CLEVELAND, Ohio – The Freedonia Group projects closet home organization products to grow 4.8 percent annually reaching $3.4 billion in 2023. Also, according to its Home Organization Products study, demand for home organization products for all rooms across the home - closets, garages, family rooms, bedrooms, pantries and kitchens, and bathrooms and utility rooms - is projected to reach $12.7 billion in 2023 with an increase of 3.8% per year.
 
Freedonia cites the following as reasons for the rise in demand for home organization products in all rooms across the home:
a growing housing stock, increasing the number of bedrooms and attached closets
continued trends toward larger closets, particularly in newer, higher end homes
the added value that a closet with home organization products – particularly high-end products – provides, promoting upgrades to consumers and builders
desire for more closet space and organization, resulting in a heightened need to maximize the current space with organization products
 
The study also found that further demand growth will result from:
increasing consumer interest in home organization products, resulting from lifestyle trends like downsizing, decluttering, and urban living, as well as from media coverage of organization trends and products
the growing market for high-value products that are constructed of more aesthetically pleasing materials, offer customizable features, or meet specialty needs
a strong construction and remodeling sector, which supports sales of professionally installed home organization products, particularly as these products are increasingly considered to add value to a home
 
For more information or to download Freedonia latest Home Organization Products study, visit freedoniagroup.com.
 

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