Kitchen Cabinet Demand to Grow Nearly 6% Annually Through 2021
October 3, 2017 (Investorideas.com Newswire) Kitchen cabinet demand is forecast to grow 5.9% per year to $17.1 billion in 2021. Tall kitchen cabinets will be the fastest growing as design trends and consumer preferences increasingly favor these products. Both base and wall kitchen cabinets will post strong gains going forward, with base cabinets continuing to account for the majority of kitchen cabinet demand. These and other trends are presented in Cabinets Market in the US, 10th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Tall kitchen cabinets are projected to reach a value of $3.2 billion in 2021 on annual advances of 7.7%. Tall cabinets are characterized as floor-to-ceiling, typically exceeding seven feet in height and not extending as far into the kitchen space as other types. According to analyst Matt Hurley, “Tall cabinets are rising in popularity due to the need for more storage as Americans continue to prepare more of their own meals rather than dine outside of the home.” Additionally, these cabinets are gaining favor because, as kitchens are becoming more of a showcase room for homeowners, tall cabinets make smaller kitchens appear larger. However, further growth will be limited by the high cost of these products and the limited space in many kitchens, recreational vehicles, and nonresidential buildings.
Base cabinets, installed just above the floor, are expected to see 5.2% annual growth through 2021. Base cabinet demand will benefit from the continuing trend of larger kitchens. A recent uptick in the popularity of outdoor kitchens with base cabinets will also drive growth.
Cabinets Market in the US, 10th Edition (published 09/2017, 176 pages) is available for $5500 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email firstname.lastname@example.org.
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About The Freedonia Group, a division of MarketResearch.com
The Freedonia Group 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. Additional Construction & Building Products studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
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