The global playroom furniture market size is expected to register a revenue of USD 4.3 billion by the end of 2025, according to a new report by Million Insights. It is expected to grow with a CAGR of 5.2% from 2019 to 2025.This market growth can be associated to increasing need among parents for separate indoor kid’s play area.
The use of playroom to enhance the learning method for kids is expected to create demand for playroom furniture in the upcoming years. These playrooms enhance the physical, emotional and intellectual growth of the kids. Moreover, avoidance of clutter created by the kids regarding separate room can be avoided with the help of this furniture. Manufacturers have started producing furniture as per the trending themes among the kids.
The wood raw material segment held the largest market share of around 55% in 2018 owing to availability of variety of wood obtained from trees like maple, oak, cedar, pine, and cherry. Thepolymer raw material segment is anticipated to register the highest CAGR of 5.8% during the forecasted years, 2019 to 2025 due to features like increased durability, lightweight and non-breakability.
The chair product segment held the largest market share of 30% across the global market in 2018 owing to rising demand for sitting units across all playrooms. Moreover, increasing preference among the kids to sit on these chairs rather than to sit on floor is anticipated to boost the market demand for such products in the upcoming years. The cabinet is anticipated to register the highest CAGR of 5.8% during the forecasted years, 2019 to 2025 due to availability of a wide range of products like organizers, drawers, displays and storage units.
The residential application segment held the largest share exceeding 60% during the year 2018 due to rising tendency among the parents to build an indoor playroom for their kids. Moreover, indoor playroom provides safety for kids as compared to the playgrounds, thereby fueling the playroom furniture market growth. The commercial segment is anticipated to register the highest CAGR of 5.5% from 2019 to 2025 owing to rising number of kindergartens, daycare centers, and pre-nurseries across the globe.
The segment of hypermarket & supermarket held the largest share of more than 50% in2018 due to the provision of physically examining the products before making the buying decision. The online segment of the distribution channel held the largest share across the global market. Asia Pacific is anticipated to register the highest growth with 6.0% CAGR during the forecasted years, 2019 to 2025 owing to rising population across countries like China and India.Additionally, increasing number of playrooms in houses due to scarcity of playgrounds is anticipated to boost the market growth.
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Further key findings from the report suggest:
• In 2018,the wood raw material segment held the largest market share of around 55% across the global playroom furniture market.
• The polymer raw material segment is anticipated to register the highest CAGR of 5.8% from 2019 to 2025.
• The chair product segment held the largest market share of 30% across the global market.
• The key players in the market are American Signature, IKEA, HNI, Herman Miller, Herman Miller, TJX, Williams-Sonoma, and Steelcase.
Million Insights has segmented the global playroom furniture market on the basis of raw material, product, application, distribution channel and region:
Playroom Furniture Raw Material Outlook (Revenue, USD Million, 2015 - 2025)
Playroom Furniture Product Outlook (Revenue, USD Million, 2015 - 2025)
Playroom Furniture Application Outlook (Revenue, USD Million, 2015 - 2025)
Playroom Furniture Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
• Specialty Store
• Hypermarket & Supermarket
Playroom Furniture Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa