For the past several years, online retailing has experienced rapid expansion in the global midrange high chair market. Customers have a wide range of purchasing alternatives when they shop online. Moreover, as online payment security solutions have improved, users have grown more comfortable in their use of online payment choices. The global midrange high chair market is driven by rising birth rates and increased awareness of high chairs. As per ourworldindata.org, the worldwide annual birth rate in 2020 was 138.98 million. Demand for midrange high chairs is expected to rise throughout the forecast period as parents become more aware of the benefits of using high chairs.
Furthermore, customers are drawn in by the bargain possibilities made available by many online retail companies. The growing number of online retailing platforms has enhanced the sales of mid-priced high chairs. To make their presence known, major businesses in the online retail market are increasingly offering profitable deals to customers.
Worldwide production of midrange high chairs has expanded dramatically in recent years due to customer perspective toward purchasing midrange high chairs and selecting certain midrange high chairs for various events. In addition, increasing disposable income has boosted demand for midrange high chairs around the world. Consumer disposable income has increased as a result of economic expansion in emerging markets. This has contributed to a rise in customer confidence in purchasing and spending on high-quality midrange high chairs. Such factors are projected to bolster the global midrange high chair market growth.
The global midrange high chair market is anticipated to surpass US$ 661.2 Mn by 2031, expanding at a CAGR of 5.5% from 2021 to 2031 (forecast period).
Convertible High Chair Segment to Witness Massive Growth
The convertible high chair segment is expected to be the largest revenue generator in midrange high chair market throughout the forecast period. The convertible high chair segment is anticipated to rise at an incredible pace throughout the forecast period. Midrange high chairs are expected to gain popularity among residential customers. Convertible high chairs are driving the most demand and income in the worldwide midrange high chair market, and this trend is expected to continue during the forecast period.
Successful product improvements in midrange high chairs with improved features are likely to drive market expansion throughout the forecast period. Moreover, firms are implementing cutting-edge technologies to bring additional benefits and comfort to consumers, hence increasing the effectiveness of convertible high chairs.
COVID-19 Pandemic Had Positive Impact on Midrange High Chair Market
The COVID-19 pandemic had a positive impact on the global midrange high chair market. Due to the current COVID-19 pandemic, businesses in the midrange high chair market are pursuing residential customers, as a lot of parents and children spend the majority of their time indoors. Moreover, the establishment of government organizations, commercial offices, and other businesses is projected to increase demand for midrange high chairs.
Online shopping apps and e-commerce are emerging as new sales channels. Furthermore, influencer marketing is being used by a growing number of firms to promote their midrange high chairs since this form of marketing is becoming a significant part of the marketing budget.
North America to Lead Midrange High Chair Market
North America is set to lead the global midrange high chair market during the forecast period. The United States is expected to provide revenue-generation opportunities in midrange high chair market in North America. Increasing disposable income, combined with increased adoption of multipurpose convertible chairs in prospective revenue-generating areas such as the United States, are expected to drive the midrange high chair market in the near future.