Global children’s furniture market to generate $ 48.9 billion by 2030: Allied Market Research
Rising spending on products aimed at children and increasing advertising through social media and digital marketing is driving the growth of the global children’s furniture market. North America held the highest market share in 2020 and is expected to maintain its lead in terms of revenue by 2030. Due to education and online courses during the Covid-19 pandemic , the demand for children’s furniture has increased.
Portland, OR, Oct 06, 2021 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the global children’s furniture market generated $ 26.6 billion in 2020 and is expected to generate $ 48.9 billion in ‘by 2030, with a CAGR of 5.6% from 2021 to 2030. The report offers a detailed analysis of changing market trends, key segments, major pockets of investment, value chain, regional landscape and competitive scenario.
Rising spending on products aimed at children and increasing advertising through social media and digital marketing is driving the growth of the global children’s furniture market. However, the rise in commodity prices and the negative impact on the environment are the factors hindering the growth of the market. On the other hand, the increase in online shopping and the use of 3D printers present new opportunities in the years to come.
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Due to education and online courses during the Covid-19 pandemic, the demand for children’s furniture has increased. However, demand has increased due to foreclosure measures and restrictions on offline sales channels.
However, the demand for online sales channels has increased. Although there were restrictions on delivery through online platforms for a period of time, deliveries started when the restrictions were lifted and buyers preferred this channel.
During the post-pandemic period, the demand for commercialized, personalized and premium children’s furniture products has increased.
The report offers detailed segmentation of the global children’s furniture market on the basis of type, material, end-user, sales channel, and region.
On the basis of type, the beds, cots and cradles segment accounted for the largest share in 2020, holding more than two-fifths of the total share, and is expected to maintain its leading status throughout the forecast period. However, the cabinets, dressers and chests segment is expected to post the highest CAGR of 7.0% from 2021 to 2030.
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On the basis of sales channels, the offline channels segment contributed the highest share in 2020, accounting for over four-fifths of the global children’s furniture market, and is expected to maintain its leading position throughout the year. forecast period. However, the online channels segment is expected to register the fastest CAGR of 6.3% from 2021 to 2030.
Based on region, North America held the highest market share in 2020, contributing nearly two-fifths of the total share, and is expected to maintain its lead in revenue by 2030. However, Asia-Pacific is estimated to represent the largest CAGR of 8.5% during the forecast period.
The major players in the global children’s furniture market analyzed in the research include Cello Group, Herman Miller, Cosmoplast Industrial Company LLC, Keter Group, Sleep Number Corporation, Inter IKEA Systems BV, Pil Italica, Nilkamal Limited, Sauder Woodworking Company, Lifestyle and Tramontina.
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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of âmarket research reportsâ and âbusiness intelligence solutionsâ. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
We have professional relationships with various companies, which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecast. Pawan Kumar, CEO of Allied Market Research is essential in inspiring and encouraging everyone associated with the business to maintain high quality data and to help customers in every way possible to be successful. Each of the data presented in the reports we publish is extracted through primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.
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