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

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

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.

Kids Storage Furniture Market Report Highlights

• The wardrobe segment is expected to witness substantial growth over the forecast period owing to the usability of the furniture for arranging clothes and accessories
• The plastic segment is expected to witness substantial growth over the forecast period. Most institutions, such as schools and colleges, prefer plastic-based storage solutions over metal and wooden cabinets as they are more durable
• The online distribution channel segment is expected to witness the fastest growth rate over the forecast period
• To take advantage of value-added services like cash-on-delivery, a return policy, and after-sales support, consumers prefer shopping online
• Purchases via company portals are anticipated to increase as a result of sales over the holiday season, price reductions, and the availability of a variety of goods on these sites