A new Fact.MR study envisions the playroom furniture market to present an impressive 6.1% value CAGR during the forecast period, 2018 to 2028
Resurgence of home décor industry, coupled with significant proliferation of playroom furniture in hospitals and residential space continue to influence sales of playroom furniture, consequently driving growth of playroom furniture market during the period of forecast. Moreover, largely driven by customer preference, playroom furniture manufacturers are relying upon online distribution channel networks for sales of playroom furniture apart from traditional selling concepts. With pervasiveness of e-commerce, manufacturers of playroom furniture are leveraging the popularity and reach of online retail channel to touch base customers situated in remote areas with a view to increase sales of playroom furniture.
In addition, recently customers are looking for handcrafted, affordable and durable playroom furniture, given the growing awareness regarding sustainability, which has significantly impacted sales of playroom furniture worldwide. That said, sustainable playroom furniture has been adopted across day care centers. This factor coupled with expanding day care industry has paved potential growth prospects for playroom furniture market during the period of forecast.
Alike manufacturers of playroom furniture, increasing preference for online channels among customers is likely to influence the growth of the playroom furniture market during the period of forecast, 2018-2028. Fact.MR foretells that the market for playroom furniture is projected to expand at significant CAGR of 6.1% with respect to value throughout the period of forecast, with sales to be concentrated in European countries and emerging economies of Asia Pacific excluding Japan (APEJ) region.
Playroom Furniture Market: Significant Prospects for Playroom Furniture in European Countries
The report highlights that developed countries in Europe are expected to substantially contribute to the growth of playroom furniture market with sales increasing at a stellar pace during the period of assessment. Mostly dominated by small and medium size enterprises, Europe region is expected to reflect lucrative growth opportunities as manufacturers develop new designs in response to customer preference for quality products. Moreover, increasing preference for multifunctional and ready-to-assemble (RTA) furniture, given the design innovations, low cost and use of enhanced material composites, is expected to influence sales of playroom furniture in the region, making it an attractive market.
On the other hand, Asia Pacific excluding Japan (APEJ) region is also expected to showcase higher market attractiveness with increasing presence of manufacturers in the region, as emerging economies in APEJ have portrayed favorable business environment from manufacturing standpoint. In addition, given its lucrativeness, international players are tapping the region to launch new products and partner with local companies to extend their global footprint. Countries of India, China and Australia are showing higher inclination towards use of playroom furniture, which is likely to fuel the market's growth in this region in the coming years.
Playroom Furniture Market: Online Retailing of Playroom Furniture Gains Traction
Increasing consumer inclination towards online shopping owing to convenience factor and cost effectiveness has been a crucial aspect fuelling sales of playroom furniture. That said, manufacturers have adopted online sales channel as a vital sales funnel that can increase the visibility of their products. Moreover, domestic manufacturers of playroom furniture are opting online portals, for instance, the Trendsutra Platform Service Private Limited and Urban Ladder to highlight their products. Surging online platform is expected to present lucrative growth opportunities for playroom furniture market during the forecast period.
Playroom Furniture Market: Playroom Goes Woody
Wood has been adopted as a favorable material for manufacturing of furniture, as it can be easily disposed after the completion of lifecycle of the furniture. That said, wood as a natural material is widely adopted in playroom furniture manufacturing, not only on accord of its ease in disposal but also its high durability. Moreover, the natural lines and patterns on wooden playroom furniture makes them look aesthetically appealing. This has resulted in increased adoption of wood in playroom furniture as compared to other material including plastics, metal and fabrics.
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