Kitchen cabinet demand is projected to increase 4.6% annually to $17.3 billion by 2023, according to a new forecast from The Freedonia Group. The forecast estimates unit demand for kitchen cabinets will reach 101.8 million during the same time period.
Growth in the kitchen cabinet market will be supported by homeowner interest in installing more and larger cabinets to provide additional storage space and by kitchen island and counter-style seating design trends that incorporate more cabinets into residential design. Demand growth will also be supported by manufacturer efforts to include amenities such as LED lighting, pull-out shelves, and racks in kitchen cabinets, which will boost the average sale price of cabinet products.
Read More
