The kitchen cabinet industry is a rapidly growing sector, with the global market size valued at USD 72.2 billion in 2020 and expected to witness a CAGR of 5.5% during the forecast period 2021-2028. North America holds the largest share of 38%, while Europe’s contribution is estimated to increase from 22% in 2020 to 25% by 2025. Wooden-based cabinets held 49.6% of total value in 2020, followed by modular cabinets which are witnessing an increasing demand with 6.3%.
Eco-friendly materials such as MDF have been gaining traction due to their soundproofing properties and are projected for growth at 6.1%. The residential sector accounts for more than 82%, whereas online sales channels contribute 13%. White remains the most preferred color option among homeowners, accounting for 32%, while premium kitchen cabinets grow 7.8%.
China occupies 36% of global market share and will continue its dominance till 2023; however, Ukraine has emerged as one of top 10 countries contributing significantly towards this industry’s growth prospects over next few years
Kitchen Cabinet Industry Statistics Overview
The kitchen cabinet market in the United States is expected to grow from 17.1~17.9 billion U.S dollars in 2020 to 24.5 billion U.S dollars in 2025.
This statistic is a clear indication of the potential of the kitchen cabinet market in the United States. It shows that the industry is expected to experience a significant growth in the coming years, which is a great sign for those interested in the kitchen cabinet industry. This statistic is a valuable piece of information for anyone looking to gain insight into the industry and its future prospects.
North America is the largest revenue-generating region for the kitchen cabinet industry, accounting for over 38% of the global market share.
This statistic is a powerful indicator of the kitchen cabinet industry’s success in North America. It highlights the region’s dominance in the global market, with over a third of the total market share. This is a testament to the industry’s strength in the region, and it serves as a reminder of the potential for further growth in the future.
The demand for modular kitchen cabinets has been witnessing a significant increase, growing at a CAGR of 6.3% during the forecast period.
This statistic is a clear indication that the kitchen cabinet industry is on the rise. It shows that the demand for modular kitchen cabinets is growing at a steady rate, indicating that the industry is in a healthy state. This is great news for those in the industry, as it means that there is a growing market for their products and services. Furthermore, this statistic provides valuable insight into the industry, allowing businesses to make informed decisions about their strategies and investments.
Europe’s share in the global kitchen cabinet market is expected to increase from 22% in 2020 to 25% in 2025.
This statistic is a clear indication that the kitchen cabinet industry in Europe is on the rise. It shows that the industry is growing and that European companies are becoming more competitive in the global market. This could mean that European companies are investing in new technologies and processes to improve their products and services, or that they are expanding their market share by entering new markets. Whatever the case, this statistic is a sign that the kitchen cabinet industry in Europe is on the upswing and is likely to remain a major player in the global market for years to come.
In 2020, wooden-based kitchen cabinets held the largest market share of 49.6% in terms of value.
This statistic is a telling indication of the current state of the kitchen cabinet industry. It shows that wooden-based kitchen cabinets are the most popular choice among consumers, accounting for nearly half of the market share in terms of value. This is an important insight for anyone looking to gain a better understanding of the industry and its trends.
The demand for eco-friendly, sustainable, and soundproofing materials in kitchen cabinets is witnessing a growth rate of approximately 6.7% during the forecast period.
This statistic is indicative of a larger trend in the kitchen cabinet industry: the increasing demand for eco-friendly, sustainable, and soundproofing materials. This shift in consumer preference is likely to have a significant impact on the industry, as manufacturers will need to adjust their production processes to meet the changing needs of their customers. As such, this statistic is an important indicator of the direction the kitchen cabinet industry is heading in, and is essential for anyone looking to stay up-to-date on the latest industry trends.
In 2023, the online sales channels are estimated to contribute around 13% to the total kitchen cabinet industry.
This statistic is a crucial indicator of the future of the kitchen cabinet industry. It shows that online sales channels are expected to play an increasingly important role in the industry, and that businesses should be prepared to take advantage of this growing trend. By understanding this statistic, businesses can better plan their strategies and investments to ensure they remain competitive in the industry.
The demand for premium kitchen cabinets is expected to grow at a CAGR of 7.8% during the forecast period.
