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The rising trend of work from home is likely to drive the demand for the home organizers and storage products market. Due to the COVID-19 pandemic, work from home trend has made people in the United States focus more on home renovations and decorations. Many of them created workspace with new organizers and storage products. E-commerce sales for these products have increased due to pandemic.
All product trends and sales in the United States home organizers and storage products market are driven by the fact that Americans have a lot of, and many consider too much stuff. A strong trend has emerged that preaches simplicity, minimalism and control of clutter. The increasing numbers of households coupled with the rising level of disposable income of people are some of the factors driving the home organizers and storage products market. Other significant factors such as the rise in awareness, growing consumer acceptance and changing lifestyles will accelerate the market growth rate. Furthermore, an upsurge in the strong demand for various end-use industries will positively impact the market’s growth rate. Additionally, developing the home installations business and increase in the fraction of families will cushion the growth rate of the market. Also, the growing utilization of specialized and customized products will further increase the demand for home organizers and the storage market.
Scope of the Report
The report provides the scope of the market along with primary growth factors and offers major market insights. The United States Organizers and Storage Market report covers a brief overview of the segments and sub-segmentations including the product types, applications, and companies. This report describes the market size by analyzing historical data and future forecasts. The United States home organizers and storage market is segmented by Product (Storage Baskets, Storage Boxes, Storage Bags, Hanging Stores, Multipurpose Organizers, Travel Luggage Organizers, and Others), by Application (Bedroom Closets, Laundry Rooms, Home Offices, Pantries and Kitchen, Garages, and Others), and by Distribution channel (Supermarkets and Hypermarkets, Specialty Stores, Online, Others).
|Travel Luggage Organizers|
|Pantries and Kitchen|
|By Distribution Channel|
|Hypermarkets and Supermarkets|
|Other Distribution Channels|
Key Market Trends
Increasing Disposable Income is Driving the Market
A major driver that is predicted to drive the demand for home organizers and storage products in the United States is the increasing disposable income. It has been observed that people's disposable income in the United States has been increasing year over year. In 2019, Americans had a total disposable personal income of USD 15.74 trillion. In the same year, per capita, personal disposable income was USD 47,763. With the increasing personal disposable income, consumers tend to buy more home goods. During periods of increased affluence, consumers prefer to replace products more frequently and switch to more expensive, high-quality products. As the consumer becomes more aware of innovations in the market, the demand for high-end products may rise.
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Growing Number of Households and Apartments is Driving the Market
The demand for home organizers and storage is likely to rise over the forecast period, owing to an increase in existing house sales and housing starts in the United States. Additionally, in the short term, rising home renovation activities in the country may stimulate market demand.The home improvement industry in the United States is stronger than it has been in over ten years, and it includes the sale of building materials, appliances, décor, and other home enhancements, along with the services provided by contractors, tradespeople, and other workers who assist in the construction, installation, modification, and upgrade of homes. The business of homeownership represents a significant portion of the United States economy. With a nationwide housing shortage and record-high home prices, more homeowners in the United States prefer to stay in their homes rather than relocate or upgrade to new ones.
The market, composed of hundreds of primarily small, privately held manufacturers and marketers, is highly fragmented with numerous companies having small market shares. It also explains their strategic moves in the past few years, investments in product innovation, and changes in leadership to stay ahead in the competition.
- January 2022 - Target introduced Brightroom, Target’s first dedicated storage and home organization owned brand. It is all about helping guests easily organize their homes with hundreds of well-designed and functional pieces. It incorporates all kinds of materials to make life a little easier and spaces even more attractive like breathable mesh for vegetable pantry storage, wood for warmth and durability, natural wovens to add texture and soften spaces, plastics that can be scrubbed clean and fabrics that can be folded and tucked away when not in use.
- September 2020 - Ingka Centres, part of the Ingka Group (which also includes IKEA Retail and Ingka Investments), has acquired the 6X6 building in downtown San Francisco. The new retail destination that’s anchored by IKEA and complemented with mixed-use offerings that are uniquely suited for San Franciscans and their lifestyle.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
4.5 Porter's Five Force Analysis
4.6 Insights into Technological Advancements in the Industry
4.7 Impact of Covid 19 on the market
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Storage Baskets
5.1.2 Storage Boxes
5.1.3 Storage Bags
5.1.4 Hanging Storage
5.1.5 Multipurpose Organizers
5.1.6 Travel Luggage Organizers
5.2 By Application
5.2.1 Bedroom Closets
5.2.2 Laundry Rooms
5.2.3 Home Offices
5.2.4 Pantries and Kitchen
5.3 By Distribution Channel
5.3.1 Hypermarkets and Supermarkets
5.3.2 Specialty Stores
5.3.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.2 Bed Bath & Beyond
6.2.7 The Container Store
6.2.8 The Home Depot
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
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Frequently Asked Questions
What is the study period of this market?
The United States Home Organizers and Storage Market market is studied from 2018 - 2027.
What is the growth rate of United States Home Organizers and Storage Market?
The United States Home Organizers and Storage Market is growing at a CAGR of 4% over the next 5 years.
Who are the key players in United States Home Organizers and Storage Market?
Ikea, Target, Lowe's, Wayfair, Houzz are the major companies operating in United States Home Organizers and Storage Market.