10 Apr, 2018, 12:36 ET
ROCKVILLE, Md., April 10, 2018 /PRNewswire/ -- Two thirds of American adults claim they could use more home organization products in their home, according to Home Organization in the U.S.: General Purpose, Closets, Garages, and Storage Sheds, 4th Edition, a report by market research firm Packaged Facts.
The reality is, America has reached "peak stuff", with too many consumers owning too many things. The effect of this overconsumption has created a strong trend advocating for simplicity, minimalism, and—above all else—control of clutter.
"If America's annual spring cleaning ritual has taught us anything, it's that home organization is not just about getting rid of things, but also recognizing that everything you own needs a place to store," says David Sprinkle, research director for Packaged Facts. "Without dedicated and appropriate storage spots in and outside the home, chaos kicks in and is followed by stress."
Packaged Facts projects sales of home organization products approached $17 billion in 2017 and will grow to just below $20 billion by 2021. The sales figures include projects such as bins, baskets, and totes; shelving; modular units; hanging storage; outdoor storage sheds; and various related accessories.
Leading the project growth will be products for garages and sheds to satisfy pent up demand. The DIY segment will grow at a faster pace than the installed segment on a unit basis, due to the lower product cost as well as financing often required for bigger-ticket installed items. 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. Garage product sales will be driven by many of the same factors impacting shed products. Many homeowners continue to want a more organized garage to allow space for cars and to create a more aesthetic space that is often used as the entryway into the house. Not to be forgotten, closet and pantry/kitchen product sales are projected to increase as well. Growth in closet sales will be driven by a continuing desire for bigger closets in master and other bedrooms, as well as closets throughout the house for pantry items, linens and other supplies.
In addition, kids' storage will continue to grow as distribution and awareness expands, and parents look for organizers that are fun, decorative and functional. Specialty products for under-used spaces and those targeting the storage and accessibility needs of aging Baby Boomers and seniors should also continue to outperform.
As often is the case with the housing market, there remains looming anxiety over a potential crash in real estate at some point in the future. But even such a development wouldn't substantially affect home organization product sales, notes Sprinkle.
"Even if housing slows, home organization product sales should continue to grow since consumers in existing homes still have a lot of stuff that needs organizing. The need to organize and maximize space won't stagnate even as people downsize," says Sprinkle. "In the face of economic and other challenges, the home organization market should perform better than many other household product categories, because real consumer demand exists and continues to grow for the products."
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
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