Sales of Home Organization Products Used in Closets to Grow 4.8% Annually Through 2023

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Mar 05, 2019, 11:33 ET

CLEVELAND, March 5, 2019 /PRNewswire/ -- Demand for home organization products used in closets is projected to advance 4.8% per year through 2023 to $3.4 billion. The use of home organization products in closets is well established, as storage is their primary purpose. As a result, closets are the rooms where the largest amount of home organization products are used. These and other trends are presented in Home Organization Products, a new study from The Freedonia Group, a Cleveland-based industry research firm.

More information about this study is here: https://www.freedoniagroup.com/industry-study/home-organization-products-3714.htm

Gains will be among the fastest rates posted for all rooms, benefiting from:

a growing housing stock, increasing the number of bedrooms and attached closets
continued trends toward larger closets, particularly in newer, higher end homes
the added value that a closet with home organization products – particularly high end products – provides, promoting upgrades to consumers and builders
desire for more closet space and organization, resulting in a heightened need to maximize the current space with organization products

Demand for home organization products for all rooms (Closets, Garages, Family Rooms, Bedrooms, Pantries and Kitchens, and Bathrooms and Utility Rooms) is projected to reach $12.7 billion in 2023 on gains of 3.8% per year. A healthy economy will support continued advances in this consumer-facing industry. Further demand growth will result from:

increasing consumer interest in home organization products, resulting from lifestyle trends like downsizing, decluttering, and urban living, as well as from media coverage of organization trends and products
the growing market for high-value products that are constructed of more aesthetically pleasing materials, offer customizable features, or meet specialty needs
a strong construction and remodeling sector, which supports sales of professionally installed home organization products, particularly as these products are increasingly considered to add value to a home

Home Organization Products (published 02/2019, 226 pages) is available for $5300 from The Freedonia Group. Please link citations to https://www.freedoniagroup.com/Home-Organization-Products.html

About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Consumer Goods studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
+1 440.684.9600
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SOURCE The Freedonia Group