Report : Asia Pacific School Furniture Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Material Type (Wood, Metal, Plastic, and Others), Product Type (Benches and Chairs, Desks and Tables, Storage Units, and Others), and Distribution Channel (Specialty Stores, Online Retail, and Contracts/Bids)
At 7.7% CAGR, the Asia Pacific School Furniture Market is speculated to be worth US$ 1,681.92 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific school furniture market was valued at US$ 1,076.51 million in 2022 and is expected to reach US$ 1,681.92 million by 2028, registering a CAGR of 7.7% from 2022 to 2028. Increasing demand for sustainable material and growing trend of ergonomic furniture is driving the Asia Pacific school furniture market.
Green classrooms and school-wide ‘go green’ initiatives are rising as educators encourage students to become more environmentally conscious and friendly. Nowadays, sustainable classroom storage, chairs and desks are popular options for classrooms across the region. Sustainable furniture products are made using manufacturing processes and environmentally friendly materials such as polypropylene, renewable timber or steel, which meet approval standards for emissions and are designed to protect indoor air quality. Using furniture made of these materials allows manufacturers to divert waste from being delivered to landfills. Manufacturers such as Paragon Furniture Inc. use recycled or recovered fibers for manufacturing their wood products. Additionally, various countries’ governments are increasing support to promote sustainable construction of schools. All these factors will create lucrative opportunities for the growth of the Asia Pacific school furniture market.
On the contrary, fluctuation in prices of wood is hampering the Asia Pacific school furniture market growth.
Based on material type, the Asia Pacific school furniture market is segmented into wood, metal, plastic, and others. The wood segment held 57.7% market share in 2022, amassing US$ 620.96 million. It is projected to garner US$ 959.02 million by 2028 to expand at 7.5% CAGR during 2022–2028.
Based on product type, the Asia Pacific school furniture market is categorized into benches and chairs, desks and tables, storage units, and others. The implantable ventricular assist devices segment held 48.5% market share in 2022, amassing US$ 521.98 million. It is projected to garner US$ 846.18 million by 2028 to expand at 8.4% CAGR during 2022–2028.
Based on distribution channel, the Asia Pacific school furniture market is segmented into specialty stores, online retail, and contracts/bids. The specialty stores segment held 73.9% market share in 2022, amassing US$ 795.47 million. It is projected to garner US$ 1,244.78 million by 2028 to expand at 7.7% CAGR during 2022–2028.
Based on country, the Asia Pacific school furniture market has been segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 32.1% market share in 2022. It was assessed at US$ 345.77 million in 2022 and is likely to hit US$ 523.08 million by 2028, exhibiting a CAGR of 7.1% during the forecast period.
Key players dominating the Asia Pacific school furniture market are Global Industries Inc; MillerKnoll Inc; Steelcase Inc; and Virco Mfg. Corp, among others.
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