Kids Furniture Market Size, Share & Trends Analysis Report By Product (Beds, Cots & Cribs, Mattresses), By Material (Wood, Polymer, Metal), By Application (Commercial, Household), By Region, And Segment Forecasts, 2021 - 2028
New York, Dec. 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Kids Furniture Market Size, Share & Trends Analysis Report By Product, By Material, By Application, By Region And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06187930/?utm_source=GNW
Kids Furniture Market Growth & Trends
The global kids furniture market size is expected to reach USD 121.41 billion by 2028. It is expected to expand at a CAGR of 16.7% from 2021 to 2028. With the exponential growth of the residential sector in countries and increased demand for vertical apartments and luxury housing facilities, buyers are taking a keen interest in decorating their homes, kids’ rooms, living rooms, and bathrooms with modern and space-saving furniture. Moreover, the increase in the number of daycare and crèche facilities in both schools and office compounds has resulted in an increased demand for kids’ furniture in these facilities.
Moreover, consumers prefer to purchase kids’ furniture through online portals and official websites in order to receive value-added services, such as cash on delivery, return policy, and after sales service. Discounted prices, festive season sales, and the availability of a wide range of products on e-commerce websites are expected to drive sales via online platforms.
Additionally, the majority of manufacturers are increasingly focusing on creating environmentally friendly kids’ furniture.Several consumers prefer products that improve the outer appearance and match the architectural patterns and layout of living spaces and backyards of houses.
As a result, manufacturers are increasingly focusing on providing innovative, luxurious, and aesthetic kids’ furniture.
Furthermore, the growth of the market is supported by the governments as they are taking initiatives to bridge the gap between housing demand and supply.For instance, in July 2017, the government of Algeria took the initiative to construct 26,000 housing units by 2019.
This initiative will contribute to the household segment growth. Such initiatives are likely to favor the market growth.
Kids Furniture Market Report Highlights
• The beds, cots, and cribs product segment accounted for the largest revenue share of over 30.0% in 2020 owing to the high emphasis of parents on the uninterrupted sleep of their child, which usually is linked to the overall wellbeing of the kids
• The wood material segment accounted for the largest revenue share of over 55.0% in 2020. This can be credited to the high consumer preference for wood due to various advantages associated with it
• The household application segment accounted for the largest revenue share of over 65.0% in 2020. The growth of this segment can be attributed to the growing need to set up a comfortable classroom for the child at home to facilitate learning
• The Middle East and Africa is expected to expand at the fastest CAGR of 20.8% during the forecast period. The growing per capita income in developing countries across the region will augment the demand for kids furniture
Read the full report: https://www.reportlinker.com/p06187930/?utm_source=GNW
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