Kids Furniture Market Size, Share, Growth Analysis, By Product(Beds, Storage, Cribs, Table & Chair), By Material(Wood, Polymer, and Metal), By Application(Commercial, and Household), By Region - Industry Forecast 2024-2031

Kids Furniture Market size was valued at USD 38.82 billion in 2022 and is poised to grow from USD 46.16 billion in 2023 to USD 184.37 billion by 2031, growing at a CAGR of 6% in the forecast period (2024-2031).

The increase in real estate prices is expected to impact the size of houses and children's rooms, creating growth opportunities for companies that offer compact, easy-to-move, and "assemblable" furniture for kids' rooms. The COVID-19 pandemic and subsequent worldwide lockdowns and school closures have led to a surge in demand for kids' furniture, including chairs, tables, cabinets, dressers, and chests. With children attending online classes, there is now a need for a separate study space to ensure their comfort during extended school hours.

The global population rising per capita and disposable income, particularly in developing nations, is driving the expansion of the kids' furniture industry. Consumers with higher affordability are investing wisely to improve their standard of living, leading to the purchase of efficient and versatile consumer goods, which in turn boosts market growth. Furthermore, as the population continues to grow, and employment rates improve in emerging nations, a significant portion of the population can afford to spend on both essential and recreational items, contributing to the growth of the kids' furniture market. For instance, the Asia Pacific region witnessed an increase of about 23 million working people between 2017 and 2019, further driving the demand for kids' furniture in the region.

Due to the rising home prices, consumers are increasingly opting for home improvement or remodeling projects instead of purchasing new homes. The growth in home values has doubled homeowner equity, leading to homeowners feeling wealthier and more inclined to invest in home improvement projects. This trend is expected to drive the demand for kids' furniture in the foreseeable future.

US Kids Furniture Market is poised to grow at a sustainable CAGR for the next forecast year.