- 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.
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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.
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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.
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