How is High Standard of Living in Europe Expected to Drive Demand for Baby Cribs and Cots

The recently published market study by Fact.MR highlights the current trends that are expected to influence the dynamics of the Baby Cribs & Cots Market in the upcoming years. The report introspects the supply chain, cost structure, and recent developments pertaining to the Baby Cribs & Cots Market in the report and the impact of the COVID-19 on these facets of the market. Further, the micro and macro-economic factors that are likely to impact the growth of the Baby Cribs & Cots Market are thoroughly studied in the presented market study.

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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 2022. Global sales of baby cribs & cots are estimated to bring in roughly US$ 2,500 Mn revenues by 2022-end.

Baby Cribs & Cots Sales in APEJ to Register Highest CAGR through 2022

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 2022.

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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.

Sales of Plastic for Manufacturing Baby Cribs & Cots to Register the Fastest Expansion through 2022

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 2022. 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.

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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 2022.

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.

Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2020/03/03/1994318/0/en/Manufacturers-of-Kids-Furniture-Eying-Profits-in-Theme-Based-Designs-Wood-Furniture-Continues-to-Gain-Significant-Traction-Says-a-New-Fact-MR-Report.html

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