United States Kitchen Furniture Market - Growth, Trends, Covid-19 Impact, and Forecast(2022 - 2027)

United States Kitchen Furniture Market - Growth, Trends, Covid-19 Impact, and Forecast(2022 - 2027)

The rising demand for multifunctional kitchen furniture is expected to bolster the growth prospects of the kitchen furniture segment. The real estate prices have plummeted significantly and have led to a considerable increasing the number of studio apartments, basically focusing on the reduced house sizes. As rooms are getting smaller, customers are increasingly looking for furniture that is compact and easily movable to allow for efficient use of the available space. And this is leading to an increasing kitchen furniture market in the United States. The kitchen furniture market is driven by the improving residential construction market and increased online sales. Increased awareness of kitchen organizers and attractive furnishings are prime reasons driving the kitchen furniture market in the United States during the forecast period. The price of softwood veneer and plywood, for instance, grew by over 13% between March 2021 and April 2021. Combined, these two changes led to significant differences in construction costs and kitchen furniture materials in various cities in the United States.

The market was negatively impacted by COVID-19 in 2020. The coronavirus pandemic has shown an impact on the proper functioning of various industries in United States which are performing well trades across the country. This was primarily due to reduced manufacturing because of the lockdown being imposed and thus halt in logistics. Increasing expenditure on furniture goods among millennials, coupled with the growing brand consciousness among them, is supporting the market to record growing revenues during the study period. The significant increase in the number of e-commerce platforms that offer various designs and models of furniture products is accelerating the growth of the market.

Key Market TrendsIncrease 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.

Competitive Landscape

The report covers major international players operating in the United States Kitchen Furniture market. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Standard Furniture
MasterBand Cabinet
Maiden home
America woodmark
Symphony Group
Golden Home
Eastvold Furniture
Howdens Joinery
Euro
Rite Cabinet
Vermont Wood Studios*

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