U.S. demand for cabinets is projected to grow 6.4 percent annually to $17.3 billion in 2019, spurred by continuing consumer interest in kitchen and bathroom renovation projects. Residential improvement and repair activity has been subdued since the 2007-2009 recession, but kitchen renovations and bathroom additions held up better than many other projects, as homeowners tried to improve their home’s appearance and to boost property values.
Improving economic conditions will encourage more homeowners to renovate their homes, and many are expected to install cabinets. Demand will also be spurred by the popularity of value-added amenities, such as pull-out shelving, storage racks, and integrated lighting. These and other trends are presented in Cabinets, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.
Kitchen cabinets account for the vast majority of demand and will continue to do so, spurred by growth in residential building construction expenditures and continuing consumer interest in the use of cabinets for storage. Advances will also be supported by consumer interest in cabinets that are more aesthetically pleasing or enhance convenience.
According to senior analyst Matt Zielenski, “Semicustom and custom cabinets that feature intricate carvings will be specified by those looking to beautify their homes, while busy cooks will opt for deeper cabinets that provide more storage space, and are equipped with easy-to-open doors and readily accessible shelving and storage racks.”
Demand for bathroom cabinets is forecast to reach $1.9 billion in 2019. Over the past decade, the number of new residences with two or more bathrooms has risen; this trend is expected to continue going forward. Also, more homeowners will add bathrooms as part of renovation projects. Smaller bathrooms will likely include a medicine chest for personal items, while larger-sized bathrooms can feature one or more vanities to provide more storage. Demand for other cabinets will rise as consumers look for aesthetically pleasing alternatives to shelves and racks in their bathrooms. Cabinets, published in January 2016, is 383 pages and is available for $5400 from Freedonia Group, Inc. See www.freedoniagroup.com.
US CABINET DEMAND
% Annual Growth
The Freedonia Group, Inc.
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