Market Trends

US Kitchen Organizers Market Sees Remarkable Growth, Set to Surpass $23 Billion by 2029

DUBLIN, March 8, 2024 /PRNewswire/ -- The latest report titled "US Kitchen Organizers Market - Focused Insights 2024-2029" has been introduced and is a significant addition to ResearchAndMarkets.com's offerings. This comprehensive analysis reveals that the U.S. kitchen organizer market, initially valued at USD 20.29 billion in 2023, is projected to grow to a staggering $23.59 billion by 2029. This growth, representing a compound annual growth rate (CAGR) of 2.54% from 2023 to 2029, indicates a thriving sector buoyed by various market drivers.

Demand Fuelled by Hospitality and Home Improvement

One of the primary catalysts behind this growth spurt is the burgeoning hospitality industry. The last few years have witnessed a meteoric rise in short-term stays, a consequence of the increasing popularity of vacation rental platforms such as Airbnb and Vrbo. These services demand efficient, space-saving solutions due to their typically smaller kitchen spaces, propelling the need for versatile and compact organizers that can simultaneously enhance the storage capacity and the guest experience. Furthermore, the hotel and restaurant sectors have seen a significant demand in the U.S., further compounded by a 9% increase in hotel occupancy rates in the U.S. in 2022, according to the American Hotel & Lodging Association. This trend is likely to further bolster the demand for kitchen organizers in the upcoming years.

In parallel, a surge in home improvement activities has served as a major driving force in the U.S. kitchen organizer market. There are various reasons for this development, including an uptick in home values, a rise in disposable income, and an emphasis on efficiency, functionality, and space optimization. Homeowners are viewing the kitchen as a key area of focus, spending lavishly on renovations. Harvard University's Joint Center for Housing Studies reports that Americans spend over $500 billion annually on residential repairs and renovations. As a result, the quest for organized, well-designed kitchens that give homes a touch of modernity is accelerating, which in turn ignites an upward trend in market demand.

Industry Leaders and Market Penetration

This report has also identified key players who have made significant inroads into the U.S. kitchen organizer market. Titans of the industry such as Jones Plastic and Engineering Company, LLC, Knape & Vogt, Neighborly, Inc., Newell Brands, The Container Store, and The Home Depot are highlighted for their market penetration. These established firms are recognized for providing durable, cost-effective organizers that address essential needs and offer space optimization solutions. With their focus on high-quality, innovative offerings, these brands cater to both premium and mid-range customer segments.

Segment Growth and Predicted Trajectories

The report delves into detailed market segments, offering insights into their growth trajectories. The drawers, upper & lower cabinet organizers segment, for instance, is anticipated to show substantial growth with an impressive CAGR of 2.75% within the forecast period. The drivers for this growth include increased interest in kitchen organization, an elevated popularity of pull-out shelves, higher disposable incomes, and a demand for space optimization solutions.

In terms of materials, wood has emerged as a valuable and swiftly expanding segment within the market. Its popularity stems from its sustainability, durability, and aesthetic appeal, making wood-based products a preferred choice, especially for those with budget constraints. Proper maintenance can ensure these products’ longevity, adding a contemporary flair to kitchens when mixed with other materials.

Another dimension of the market is the end-user segment where the residential sector currently dominates, holding more than a 75% market share. With an increase in disposable funds for home improvement projects, U.S. consumers are leaning towards custom kitchen organizers, such as pull-out shelves and pantry organizers, that are tailored to fit their specific needs and match their kitchen designs. This focus on customization and durability is expected to continue driving the demand in the residential sector.

Meanwhile, the distribution channel of online stores is witnessing notable expansion and is forecasted to grow at the highest CAGR of 3.54%. The surge is attributed to the convenience and competitive pricing online stores offer, coupled with the launch of promotional deals and price wars. Consumer preference for purchasing kitchen organizers through online channels is on an upward curve, thanks to the considerable savings they offer.

Questions and Vendor Landscape

The report also answers pivotal questions regarding the size and growth rate of the U.S. kitchen organizer market, the key market drivers, and the dominant industry players, providing a clear perspective for potential investors and businesses looking to enter the market.

The vendor landscape is further explored, showcasing not only the key vendors but also other prominent players like Closet Maid, Hafele, Helen of Troy Limited, and many others that collectively contribute to the diversity and competitiveness of the market.

Detailed Market Segmentation

For a more granular view of the market, the report segments the U.S. kitchen organizer market based on product, material, end-user, and distribution channel. This segmentation is expected to assist stakeholders in identifying specific areas of growth and opportunities for investment.

The segmentation includes a wide array of products ranging from drawers and cabinets to countertop organizers. Material segments cover options from plastic and metal to wood. The end-user insights further categorize the market into residential, HoReCa (Hotel/Restaurant/Café), and others, while distribution insights include supermarkets, specialty stores, and online retailers—all detailed within the span of 2023 to 2029.

For those seeking to explore comprehensive details of the report and gain in-depth insights into this nuanced market, the full document is available at ResearchAndMarkets.com.

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In closure, this rigorous report sheds light on the potential held within the U.S. kitchen organizer market. With an anticipated market value surge to over $23 billion by 2029, it underscores how consumer behavior, preferences, and varying market forces are shaping a dynamic sector poised for significant investment and growth opportunities. Considering the predicted increase in demand driven by both residential home improvements and the hospitality industry's quest for sustainability and optimal guest experiences, the roadmap for the U.S. kitchen organizer market appears robust, detailed, and propitious for the years ahead.