New York, United States, April 22, 2024 (GLOBE NEWSWIRE) -- Chairs, tables, cabinets, mattresses, and bookcases are among the objects that are sometimes referred to as "furniture." When someone says "furniture," they refer to all the objects in a residence that can be used for sitting, lying down, or holding smaller items such as cups and towels. In other words, when a person refers to furniture, they mean all the items in a residence. These items are scattered throughout the home in various locations. The grade of the materials used to create a piece of furniture also significantly impacts its appearance. This is especially true for timber furniture.
When it comes to furniture, using inferior materials typically results in an inexpensive and inadequately constructed appearance. This is due to the correlation between the final product's aesthetic quality and the basic materials' quality. This is true regardless of the article's writing manner. On the other hand, furniture crafted from superior materials is more likely to be skilfully crafted and have a refined appearance. Working with superior materials is more difficult due to using high-quality basic materials during manufacturing.
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Increase in Birth Rate Drives the Global Market
According to the World Economic Forum, Europe has a problem with a low fertility rate, which causes healthcare and pension issues. As a result, some nations are instituting policies to encourage more births. European governments provide financial incentives of up to USD 2,235 per birth to increase the birth rate and encourage families to have more children. According to the United Nations, two-thirds of European nations have implemented policies to increase fertility rates, such as paid parental leave, tax incentives, and infant bonuses, with varying degrees of success. The measures taken by the government to increase the birthrate in the region will Favor the market for children's furnishings. The governments of numerous nations have taken various steps to reverse the decline.
Focus on Environmentally Friendly and Sustainable Products Creates Tremendous Opportunities
Various industries, including furniture, have seen increased demand for eco-friendly and durable products due to increasing environmental concerns. This increase in demand is due to the expanding number of individuals concerned about the environment. There is a desire for manufacturers to market children's furniture made with environmentally friendly materials and production methods. The number of opportunities available to manufacturers has increased due to this demand. This involves using non-toxic coatings, recyclable materials, and wood from sustainably managed forests.
Key Highlights
- The global kid's furniture market size was valued at USD 42.2 billion in 2022. It is estimated to reach USD 85.06 billion by 2031, growing at a CAGR of 8.1% during the forecast period (2023–2031).
- Based on the product, the global kids’ furniture market is bifurcated into beds, cots and cribs, tables and chairs, cabinets, dressers and chests, and mattresses. The Beds, Cots and Cribs segment dominates the global market and is projected to exhibit a CAGR of 16.0% over the forecast period.
- Based on raw materials, the global kids’ furniture market is segmented into Wood, Polymer, and Metal. The Wood segment dominates the global market and is predicted to exhibit a CAGR of 16.4% during the forecast period.
- Based on application, the global kids’ furniture market is bifurcated into commercial and household. The Household segment owns the highest market share and is predicted to exhibit a CAGR of 14.5% over the forecast period.
- North America is the most significant global kid's furniture market shareholder and is estimated to exhibit a CAGR of 15.2% over the forecast period.
Regional Analysis
North America is the most significant global kids' furniture market shareholder and is estimated to exhibit a CAGR of 15.2% over the forecast period. An increase in childcare or daycare service providers in North America is a key contributing factor to the demand for kids’ furniture.
Additionally, the rise in on-site childcare services— supported by government initiatives to encourage working mothers—has also been contributing to the growth of the kids’ furniture market. The rising trend of employers offering onsite or near-site childcare facilities for their employees is expected to drive the demand for kids’ furniture over the forecast period. Furthermore, there is an increase in the number of daycare and early education centers across North America as the demand for early education has grown rapidly.
Europe is anticipated to exhibit a CAGR of 16.0% over the forecast period. The growth of the European market is mainly attributed to the growing demand for residential furniture in the region. The market participants in the region have shifted their production to other regions/countries to reduce production costs and increase operational efficiency. Western European countries, such as the U.K., Germany, and France, are witnessing the growing trend of housing renovations and increased demand for residential dwellings, as well as the trend of a separate room for kids, which is favoring the market growth. Furthermore, these countries have a strong presence of manufacturers and distributors, which keeps the prices under check.
Moreover, the increasing presence of online retailers will drive product sales. For instance, KIDSKRAFT offers a wide range of kids' furniture online. The product category includes kids' table and chair sets, bookcases and shelves, toy boxes and benches, bin units, and kids' desks. Furthermore, educational furniture is important in forming a dynamic learning environment that benefits students' physical health. A constant demand for ergonomically designed products for preventing health problems and providing a comfortable learning environment among teachers and students will support the application's growth. Introducing dynamic and interactive teaching styles, including blended learning and flipped classrooms, is transforming the industry landscape.
Market News
- In 2023, 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.
- In 2023, 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.
Global Kids Furniture Market: Segmentation
By Product
- Beds, Cots and Cribs
- Table and Chair
- Cabinets
- Dressers and Chests
- Mattresses
- Others
By Raw Material
- Wood
- Polymer
- Metal
By Applications
- Commercial
- Household
By Regions
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
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