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The use of baby furniture has become a trend due to the growing awareness among parents regarding the convenience offered by these products. The furniture helps babies to sleep safely and comfortably by preventing them from rolling off the bed. The dual-income earning households around the world are contributing to the rising consumption of the product as they are willing to spend more on baby’s products. Furthermore, the increasing production of multipurpose furniture for infants has helped to boost the product sales as it comes with multiple functionalities, such as a single furniture type that can be transformed into a table, crib, or cradle, and others as per the requirement.
The innovation of technology-based baby’s furniture such as a rocking chair in which babies can sleep conveniently is gaining popularity as it also helps parents by reducing their efforts to make their baby sleep. For instance, the invention of Yves Behar's robotic Snoo crib comes with the ability to automatically rock the crib which enables babies to sleep easily.
The expansion of the global economy has given rise to the greater buying power of parents all over the world and is acting as one of the major flourishing factors for market growth. Manufacturers are focusing on the production of easy to assemble, lightweight, and compact furniture, which in turn is expected to attract more consumers to purchase the product. Moreover, the baby furniture with built-in cameras, sensors, music, and others that enable parents to monitor the movements of their babies also has increased the consumption of the products. Additionally, the growing number of millennial parents has up surged product usage as they are aware of the availability of various types of baby furniture in the market as compared to the previous generation parents. According to the data released by the National Retail Federation, in April 2018, millennial parents are estimated to own 50% of all children, and also more than 1 million women who became mothers are considered to be millennial in the United States.
Nevertheless, various campaigns regarding family planning have increased the awareness regarding population explosion which has resulted in an increased number of parents planning to bear only a single child. This in turn is expected to act as a hampering factor for the market growth as it can reduce the number of infants born per year significantly across the world.
Key Market Driver -
Higher buying power of parents act as one of the major driving factor for the market growth
Key Market Restraint -
The decreasing number of parent having lesser number of children act as a restraining factor for the market.
Million Dollar Baby, FLEXA, Lucky Baby, Land Of Nod, Ikea, Nartart Juvenile, Child Craft Industries, Baby'S Dream, Bassett Bellini, Davinci Baby, and others are the key companies functioning in the market.
The baby furniture market is fragmented into by raw material, by type, by sales channel, and by geography.
On the basis of raw material, the market is segmented into wood, plastic, and metal. Wood is projected to be the dominating segment on an account of wood being extremely resilient which needs lower maintenance and also offers, elegant look as well as durability.
Based on type, the market is fragmented into crib, bassinet, cradle, and others. A crib is estimated to be the major shareholder owing to its strong and sturdy construction which makes the product durable. This type is designed in such a way by which a new-born baby can use it till the age of 5 years old.
By the sales channel, the market is divided into an online store, furniture store, supermarket/ hypermarket, and others. A furniture store is estimated to be the major shareholder due to the availability of a wider range of products to choose from, convenient replace and return policies in case of any complications, and availability of the sale personnel who can help to choose the right product for customers.
On the basis of region the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
North America is anticipated to be the dominating region and is expected to dominate during the forecast period of 2020-2017. In North America, it is mandatory to keep the baby furniture ready before the child is born. Furthermore, manufacturers in the region are working hard to attract more parents to purchase their products through their marketing campaigns on billboards, radio, television, social media, and others. Additionally, the growing popularity of baby’s product exhibition where manufacturers showcase different types of products including baby furniture to the general public is acting as a flourishing factor for the increase in consumption. For instance, the ABC Kid’s Expo which is one of the world's largest trade shows of childcare products held every year in the United States is helping to boost the market growth for this region.
Asia Pacific region is projected to display significant growth during the coming years owing to a high birth rate as compared to the rest of the world specifically in countries such as India. Urbanization in this region is leading to a change in lifestyle and adoption of products that are not traditionally used by consumers in this region is expected to increase the consumption of baby furniture. According to the United Nations data published on ‘2018 Revision of World Urbanization Prospects’, Asia regardless of its comparatively lower level of urbanization is estimated to have about 54% of the world’s urban population.
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