ROCKVILLE, Md., March 13, 2017 /PRNewswire/ -- Spring has (almost) sprung and the annual rush to scrub, cleanse, and sterilize our homes will soon be underway. Yet the practicality of getting one's home in order extends beyond the mere gusto of ritualized spring cleaning to mirror the season's sentimental spirit of renewal. In fact, one of the simplest ways to breathe new life into our living spaces without costly renovations is to not only clean, but to declutter and organize.
While most Americans are unlikely to end up on an episode of A&E's Hoarders, the reality is that most of us simply have an overabundance of "stuff" that could use organizing year round. Two thirds of American adults agree they could use more home organization products (not including food storage) in their homes, according to a survey published in Home Organization in the U.S.: General Purpose, Closets, Garages, and Storage Sheds, 4th Edition, a new report by market research firm Packaged Facts.
"The U.S. has reached 'peak stuff'—people owning too many things. A strong trend has subsequently emerged that advocates for 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," says David Sprinkle, research director, Packaged Facts. "Without dedicated and appropriate storage spots in and outside the home, chaos kicks in and is followed by stress."
This trend toward simplicity and control of clutter has proven lucrative for home organization products, which had retail sales of $16 billion in 2016. Sales of do-it-yourself (DIY) products accounted for the lion's share of the sales total, with installed products accounting for the rest. The market grew at an estimated compound annual growth rate (CAGR) of 5% between 2012 and 2016. Sales grew at a faster pace than in previous periods due to a continuing economic recovery and pent up demand for storage and organization products. Products for closets, garages, kitchens and pantries have been growth drivers, along with outdoor storage sheds.
"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. 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," says Sprinkle.
Looking ahead to 2021, Packaged Facts forecasts a continued surge in both demand and sales. Products for garages and sheds are expected to lead overall growth. Likewise, the DIY segment will sustain its dominance over the install segment due to the lower product cost as well as financing often required for bigger-ticket installed items.
About Home Organization in the U.S., 4th Edition
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