The Global Kids Storage Furniture Market size is expected to reach $28.6 billion by 2028, rising at a market growth of 17.9% CAGR during the forecast period.
Kids storage furniture is made specifically for young growing children. They take up a little portion of the space of typical furniture. These furniture pieces are made of materials such as polymer or metal, most commonly made of wood. They could be immovable or stationary. They are designed to meet the ergonomic requirements of kids at different developmental stages.
Furniture for kids typically has characteristics like blunt edges, low maintenance, and ease of washing. Increasing consumer desire for portable, adaptable products that fit readily in tiny places and have multiple uses is propelling industry expansion. The demand for space-saving and portable furniture goods results from rising nuclear households. The demand for storage furniture is expected to increase as a result of this reason.
Furniture for kids typically has characteristics like blunt edges, low maintenance, and ease of washing. The increase in population density in urban areas and the rising disposable income of consumers worldwide are two important market growth drivers. Additionally, many people are moving with their families from rural to urban areas, mostly in quest of employment. Such a huge inflow of people creates opportunities for real estate, hotels, restaurants, clinics, and hospitals, all of which need various types of furniture, including children's storage.
Therefore, furniture for kids is more in demand as the world's population becomes more urbanized. Additionally, parents are focusing more on their kids and their needs, which is good for their growth and education. The market is expanding as a result of parents' rising purchasing power. They are keen to learn about all the products available for kids and spend their money on them. Furthermore, the sector will continue to grow with the support of products like home décor and kid's room décor.
Due to the COVID-19 outbreak, the toy business has experienced a short decline in growth, which has also affected the toy storage sector. As parents avoid physically going to stores to purchase storage furniture so as not to put their children at risk, market participants have evolved into online stores. E-commerce sites strived to meet consumer needs while minimizing their inconvenience. However, the supply chain was also hit, necessitating proper management to deal with the crisis. Therefore, conclusively it can be said that the pandemic had a negative impact on the kids storage furniture market.
Consumer preferences for designer furniture are changing in the children's furniture industry. Market participants are grasping new opportunities in fancy and designer children's storage furniture as people become more aware of the harmful effects of plastic on the environment. Similar furniture made from recycled plastic is being developed, as are abandoned plastic toys. Due to the high level of the aesthetic appeal of these products, fancy and designer storage furniture also has the potential to become popular with both children and their parents. These factors are promoting the growth of the market in the coming years.
Technical progress is emerging as a significant trend in the market. As a result, the production of furniture increases as the manufacturing process and the quality of the products are enhanced. Additionally, children's furniture offers greater product durability due to the furniture's robust and lightweight raw materials, such as wood, polymer, and metal. In addition, to increase their presence in many locations, top businesses collaborate with regional artisans to develop unique products. Consequently, these factors are creating new growth opportunities for the kids storage furniture market throughout the forecast period.
Kids' storage furniture is highly advantageous in terms of sturdiness, compactness, and adaptability. Nonetheless, production and manufacturing costs are extremely expensive. These items are composed of raw materials, such as wood, plastic, and metal, which are extremely pricey. For example, woods such as cherry and walnut are quite expensive. Similarly, the costs of other materials, such as polymer and metal, are high. The use of these inputs in manufacturing children's furniture becomes more expensive for producers due to the increased cost of these raw materials. These factors are promoting the growth of the market in the coming years.
Based on type, the kids storage furniture market is categorized into wardrobes, toy storage, bookshelves, chests, boxes & baskets, and hooks & hangers. The wardrobes segment procured a considerable growth rate in the kids storage furniture market in 2021. Rooms with limited space necessitate introducing novel products like wardrobes, which will likely entice more clients to purchase them, promoting segment expansion. Furthermore, manual wardrobes are anticipated to grow in popularity due to their lower maintenance and repair costs. In addition, fast globalization and urbanization have increased the need for a comfortable and opulent lifestyle, which has increased the demand for products like multifunctional wardrobes.
On the basis of material, the kids storage furniture market is divided into wood, metal, and plastic. The plastic segment witnessed a significant revenue share in the kids storage furniture market in 2021. Plastic storage furniture's great tensile strength and durability are the primary drivers propelling the segment's expansion. The increased availability of novel furniture styles and customer inclinations toward lightweight and multifunctional furniture assists in sustaining the plastic children's storage furniture industry. Additionally, they are not susceptible to fracture or cracking, making them safer for children. Plastic furniture pieces are lightweight, making them suitable for children.
Based on distribution channel, the kids storage furniture market is segmented into offline and online. The offline segment garnered the maximum revenue share in the kids storage furniture market in 2021. The expansion of this segment may be linked to the notion that offline channels allow buyers to examine the quality of products and compare the quality and pricing of the items with similar products from a variety of manufacturers. This element aids parents in making an informed choice when buying goods. Additionally, modern manufacturers are altering how buyers purchase furniture.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 9.2 Billion |
| Market size forecast in 2028 | USD 28.6 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 17.9% from 2022 to 2028 |
| Number of Pages | 196 |
| Number of Tables | 370 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Material, Type, Distribution Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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On the basis of region, the kids storage furniture market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment acquired the highest revenue share in the kids storage furniture market in 2021. The existence of major product manufacturers increased consumer demand for personalized kids' furniture, and the recent increase in home renovation trends are the main drivers of regional market growth. In addition, manufacturers have been developing goods that contribute to creating an appropriate environment for playing, studying, working, or relaxing. This has increased demand for storage furniture suitable for children in the region's housing industry.
Free Valuable Insights: Global Kids Storage Furniture Market size to reach USD 28.6 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Crate and Barrel (Otto Group), Wayfair Inc., Williams-Sonoma, Inc., Million Dollar Baby Co., Blu Dot Design & Manufacturing, Inc., KidKraft Inc., Sorelle Furniture (C&T International), Circu Magical Furniture, Casa Collection Design Inc, and FirstCry.com (BrainBees Solutions Pvt. Ltd.)
By Material
By Distribution Channel
By Type
By Geography
The global Kids Storage Furniture Market size is expected to reach $28.6 billion by 2028.
Rising need for upscale kids' storage furniture are driving the market in coming years, however, High-Priced raw materials utilized in production and the possibility that the result would be of poor quality restraints the growth of the market.
Crate and Barrel (Otto Group), Wayfair Inc., Williams-Sonoma, Inc., Million Dollar Baby Co., Blu Dot Design & Manufacturing, Inc., KidKraft Inc., Sorelle Furniture (C&T International), Circu Magical Furniture, Casa Collection Design Inc, and FirstCry.com (BrainBees Solutions Pvt. Ltd.)
The Wood segment acquired maximum revenue share in the Global Kids Storage Furniture Market by Material in 2021 thereby, achieving a market value of $13.2 billion by 2028.
The Bookshelves segment is leading the Global Kids Storage Furniture Market by Type in 2021 thereby, achieving a market value of $9.2 billion by 2028.
The North America market dominated the Global Kids Storage Furniture Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $9.7 billion by 2028.
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