ROCKVILLE, Md., April 11, 2017 /PRNewswire/ -- Virtually all product trends and sales in the U.S. home organization products market are driven by the fact that the U.S. has reached "peak stuff"─ people owning too many things. Because of this a strong trend has emerged that preaches simplicity, minimalism and control of clutter. It's not just getting rid of things but recognizing that everything you own needs a place to store. Without dedicated proper storage spots in and outside the home there tends to be chaos, followed by stress. Therefore while challenging the home organization market continues to perform better than many other household product categories.
Packaged Facts estimates overall U.S. retail sales of home organization products reached $16 billion in 2016 as reported in Home Organization in the U.S.: General Purpose, Closets, Garages, and Storage Sheds, 4th Edition. Sales grew at a faster pace than in previous periods due to a continuing economic recovery and pent up demand for products such as outdoor storage sheds and items for closets, garages, kitchens and pantries. Packaged Facts projects sales will grow at a CAGR of 4% to reach $19.5 billion in 2021.
Consumer demand exists and continues to grow for home organization products. Consumers say they need more products. Two thirds of American adults agree they could use more home organization products (not including food storage) in their homes. To solve their growing storage conundrums, most Americans don't need intervention, they need innovation. And they need innovation not just inside the home in obvious spaces like closets, pantries and kitchens. The need is continually expanding to spaces directly outside the home as well. As a result, the growth of sheds reflects continued demand for storing outdoor equipment as well as possessions that overflow from garages, basements and other parts of the home.
The home organization market is highly competitive with hundreds of primarily small, privately held manufacturers and marketers competing for share. It's also highly fragmented and Packaged Facts estimates that ten leading companies (excluding sheds) have a combined market share of only 20%. While new companies continue to enter the market, there are shifts occurring as major players exit the business or parts of it.
About the Report
The fourth report in this series focuses on the market for home organization products sold to consumers in America. Products covered include items used by consumers to store and organize things within and outside their homes. The report broadly categorizes products for closets & bedrooms, garages, other rooms, and outdoor. Products are purchased by consumers as do-it-yourself (DIY), or installed items that are assembled by others. Packaged Facts also defines the market in six product segments: Bins, Baskets, & Totes; Shelving; Modular Units; Hanging Storage; Accessories & Others; and Outdoor Storage Sheds.
View additional information about Home Organization in the U.S.: General Purpose, Closets, Garages, and Storage Sheds, 4th Edition, including purchase options, the abstract, table of contents, and related reports at Packaged Facts' website: https://www.packagedfacts.com/Home-Organization-General-10693395/.
More of Packaged Facts' consumer goods market reports can be found and purchased at: https://www.packagedfacts.com/consumer-goods-market-c80/.
About Packaged Facts
Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, consumer packaged goods, and pet products and services. Packaged Facts also offers a full range of custom research services.
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SOURCE Packaged Facts