutions to cater to specific needs of end users. They are innovating in sensory furniture to improve memory skills, concentration, and regulate emotional instincts in children. For instance, Tink Things - a kids furniture company, excels in the production of sensory kids chairs.
Chairs product segment of the kids furniture market is estimated to reach an output of ~400 million units by the end of 2027. Hence, manufacturers are innovating in sensory-intelligent chairs, which are based on therapeutic principles.
In today’s modern era, parents are becoming increasingly aware about various methods that are instrumental in a child’s growth. Hence, they are adopting intelligent kids furniture to provide an enjoyable and learning environment for children. Companies are increasing their research activities to develop intelligent chairs with high-tech materials such as solid ash wood and 3D mesh fabric. Intelligent furniture not only aids in child growth but also complements with the aesthetic requirements of parents. Moreover, companies are adopting sustainable production techniques to reduce production waste.
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Designer Kids Furniture to Create Global Impact
The kids furniture market is witnessing a shift in consumer preferences for designer furniture. Increasing awareness about environmental impact of plastic has impelled market players to tap into new opportunities in designer kids furniture. Likewise, developers are producing furniture made from recycled plastic and discarded plastic toys. As such, plastic material segment of the kids furniture market is expected reach production of ~200 million units by 2027.
The trend of designer kids furniture has led to the rise of several startups who are capitalizing on the trend. However, it is challenging to convince consumers that the ‘speckled’ look of designer furniture made from recycled material can also look aesthetically beautiful. As such, companies are targeting consumers that are environment conscious about the serious consequences of plastic pollution. They are focusing on technological development to offer added comfort to children. Companies are intensifying research on plastics and recycling of plastic toys to introduce modular designs in furniture. Startups are increasing efforts to collaborate with international brands to boost their credibility in the global kids furniture market landscape.
e-Commerce Giants Maximize Gross Merchandise Value in Asia Pacific
Currently, Asia Pacific dominates the kids furniture market in terms of value and volume. This market in Asia Pacific is estimated to generate the highest revenue of ~US$ 69 Bn by 2027. Lucrative opportunities in Asia Pacific has attracted the attention of e-Commerce giants, planning to maximize on the growing online shopping trend. For instance, India is one of the leading economies in Asia Pacific. Due to the increase in the number of online shoppers in India, e-Commerce platforms, such as Pepperfry, are bullish in the kids furniture market.
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The kids furniture market in India is predicted for a steady Y-o-Y growth during the forecast period. Hence, e-Commerce platforms are bidding high on gross merchandise value and are increasing the availability of innovative furniture. They are targeting marketing strategies at young urban parents, since they are the key age group for new products. Moreover, changing consumer preference for high-quality furniture is also supporting the growth of the kids furniture market. Rise of single-child-double-income families is another driver for exponential growth of the kids furniture market.
Product Innovations to Pervasively Complement Safety Requirements in Kids Furniture
Manufacturers in the kids furniture market are continuously meeting consumer demands for space-saving and customizable furniture. Since the kids furniture market is highly fragmented, manufacturers are focusing on constant product development to stay relevant in the business landscape. They are increasing efforts to curate their collection of furniture and make designs that are accessible to kids of all ages.
Moreover, they are expanding product portfolio in innovative wooden furniture. As such, wood material segment of the kids furniture market is expected to reach a value of ~US$ 101 Bn by 2027. Companies are also focusing on providing free design services to customers to cater to their personalized needs. They are teaming up with local artists and designers to develop customizable and ethically-made furniture. Additionally, meeting safety requirements is one of the key focal points for manufacturers.
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The kids furniture market is witnessing transformation with the introduction of intelligent furniture, which is more inclusive by design. They are increasing capabilities to develop high-quality furniture that meets customer demands for long-lasting products. Companies are exploring the CNC (Computerized Numerical Control) technology and increasing efficacy in manual finishing.
However, challenges in designer furniture, such as ‘greenwashing’ are misleading for customers who are genuinely looking for sustainable furniture. Hence, manufacturers should increase efforts to label their products on the basis of quality, quantity, and longevity. Manufacturers should also focus on developing smart furniture that ensures safety and is kid-friendly.
Kids Furniture Market: Overview
- According to Transparency Market Research’s latest report on the kids furniture market for the historical period 2017-2018 and forecast period 2019-2027, the growing demand for kids furniture from emerging economies across Asia Pacific and South America is expected to bolster the growth of the global kids furniture market during the forecast period.
- Globally, the revenue generated by the kids furniture market is estimated to exceed ~US$ 109 Bn in 2019, and expand at a CAGR of ~6% in terms of value during the forecast period
Demand from Emerging Economies and Technological Advancements: Key Market Drivers
- Emerging economies across Asia Pacific and South America, such as China, India, and Brazil are anticipated to show growth in demand for kids furniture in the near future, owing to increasing urbanization and construction of houses, apartments, etc.
- Increasing demand for multi-functional furniture, owing to reduction in house sizes, and growing preference for compact and easy-to-move furniture are encouraging manufacturers to increase the production of multi-functional kids furniture. This is expected to lead to the overall growth of the kids furniture market in the near future.
