The global baby cribs & cots market size is expected to register revenue of USD 1.67 Billion by the end of 2025, according to a new report by Million Insights. It is expected to grow with a CAGR of 4.6% over the forecast period. This growth can be associated with increasing awareness among parents regarding the usage of safety products for their babies. Moreover, increasing number of single parents and emerging concept of nuclear families across developing countries like China and India is expected to pave the market growth for such products in the upcoming years.
Moreover, the U.S. Consumer Product Safety Commission has enforced stringent rules and regulations regarding manufacturing of these products with advanced features thereby ensuring safety for the kids. Thus, the key players have started developing products with features like 3-in-1 and 4-in-1 conversions that can be used as full-sized bed, day bed or toddler beds for babies.
The convertible product segment held the largest share of 53% across the global market in 2018 owing to its cost-effectiveness, ease of usage, durability and detachable property. The segment of multifunctional products is anticipated to register the highest CAGR of 5.4% from 2019 to 2025 owing to their feature of accommodating more furniture pieces that serve various functions.
The offline channel segment held the largest share of around 75% across the global baby cribs and cots market due to the rising number of specialty stores in urban areas. In addition, the online distribution channel segment is anticipated to witness the highest growth with a CAGR 5.0% over the forecast period owing to the rising popularity of smartphones and internet among the millennial.
North America held the largest share of around 32% across the regional market due to rising disposable income among the working population coupled with increasing awareness among the millennial for the usage of safety products for babies. On the other hand, Asia Pacific is anticipated to register the fastest growth in the upcoming years due to rising population across countries like China and India coupled with increasing per capita income.
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Further key findings from the report suggest:
• The convertible product segment held the largest share of around 53% across the global market in 2018.
• The online distribution channel segment is expected to witness the highest growth with a CAGR of 5.0% from 2019 to 2025.
• North America held the largest share of around 32% across the global market.
• Key players in this market are Sorelle Furniture; Storkcraft; Dream On Me, Inc.; Delta Children's Products Corp.; and Graco, Inc.
Million Insights has segmented the global baby cribs & cots market on the basis of product, distribution channel, and region:
Baby Cribs & Cots Product Outlook (Revenue, USD Million, 2015 - 2025)
Baby Cribs & Cots Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Baby Cribs & Cots Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa