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Kids Furniture Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global Kids Furniture products market was valued at USD 8.5 billion in 2022 and is projected to expand at a CAGR of 6.5% from 2023 to 2030. The increasing number of nuclear families and the growing demand for premium furniture are driving the demand for kids furniture products. Moreover, the growing global population and the rising disposable incomes of people are further boosting the demand for these products. Additionally, increasing parental concerns about the safety of children is encouraging parents to invest in advanced furniture products.
Moreover, the rising trend of digitalization is encouraging manufacturers to introduce furniture products that are designed with digital features. For instance, in April 2021, Wayfair Inc. launched a new digital platform for kids furniture products. This platform provides an array of options for kids furniture products such as beds, desks, and storage solutions. Additionally, the platform provides various customization options such as colors, styles, and sizes.
Furthermore, the growing trend of modular furniture is further creating opportunities for the market. Modular furniture products are designed to provide better space utilization and easy assembly. Additionally, the rising trend of smart furniture products is expected to drive the market growth in the forecast period. Smart furniture is designed to meet the growing needs of customers. For instance, in April 2021, IKEA launched a smart furniture range for kids. This range includes beds, desks, and storage solutions, which are equipped with LED lights and built-in power outlets.
Furthermore, the rising trend of online shopping has provided a boost to the market. The availability of a wide variety of furniture products online is expected to drive the market growth in the forecast period. Moreover, the rising trend of e-commerce is encouraging manufacturers to introduce furniture products with features such as easy assembly and space utilization. Additionally, the rising trend of rental services for furniture products is also creating opportunities for the market. For instance, in March 2021, Feather announced the launch of a new subscription-based furniture rental service for kids. This service provides customers with a wide variety of furniture products such as beds, chairs, and tables.
Product Insights
The beds segment is anticipated to hold a significant share of the market, owing to the increasing number of households with children and rising demand for comfortable and safe furniture for kids. According to an article published by the United Nations, in June 2020, the number of households with children is expected to increase significantly in the years to come. Furthermore, the rising disposable income of middle-class households and the increasing number of nuclear families are likely to create high demand for kids furniture.
The cribs and cradles segment is expected to witness significant growth over the forecast period. Increasing product innovations, such as those that feature adjustable heights, built-in storage, and the ability to convert into a bed, are propelling the segment growth. In addition, rising concerns about infant safety and the increasing use of eco-friendly materials are driving manufacturers to innovate and introduce eco-friendly cribs and cradles. Furthermore, the rising demand for modern and hi-tech products is expected to create potential opportunities for the segment.
Distribution Channel Insights
The supermarkets and hypermarkets segment accounted for a major share of 45.7% in 2022. The growth of this segment is attributed to the rising consumer preference for shopping at supermarkets and hypermarkets for kids furniture products. Moreover, the presence of a wide variety of products at these stores has attracted customers, who can check the quality of the product in person and purchase it. Additionally, the availability of discounts and offers at supermarkets and hypermarkets is another major factor driving the growth of this segment.
The online segment is expected to register the highest CAGR of 10.3% from 2022 to 2028. The growth of this segment can be attributed to the increasing number of e-commerce websites offering kids furniture products. For instance, in 2019, Amazon launched a dedicated online store for kids furniture products. This store offers a wide selection of furniture products, including beds, dressers, desks, chairs, and storage. Furthermore, the availability of discounts and offers on online platforms is another major factor driving the growth of this segment.
Type Insights
The traditional segment is expected to hold the largest revenue share of 47.3% in the year 2022. The traditional segment is characterized by simple and classic designs. The rising demand for traditional furniture among parents is attributed to the fact that it is cost-effective and has a timeless look. Moreover, the emergence of several local and regional vendors offering traditional designs is expected to fuel the segment growth.
