The global children’s furniture market size is estimated to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the surge driven by increased expenditure on the nursery, playroom, and study room décor.
Kids' furniture is made and created specifically for children of varying ages to offer them comfort in a variety of settings. This style of furniture may be utilized in a variety of settings, including households, hospitals, playschools, and residential schools. Kids' furniture may also be seen as instruments that help youngsters gain self-confidence and independence, which improves their physical and mental development. Chairs, beds, dressers, bookshelves, and other items are examples of children's furniture.
The demand for children's furniture is predicted to rise as real estate prices rise in tandem with rising buying power. There is a surge in demand for furniture that can store clothing, books, toys, and other items in a space-saving manner. In light of this, the worldwide kid's furniture market is expected to rise at a CAGR of 4.1% in the coming years. During the projected period, the growing population and urbanization in emerging nations are likely to provide profitable possibilities for makers of children's furniture.
Due to the coronavirus, manufacturing and selling enterprises dealing with children's furniture are experiencing production challenges as factories are shut down and the supply chain is completely affected. Companies are also experiencing difficulties with raw material availability, as well as a scarcity of employees and resources, as a result of the coronavirus outbreak, which has hindered worldwide market growth.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing consumer preferences for furniture with sturdy materials, multifunctionality, and vivid colors are estimated to spur the market during the forecast period.
- The rising purchasing power of parents for the children’s furniture is projected to boost the market expansion.
- R&D investment and technological advancements such as solid ash wood and 3D mesh fabric are anticipated to create lucrative opportunities for the market players.
Market Segment Insights
The tables and chairs segment are projected to account for a major market share
In terms of types, the global children’s furniture market is bifurcated into bed, tables and chairs, and others. The tables and chairs segment are expected to constitute a key share of the market during the forecast period owing to migration to metropolitan regions and metro cities in various emerging nations is resulting in the development of small flats. On the other hand, the bed segment is anticipated to expand at a rapid pace during the forecast period due to the rise in customers' disposable and improvement in their standard of living through better-furnished beds.
0-4 years segment is expected to grow at a robust pace
Based on applications, the global children’s furniture market is divided into 0-4 years, 5-12 years, and 12-18 years. The 0-4 years segment is expected to hold a key share of the market during the forecast period due to trending designer furniture for small children, especially in this pandemic. On the other hand, the other segments are anticipated to expand at a substantial CAGR.
Europe is expected to dominate the market
On the basis of regions, the global children’s furniture market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Europe is anticipated to expand at an impressive or healthy CAGR during the forecast period. European households, which account for more than 35% of the global market share, have a significant impact on global market dynamics. East Asia and North America come in second and third, respectively, accounting for more than two-fifths of the market. South Asia is another location worth mentioning, as countries like India are cultivating individual home economies with enormous future potential. E-Commerce behemoths have been drawn to the Asia Pacific by lucrative potential, with plans to capitalize on the expanding online buying trend. India, for example, is one of Asia Pacific's most powerful economies. E-Commerce platforms such as Pepperfry are positive on the kid’s furniture market, owing to a growth in the number of online buyers in India.
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