The global kid’s storage furniture market is expected to reach USD 13 billion in 2023 at a 19.7% CAGR. Consumers are increasingly investing in home improvement and remodeling projects instead of purchasing newly built houses due to rising home prices. This is pushing the market size to USD 65.58 billion in 2033.
Increasing property values have led to doubled homeowner equity. This shows a tendency to make homeowners richer and encourage them to invest in home improvements. Based on data gathered by the online platform for home remodeling Houzz, home experts reported an increase of 58% in project leads as of June 2020.
Concerning children's furniture, blunt edges, low maintenance, and ease of washing are typical characteristics. Consumers are increasingly seeking portable, adaptable products that can fit easily into tiny spaces and serve multiple purposes. Significant growth in nuclear households results in the demand for space-saving and portable furniture goods. This is expected to increase the demand for storage furniture.
With the rise of urbanization, kids' furniture is in greater demand. In addition, parents are putting more focus on their kids, which is beneficial for their development and education. The market is expanding due to parents' rising purchasing power. It is also imperative for them to learn about all the products available for kids and purchase them. Further, home décor and kid's room décor may support this market.
As disposable income increases, urban populations grow, and early childhood development is increasingly emphasized, the market is likely to expand during the forecast period. The growth in demand for multifunctional furniture is projected to present lucrative opportunities for market players. Nevertheless, raw material costs are expected to increase and substitute products are likely to be available in the next few years.
Home and children's rooms are expected to change in size due to rising real estate prices. This further leads to growth opportunities for businesses providing lightweight, portable, and easy-to-assemble children's furniture. Furthermore, nursery rooms, playrooms, and study rooms are increasingly being remodeled. Resulting in an increase in multifunctional furniture to store clothes, books, toys, etc. in one location. Furthermore, there has been a growing trend toward 3D-printed furniture in the market, which is further expected to boost industry growth.
| Attributes | Details |
|---|---|
| Kids Storage Furniture Market Value (2023) | USD 13 billion |
| Kids Storage Furniture Market Expected Value (2033) | USD 65.58 billion |
| Kids Storage Furniture Market Projected CAGR (2023 to 2033) | 19.7% |
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Sales in the global kid’s storage furniture market are forecast to increase at a 19.7% CAGR compared to the 17.4% CAGR registered between 2018 to 2022.
During the pandemic period, households often require work tables & chairs due to the shift in corporate professionals' work style towards remote working. Moreover, consumers' increasing tendency to buy house furnishing items online further drives up the demand for such products during pandemics. According to Inter IKEA Systems B.V., an upholstery retailer, its online sales of furnishing items jumped 43% in the 12 months ending August 2020.
| Historical CAGR | 17.4% |
|---|---|
| Historical Market Value (2022) | USD 10.86 billion |
| Forecast CAGR | 19.7% |
The Demand for Storage Furniture for Kids is High
The children's furniture industry is experiencing a change in consumer preferences as people become more aware of the damaging effects of plastic on the environment. Market participants are grasping new opportunities in fancy and designer children's storage furniture. As people become more conscious of the harmful impacts of plastic on the environment.
In addition to furniture made from recycled plastic, abandoned plastic toys are also being developed. Because of their aesthetic appeal, fancy and designer storage furniture can also become popular among both children and their parents. A combination of these factors is expected to boost market growth in the near future.
Technological Advancements and Growing Demand from Emerging Markets
The development of technology has become a significant trend in the market, thereby increasing the manufacturing process of furniture as well as the quality of the product. A solid and lightweight material, like wood, polymer, or metal, is also another factor that makes children's furniture more durable.
High-end businesses collaborate with regional artisans to develop unique products to increase their presence in many regions. These factors may create new growth opportunities for the kids' storage furniture market throughout the forecast period.
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In the present day, middle-income households prefer second-hand furniture over luxurious items due to the lower cost. This is expected to limit the market's growth.
Although, unorganized industry players are restraining the growth across many nations as a result of fierce competition. A fluctuating raw material price and changing import & customs duties on fixtures are expected to pose challenges to the growth of the industry overall.
Increasing Demand for Bookshelves is Driving Sales in the Type Sector
Based on type, the bookshelves segment is expected to remain high over the forecast period. Schools, libraries, labs, learning areas, offices, cafeterias, and libraries use shelves that are designed specifically to store schoolbooks and teaching materials. As a result, each item has a specified place. Students often use shelves in classes with high student enrolment, and they can also be used as standalone shelves.
In 2023, the wardrobes segment may likely witness a significant growth rate in the kid's storage furniture market. Rooms with limited space require novel products, such as wardrobes, which entice more consumers to purchase them. As a result of their lower maintenance and repair costs, manual wardrobes are expected to gain in popularity.
