Global Playroom Furniture Market Outlook
The global playroom furniture market is estimated at USD 4,000 Mn in 2022 and is forecast to surpass USD 6,700 Mn by 2032, growing at a CAGR of 5.4% from 2022 to 2032.
| Report Attributes |
Details |
| Base Year Value (2021A) |
USD 3,800 Mn |
| Estimated Year Value (2022E) |
USD 4,000 Mn |
| Projected Year Value (2032F) |
USD 6,700 Mn |
| Value CAGR (2022 to 2032) |
5.4% |
| North America Market Share in 2021 |
~25% |
| Collective Value Share (US, UK, Germany) 2022: Top 3 Countries |
~30% |
| Key Companies Profiled |
Ashley Furniture Home Stores; Inter IKEA Systems B.V.; KidKraft; Williams-Sonoma Inc.; Flexa; Nebraska Furniture Mart; Crate and Barrel; P’kolino, LLC; American Signature, Inc.; CHILDREN’S FACTORY |
The global playroom furniture market accounts for ~10% of the global kid’s furniture market in 2022 and is expected to expand in forecast years. The global playroom furniture market is estimated to have an absolute $ opportunity of USD 2,700 Mn during the assessment period of 2022 to 2032.
Considering the market trend countered in recent times, mandatory focus on modern house designs for playrooms along with additional stuff related to kid furniture products gained traction. Similarly, the need of developing social skills in kids anticipated to escalate the market of playroom furniture in upcoming half-decade.
2017 to 2021 Global Playroom Furniture Market Outlook in Comparison to 2022 to 2032 Growth Forecast
Parents are increasingly becoming conscious of the holistic growth of their kids and are thus, focused on having a dedicated place for their fun and learning. A well-furnished playroom makes it easier for kids to have fun and develop their social skills.
Change in consumer preferences has led to enhanced demand for multi-functional playroom furniture, which is witnessing a positive growth. Additionally, environment-conscious consumers are placing greater demand for the wooden playroom furniture market, which is likely to enhance playroom furniture market growth by 1.4X.
Consumers are preferring affordable, handcrafted and durable playroom furniture, in addition to demanding sustainable playroom furniture, which is likely to expand market demand by 1.2X. Moreover, expanding day-care industry lays down potential growth of playroom furniture market in the forecast years of 2022 to 2032.
Growth in the home décor industry, along with enhanced proliferation of playroom furniture in residential applications along with commercial applications in hospitals and daycares are likely to trigger market demand by 1/4th in coming years.
Expansion in the real-estate industry has impacted the furniture market, leading to manufacturers offering a wide range of home infrastructures, and playroom furniture is one of them. Thus, they can lure consumers seeking creative furniture décor for their children’s rooms, thus contributing 1/3rd to market growth.
Fact.MR projects the playroom furniture market to witness exhibiting growth at 5.4% CAGR between 2022 and 2032 in comparison to a CAGR of 3.2% posted between 2017 and 2021.
Child Care Arrangements Leading to Market Growth
Child care arrangements have witnessed an immense transformation in recent years. For instance, according to a survey by U.S. Census Bureau, the United States has witnessed a 2X rise in child care operating facilities.
Increased expenditure on child care is creating ripple effects on demand for the playroom furniture market. Additionally, an increase in the number of working mothers is likely to support market growth by 1.3X as working mothers are likely to spend more than 172% on child care, according to a survey by U.S. Census Bureau.
Economic prospects are improving across the globe, giving rise to a middle-class population, particularly in developing nations. The enhanced purchasing power of this population segment is creating a lucrative consumer base for manufacturers to target.
Multifunctional Attributes Gaining Momentum
Manufacturers are adopting smarter production techniques, to offer relevant product offerings in line with budding consumer inclinations. Features such as easily foldable and disassembling playroom furniture’s are attracting consumers.
