Rise in middle-class demographic and economic growth in several developing countries such as China and India have largely influenced the demand for playroom furniture. In the latest market research study by Fact.MR, growing inclination towards the use of playroom furniture in emerging economies of Asia pacific is likely to fuel the market in this region. Rapid urbanization and expansion of building infrastructure have been highly impactful on the playroom furniture market in the Asia Pacific region. According to the Fact.MR’s study, Asia Pacific portrays a favorable business environment, creating lucrative opportunities for the manufacturers of playroom furniture.
Rise in demand for playroom furniture in both hospital and residential spaces to improve the aesthetics of children’s room have directly impacted the Asia Pacific playroom furniture market. Sales of playroom furniture is further influenced by increasing popularity of home décor industry in urban areas. High spending capabilities on the coattails of improving economic prospects in developing countries is envisioned to project growth trajectory of playroom furniture market in Asia Pacific. In addition, growing expenditure on child care arrangements is estimated to bode well with the growth of playroom furniture market.
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Growing focus of manufacturers on developing products that are easily foldable and dissembled and adoption of smart production techniques are expected to translate into growth prospects of playroom furniture market. Moreover, multifunctional playroom furniture is gaining high popularity with growing instances of nuclear family coupled with decrease in size of homes. With increasing awareness of sustainability, manufacturers are further targeting on incorporating recyclable raw materials, which will possibly impact the overall sales of playroom furniture.
The Fact.MR’s study forecasts the revenue of global playroom furniture market to expand at a robust value CAGR of 6.1% over the assessment period, 2018-2028. Maximum sales of global playroom furniture market is expected to be generated from European countries and Asia Pacific region. Europe will continue to dominate the market with development of new designs and high-quality products in response to the customers’ demand. Further, low cost and inclusion of enhanced composite materials are likely to improve the attractiveness of playroom furniture market in this region.
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On the basis of material type, wood is foreseen to dominate over other variants in global playroom furniture market. Wood is a material of choice among playroom furniture manufacturers, owing to high durability and ease of disposal. Aesthetic properties of wood have escalated its demand over other materials such as metal, plastic, and fabrics.
Increasing penetration of digital platforms and high prevalence of online shoppers have accelerated the sales of playroom furniture through online channels. Owing to convenience, doorstep-delivery, and cost-effectiveness, the global playroom furniture market is expected to remain concentrated among online retailers, in terms of distribution channel. Moreover, local manufacturers relying on online portals for product promotion and offering will possibly auger well with growth of global playroom furniture market.
Emerging trends of playroom furniture lined with child’s interest such as with superhero designs and theme-based furniture, and introduction of novel products will continue to shape the path of global playroom furniture market.
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