This statistic is a key indicator of the potential for growth in the kitchen cabinet industry. It suggests that the demand for premium kitchen cabinets is likely to increase over the forecast period, indicating that the industry is likely to experience a period of expansion. This could be a great opportunity for businesses in the kitchen cabinet industry to capitalize on the growing demand and increase their profits.
The Asian kitchen cabinet industry is growing at the fastest rate, with a CAGR of 7.3% from 2021 to 2028.
This statistic is a testament to the booming success of the Asian kitchen cabinet industry, indicating that it is outpacing the growth of other kitchen cabinet industries. This is a clear indication that the Asian kitchen cabinet industry is a major player in the industry, and is likely to remain so in the years to come. This statistic is an important piece of information for anyone looking to gain insight into the kitchen cabinet industry and its future prospects.
The residential sector accounted for more than 82% of the total kitchen cabinet market in 2020.
This statistic is a telling indication of the residential sector’s dominance in the kitchen cabinet market. It highlights the importance of the residential sector in driving the industry’s growth and success. It also serves as a reminder of the importance of catering to the needs of residential customers in order to remain competitive in the kitchen cabinet market.
In 2020, the ready-to-assemble segment held the largest share in the global kitchen cabinet market, with around 44% of the total market size.
This statistic is a powerful indicator of the current state of the kitchen cabinet market. It shows that the ready-to-assemble segment is the dominant force in the industry, accounting for a significant portion of the total market size. This highlights the importance of this segment in the industry and provides valuable insight into the current trends in the kitchen cabinet market.
The global laminated particleboards/plywood segment is anticipated to witness a growth rate of over 11% between 2021 and 2026.
This statistic is of utmost importance to the kitchen cabinet industry, as laminated particleboards/plywood are a key component in the production of kitchen cabinets. With a projected growth rate of over 11% in the coming years, the kitchen cabinet industry can expect to benefit from an increased availability of these materials, allowing for more efficient production and a wider range of options for consumers.
The MDF-based kitchen cabinet segment is projected to grow at a CAGR of 6.1% during the forecast period 2021-2028.
This statistic is a crucial indicator of the future of the kitchen cabinet industry, as it provides insight into the projected growth of the MDF-based kitchen cabinet segment. It is an important piece of information for anyone interested in the industry, as it can help them make informed decisions about investments and other business decisions. Furthermore, it can help readers of the blog post gain a better understanding of the industry and its potential for growth.
Approximately 61% of homeowners are investing in upgrading cabinets, including for accessibility purposes.
This statistic is a clear indication that the kitchen cabinet industry is booming. It shows that homeowners are increasingly investing in upgrading their cabinets, which is a positive sign for the industry. This statistic is also important because it highlights the growing trend of accessibility-focused upgrades, which is a testament to the industry’s commitment to making kitchens more accessible for all.
The average kitchen cabinet makes up around 40-50% of the overall budget for a kitchen remodeling project.
This statistic is a crucial piece of information for anyone considering a kitchen remodeling project, as it highlights the importance of budgeting for kitchen cabinets. It serves as a reminder that kitchen cabinets can be a major expense, and should be taken into account when planning a kitchen remodel. Knowing this statistic can help homeowners make informed decisions about their kitchen remodeling project, and ensure that they are able to stay within their budget.
In 2020, white kitchen cabinets were the most preferred color option among homeowners, accounting for around 32% of new renovation projects.
This statistic is a telling indication of the current trends in the kitchen cabinet industry. It shows that white kitchen cabinets are the most popular choice among homeowners, making up a significant portion of new renovation projects. This data is invaluable for anyone looking to gain insight into the industry, as it provides a clear picture of what is currently in demand.
Conclusion
The kitchen cabinet industry is a rapidly growing market, with the global size estimated to be valued at USD 72.2 billion in 2020 and expected to witness a CAGR of 5.5% during 2021-2028. North America holds the largest share of 38%, followed by Europe’s 22%. Wooden cabinets are still dominating the market, accounting for 49.6% in terms of value; however, demand for modular and eco-friendly materials is increasing significantly as well. The residential sector accounts for more than 82% of total sales while online channels contribute 13%. White remains the most popular color choice among homeowners when it comes to new renovation projects, making up 32% of all projects in 2020 alone. With an average cost ranging from $21k-$64k depending on quality and material used, investing in kitchen cabinets can be quite expensive but worth every penny if done right.
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