Report Also Addresses:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Baby Cribs and Cots and How to Navigate
- Recommendation on Key Winning Strategies
Sales of Baby Cribs and Cots from 2016 to 2020 Vs Projections for 2021 to 2031
Over the historical period of 2016-2020, use of baby cribs and cots escalated at around 5% CAGR, where in Asian countries like China, Japan, India, Australia and others held notable share in the global market.
Increase in disposable income of people on global scale can be attributed to rising expenditure on baby products. Being on the luxury side of social standards, baby cribs and cots have witnessed moderate traction over the historical period with mediocre demand. But rise in disposable income along with increasing number of parents seeking baby cribs and cots can alter the historic trend and lead to 2X demand over the forecast period.
New parents expected to spend an average of US$ 2,600 on baby gear and basics such as diapers, sleep supplies and formula in the first year. All these factors are influencing consumers to opt for purchasing of auxiliary baby gears and sleep utilities to provide babies with comfort zones to fall asleep making baby cribs and cots as babies’ registry essentials.
Growing awareness among consumers to provide proper facilities for babies along with migration of end-users to eco-friendly and sustainable products being considered, the market for baby cribs and cots is forecast to expand at a healthy CAGR of more than 6% over the forecast period.
What are the Key Opportunities for Baby Crib and Cot Manufacturers?
Increasing standard of living and disposable income are key factors generating opportunities for manufacturers of curbs and cots for babies. Inclination of parents towards purchasing of baby gears and other auxiliary stuff has induced manufacturers to grab huge traction by cashing the trend.
High spending on baby gears from North America and Europe to result manufacturers to be offered with huge pool of opportunities to mold the market and gain revenue generation capacity. So as the Asia-Pacific consisting of developing economies with high growth rate in baby crib and cots demand to provide seamless chain of opportunities for key manufacturers.
What are the Roadblocks for Baby Crib and Cot Suppliers?
One of the major factors barring the market growth of baby cribs and cots is its low penetration in developing and under developed countries, where price of these products is main concern for people with low disposable income.
With growing population, the market for baby cribs and cots is anticipated to grow at higher single digit CAGR. However, due to low disposable income and lower standard of living, the market may experience hindered growth from underdeveloped countries leaving a notable scar on global market.
Growing environmental concerns over the use of plastics and the higher prices for baby cribs made of eco-friendly materials are further set to dampen the growth and act as potential roadblocks for baby cribs and cots market growth.
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Will Sales of Baby Cribs and Cots Lose Traction Due to Environmental Concerns?
According to National Geography Society, the production of plastics increased exponentially to 440 million tons in 2015 from 2.3 million tons in 1950. Eco-friendly and environmental safe products and materials are gaining traction as people are inclining their preferences towards purchasing of products recyclable and safe products. Baby cribs and cots being offered in wood and metal are expected to serve the purpose.
However, demand for baby cribs and cots made from plastic material is comparatively high making the market to be left at confused state to deal with growing environmental concerns. Plastic made baby cribs and cots have high demand owing to their economical prices and easy manufacturing. Manufacturers should recognize and understand the externalities due to environmental concerns and innovate new technologies to experience market growth.
Which Region Offers the Largest Opportunity for Sales of Baby Cribs and Cots?
Asia Pacific, with an absolute dollar opportunity of around US$ 300 Mn, is expected to be the most lucrative market for baby crib and cot suppliers. China leading the Asian market is anticipated to showcase 1.3X the average Asian growth during the forecast period of 2021-2031. With fast-paced growth of its economy and standard of living, Chinese inclination towards baby health and wellness has grown double-fold in the recent times. High population in the country with mixed lifestyles to project differed growth. However the availability of products in pocket friendly prices to rise the demand over the years to come.
Besides, Asia Pacific excluding Japan holds nearly 1/3 of global market share by volume, and is projected to showcase higher than normal growth owing to the rising population and betterment of living standards.
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How is High Standard of Living in Europe Expected to Drive Demand for Baby Cribs and Cots?
Europe being significantly on top of list of developed countries, standard of living of people in the region is significantly high and sales of baby gears like cribs and cots is also more than global average. Parents’ inclination towards purchase of comfortable baby cribs and cots to provide reinforced thrust. Availability of eco-friendly materials for manufacturing of cribs and cots along with multipurpose features have contributed to increased demand for baby cribs and cots.
Rising awareness for baby health is also set to provide propulsion for growth of baby gears sales and leaving the market of baby cribs and cots on a highly positive note.
