According to a new report published by UnivDatos Markets Insights, the Kids Furniture Market is expected to grow at a CAGR of around 6% from 2022-2028. The analysis has been segmented into Product (Beds, Cots, & Cribs, Table & Chair, Cabinets, Dressers, & Chests, Mattresses, Others); Material (Wood, Polymer, Metal); End-User (Residential, Commercial); Distribution Channel (Online, Offline); Region/Country.
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The kids furniture market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the kids furniture market. The kids furniture market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Kids Furniture market at the global and regional levels.
Market Overview
A surge in disposable income coupled with the increasing spending on the interior of children’s rooms is one of the prominent reasons contributing to the market growth of kids’ furniture. In a study by Next Home, it was revealed that Parents will spend more than USD 5,800 decorating their child’s nursery and bedroom - before they turn 10. Also, the study of 2,000 mothers and fathers found six in 10 made sure their new son or daughter's room was ready for them before the birth, spending around £853 on furniture, décor, and soft furnishings. Furthermore, 68 % of parents agreed that the design and décor of a nursery are important, spending an average of 20 hours to make sure everything is just so.
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The Kids Furniture Market is expected to grow at a steady rate of around 6% owing to the increasing disposable income and rising number of nuclear families. Major companies in the market offer kids furniture for several purposes such as furniture for gardens, bedrooms, playschools, etc., For instance: in July 2021, Aldi launched a new range of kids' garden furniture, which includes wooden benches, loungers, and tables. Also, Crate & Kids launched products feature trending designs, have multipurpose functions, available in gender-neutral styling and color in 2021.
Some of the major players operating in the market include Cello Group, Cosmoplast Industrial Company LLC, Herman Miller, Inter Ikea Systems B.V., Keter Group, Nilkamal Limited, Pil Italica Lifestyle Limited, Sauder Woodworking Company, Sleep Number Corporation, and Tramontina.
COVID-19 Impact
The COVID-19 pandemic has impacted the global kids furniture industry in numerous ways. The fluctuations in demand material shortages, shipping disruptions, and an emphasis on e-commerce solutions have all influenced both retailer and consumer behaviors. Despite the challenges that most industries have been grappling with over the past two years, the furniture industry has also seen high sales in many areas, especially for retailers that have been able to adapt quickly to new restrictions and needs. Things have begun to settle as many businesses as possible and consumers start to return to normal activities, but many changes and improvements made during the pandemic will continue to influence the industry in the years to come.
The global kids furniture market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
Based on product, the market is segmented into beds- cots & cribs, table & chairs, cabinets, dressers, & chests, mattresses, and others. The beds-cots & cribs segment grabbed the major market share in 2020 and dominated the market. The convenience and ease of use are some of the prominent factors. Also, factors such as the availability of tech-advanced beds and cribs, affordable prices, etc., are contributing to the growth of this segment.
On the basis of material, the market is categorized into wood, polymer, and metals. Among these, the wood segment grabbed the major market share and dominated the market in 2020. Wood is highly preferred for furniture by consumers due to its various advantages. Wood is much stronger in load bearing for both chairs and tables, owing to which wood can support a heavier load without breaking down.
Based on the end-user, the market is fragmented into residential and commercial. The residential segment grabbed the major market share and dominated the market in 2020. The COVID-19 pandemic positively impacted the growth of this particular segment as Schools remained closed and classes were conducted online, it was important to set up a comfortable classroom for the child at home to facilitate learning.
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Kids Furniture Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
North America region grabbed the major market share and dominated the market in 2020. The surging working population in the countries such as the United States and Canada is a key contributing factor to the demand for kids’ furniture in daycare. According to the U.S. Census Bureau, the youngest millennials reached their adulthood in 2020 and accounted for 28% of the U.S. population; they also accounted for 50% of the working population.
However, APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the rising working population, emerging nuclear families, etc., As per United Nations, Department of Economic and Social Affairs, around 41.5% of families in India are nuclear families.
The major players targeting the market include
• Cello Group
• Cosmoplast Industrial Company LLC
• Herman Miller
• Inter Ikea Systems B.V.
• Keter Group
• Nilkamal Limited
• Pil Italica Lifestyle Limited
• Sauder Woodworking Company
• Sleep Number Corporation
• Tramontina
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the kids furniture market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the kids furniture market?
• Which factors are influencing the kids furniture market over the forecast period?
• What are the global challenges, threats, and risks in the kids furniture market?
• Which factors are propelling and restraining the kids furniture market?
• What are the demanding global regions of the kids furniture market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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