According to FMI, the demand for kids’ storage furniture in the United States is projected to grow at a robust CAGR of 17.8% through 2033, making it a promising segment within the North American market.
In 2023, the U.S. held over 41.20% of the market share, largely due to the presence of major manufacturers and a rising consumer preference for customized kids’ furniture. Additionally, the recent uptick in home renovations is fueling rapid growth in the regional market.
Manufacturers of kids’ furniture are increasingly focusing on designs that cater to various activities—studying, playing, sleeping, and relaxing—creating ideal environments for children. This trend is significantly boosting demand within U.S. households.
The global kids’ storage furniture market is poised for significant growth, with an anticipated valuation of USD 13 billion in 2023 and a forecasted increase to USD 65.58 billion by 2033, reflecting a remarkable compound annual growth rate (CAGR) of 19.7%. This surge is driven by a shift in consumer behavior, as rising home prices compel homeowners to invest in remodeling and home improvement projects rather than purchasing new homes.
Key Market Insights
- Homeowner Equity on the Rise: Increased property values have effectively doubled homeowner equity, prompting families to enhance their living spaces. According to Houzz, project leads among home experts surged by 58% as of June 2020, highlighting the growing trend of home renovations.
- Demand for Child-Friendly Furniture: Parents are increasingly prioritizing safety and functionality in children’s furniture, leading to a preference for products featuring blunt edges, low maintenance, and ease of cleaning. The rising trend of nuclear families is further fueling demand for space-saving and portable storage solutions.
- Urbanization and Parental Investment: Urbanization is driving demand for children’s furniture, as parents focus on products that promote development and education for their kids. The market is supported by increasing disposable incomes and a keen interest in home décor.
- Technological Advancements and Sustainability: Innovation in materials and production methods, including the rise of 3D-printed furniture, is opening new avenues for market growth. The shift towards sustainable materials, such as wood and recycled plastics, reflects a growing awareness of environmental issues.
Key Takeaways
- The global kids’ storage furniture market is projected to grow from USD13 billion in 2023 to USD 65.58 billion by 2033, with a CAGR of 19.7%.
- Rising homeowner equity is driving increased investments in home remodeling rather than new home purchases.
- Parents are prioritizing safety and multifunctionality in children’s furniture, leading to higher demand for space-saving solutions.
- Urbanization and rising disposable incomes are fueling investment in children’s development-focused furniture.
- Technological advancements, including 3D printing and sustainable materials, are shaping the future of the market.
- Challenges such as rising raw material costs and competition from second-hand markets may impact growth strategies.
Key Players in the Kid’s Storage Furniture Market are
- 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 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.
- West Elm, a modern furniture and home décor store, launched more than 200 new kids’ furniture pieces in April 2021. In addition to midcentury and boho styles, furniture is also available in other design styles.
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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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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