Why is the Baby Cribs and Cots Market in the U.S. Still Growing at Over 5% Annually?
The market in the U.S, grew 5% from 2016 to 2020. The population in the country is the most influencing factor over the sales of baby cribs and cots. The rising environmental concerns also being firstly noticed in the country projected a cascaded effect on sales of baby cribs and cots made of plastics.
One study by the United States Consumer Product Safety Commission revealed the failure of all baby sleep products. Reinforced and advanced designs of baby sleep products will provide a comeback for sales in the country even, with almost 1.1X the global average.
What Makes Russia a Lucrative Market for Baby Cribs and Cots?
In 2020, Russia accounted for over 18% share of European market for baby cribs and cots. Pre purchasing of baby gears is also bolstering the demand for the products in the country. Various consumer safety commissions sticking on to strict measure on permitting the sales of safe baby gears from the beginning didn’t project any roadblocks or hindrance for market growth leaving the market to be high lucrative for manufacturers and other actors of supply chain.
Though there exists a decline in population growth with -0.02%, the rising living standard and disposable income are set to launch the market unhindered and even with 1.6 times that of 2021 by the end of 2031.
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Why are Standard Baby Cribs and Cots Mosr Sought-after?
On the basis of product, sales of convertible, portable, and travel baby cribs and cots are expected to register fastest expansion, with portable products expected to reap relatively larger revenue. Standard baby cribs and cots, being the most preferable by parents for use at home, will account for more than 1/3 share of the global market by 2031.
Which Sales Channel for Baby cribs and cots accounts for most of demand?
Departmental stores and hyper/super market are the most dominating sales channel for baby cribs and cots causing most of the sales. Revenue generation from these sales channels will continue to surpass US$ 1.5 Bn by 2031-end. The simple way to order and in real experience of the product while purchasing makes departmental stores most preferred sales channel by customers.
e-Commerce is also gaining traction owing to the increasing online purchases as it offers easy purchase from a pool of options to choose from along with discount prices. As per U.S. Census Bureau News, the online purchase of total sales is set to surpass 20% globally by the next decade.
What is the Impact of COVID-19 on the Sales of Baby Cribs and Cots?
COVID-19 has significantly hindered the sales of baby cribs and cots as a result of closure of many manufacturing units. Decline in supply of baby cribs and cots is observed making the market see a sudden dip growth in 2020. The highest dip in sales was observed in the 2nd quarter which resulted and showcased annual dip of 2.5%.
However, the manufacturers have planned their comeback after relief in lockdown restrictions, the demand growth is observed to be quiet below the par as the consumers are yet to over the effect. The market is expected to get back on track by the end of 2021 as the economies are still on their way to recover from the never foreseen disruptions.
Fact.MR has profiled the following key baby crib and cot manufacturers in its report:
- Delta Enterprise Corp.
- Artsana S.p.A
- Goodbaby International Holdings Limited
- Stork Craft
- Fisher-Price Inc.
- Graco Children’s Products Inc.
- Silver Cross (U.K.) Ltd.
- Arm’s Reach Concepts, Inc.
- Million Dollar Baby, Inc.
- Dream On Me, Inc.
Majority of companies discussed in the report have focused on product launches and expanding their production capacity and manufacturing units. Strategies include innovation, collaborations with key players, partnerships, strategic alliances, and strengthening of regional and global distribution networks. Some of the key developments are:
- In 2020, Delta Enterprise Corp, launched a new foldable baby cribs which saves lot of space when packed up or folded while not in use.
Similarly, recent developments related to companies manufacturing baby cribs and cots have been tracked by the team at Fact.MR, which are available in the full report.
Historical Data Available for
US$ Mn for Value
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Available upon Request
Key Market Segments Covered
- Standard Baby Cribs and Cots
- Bassinet Baby Cribs and Cots
- Convertible Baby Cribs and Cots
- Portable Baby Cribs and Cots
- Travel Baby Cribs and Cots
- Multifunctional Baby Cribs and Cots
- Specialty Baby Cribs and Cots
- Other Product Types
By Sales Channel
- Baby Cribs and Cots Sold at Hypermarkets/Supermarkets
- Baby Cribs and Cots Sold through e-Commerce
- Baby Cribs and Cots Sold at Franchised Outlets
- Baby Cribs and Cots Sold at Departmental Stores
- Plastic Baby Cribs and Cots
- Metal Baby Cribs and Cots
- Wooded Baby Cribs and Cots
- Other Material Types
- North America
- Latin America
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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