Kids’ Storage Furniture Market Key Drivers, Market Research, and Insights for the USD 13.9 Bn Market 2023-2031

Posted on 2024-03-29 by Transparency Market Research in Advertising // 0 Comments

Wilmington, United States, 2024-Mar-01 — /EPR Network/ — The global market for kids’ storage furniture has witnessed significant growth in recent years, driven by a multitude of factors such as population expansion, increasing disposable income, and the surge in e-commerce activities. This article delves into the key drivers, market dynamics, and regional outlook shaping the trajectory of the kids’ storage furniture industry, offering insights into its future growth potential up to the year 2031.

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Key Players and Market Developments

Ashley Furniture Industries, Casa Kids, Circu Magical Furniture, Crate and Barrel, Graco, IKEA, Million Dollar Baby Co., Sorelle Furniture, Summer Infant Inc., and Williams-Sonoma Inc. are prominent entities operating in this industry. Prominent market players are collaborating with online stores and developing their e-portals to increase their kids’ storage furniture market share.

Market Overview:

In 2022, the global kids’ storage furniture market was valued at US$ 8.7 billion, with a projected Compound Annual Growth Rate (CAGR) of 6.4% from 2023 to 2031, reaching an estimated value of US$ 13.9 billion by the end of 2031. The demand for multifunctional furniture solutions is expected to drive significant opportunities for market players, although challenges such as rising raw material costs and availability of substitutes may hinder market dynamics.

Drivers of Market Growth:

The exponential increase in global population, especially in regions like Asia Pacific, where more than half of all births occur annually, has been a primary driver for the kids’ storage furniture market. With parents increasingly focusing on creating efficient spaces for their children, the demand for innovative storage solutions has witnessed a significant uptick. Moreover, the rise in disposable income, urbanization, and the growing emphasis on early childhood development have further fueled market expansion.

E-commerce Sector Expansion:

The rapid growth of the e-commerce sector has played a pivotal role in augmenting the market for kids’ storage furniture. With the proliferation of smartphones and internet penetration, consumers now have access to a wide array of products through online platforms, providing greater convenience and choice compared to traditional brick-and-mortar stores. The projected growth of online retail sales, particularly in regions like China and the United States, underscores the significant opportunity for market players to tap into this burgeoning segment.

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Regional Outlook:

Asia Pacific is poised to dominate the global landscape of the kids’ storage furniture market from 2023 to 2031, driven by factors such as population growth and rising disposable income. North America and Europe are also expected to witness substantial growth, supported by the presence of major manufacturers and investments in research and development initiatives aimed at introducing innovative products to cater to evolving consumer preferences.

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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