More than 10 million households remodeled their kitchen in 2015, amounting to a $49 billion annual industry according to research from the National Kitchen & Bath Association (NKBA). The NKBA U.S. Market Size Study: Kitchen Products also finds that consumer spending in this market ranges from an average of $1,024 for a simple replacement job, to over $19,000 for a complete remodel.
This study, completed in cooperation with The Farnsworth Group, provides detailed data on 17 major product categories in the kitchen space. It includes types of kitchen products purchased by consumers and professionals, the amount spent by each, product volumes by type of project, where items were purchased and more.
Other findings include:
Just under one in five kitchen remodel/replacement jobs (19 percent) were complete remodels, but they accounted for nearly half (47 percent) of the total kitchen spending.
Nearly half of the dollars spent (48 percent) on kitchen replacement/remodeling products are allocated for cabinets and appliances.
For all types of kitchen projects, big box stores (e.g., Home Depot, Lowe’s) are visited by around two-thirds of consumers who are remodeling, although most visit more than one type of store.
An executive summary of the study is available to NKBA members free of charge and to nonmembers for $99. The full report is $99 for members and $499 for nonmembers. Both the executive summary and full report are available at nkba.org/research.