2016 Almanac Market Segments: Cabinets
November 28, 2015 | 7:08 pm UTC
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Photo By MasterBrand Cabinets

The cabinet industry continues to rebound, not just nationally, but also globally. According to World Cabinets from The Freedonia Group, global demand for cabinets is projected to grow 5.5% annually, reaching $64.4 billion in 2018.

According to a recent survey by RICKI, affluent homeowners are far more likely than others to use designers and architects when undertaking a kitchen remodel or improvement.  Additionally,  affluents are much more likely than others to say, if they had it to do over again, they would use a designer or architect.

North American cabinet sales will rise 6.3% annually to $18.7 billion in 2018. U.S. demand will grow 6.6% annually to $16 billion, spurred in part by the continued recovery of the U.S. housing market.

Greater increases will be seen in the Asia/Pacific market, which will hit $19.7 billion (7.3% annual growth). Demand in Western Europe will grow at a slower rate, 3.2% annually to $17.5 billion. Central and South America, Eastern Europe and Africa/Mideast are projected to reach $3.2, $3.1 and $2.2 billion respectively.

Cabinetry & Countertops: kitchen cabinetry, bath cabinetry, countertops, vanities, islands

Quick Stats

Contemporary and transitional are the most common bathroom styles. The average price points for kitchens and baths: $36,400 and $18,400.

U.S. countertop demand is projected to increase to $29.3 billion in 2019.

Cabinet design trends: gray & neutral combinations and textured materials.

Sources: The Freedonia Group, Houzz, KCMA, NKBA, RICKI

Major Players

  • MasterBrand Cabinets
  • Masco Corp.
  • American Woodmark Corp.
  • RSI Industries
  • Elkay-Yorktown-Medallion
  • acpi Cabinets
  • Wood-Mode
  • Leedo Cabinetry
  • Wellborn Cabinet
  • Master WoodCraft Cabinetry

 

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