Moreover, consumers are looking out for multifunctional playroom furniture such as that can be used even after the kids grow up and also offers storage facilities. This, in turn, is likely to enhance sales of multifunctional playroom furniture by approximately 53%.
Introduction of Novel Products Influencing Growth
Manufacturers are focusing on the provision of innovative designs in playroom furniture that are in tandem with children’s interests. For instance, they are offering superhero design furniture for boys and doll designs dedicated to girls. This is expected to contribute to market demand by 2/5th.
Additionally, with the growing residential sector worldwide, manufacturers are introducing a wide variety of theme-based playroom furniture to cater to the increasing requirements of a growing population, and are thus leveraging potential growth opportunities.
Region-wise Insights
Which is the dominant region in Playroom Furniture Market?
North America playroom furniture market is the dominant region in the overall market as it contributed approximately ~25% to the overall market share in 2021 and is poised to continue on the same trajectory in upcoming half-decade.
The presence of multiple domestic and international players in the market along with the rising demand for playroom furniture for kids in the United States is fueling market demand for playroom furniture.
However, Europe which holds a 21.9% market share is likely to contribute substantially to the playroom furniture market, with sales likely to increase at a robust pace during the assessment years of 2022 to 2032.
The region is dominated by the presence of small and medium-size enterprises and also presents lucrative opportunities for new manufacturers entering the market. Producers are focusing on developing new designs to offer ready-to-assemble (RTA) and multifunctional furniture. Innovation in design, use of enhanced components, offering low-cost products etc. are some of the key factors influencing sales of playroom furniture, thus, making it an attractive market.
What is the market scenario in the Asia-Pacific?
East Asia and South Asia playroom furniture market are contributing approximately 19.5% and 19.2% to the overall market share, respectively and are likely to provide 3/5th of the overall revenue of the playroom furniture market in the forecast years of 2022 to 2032.
The presence of a favourable business environment in emerging economies, showcase higher market attractiveness in the region. Many leading global players are grabbing this opportunity and are either launching new products or are partnering with local companies to expand their footprint.
Emerging economies of China, India, and Australia are poised to contribute to higher market demand because of the higher inclination of the consumer’s towards the use of playroom furniture for kids.
Category-wise Insights
Which material type segment contributes maximum market growth in the Playroom Furniture Market?
Playroom furniture is available in different materials of wood, plastic, fabric and metal. Amongst them, the wooden playroom furniture segment holds the largest market share of 37.4%. Features such as excellent strength, durability, and the addition of vibrant colors to attract kids are able to impact market demand.
Which product type is likely to gain momentum in forecast years?
Table and chair sets under product type hold nearly 1/3rd market share in the global playroom furniture market. Rising demand for sitting units and augmented preference amongst the kids to sit on chairs is likely to impact positively on the market growth in the forecast years of 2022 to 2032.
Moreover, the availability of products like storage units, drawers, displays, organizers etc. is poised to raise demand for storage cabinets. During the forecast years, the storage segment is anticipated to register a CAGR of 4.2%.
Which application segment of Playroom Furniture is projected to show maximum growth?
The residential application of playroom furniture holds more than 55% of the global market share. The escalated tendency of consumer’s to have an indoor playroom for their kids is likely to support market growth in a positive direction.
In addition to this, augmented infrastructural developments leading to a reduced number of playgrounds is paving the way for building indoor playrooms for kids. This is projected to contribute more than 53% to market growth in assessment years.
Competitive Landscape: Top Companies in Playroom Furniture Market
The global playroom furniture market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced Playroom Furniture products.
Fact.MR has provided detailed information about price points of top manufacturers of Playroom Furniture positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
For instance: Interior Define collaborated with Monica + Andy in 2019, to launch a line of furniture specifically for kids. It includes peace, gray stripe, blue stripe and palm to cover sofas and chairs. These products are made up of high-density hypo allergic foam and have undergone stringent testing to ensure that they are safe for kids.
