Kids Storage Furniture Market Size, Share & Trends Analysis Report By Type (Wardrobes, Bookshelves), By Material (Wood, Plastic), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global kids storage furniture market size was valued at USD 10.86 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 20.3% from 2023 to 2030. With the rising home prices, consumers are increasingly investing in home improvement and home remodeling projects rather than buying new homes. Homeowner equity has doubled as a result of rising property values, which shows a tendency for homeowners to be richer and more inclined to invest money in home improvement projects. Project leads for home experts reported a 58% increase as of June 2020, compared to the same period in 2019, according to the online platform for home remodeling Houzz.

In addition, key manufacturers are emphasizing product portfolio enhancement through the launch of a wide range of products. As the novel coronavirus began to spread, government officials implored residents to stay at home as much as possible. In response, schools were closed for a longer time and started operating on a remote learning model. Hence, people became more conscious about their home spaces, ensuring there is enough appropriate space for the kids to play, study, etc. This opened up new avenues for the application of kids’ furniture. Manufacturers have been designing products that help create a suitable ambiance for studying, working, playing, sleeping, or relaxing, driving the product demand in the household segment.

The size of homes and children’s rooms is anticipated to change as a result of rising real estate prices, which is anticipated to present growth prospects for businesses that provide lightweight, portable, and easy-to-assemble furniture for children’s rooms. Moreover, the increasing number of remodeling projects has resulted in a rise in spending on nursery rooms, playrooms, and study rooms. Parents are including multifunctional furniture for incorporating clothes, books, toys, etc. in one place. These trends are further expected to boost industry growth. Moreover, there has been a rising inclination toward the 3D-printed furniture trend in the market.

Consumers are looking for customized furniture, better suited for their individual décor needs, and find the perfect solution in 3D printing. This type of material is built quicker than conventional techniques, as the technology is capable of concretizing even the most complex of designs in a shorter time. This efficiency also reduces the wastage of raw materials and hence reduces the overall cost. As a result, this trend is gaining popularity among consumers and manufacturers alike. Most manufacturers are putting more of an emphasis on providing kids’ furniture that is environment-friendly. Many customers prefer solutions that enhance the outside of residences and fit the architectural styles and layouts of the living areas and backyards.

As a result, producers are placing more emphasis on creating cutting-edge, opulent, and appealing products. In addition, manufacturers are leveraging various developments with respect to expanding their presence in the industry by launching online websites. For instance, in August 2019, Ashley HomeStore collaborated with Delta Children and launched kids’ furniture exclusively on the former’s website. The collection includes storage pieces, ribs, changing tables, gliders, and an assortment of products suitable for the requirements of toddlers, tweens, and teens.

Type Insights

On the basis of types, the global industry has been further categorized into wardrobes, toy storage, bookshelves, chests, boxes & baskets, and hooks & hangers. The bookshelves segment dominated the industry with a share of more than 31.50% in 2022. Bookshelves that are specifically made to keep schoolbooks and teaching materials safe are used in classrooms, libraries, labs, learning areas, offices, and cafeterias. As a result, each item has a specified place. In classes with high student enrollment, shelves are frequently used.

Moreover, they can be put simply as standalone shelves. The wardrobes segment is projected to register the fastest growth rate from 2023 to 2030. Rooms with constricted spaces increase the need to introduce innovative products, which is likely to attract more customers toward buying such items, thereby driving industry growth. Manual wardrobe is expected to gain more traction owing to the lesser maintenance and repair expenses. In addition, rapid globalization and urbanization have led to the inclination toward living a comfortable and luxurious life, leading to the rising demand for multifunctional wardrobes.

Material Insights

On the basis of materials, the global industry has been further divided into wood, metal, and plastic. The wood material segment dominated the industry in 2022 and accounted for the largest share of more than 47.35% of the overall revenue. Depending on the type of furniture, consumers frequently favor various materials. Wood, among these materials, has some benefits. The rising trend of contemporary furniture in children’s rooms will drive the growth of this segment.

Wooden furniture can support a larger load without deteriorating. The plastic segment is estimated to expand at the fastest CAGR over the forecast period. The high tenacity and durability characteristics provided by plastic furniture are the major factors promoting the segment’s growth. The increased accessibility of innovative furniture designs and the shift in customer preferences toward lightweight and versatile furniture serve to sustain the market for plastic kids' storage furniture.

Distribution Channel Insights

On the basis of distribution channels, the industry has been further bifurcated into offline and online. The offline distribution channel segment dominated the industry and accounted for the largest share of more than 55.95% of the overall revenue in 2022. Companies are also investing heavily in providing an offline shopping experience to consumers by opening brick-and-mortar stores. For instance, FirstCry is Asia’s largest online shopping store for kids. It has over 300 franchise offline stores in over 100 cities across India.

The online segment is estimated to progress at the fastest CAGR over the forecast period. The growth is credited to the rising popularity of e-commerce platforms for shopping. In addition, it is anticipated that the availability of a variety of goods from domestic and international businesses on online platforms will increase consumer preference for online shopping. Manufacturers are leveraging various developments with respect to expanding their presence in the market by launching online websites. For instance, in August 2019, Ashley HomeStore partnered with Delta Children and launched kids’ furniture exclusively on the former’s website.

Regional Insights

On the basis of geographies, the industry has been further categorized into North America, Asia Pacific, Middle East & Africa, South America, and Europe. North America dominated the industry with a share of more than 33.20% in 2022. The growth of the regional market is driven by the presence of key product manufacturers, increasing consumer preference for customized kids’ furniture, and the rising trend of home renovation in recent years.

Manufacturers have been designing products that help create a suitable ambiance for studying, working, playing, sleeping, or relaxing, driving the demand for kids’ furniture in the household segment in the region. Asia Pacific is expected to witness the fastest CAGR from 2023 to 2030. Millennial urban parents aged 28 to 40 years are spending a considerable amount of their disposable income on quality furniture and storage for their children. Moreover, it has been observed that the furniture business targeting infants and children has experienced an economic boom in recent years.

Key Companies & Market Share Insights

The industry is characterized by the presence of a few established players and new entrants. Many big companies are increasing their focus on the growing market trends. They are diversifying their product offerings to maintain a higher industry share. Some of the key players operating in the global kids storage furniture market include:

• Williams Sonoma Inc.

• Million Dollar Baby Co.

• Wayfair Inc.

• Blu Dot

• First Cry

• KidKraft

• Sorelle Furniture

• Circu Magical Furniture

• Crate and Barrel

• Casa Kids

Kids Storage Furniture Market Report Scope

Global Kids Storage Furniture Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global kids storage furniture market report on the basis of type, material, distribution channel, and region:

• Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Wardrobes

  • Toy Storage

  • Bookshelves

  • Chests

  • Boxes & Baskets

  • Hooks & Hangers

• Material Outlook (Revenue, USD Million, 2017 - 2030)

  • Wood

  • Metal

  • Plastic

• Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

  • Online

  • Offline

• Regional Outlook (Revenue, USD Million, 2017 -2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • South America

    • Brazil

  • Middle East & Africa (MEA)

    • South Africa