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Kids Furniture Market 2024 - By End-User Analysis, Competitive Landscape And Industry Overview 2033
Kids Furniture Market
According to The Business Research Company's, The kids furniture market size has grown rapidly in recent years. It will grow from $55.34 billion in 2023 to $66.32 billion in 2024 at a compound annual growth rate (CAGR) of 19.8%. The growth in the historic period can be attributed to population growth and demographics, changing consumer lifestyles, urbanization, influence of media and trends, safety standards and regulations, e-commerce growth.
The kids furniture market size is expected to see rapid growth in the next few years. It will grow to $128.11 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%. The growth in the forecast period can be attributed to smart and interactive furniture, focus on ergonomics, parental emphasis on learning furniture, globalization of design, rise in single-child families. Major trends in the forecast period include virtual and augmented reality shopping, collaborations with popular brands, subscription-based models, smart storage solutions, licensed and themed furniture, personalized and customizable option.
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Market Drivers and Trends:
The increase in the children population is expected to propel the growth of the kid's furniture market going forward. Children population refers to the number of individuals who are below a certain age threshold, typically defined as anyone under the age of 18. A larger population of children generally means an increase in demand for furniture designed specifically for children, such as beds, dressers, and desks. This increased demand can create a larger market for companies that specialize in kid's furniture, leading to higher sales and profits. For instance, in 2021, according to Centers for Disease Control and Prevention, a US-based Government agency, the United States claimed 3,659,289 birth in 2021, an increase of 1% from 3,613,647, which showcases the numbers of birth in 2020. Therefore, the rise in the children population is driving the growth of the kid's furniture market.
Major companies operating in the kid's furniture market are developing innovative nature-inspired products to gain a competitive edge in the market. For instance, in August 2022, H & M Hennes & Mauritz AB, a Sweden-based clothing company, launched kids' furniture collection, offering a range of styles for children of all tastes. The collection includes classic pieces like a functional table with smart features, matching chairs, and a versatile storage bench in various colorways. Nature-inspired rattan furniture, featuring a miniature lounge chair, sofa, table, and playful stool, adds a whimsical touch to children's rooms. It also featrued colorful and playful furniture pieces, including a chair with cloud-inspired edges, a puzzle-inspired table, and charming stools in vibrant colors. The collection also includes soft squishy toys, tableware, and creative accessories, providing a variety of options to suit different preferences.
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Major Key Players of the Market:
Williams-Sonoma Inc.; Wayfai Inc.; Blu Dot Inc.; KidKraft Inc.; Sorelle Furniture LLC; Circu Magical Furniture Inc.; Crate and Barrel Holdings Inc.; Casa Kids LLC; IKEA Group; Billion Dollar Baby Co. LLC; First Cry Retail Services Private Limited; Ashley Furniture Industries Inc.; Legare Furniture Group LLC; Summer Infant Inc.; Cello Group Holdings Limited; Berkshire Hathaway Inc.; Rooms to Go Inc.; Bambizi LLC; Gigi Brooks Interiors Inc.; Lulu & Georgia Inc.; Babyletto Inc.; Disney Consumer Products Games and Publishing Inc.; Sanrio Inc.; Dreamyears Inc.; Dream On Me Inc.; Milliard Bedding LLC; Bombay Dyeing & Manufacturing Company Limited; Delta Children Inc.; Storkcraft Manufacturing Inc.; Graco Children's Products Inc.
Kids Furniture Market 2024 Key Insights:
• The kids furniture market size will grow to $128.11 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%.
• Surge In Children Population To Drive Market Growth
• Product Innovations Transforming The Kid'S Furniture Market
• North America was the largest region in the kids furniture market in 2023
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