Kids Storage Furniture Market Growth & Trends
The global kids storage furniture market size is expected to reach USD 47.62 billion by 2030, registering a CAGR of 20.3% over the forecast period, according to a new report by Grand View Research, Inc. The increasing need for storage furniture owing to the necessity to store belongings for future purposes is aiding the market to thrive. In addition, storage cabinets are highly helpful in classrooms as they let students organize and manage their files and documents without creating clutter.
Various storage cabinet types are made to accommodate a child’s need for storage. The basic pieces of furniture that are bare essentials for children’s bedrooms are a bed, a desk, a closet, or a chest of drawers along with a shelf for their books, toys, and other belongings.
The key to planning any small space home is finding ways to utilize the floor space judiciously. A single bed is always the most space-efficient option, but putting drawers or boxes beneath the bed can also serve as extra closet space for kids’ belongings.
The bookshelves segment dominated the industry, in terms of revenue, and is anticipated to remain dominant during the projection period. Bookshelves help organize books of different sizes while also giving people room for other things like picture frames, accents, etc. North America held the largest revenue share in 2022 owing to the continuous expansion of the residential sector because of the increasing number of people. A rise in the number of childcare or daycare service providers in North America is a key contributing factor to the demand for kids’ furniture.
Moreover, a rise in on-site childcare services supported by government initiatives to encourage working mothers has also been contributing to the growth of the industry. Due to the COVID-19 pandemic, schools have been shut and classes are conducted online. This, in turn, makes it important to set up a comfortable study for children at home to facilitate effective learning. 90% of school-age children worldwide, or nearly 1.6 billion students in 190 countries, were affected by this situation as of August 2020, according to UNESCO statistics. In many countries, there are still no definite plans for opening schools. This has created an increased demand for bookshelves and toy storage products to set up an effective learning environment at home, which will likely favor market growth.
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Kids Storage Furniture Market Segmentation
Grand View Research has segmented the global kids storage furniture market on the basis of type, material, distribution channel, and region:
Kids Storage Furniture Type Outlook (Revenue, USD Million, 2017 – 2030)
- Toy Storage
- Boxes & Baskets
- Hooks & Hangers
Kids Storage Furniture Material Outlook (Revenue, USD Million, 2017 – 2030)
List of Key Players in the Kids Storage Furniture Market
- Williams Sonoma Inc.
- Million Dollar Baby Co.
- Wayfair Inc.
- Blu Dot
- First Cry
- Sorelle Furniture
- Circu Magical Furniture
- Crate and Barrel
- Casa Kids
Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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