- Technological development is the key trend in the kids furniture market. Advancement in the manufacturing process increases the production of furniture and leads to improvement in quality of products. Additionally, major players in the kids furniture market are collaborating with local handicraft furniture manufacturers to increase their presence in different regions. These factors are likely to support growth of the kids furniture market during the forecast period.
Increasing Demand for Tables and Chairs Driving Kids Furniture Market
- Tables and chairs are most demanded product type in kids furniture. Tables and chairs product segments account for a combined share of over 50% of the kids furniture market.
- Rising disposable income of customers and improvement in standard of living are major factors driving market growth. Increase in purchasing power of the middle class is leading to significant rise in demand for kids furniture. However, the luxury class category segment is expected to witness significant growth during the forecast period. Wood furniture dominates the global kids furniture market, as most consumers prefer wood furniture in all product segments.
Compact and Multi-functional Kids Furniture to Boost Kids Furniture Market
- Increasing number of apartments and small houses in urban areas of several developing countries is expected to fuel the demand for space-saving compact furniture or multi-purpose furniture in the near future. Moreover, migration of people to urban areas and metro cities in several emerging countries is leading to the construction of small apartments, which is a major factor driving the demand for compact and easy-to-move furniture.
- Growing population and urbanization in developing countries are expected to create lucrative opportunities for the manufacturers of kids furniture during the forecast period
Kids Furniture Market: Competition Landscape
- Detailed profiles of manufacturers of kids furniture have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global kids furniture market include
- Ashley Home Stores, Ltd.
- Bombay Dyeing
- Dream On Me Inc.
- Milliard Bedding
- Sorelle Furniture
- Summer Infant Inc.
Kids Furniture Market: Key Developments
Key manufacturers in the kids furniture market, such as Ashley Furniture are strengthening their global sales structure by increasing their production capacity. Other key developments in the kids furniture market are as follows:
- Ashley Furniture Industries is expanding its furniture business across the U.S. and overseas. The company has around 19 manufacturing facilities (China and Vietnam). In October 2019, it inaugurated its 1,000th store in Delaware, the U.S. which will be operated by Barnes Furniture Inc. The company is focusing on expanding its customer base through offline and online markets.
- KidKraft continues to focus on innovative designs and quality of products. The company plans to introduce new products and revamp its existing product portfolio with different colors, designs, and sizes. In 2016, the company acquired Big Backyard and Cedar Summit. It expanded its product portfolio beyond the playroom into the backyard.
In the global kid’s furniture market report, we have discussed individual strategies, followed by company profiles of manufacturers of kids furniture. The ‘Competitive Landscape’ section is included in the market report to provide readers with a dashboard view and a company market share analysis of the key players operating in the global kids furniture market.
Kids Furniture Market – Scope of the Report
Transparency Market Research’s recent report on the kids furniture market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the global kids furniture market analyzes the scenario for the period of 2019 to 2027, wherein, 2018 is the base year and 2017 and before is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.
This TMR study on the global kids furniture market also provides data on the developments made by important players and stakeholders in the market, along with a competitive analysis. The report also provides an understanding of strengths, weaknesses, threats, and opportunities, along with trends and restraints in the market landscape. Presented in a clear sanctioned manner, this report on the global kids furniture market offers readers an individual understanding of the market.
This study also discusses the underlying trends and the impact of various factors that are driving the global kids furniture market, along with their influence on the evolution of the market.
This study also offers Porter’s Five Forces Analysis, value chain analysis, technology analysis, raw material analysis, consumer buying behavior, brand analysis, price trend analysis, and SWOT analysis of the global kids furniture market in order to elaborate crucial growth tactics and opportunities for market players contributing to the market.
Key Questions Answered in TMR’s Report on Kids Furniture Market
How much revenue will the global kids furniture market generate by the end of the forecast period?
- Which product is likely to hold the maximum market share by 2027?
- Which regions currently contribute the maximum share to the overall kids furniture market?
- What are the indicators expected to drive the global kids furniture market?
- Which region is likely to be a lucrative market during the forecast period?
- What are the essential strategies incorporated by key stakeholders in the global kids furniture market to expand their geographical presence?
- What are the major advancements witnessed in the global kids furniture market?
This report answers these questions and more about the global kids furniture market aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.
Kids Furniture Market – Research Methodology
This TMR report on the global kids furniture market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. The competitive scenario of the global kids furniture market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the kids furniture market arrive at predictions and estimations, and calculate the forecast for the market.
This report uses an analytical triangulation method to estimate numbers and figures of the global kids furniture market, with both a bottom-up and top-down approaches.
This detailed assessment of the global kids furniture market, along with an overview of the landscape, has been provided based on a careful examination of the avenues related to this market. Analysts’ conclusions on how the global kids furniture market is expected to grow are based on carefully vetted primary and secondary sources.
- In the chapter, the report offers a dashboard view of the market share analysis of leading players in the global kids furniture market, along with structural analysis
- The reports includes the below mentioned pointers of major players operating in the kids furniture market:
- Company Overview
- Product Profiling
- Market Share Analysis (2018)
- Product Innovation
- Business Strategies/Recent Developments
- Technological Advancements
- Key Mergers & Acquisitions
- Expansion Strategies
- Company Financial
Some of the Key Players Covered under the Scope are:
Global Kids Furniture Market – Segmentation
This report on the global kids furniture market provides information on the basis of product, category, material, and region.