Industry Insights, Market Size, CAGR, High-Level Analysis: Kids Furniture Market
The global kids furniture market size was valued at USD 29.4 billion in 2018 and is expected to exhibit a 4.48% CAGR over the forecast period. Rising spending on nursery rooms, playroom, and study room decor is expected to drive the growth. The parents prefer incorporating clothes, books, toys, and other products at one place for convenience and decluttering. This factor is projected to drive the demand for multifunctional furniture. Rising real estate prices are expected to impact the sizes of houses and childrens rooms, which is projected to create growth opportunities for the companies offering compact, easy-to-move, and assemblable furniture for kids rooms.
Rising preference for furniture with durable material, multifunctionality, and bring colors is expected to create growth opportunities for the market players. Rising popularity of theme based interior decor is anticipated to fuel the demand for furniture suitable for such themes. For instance, if the consumers choose a space, sea world, forest, library, or such other themes, they look for furniture with colors and shapes suitable for those themes.
Rising inclination toward 3D printed furniture is expected to remain a key trend in the market. Consumers looking for customized furniture better suitable for their individual decor needs, find perfect solution in 3D printing. This type of material is built quicker than the conventional techniques as the technology is capable of concretizing even the complex of designs in little time. This also efficiency stops the wastage of raw material and thus, reduces the overall cost.
Organizations have been emphasizing on improving the design and easy assembly of parts to build the furniture. IKEA, a major furniture manufacturer, has been continuously creating furniture which are easy to assembly. They make sure to keep their number of pieces as low as 10. The simple design promotes easy and self-assembly of the products. Another popular innovation is addition of the feature of smart temperature regulation. Kids are extremely sensitive to temperature and a discomfort related to this can interrupt their sleep. The smart temperature sensors offers auto warming or cooling of the cribs and beds to establish suitable temperatures.
Product Insights of Kids Furniture Market
Beds, cots, and cribs held the largest market share of more than 40% in 2018. These are the most common furniture articles for kids rooms. This factors is projected to drive the growth of the segment in the forthcoming years. Deployment of bunk beds in residential schools, especially metal bunk beds is expected to create growth opportunities for the market players. These products are also available in the form of twin beds. Hospitals also use advanced wood and metallic cribs for the newborn babies, which is projected to positively influence growth of the childrens furniture market.
The cabinets, dressers, and chests segment is projected to register the fastest CAGR of 5.4% from 2019 to 2025. Deployment of cabinets, chests, and drawers in kids rooms to inculcate organization skills in the kids is expected to drive the product demand in the forthcoming years. These products help categorize clothes, books, and toys and are easily adjusted in floors as well as walls. Availability of multifunctional storages stools, activity tables, loft beds with drawers, and such other products is expected to drive the product sales in this segment in near future.
Application Insights of Kids Furniture Market
Household application accounted a market share of more than 60% in 2018. The dominance is attributed to a growing trend of procuring a complete set of kids room furniture including bed, cabinet, table, and chairs. Buying products in sets saves cost and also helps consumers match the appropriate decor. Additionally, the trend of creating a separate space for kids, to help better growth and enjoyment is also propelling the growth of the segment.
Commercial application is expected to register the fastest CAGR of 4.7% from 2019 to 2025. Growing number of schools, daycare centers, and boarding schools is leading to the increasing requirements for these products in the commercial sector. Rising child care or daycare centers is expected to positively influence the product demand as these centers focus on creating comfortable and familiar environment for the kids.
Material Insights of Kids Furniture Market
Wood furniture exceeded a market share of 60% in 2018. Kids wood furniture is available in hardwood and softwood varieties. Hardwood articles are comparatively expensive and are sourced from maple, oak, ash, birch, cherry, beech, teak, rosewood, mahogany, and walnut trees. These products are durable in nature and require low maintenance. On the other hand, softwood furniture is sourced from pine, spruce, fir, larch, hemlock, cedar, juniper, redwood, and yew. They have the ability to absorb adhesive, with better finishing and light weight.
Polymer is expected to be fastest growing market segment with a CAGR of 5.1% from 2019 to 2025, owing to the inexpensiveness of the product. Polymer is durable in nature and can tolerate rough usage. Furthermore, it is easy to maintain and clean, which makes it suitable for kids rooms. Plastic has been known for its hazardous affects and thus research regarding the kind of polymer to be used for safe furniture for kids is prevalent in the market. For instance, polyethylene is recommended over polypropylene as the former is a thermoplastic and thus, can be easily remolded.
Regional Insights of Kids Furniture Market
Europe held the largest market share of 40% in 2018. The region is expected to remain a strong foothold of childrens furniture market players, especially in countries such as Germany, U.K., France, and Italy, who maintained their market presence in offline and online segments on a domestic level.
Asia Pacific is expected to witness the fastest CAGR of 5.4% from 2019 to 2025. Japan, China, India, and Australia are some of the major consumers in the region. A growing demand for English and American styled kids furniture in Far East countries, including Taiwan, South Korea, Japan, and Philippines is expected to drive the regional growth. Furthermore, significantly high birth rate in the region is expected to fuel the regional product demand. Increasing employed population in countries including China, India, Bangladesh, South Korea, Maldives, and Indonesia has contributed to the improved socio-economic status of the consumers. This factor is anticipated to drive the product demand in near future.
Market Share Insights of Kids Furniture Market
Key market players include Williams-Sonoma Inc.;Hooker Furniture; Bassett Furniture Industries; Lulu and Georgia; BABYLETTO; Blu Dot; Casa Kids; Circu; Crate and Barrel; and Wayfair. Product launches play a crucial role for the market growth and the organizations have understood the potential of new product launches for gaining greater foothold. In July 2019, the furniture chain Freedom, launched a new product range called Freedom Kids. The product is available in two varieties, namely Luca Lion and Dream Cloud. Accent and the Iconic are the other organizations to have launched similar products.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Kids Furniture Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global kids furniture market report on the basis of product, raw material, application, and region:
Product Outlook (Revenue, USD Million, 2019 - 2030)
- Beds, Cots & cribs
- Table & Chair
- Cabinet, Dressers & Chests
Raw Material Outlook (Revenue, USD Million, 2019 - 2030)
Application Outlook (Revenue, USD Million, 2019 - 2030)