Children Furniture Market Poised for $48.9 Billion Growth by 2030, Led by Residential Segment

According to a new report published by Allied Market Research, titled, "Children Furniture Market by Type, Material, End User and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030," The research provides a current evaluation of the global market landscape, highlighting recent trends, key drivers, and the overall market environment. The study examines the main factors influencing industry expansion, analyzing both its growth drivers and restraints. Additionally, it sheds light on factors expected to offer promising opportunities for development of industry in the future. The global children furniture market size was valued at $26.6 billion in 2020, and is projected reach $48.9 billion by 2030, registering a CAGR of 5.6% from 2021 to 2030.

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The global children furniture market size was valued at $26.6 billion in 2020, and is projected reach $48.9 billion by 2030, registering a CAGR of 5.6% from 2021 to 2030. The wood segment led in terms of global market share and is expected to retain its dominance during the forecast period.

Surge in expenditure on children-associated products and increase in advertising through social media and digital marketing drive the growth of the global children furniture market. However, rise in raw material prices and negative impact on the environment are the factors that hinder the market growth. On the other hand, increase in online shopping and usage of 3D printers present new opportunities in the coming years.

Increase in population density in metro cities has been majorly driving the growth of the children furniture industry. People are majorly migrating from rural areas to metro cities in search of job opportunities and are bringing their families along with them. About 55% of the global population was living in urban areas in 2018; however, this number is expected to surpass 68% by the end of 2050. This migration creates potential opportunities for real estate, hotels & restaurants, hospitals, and clinics, where various types of furniture, including children furniture products are required, thus increasing the demand for children furniture. Rise in urbanized population is creating huge demand for children furniture, thus driving children furniture market growth.

Based on type, the beds, cots & cribs segment accounted for the largest share in 2020, holding more than two-fifths of the total share, and is estimated to continue its leadership status throughout the forecast period. However, the cabinet, dressers & chests segment is projected to manifest the highest CAGR of 7.0% from 2021 to 2030.

Based on sales channel, the offline channels segment contributed to the highest share in 2020, accounting for more than four-fifths of the global children furniture market, and is estimated to maintain its lead position throughout the forecast period. However, the online channels segment is expected to register the fastest CAGR of 6.3% from 2021 to 2030.

Based on region, North America held the highest market share in 2020, contributing to nearly two-fifths of the total share, and is expected to continue its lead in terms of revenue by 2030. However, Asia-Pacific is estimated to portray the largest CAGR of 8.5% during the forecast period.

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Leading players of the global children furniture market analyzed in the research include Cello Group, Herman Miller, Cosmoplast Industrial Company LLC, Keter Group, Sleep Number Corporation, Inter IKEA Systems B.V., Pil Italica, Nilkamal Limited, Sauder Woodworking Company, Lifestyle, and Tramontina.

The Covid-19 pandemic has a vital impact on the growth of the global Children Furniture Market and altered several market scenarios. The lockdown across various countries and ban on international travel has disrupted the supply chain and revenue chain. The report includes a thorough analysis of the Covid-19 pandemic on the growth of the global Children Furniture Market. Owing to online education and classes during the Covid-19 pandemic, the demand for children's furniture increased. However, the demand has been increased due to lockdown measures and restrictions on offline sales channels.

Analyst Review

According to the CXOs of leading companies, there has been rise in demand and purchase of furniture for children and toddlers in the past few years. This rise in demand can be attributed to an increase in the spending power of parents and their willingness to purchase furniture for their children. Increased awareness about the existence of such specialized furniture, especially amongst the new millennial parents is contributing to the proliferation of the market.

Furniture made for children is smaller in size and shape as compared to regular furniture. They may also include aesthetic designs and imagery containing flower, birds, and animals to make them more visually appealing. Most children furniture have vibrant color palettes to attract attention and to mimic the playful nature of children. Furniture made from wood and plastic is most commonly used in residential areas, kids' bedrooms, and play areas. Metal furniture witnesses more usage in schools and daycares, as the furniture in these places need to be extra sturdy to avoid wear and tear.

Key Benefits For Stakeholders:

• The report provides an extensive analysis of the current and emerging children furniture market trends and opportunities.
• The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing children furniture market opportunities in the market.
• The children furniture market forecast is offered along with information related to key drivers, restraints, and opportunities.
• The market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
• The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

Reasons to buy Children Furniture Market Report:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global children furniture industry.
• Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
• The key findings and recommendations highlight crucial progressive industry trends in the children furniture industry, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth to a certain extent.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

Enquire Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/14080

Read More Trending "AMR Exclusive Insights:

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