In 2023, the global kid’s storage furniture market is projected to hit US$ 13 billion, with an impressive compound annual growth rate (CAGR) of 19.7%. By 2033, driven by consumer preferences for home improvement over new home purchases amidst escalating housing costs, the market is expected to surge to US$ 65.58 billion.
The children’s furniture sector is witnessing a shift in consumer preferences driven by growing environmental awareness regarding the detrimental impact of plastic. This evolution has spurred market players to seize opportunities in the realm of upscale and designer children’s storage furniture.
Embracing eco-conscious initiatives, manufacturers are exploring alternatives such as recycled plastic materials and repurposed abandoned plastic toys to craft innovative furniture solutions. These fancy and designer storage furniture pieces not only offer aesthetic appeal but also resonate with both children and their parents.
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With a convergence of these factors, the market is poised for significant growth in the foreseeable future, driven by a collective commitment to sustainability and style.
Increasing real estate prices are expected to change the size of both homes and children’s rooms. Therefore, space-saving furniture is gaining traction among parents. This presents growth opportunities for businesses selling lightweight, portable, and easy-to-assemble children’s furniture.
Parents increasingly include multifunctional furniture in nursery rooms, playrooms, and study rooms to store clothes, books, toys, etc. due to the remodeling of these rooms. The market has also seen a growing trend toward 3D-printed furniture, which is expected to further boost industry growth.
Key Takeaways from Market Study
- The kid’s storage furniture market is expected to register a CAGR of 19.7% over the forecast period.
- As a result of the high popularity of bookshelves in schools, libraries, labs, learning areas, offices, and cafeterias, the segment is expected to remain high.
- In 2023, wood materials dominated the market, accounting for over 45.23% of the total revenue.
- There is a high level of sales of unique kids’ storage furniture through offline channels.
- It is estimated that the kids’ storage furniture market in North America may remain strong during the forecast period.
- By 2033, a steady 17.8% CAGR is forecast for demand for kids’ storage furniture in the United States.
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Competitive Landscape:
To deepen penetration across lucrative markets, some leading market players have adopted a variety of expansion strategies. To reach a wider consumer base and incorporate innovative products into their product lines. A growth in small-scale businesses is merging and acquiring sizable companies. In addition to launching products, consolidating regional and global distribution networks, partnering with key players, and acquiring companies, these strategies also include collaborations.
Several prominent companies dominate this market, including
- 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
Recent Developments:
- The modern furniture and home décor store West Elm launched more than 200 new kid’s furniture pieces in April 2021. The company offers furniture in a variety of styles, including mid-century and bohemian. The stylish collection includes a midcentury-style wooden bed frame with a built-in bookshelf and a bohemian-style hanging canopy bed.
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Wardrobes Kids Storage Furniture Market Segmentation by Category
By Type Outlook:
- Wardrobes
- Toy Storage
- Bookshelves
- Chests
- Boxes & Baskets
- Hooks & Hangers
By Material Outlook:
- Wood
- Metal
- Plastic
By Distribution Channel Outlook:
- Online
- Offline
By Region Outlook:
- North America
- Latin America
- Europe
- The Middle East and Africa
- East Asia
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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