Baby cribs and cots: Key market research findings
- Europe dominates the market geographically
- Convertible cribs and cots account for a majority of the market’s revenue
- Key vendors – Delta Children, Goodbaby, Storkcraft, Silver Cross, and MDB
Technavio’s market research analysts predict the global baby cribs and cots market to grow at a CAGR of around 5% between 2016 and 2020. The growth of this market is fueled by the increased emphasis on creating a safe sleeping environment for babies. Sudden Infant Death (SIDS) is one of the leading causes of deaths in infants below one year of age. This is mainly because of the objects that interfere with the infant’s ability to breathe while it is asleep. During 2015, the global baby cribs and cots market was dominated by Europe with a market share of more than 42%. The rising preference for online shopping in the region is expected to have a positive impact on the market by 2020.
The new market research report from Technavio presents a breakdown and analysis of the baby cribs and cots segments based on the product type.
“In many developed countries like the US, Canada, Germany, and Australia, consumers have an increased preference for interior design and unique designer décor. Fashion conscious consumers, especially those with higher incomes, pay premium amounts for products that are aesthetically pleasing and seemingly suit their personality. Consumers are now investing largely in baby cribs and cots of different types and looks. This is mostly based on the kind of nursery design that appeals to them,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
In 2015, the convertible cribs and cots segment dominated the global baby cribs and cots market by accounting for almost 63% of the overall market revenue. Convertible cribs and cots are manufactured using solid wood. They are designed such that they are more durable enough for continued growth, along with that of the baby’s. Many parents are increasingly investing in such multifunctional products as these are more convenient and economical in comparison with the purchase of multiple pieces of furniture for the same purpose.
The key vendors in the global baby cribs and cots market include Delta Children, Goodbaby, Storkcraft, Silver Cross, and MDB. Rising concerns regarding child safety and a subsequent launch of improved quality products with better safety features, coupled with the increasing disposable income of consumers in most countries, is spurring overall growth of the market. However, prevailing competition and frequent changes in consumer preferences are major risks for competitors. In addition, the rising trend of putting babies to sleep in cardboard boxes in a few European countries like Finland may also restrict the growth of baby crib and cot manufacturers.
A more detailed analysis is available in the Technavio report, Global Baby Cribs and Cots Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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