Global Kids Furniture Market is Set to Grow at a CAGR of 5.7% Leading to a Revenue of US$ 183.2 Billion by 2031 – TMR Report
Increase in urbanization, rising disposable income, and changing consumer preferences are the primary drivers of the global kid’s furniture market
Wilmington, Delaware, United States, Aug. 09, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global kids furniture market is projected to flourish at a CAGR of 5.7% from 2022 to 2031. As per the report published by TMR, a valuation of US$ 183.2 billion is anticipated for the market in 2031. As of 2023, the market for kids’ furniture is expected to close at US$ 117.7 billion
Increasing disposable income and growing investment in quality and well-designed furniture for children’s rooms, and surging preference for efficient and dedicated, themed spaces for kids in the form of nursery, play, and study rooms, are expected to drive the market for kids’ furniture during the forecast period.
Increasing awareness about child safety and the importance of ergonomic design drives the market. The growing demand for eco-friendly and sustainable kids’ furniture, particularly in environmentally conscious regions drives the market
Increased preference for nuclear families has led to a focus on creating nurturing and engaging environments for children within the household. This has propelled the demand for kids’ furniture’s in urban areas.
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|Market Revenue||US$ 111.4 Bn|
|Estimated Value||US$ 183.2 Bn|
|Growth Rate – CAGR||5.7%|
|No. of Pages||150 Pages|
|Market Segmentation||By Product Type, Price, Material, Application, Distribution Channel|
|Regions Covered||North America, Europe, Asia Pacific, Middle East & Africa, South America|
|Companies Covered||Ashley Global Retail, LLC,, Crate and Barrel, Dream On Me, Inc., Graco, Inc., Inter IKEA Systems B.V., KidKraft, Legare, Milliard Brands, Summer Infant, Inc., Sorelle Furniture|
Key Takeaways from the Market Study
- As of 2022, the Kid’s furniture market was valued at US$ 111.4 billion
- By product type, the cribs segment enjoys high demand, accumulating a high revenue share during the forecast period owing to the increased number of parents buying cribs for their newborns.
- Based on material, the wood segment accounts for the highest market share
- Based on the distribution channel, the online segment is expected to generate high revenue during the forecast period.
Kids Furniture: Key Trends and Opportunistic Frontiers
- The increasing need for kids furniture for schools and playschools due to increase in need for early childhood education and crèche services. Growing urbanization and increasing disposable income contribute to the expansion of the kids’ furniture market
- Increase standard of living and high level of consumer affordability purchase of efficient and versatile consumer good has increased, which is likye to drive the market demand
- Ongoing research and development efforts have led to technological advancements and development to cater to specific age groups and interests
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Kids Furniture Market – Regional Analysis
- North America holds a significant share of the kids’ furniture market due to high disposable income levels and a strong emphasis on children’s well-being. Urbanization and changing lifestyles have led to the demand for functional, space-saving, and aesthetically pleasing kids’ furniture.
- Asia Pacific is projected to dominate the global industry during the forecast period. Rapid urbanization and rising middle-class populations are driving the growth of the kids’ furniture market growth in the region. Parents in countries like China and India are investing in higher quality and more aesthetically pleasing furniture for their children.
The kids furniture market is highly consolidated with the presence of a few market players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global kids furniture market report:
- Ashley Global Retail, LLC,
- Crate and Barrel
- Dream On Me, Inc.
- Graco, Inc.
- Inter IKEA Systems B.V.
- Milliard Brands
- Summer Infant, Inc.
- Sorelle Furniture
Key Developments in Global Kids Furniture Market
- Ashley Furniture has been focusing on creating furniture that can adapt to children’s changing needs as they grow. They offer convertible cribs that can be transformed into toddler beds, daybeds, and full-size beds.
- IKEA has been focusing on sustainability in their kids’ furniture offerings. They have introduced furniture lines made from sustainable materials and have been working on reducing their carbon footprint in the production process. Collaborations with designers and child psychologists have led to innovative designs that prioritize functionality and safety.
- Lil’Gaea is a startup that focuses on eco-friendly and sustainable kids’ furniture. They use non-toxic and natural materials to create furniture that is safe for children and the environment.The company has been gaining attention for its innovative designs that combine aesthetics, functionality, and sustainability.
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Kids Furniture Market – Key Segments
- Others (stools, chest of drawers, etc.)
- Under US$ 25
- US$ 25 – US$ 50
- US$ 50 – US$ 100
- US$ 100 – US$ 200
- Above US$ 200
- Others (rattan, fiberglass, etc.)
- E-commerce Websites
- Company-owned Websites
- Specialty Stores
- Other Retail Stores
- North America
- Asia Pacific
- Middle East & Africa
- South America
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