CLEVELAND, Feb. 10, 2020 /PRNewswire/ — Demand for kitchen cabinets is projected to rise 4.6% annually to $17.3 billion 2023, with unit demand totaling 101.8 million. Gains will be supported by:
- homeowner interest in installing more and larger cabinets to provide additional storage space for foodstuffs and kitchenware
- design trends, such as kitchen islands and counter-style seating, which incorporate more cabinets into residential kitchens
- manufacturer efforts to include more amenities – such as LED lighting, pull-out shelves, and racks – in kitchen cabinets that boost their average sale price
More information regarding the Cabinets study is here: https://www.freedoniagroup.com/industry-study/cabinets-3772.htm
Base cabinets accounted for the largest share of kitchen cabinet demand in 2018 and will continue to do so through 2023. However, tall and wall cabinets will post the more rapid demand gains as consumers increasingly opt for these cabinets (instead of such options as open shelving and racks) to provide increased storage space.
Demand for tall cabinets is expected to rise at the most rapid pace of all cabinet types, growing 5.0% annually to $2.8 billion in 2023. Demand for these cabinets will be boosted by:
- consumer interest in larger cabinets that offer more storage space for foodstuffs and dishware
- consumers installing tall cabinets to store large kitchen equipment, such as mixers, to allow for more counter space
- homeowner interest in installing tall cabinets to create visual contrasts to base and wall cabinets in kitchens
Contact Corinne Gangloff for an interview with the analyst.
Additional Construction & Building Product studies can be viewed here:
https://www.freedoniagroup.com/industry-category/build/construction-building-products.htm
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
Press Contact:
Corinne Gangloff
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SOURCE The Freedonia Group
