The global kids storage furniture market size is expected to reach USD 55.13 billion by 2032, according to a new study by Polaris Market Research. The report “Kids Storage Furniture Market Share, Size, Trends, Industry Analysis Report, By Type (wardrobes and Bookshelves); By Material; By Distribution Channel; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Rising birth rate, urbanization, and disposable income among new-age middle class millennial generation expected to boost the market forward. In mid-November 2022, there were 8.0 billion people on the planet, up from 2.5 billion in 1950, and 1 billion since 2010 and 2 billion since 1998. The population of the world is projected to rise by almost 2 billion people over the course of the next 30 years, from the present 8 billion to 9.7 billion in 2050, with a potential peak of roughly 10.4 billion in the middle of the 1980s. This will create a wide range of opportunities for the market as population growth increases, the people's interests to purchase or remodeling of Houses will rise and also the allocation of room to the kids also rise in a way the demand for kid storage furniture will increase in upcoming years.
As a result of increased real estate costs, it is projected that residences and children's rooms would alter in size, creating growth opportunities for companies that offer light, portable, and simple-to-assemble furniture for kid's rooms. Additionally, the spike in remodeling jobs has led to an increase in the cost of baby rooms, playrooms, and study rooms. For the purpose of combining clothes, books, toys, and other items in one location, parents are including versatile furniture. These developments are also anticipated to accelerate industrial growth. Additionally, there has been a growing market trend for 3D-printed furniture.
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The disposable income of the individual is increasing day by day since 1940 to 2020 According to the data analysis by the St. Louis fed. Rising disposable income creates a wide range of opportunities in the market. As disposable income increases, parents are more likely to invest in furniture and storage solutions for their children's rooms. This will further propel the growth of the kids storage furniture market as an increase in disposable income can lead to an increase in the demand for kids' storage furniture, as parents are more likely to invest in high-quality, durable, and stylish furniture and storage solutions for their children's rooms.
Disposable income refers to the money that people have available to spend after all necessary expenses have been paid. As disposable income increases, people are more likely to invest in non-essential items, such as furniture and storage solutions for their children's rooms. As parents' disposable income increases, they are more likely to invest in high-quality, durable kids storage furniture that can withstand the wear and tear of daily use. They may also be more likely to purchase additional items, such as decor and accessories, to complement the furniture. Additionally, as disposable income increases, parents may be more likely to invest in furniture and storage solutions that are designed to be both functional and stylish. This could drive the demand for kids storage furniture with unique designs, colors, and materials, which can influence the growth of the market by providing more options for consumers.
Kids Storage Furniture Market Report Highlights
Polaris Market Research has segmented the kids storage furniture market report based on Type, Material, Distribution Channel and region:
Kids Storage Furniture, Type Outlook (Revenue - USD Billion, 2019 - 2032)
Kids Storage Furniture, Material Type Outlook (Revenue - USD Billion, 2019 - 2032)
Kids Storage Furniture, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)
Kids Storage Furniture, Regional Outlook (Revenue - USD Billion, 2019 - 2032)