The Future of the Youth Consumer Historical and Projected Births from 1950 to 2045
This is the first in a series of factoids detailing demographic shifts, especially over the next five and ten years, that will impact the Youth Furniture industry. Our factoid series starts with the history of U.S. births and projections into the future and will continue over the next few weeks with growth projections of the youth population by age group and growth projections by age group of women of childbearing age.
The number of births peaked in the U.S. in 1957 at 4.30 million babies and did not reach that number again until 2007 when births reached 4.32 million and started to decline. And although births are now on a slow rise, it will be another 30 years from now when births finally top the 4.3 million annual level again.
After a downward spiral of (-8.6)% from 2007 to 2010 during the Great Recession, births are projected to slowly grow an average of 1.4% every 5 years until reaching 4.34 million in 2045.
This slow but steady growth will increase the “Under 5” age group for decades to come while the older youth groups wait for these babies to filter into their age segments – ultimately spurring the need for youth furniture.
Sources: National Vital Statistics System, Center for Disease Control; U.S. Census Bureau, Projections of the Population of the U.S.