Market Trends of United States Kitchen Furniture Industry
This section covers the major market trends shaping the US Kitchen Furniture Market according to our research experts:
Increase in Residential Construction is Driving the Market
With the rise in residential housing, demand for kitchen furniture has increased in the United States. The performance of the housing market has a direct impact on the manufacturing of kitchen furniture. The residential housing sector in the United States is likely to generate increased demand for kitchen furniture in the country, thus boosting the future growth prospects of the market. Additionally, increasing home renovation activities in the country may drive the demand for kitchen furniture in the short term. The United States home improvement industry is stronger than it has been in over ten years and encompasses the sale of building materials, furniture, appliances, décor, and other home enhancements, and the services offered by contractors, tradespeople, and other workers who help build, install, modify, and upgrade homes.
The business of homeownership represents a significant portion of the US economy. With a nationwide shortage of housing and record-high home prices, more homeowners prefer to stay in their properties versus move or upgrade to new ones in the United States. Moreover, researches indicate that during these renovation activities, consumers are most likely to upgrade their furniture. The new housing construction is one of the primary factors determining the demand for kitchen furninture in the country.
Wood Type Witnessing Strong Growth in Kitchen Furniture
In the residential segment, wooden furniture, such as dining tables, kitchen furniture cabinets, observe considerable demand in the region. The growth is mainly driven by the dynamics in the industrial pallet lumber segment and significant consumer spending on the kitchen furniture industry. There is a positive outlook for wooden components and industrial products throughout the United States. The availability of customized wooden kitchen cabinets at affordable prices, as compared to conventional kitchen cabinets, is increasing their demand in the United States.