The modern segment is projected to expand at the highest CAGR of 7.1% during the forecast period. The modern segment is characterized by its contemporary designs, vibrant colors, and futuristic shapes. The increasing trend of modern furniture among parents is attributed to its uniqueness and its ability to blend with the interior of the home. Moreover, the availability of modern furniture with storage facilities, such as bunk beds, is also propelling its demand. Additionally, the emergence of online stores offering a wide variety of modern furniture is anticipated to drive the segment growth.
Regional Insights
Europe is expected to hold the largest share of the kids furniture products market by 2022. The increasing number of nuclear families and the rising trend of having a separate room for kids in the households are the key factors driving the market growth in the region. In addition, the rising trend of custom furniture for children in the region has led to the emergence of several startups who offer customized furniture. For instance, in June 2021, the UK based startup, Little U, launched a new range of custom-made furniture for kids.
Asia Pacific is another region exhibiting a high growth rate in the kids furniture products market. The growing population and rising disposable income in the region are the key factors driving the growth of the market. Moreover, the increasing demand for smart furniture products is also expected to boost the market growth in the region. For instance, in January 2022, Singapore based startup, SleepyCabin, launched a range of kids furniture products, equipped with smart technology such as voice commands, motion sensors and more.
Financial Projections
In this part of the kids furniture products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your kids furniture products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a kids furniture products business comes from sales of the furniture, as well as from the sale of associated accessories, such as bedding, rugs, and pillows. Here you will find a list with a description of each of these and other possible sources of profit such as providing custom furniture designs and manufacturing services.
Projecting Expenses
In this section, all the regular expenses related to keeping the kids furniture products business running will be described. The list of operating expenses includes salaries, rent/mortgage, furniture purchasing costs, shipping and delivery, advertising, taxes, utilities, and other miscellaneous costs.
Key companies & market share insights
Some of the key companies operating in the kids furniture market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, IKEA launched its new line of kids furniture, featuring colorful designs and playful shapes.
– In August 2022, Kidspace Furniture launched its new range of beds, tables, and chairs designed with kids in mind.
– In October 2022, Little Seeds Furniture launched a new range of desks and chairs designed for kids.
Some of the prominent players in the kids furniture market include:
– IKEA
– Little Seeds Furniture
– Kidspace Furniture
– Wayfair
– Walmart
– Pottery Barn Kids
– Target
– Ashley Furniture
– Rooms to Go
– Crate & Kids
Global Kids Furniture Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global kids furniture products market based on product, distribution channel, material, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Beds
– Tables & Chairs
– Storage
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Material Outlook (Revenue, USD Million, 2017 – 2030)
– Wood
– Metal
– Plastic
– Others
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Drivers for the Kids Furniture Market?
[A]: The key drivers for the kids furniture market are the increasing spending on children’s furniture, rising demand for multi-functional furniture, and growing awareness about safe and ergonomic furniture. Additionally, the growing popularity of online shopping, availability of a wide range of furniture options, and increased focus on health and safety standards are driving the growth of the market.
[Q]: What are Some of the Recent Trends in the Kids Furniture Market?
[A]: Recent trends in the kids furniture market include the growing demand for multi-functional furniture, the increasing popularity of customization, and the emergence of smart furniture. Additionally, there is a growing trend towards eco-friendly and sustainable furniture and child-friendly designs.
[Q]: Who are the Major Players in the Kids Furniture Market?
[A]: Some of the major players in the kids furniture market include IKEA, Ashley Furniture Industries Inc., Flexa, LifeTime Kids Rooms, and KidKraft.
[Q]: What are the Key Regions for the Kids Furniture Market?
[A]: The key regions for the kids furniture market include North America, Europe, Asia Pacific, and Rest of the World.
[Q]: What is the Potential of Product Innovation in the Kids Furniture Market?
[A]: Product innovation is a key driver for the kids furniture market. Companies are introducing new features, such as adjustable heights and storage spaces, to offer more flexibility and convenience. Additionally, there is a growing trend towards eco-friendly and sustainable furniture, as well as child-friendly designs.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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