Kids’ furniture is becoming increasingly popular among parents across the world. This type of furniture is designed to meet the ergonomic requirement of children. It is available in small and compact forms. Kids’ furniture assists in promoting good posture and creativity. It also helps in accelerating the learning of practical skills among children. Children’s outdoor furniture such as garden playhouses, climbing structures, and rocking horses are increasingly witnessing traction across the globe. Furniture for kids, including daycare furniture, is considered mandatory in preschools and daycare centers. Rise in establishment of preschools and day centers is estimated to augment the kids furniture market size during the forecast period. Luxury furniture players are also increasingly targeting the kids segment by offering modern furniture that enhances the overall look and feel of a home. This is expected to play a significant role in driving the market in the near future.
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Rise in School Funding and Promotion of Education to Fuel Global Kids’ Furniture Market
Governments of countries across the globe are increasingly prioritizing the funding of schools owing to the rise in awareness about the importance of providing a good education. This is leading to a growth in investment in kids’ school furniture. The emphasis on providing education to children from underprivileged families is also rising across the globe. Thus, the number of children attending schools has increased significantly. According to Our World in Data, the number of children not attending schools stood at 104 million in 1999 and declined to 58 million in 2019. This is anticipated to augment the demand for kids’ furniture across the globe.
Increase in Number of Dual-income Parents and Urbanization to Propel Demand for Kids’ Furniture
Rise in number of dual-income parents has resulted in an increase in spending ability on various household products, including kids’ furniture. According to the data presented by Statistics Korea, 46% of married couples in South Korea, i.e. about 5.66 million households, had double income in 2019. Rapid urbanization is also anticipated to contribute to the growth of the kids’ furniture market. Large numbers of parents in urban places are being exposed to different types of attractive kids’ furniture products. According to the World Bank, 56% of the global population was residing in urban areas in 2019, up from 55% in 2018.
Ability to Encourage Independent Sleep Bolstering Cribs Segment
In terms of product type, the cribs segment held dominant share of the global kids’ furniture market in 2021. New parents are increasingly purchasing cribs, as cribs encourage independent sleep for babies. Parents can also sleep better when babies sleep peacefully. Thus, the cribs segment accounts for major share of baby & kids’ furniture. The cribs segment’s position in the baby furniture market share is poised to increase in the near future.
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Availability of Wide Range of Products at Affordable Prices for Middle Class Category
In terms of category, the middle class segment is anticipated to hold the leading share of the global kids’ furniture market during the forecast period. This can be ascribed to the presence of a wide range of products at affordable prices for the middle-income customers. Kids’ furniture manufacturers & suppliers are prioritizing the production of a broader range of children’s furniture products due to the rise in demand for kids’ furniture among the middle class segment.
Regional Outlook of Global Kids’ Furniture Market
Asia Pacific held large share of the global kids’ furniture market in 2021. High birth rate in countries in Asia Pacific such as Inia and China is fueling the demand for kids’ furniture products in the region. According to Our World in Data, countries in Asia recoded 133.97 million births in in 2021. This was the highest in comparison to other regions across the globe.
Europe and North America also accounted for vital share of the global kids’ furniture market in 2021. Parents in these regions often provide their children with a personal bedroom from a very young age. Thus, rise in demand for kids’ bedroom furniture in the residential sector is expected to propel the market in these regions in the near future. Large number of parents in Europe and North America use kids’ furniture to teach practical skills such as dining manners, drawing, and writing to their kids. This is also anticipated to drive the demand for kids’ bedroom & lounge furniture in Europe and North America.
Demand for kids’ furniture is expected to rise at a steady pace in Middle East & Africa and South America during the forecast period. Growth in establishment of malls and shopping centers has led to an increase in kids’ furniture showrooms in these regions. Parents in these regions are also are increasingly spending on furniture for children. This is projected to drive the kids’ furniture market in Middle East & Africa and South America in the next few years.
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Analysis of Key Players in Global Kids’ Furniture Market
Players operating in the kids’ furniture market are increasingly focusing on incorporating popular cartoon characters in order to create a particular set of theme for kids’ furniture. The usage of favorite cartoon characters of kids is anticipated to boost the sales of such products. For instance, Joyo, a kids’ furniture brand, offers Marvel cartoon character based study tables for children. Prominent players operating in the kids’ furniture market are Ashley Furniture Industries, Crate and Barrel, Dream On Me Inc., Graco, IKEA, KidKraft, Legaré, Milliard Bedding, Summer Infant Inc., and Sorelle Furniture.
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