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Industry Insights, Market Size, CAGR, High-Level Analysis: Baby Cribs & Cots MarketThe global baby cribs & cots market size was valued at USD 1.22 billion in 2018 and is estimated to expand at a CAGR of 4.6% from 2019 to 2025. Rising popularity and usage of baby care products, such as strollers, monitors, and cribs, as a result of growing need for advanced baby safety products are expected to spur the growth of the market. In addition, increasing number of nuclear families, particularly in developing countries, will also have a positive impact on the market development. Stringent safety standards incorporated by the U.S. Consumer Product Safety Commission (CPSC) have impelled manufacturers to develop products with advanced safety features. This is also anticipated to fuel the demand for baby cribs and cots, thereby augmenting market growth. Thus, technological advancements by major companies is estimated to drive the product demand further such as, convertible cribs showcasing 3- and 4-in-1 conversions, which can be altered to a toddler bed, day bed, and a full sized bed for babies. For instance, a 3-in-1 convertible crib, which features four different height adjustments and several mattress settings, by Babyletto. North America was the dominant regional baby cribs and cots market in the past. It is said to retain its leading position throughout the forecast years due to high awareness levels about the availability of advanced baby safety products. Asia Pacific, however, is expected to be the fastest-growing regional market from 2019 to 2025 on account of rising number of working individuals and increased consumer disposable income levels.
Product Insights of Baby Cribs & Cots MarketConvertible cribs & cots product segment accounted for the largest share of the global market segment of more than 53% in 2018. The segment will expand further at a steady CAGR from 2019 to 2025 as convertible cribs & cots are cost effective and have easily detachable bed rails and longer durability. Moreover, constant product innovation in the segment will drive the segment further. For instance, Kalani 4-in-1 Convertible Crib by DaVinci Baby, which can be converted into a toddler bed, day bed, and a full sized bed. Multifunctional cribs & cots segment is expected to grow at the fastest CAGR of 5.4% from 2019 to 2025. Multifunctional products incorporate one or more pieces of furniture, which creates more space in smaller nursery. New product developments in this segment is likely to augment the segment growth. For instance, in 2015, Stokke LLC introduced modular and multi-functional nursery, Stokke Home. It includes a dresser, crib, portable cradle, and changer, all of which can be attached to one product or stand individually. Distribution Channel Insights The offline distribution channel segment accounted for the largest market share of more than 75% in 2018. Specialty stores, in particular, led the offline distribution channel segment. These stores have a wide variety of advanced baby safety products such as cradles, prams, stroller, and cribs. Increasing number of hypermarkets and supermarkets across the globe will also fuel the growth of the offline distribution channel segment. The online distribution channel segment is expected to witness the fastest CAGR of 5.0% from 2019 to 2025. Availability of variety of products from different brands and great deals on pricing are driving the segment. Moreover, doorstep delivery services offered by online retailers with flexible payment options is expected to boost the products sales through online channels.
Regional Insights of Baby Cribs & Cots MarketNorth America was the dominant regional market in 2018 and accounted for a share of more than 32%. The market is projected to expand further at a steady CAGR during the forecast years on account of increased awareness levels about the availability of advanced baby care and safety products. In addition, rising number of single parents in the region is driving the product demand further. According to the U.S. Census Bureau 2015, there were approximately 13.7 million single parents in U.S. On the other hand, Asia Pacific is estimated to be the fastest-growing regional market from 2019 to 2025. Some of the key factors responsible for this growth include rising number of working individuals and levels of consumer disposable income. In addition, increasing number of nuclear families in developing countries will have a positive impact on the product demand.
Market Share Insights of Baby Cribs & Cots MarketProminent companies in the global market are Goodbaby International Holdings Ltd.; Delta Children's Products Corp.; Silver Cross; Storkcraft; Dream On Me, Inc.; Sorelle Furniture; Million Dollar Baby Co.; Natart Juvenile, Inc.; and Graco, Inc. These companies focus more on expanding their product line incorporating advanced features to gain a higher industry share. For instance, in 2017, Ford Motor Company introduced The Max Motor Dreams cot.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Baby Cribs & Cots Market Research ReportThis report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global baby cribs & cots market report on the basis of product, distribution channel, and region: Product Outlook (Revenue, USD Million, 2019 - 2030) Convertible Standard Multifunctional Portable Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030) Offline Online
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. GVR’s Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization | read more...