Playroom Furniture Market Size will Record a CAGR of 6.1% during 2018 to 2028
Posted by faisal on October 10th, 2019
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.
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Production trends of playroom furniture have largely been influenced by changing consumer preferences. In recent years, steady rise in consumer preference for multi-functional playroom furniture has significantly rubbed off on growth of the playroom furniture market. Additionally, rising awareness on sustainability among consumers has led manufacturers to focus more on hand-crafted yet affordable & durable products.
Flourishing furniture industry worldwide, coupled with the rise in middle-class population across developing nations will continue to be key growth determinants for the playroom furniture market. Albeit the playroom furniture market presents the occupancy of few established stakeholders, a large number of domestic players collectively account for major shares of the market. This has further inhibited prospects of import penetration of playroom furniture, as local vendors of playroom furniture are first in the line to leverage potential opportunities by attracting consumers through their novel offerings. This, along with lower mass production of playroom furniture owing to rising trend of customization, will continue to constrain its market growth prospects.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.
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. Urbanization and expansion of the real estate industry has significantly impacted prospects of the furniture industry. This has led housing contractors to deliver a wide range of home infrastructures, with playroom furniture being one of the key offerings. This has further lured consumers who seek creative aesthetics for their children’s rooms, thereby favoring growth of the playroom furniture market.
Companies operating in the playroom furniture market have directed their focus toward the provision of innovative designs that fall in line with interest of children. Playroom furniture with superhero designs dedicated for boys and dollhouses for girls are key trends observed in the market since the recent past. As the residential sector is witnessing a resurgent growth worldwide, to cater housing requirements of the growing population, manufacturers have introduced a wide variety of theme-based playroom furniture to leverage the potential opportunities.
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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About the Authorfaisal
Joined: October 9th, 2019
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