Baby Cribs & Cots Market to grow at an impressive 6% CAGR during the forecast period, 2017 to 2024 Says FACt.MR

A new report by Fact.MR projects the global baby cribs & cots market to ride on an impressive 6% CAGR during the forecast period, 2017 to 2024. Global sales of baby cribs & cots are estimated to bring in roughly US$ 2,500 Mn revenues by 2024-end.

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Baby Cribs & Cots Sales in APEJ to Register Highest CAGR through 2024

Rising demand for better lifestyle is a key factor influencing growth of the baby cribs & cots market globally, particularly in developing regions. Consumers in developing countries are rapidly adopting western culture, altering their lifestyle accordingly. In addition, comparatively higher birth rates in developing countries than the developed regions have complemented to sales of baby cribs & cots. Asia-Pacific excluding Japan (APEJ) currently dominates the market, and is further expected to be the largest market for baby cribs & cots over the forecast period. Sales of baby cribs & cots in APEJ are expected to register the highest CAGR through 2024.

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Europe is also expected to remain a lucrative region for sales of baby cribs & cots. Growth of the market in this region is primarily attributed to increasing expenditure on premium baby cribs & cots by ultra-high net worth individuals (UHNWIs). The less price-sensitive consumers in Europe are willing to pay more on better quality baby cribs & cots that are made of non-toxic materials. Moreover the region is witnessing a shifting trend toward online sales. These factors will retain Europe’s position of being the second largest market for baby cribs & cots.

Convertible Baby Cribs & Cots are more Durable & Provide Higher Utility

Although standard baby cribs & cots will remain preferred among products across the globe, sales of convertible baby cribs & cots are expected to witness a relatively faster expansion through 2024. Standard baby cribs & cots are the most preferred as they are economical among all the product types. Several market players are currently focusing on providing standard cribs & cots by using high-quality materials such as maple, birch or pinewood.

Preference for convertible baby cribs & cots is gaining momentum mainly because of their capability of transforming into multiple forms, along with their provision of higher utility. Convertible baby cribs & cots are more durable and manufactured using solid wood, which make them less hazardous to baby’s health as compared to those manufactured by using metal or plastic.

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Portable and travel baby cribs & cots are also expected to gain huge traction among parents across the globe, with their sales estimated to exhibit a similar CAGR as that of convertible baby cribs & cots through 2024. In addition, specialty baby cribs & cots are also expected to witness a rapid expansion in sales, although projected to account for a restively lower revenue share of the market over the forecast period.

Sales of Plastic for Manufacturing Baby Cribs & Cots to Register the Fastest Expansion through 2024

Plastic will remain preferred material for manufacturing baby cribs & cots, as this material facilitates easy production and design, and is capable of easily molding into various shapes and providing smooth surface finish. Moreover, cost of plastic is comparatively lower than other materials used for baby cribs & cots such as metal and wood. Sales of baby cribs & cots manufactured by using plastic are expected to register the fastest expansion in the market through 2024. Metal will also remain a lucrative material for manufacturing baby cribs & cots. Revenues from sales of wood will remain relatively lower than those from plastic and metal for manufacturing baby cribs & cots.

Departmental stores and hyper/super market will continue to be the largest sales channels for baby cribs & cots globally. However, sales of baby cribs & cots in e-commerce and franchised outlets are expected to reflect a comparatively faster expansion than that in departmental stores and hyper/super market through 2024.

Key players identified by Fact.MR’s report on the global baby cribs & cots market include Dream On Me, Inc., Million Dollar Baby, Inc., Arm’s Reach Concepts, Inc., Silver Cross (U.K.) Ltd., Graco Children’s Products Inc., Fisher-Price Inc., Stork Craft, Goodbaby International Holdings Limited, Artsana S.p.A, and Delta Enterprise Corp.