Globalization and urbanization have also increased demand for products such as multifunctional wardrobes due to the need for an opulent and comfortable lifestyle.
Rising Awareness Regarding Sustainability is Fueling the Demand for Wood Material in Kids’ Storage Furniture Market
As for materials, the global industry is further divided into wood, metal, and plastic. Wood material dominated the market in 2023. Accounting for more than 45.23% of the total revenue. Depending on the type of furniture, consumers frequently favor various materials. There are several benefits to using wood as one of these materials, among them the growing trend of contemporary furniture for children's rooms, which may contribute to this segment's growth.
Sales of Unique Kids Storage Furniture through Offline Channels Remain High
Kids’ storage furniture is distributed through offline and online channels on domestic and international markets. With the help of their distribution network, the industry players sell the products directly in their retail outlets.
As well as offering online shopping, companies are opening brick-and-mortar stores to offer offline shopping experiences to consumers. For instance, FirstCry has over 300 franchised offline stores in more than 100 cities in India, making it Asia's leading online shopping store for kids.
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Consumers in the United States are Increasing Adopting Bamboo Flooring
As per FMI, demand for kids’ storage furniture in the United States market is forecast to increase at a steady 17.8% CAGR through 2033, placing the country as a lucrative pocket in the North American kid’s storage furniture market.
The United States dominated the industry with a share of more than 41.20% in 2023. As a result of the presence of key product manufacturers, increased consumer preference for customized kids' furniture. Moreover, with a recent surge in home renovation, the regional market is experiencing rapid growth.
Kids' furniture manufacturers have been designing products that create a suitable setting for studying, working, playing, sleeping, or relaxing in the home. This is driving demand for the product in the United States household market.
A significant amount of disposable income is being spent on quality furniture and storage for children by millennial urban parents aged 28 to 40 years in China. Moreover, it has recently been observed that the business of furniture targeted at children and infants is experiencing a boom.
Surging demand and adoption of kids’ storage furniture in China, along with the presence of various local bamboo furniture makers is expected to fuel the growth in the market. In addition to this, increasing rates of deforestation in the country are compelling manufacturers and consumers to adopt bamboo-based products. This can continue pushing sales in the China market over the forecast period.
Product portfolio enhancement is emphasized by key manufacturers through the launch of a variety of products. In search of customized furniture that is better suited to their individual décor needs, consumers find the perfect solution in 3D printing.
Due to the technology's ability to concretize even the most complex designs in a shorter amount of time, this type of material is more rapid than traditional techniques. In addition to reducing wasted raw materials, this efficiency also reduces the overall cost. As a result, this trend is becoming increasingly popular with manufacturers and consumers. Increasingly, manufacturers are focused on offering environmentally friendly kids' furniture.
Customers prefer solutions that fit the architectural style and layout of their living areas and backyards, as well as that enhance the outside of their homes. As manufacturers have developed products for creating an ambiance that is ideal for studying, working, playing, sleeping, or relaxing, household demand has increased.
Some key players in the kid’s storage furniture market are
Recent Development
Leading manufacturers in the kid’s storage furniture market are investing in promotional strategies to improve sales in emerging markets. Players also invest in mergers, acquisitions, and collaborations to expand their production facilities, gaining a competitive edge.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; The Middle East and Africa; East Asia |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Chile, Peru, Germany, United Kingdom, Spain, Italy, France, Russia, Poland, China, India, Japan, Australia, New Zealand, GCC Countries, North Africa, South Africa, and Türkiye |
| Key Segments Covered | Type, Material, Distribution Channel, Region |
| Key Companies Profiled | Ashley Furniture Industries; Blu Dot; Circu Magical Furniture; Crate and Barrel; Casa Kids; First Cry; KidKraft; Williams Sonoma Inc.; Million Dollar Baby Co.; Wayfair Inc.; Sorelle Furniture |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is estimated to secure a valuation of USD 13 million in 2023.
The market is estimated to reach USD 65.58 million by 2033.
The online segment holds high revenue potential.
The United States, China, and India dominate the global market.
The market is forecast to register a CAGR of 19.7% through 2033.
1. Executive Summary | Kids Storage Furniture Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Wardrobes 5.2. Toy Storage 5.3. Bookshelves 5.4. Chests 5.5. Boxes & Baskets 5.6. Hooks & Hangers 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 6.1. Wood 6.2. Metal 6.3. Plastic 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use 7.1. Residential 7.2. Commercial 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Williams Sonoma Inc. 16.2. Million Dollar Baby Co. 16.3. Wayfair Inc. 16.4. Blu Dot 16.5. First Cry 16.6. KidKraft 16.7. Sorelle Furniture 16.8. Circu Magical Furniture 16.9. Crate and Barrel 16.10. Casa Kids 17. Assumptions & Acronyms Used 18. Research Methodology
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Kids Storage Furniture Market
