In terms of revenue, the global kids furniture market is estimated to expand at a CAGR of ~6% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in the kids furniture market report.
Kids furniture is specifically designed for kids according to their requirements and needs. Lightweight and compact size are the main features of kids furniture. Increasing population across the globe and rising disposable income are anticipated to fuel the demand for kids furniture in the near future. Growing preference for handcrafted local furniture products and emergence of online retailers are also driving the global kids furniture market. According to the Furniture Industry Research Association (FIRA), some rules and regulations need to be followed by manufacturers, which affect the cost of furniture. This is anticipated to influence the kids furniture market growth during the forecast period.
In this report, TMR analyses that the tables and chairs are estimated to be key product segments by the end of 2027 of the kids furniture market. Low cost and numerous varieties are the major factors impacting the kids furniture market. Increasing demand for multifunctional and compact furniture is expected to surge the demand for cribs, mattresses, and other furniture products. Growing purchasing power and standard of living of the middle class is increasing this segment’s share of the global kids furniture market. Wood is the most preferred raw material in the furniture market. However, the demand for other raw materials such as metal and plastic is also showing significant growth due to cost effectiveness and sustainable features.
Kids Furniture Market: Prominent Regions
North America and Europe dominated the global kids furniture market, owing to the presence of prominent players and significant demand for kids furniture across regions. High demand from the luxury class category segment in North America and Europe is a key factor for the dominance of the kids furniture market in these regions. However, increasing demand from emerging countries of Asia Pacific have made it the fastest growing market for kids furniture. Moreover, rising population and urbanization in several countries such as China, Brazil, and India is fueling the demand for kids furniture. The kids furniture market in Middle East & Africa and South America is expected to experience moderate growth. Improvements in living standards and purchasing power of consumers are also expected to support the growth of the kids furniture market during the forecast period.
Key manufacturers in the kids furniture market are gaining competitive edge by adopting different strategies such as product launches, mergers, and acquisitions. Some manufacturers in the kids furniture market are also expanding through technological advancements in the manufacturing process such as increasing production capacity, so as to meet the growing demand.
Kids Furniture Market: Key Players
The global kids furniture market is highly fragmented. Several major market players have a significant presence across the globe. Key players operating in the global kids furniture market include Ashley Home Stores, Ltd., Bombay Dyeing, Dream On Me Inc., Graco, IKEA, KidKraft, Legaré, Milliard Bedding, Sorelle Furniture, and Summer Infant Inc.
These insights are based on a report on Kids Furniture Market by Transparency Market Research.