New Investments Expected To Boost the Kids Furniture Market between 2019 and 2027
Transparency Market Research delivers key insights on the global kids furniture market. In terms of revenue, the global kids furniture market is estimated to expand at a CAGR of 6% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in the kids furniture market report. Globally, the revenue generated by the kids furniture market exceeded US$ 109 Bn in 2019.
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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In this report, TMR analyses that the tables and chairs are estimated to be key product segments by the end of 2027 of the kids furniture market. Low cost and numerous varieties are the major factors impacting the kids furniture market. Increasing demand for multifunctional and compact furniture is expected to surge the demand for cribs, mattresses, and other furniture products.
Companies Focusing on Product Innovation
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. 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 around 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.
Luxury Class Segment to Help North America’s Dominance on Global Stage
North America and Europe dominated the global kids furniture market, owing to the presence of prominent players and significant demand for kids furniture across regions. High demand from the luxury class category segment in North America and Europe is a key factor for the dominance of the kids furniture market in these regions. However, increasing demand from emerging countries of Asia Pacific have made it the fastest growing market for kids furniture. Moreover, rising population and urbanization in several countries such as China, Brazil, and India is fueling the demand for kids furniture.
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The global kids furniture market is highly fragmented. Several major market players have a significant presence across the globe. 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, and Summer Infant Inc.
Global Kids Furniture Market: Segmentation
Kids Furniture Market, by Product
- Others (Stool, Seating Furniture, Chest of Drawers, etc.)
Kids Furniture Market, by Category
- Luxury Class
- Middle Class
- Upper Class
Kids Furniture Market, by Material
- Others (Rattan, Composites, Fiberglass, etc.)
Explore Latest Reports by TMR:
Kids Furniture Market – https://www.prnewswire.com/news-releases/kids-furniture-market-to-expand-at-cagr-of-5-8-product-innovations-to-pervasively-complement-safety-requirements-in-kids-furniture-says-tmr-301387769.html
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