CLEVELAND - According to a study from the Freedonia Group, homeowner desire for more cabinet storage, kitchen islands and counter-style seating and amenities such as LED lighting and pull-out shelves will push the demand for kitchen cabinets to $17.3 billion by 2023 - a rise of 4.6 percent annually.
The study found that base cabinets accounted for the largest share of kitchen cabinet demand in 2018 and will continue 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
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