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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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.
- Graco
- IKEA
- KidKraft
- Legaré
- 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.
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