Kids Furniture Global Market Report 2023
Major players in the kids furniture market are Williams Sonoma Inc., Wayfair Inc., Blu Dot, KidKraft, Sorelle Furniture, Circu Magical Furniture, Crate and Barrel, Casa Kids, IKEA, Billion Dollar Baby Co.
New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Kids Furniture Global Market Report 2023" - https://www.reportlinker.com/p06479800/?utm_source=GNW , First Cry, Ashley Furniture Industries, Legare, Summer Infant Inc., and Cello Group.The global kids furniture market is expected to grow from $46.14 billion in 2022 to $55.34 billion in 2023 at a compound annual growth rate (CAGR) of 19.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The kids furniture market is expected to reach $108.8 billion in 2027 at a CAGR of 18.4%.The kid’s furniture market consists of sales of toddler beds, bunk beds, dressers and chests, playroom furniture and others.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Kid’s furniture is any fixed or moveable furniture designed with children’s anatomical dimensions and ergonomic requirements in mind. These pieces of furniture encourage excellent posture and allows kids to sit comfortably.North America was the largest region in the kids furniture market in 2022. The regions covered in kid’s furniture report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of products included in kids furniture are beds, cots and cribs, tables and chairs, cabinets, dressers and chests, mattresses, and others.A mattress is a piece of bedding that is used as a place to sleep or rest.It is typically rectangular in shape and consists of layers of materials that provide support and comfort to the body.It comes in various styles and materials, including memory foam, innerspring, and latex.The materials are wood, polymer, and metal, that uses online and offline distribution channels. The applications are residential and commercial.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.Product innovations are a key trend gaining popularity in the kid’s furniture market.Companies operating in the kid’s furniture market are innovating new products to sustain their position in the market.For instance, in January 2020, Cradlewise, a US-based electronics and baby products manufacturing company, launched Smart Crib for babies.The baby crib is designed with advanced artificial intelligence (AI) technology that observes and analyzes the baby’s sleeping patterns, detects the initial signs of waking up, and automatically initiates bouncing movements along with playing music to help lull the baby back to sleep.The Cradlewise crib is equipped with a built-in baby monitor that detects early signs of waking up, which is essential for ensuring the baby’s sleep is protected and undisturbed.In January 2022, Network of Design, a Sweden-based retail furniture and home furnishings company acquired Kid’s Concept for an undisclosed amount.With this acquisition Network of Design is expected to broaden its export capabilities.By acquiring Kid’s Concept, the Network of Design may gain access to new markets and customers that Kid’s Concept currently serves, which could help increase the company’s overall sales and profitability. Kid’s Concept is a Sweden-based design company that manufactures kid’s toys and furniture.The countries covered in the kid’s furniture market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The kid’s furniture market research report is one of a series of new reports that provides kid’s furniture market statistics, including kid’s furniture industry global market size, regional shares, competitors with a kid’s furniture market share, detailed kids furniture market segments, market trends, and opportunities, and any further data you may need to thrive in the kid’s furniture industry. This kid’s furniture market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: https://www.reportlinker.com/p06479800/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________