Release Date:
The Kitchen Cabinet Manufacturers Association released results of its market research project, which found the total kitchen and bath cabinet market to be worth $6.997 billion in the U.S., wood-based residential cabinet market for the year ending 2010.
The study combined information from existing KCMA member companies and other third-party sources, such as trade magazine reports, government data and industry association data. A KCMA Task Force comprised of industry marketing experts reviewed 2009 data from each of the independent sources to produce a market size estimate for 2009. The 2009 data was selected because it represented a complete data set from each of the sources noted above for that fiscal year.
“Lacking a perfect, single source, we believe that this methodology and definition of the market size provides the most timely and best estimate for the U.S., wood-based, residential cabinet market,” said KCMA president, Greg Stoner.
The Task Force then used the KCMA monthly "Trend of Business" report of 82 companies to calculate a market change percentage from 2009 to 2010. KCMA’s TOB report includes data from 82 reporting companies of varying size and geographic distribution. It serves as a strong proxy for the broader residential wood kitchen and bath market. The TOB measures monthly and year-to-date change of the current year versus prior year. Nearly half of the participating companies reported annual sales of $10 million or less, with 11 percent reporting sales exceeding $100 million.
“While we realize that there is never a definitive or perfect market sizing study, in our estimation, this approach represents a sound and reasonable method for our industry as defined. We chose to narrow the focus to 'residential, wood-based' cabinets as a more focused view of the market we represent. At the same time we recognize that there is a non-residential market as well as a cabinet market that is produced via other materials (most notably steel),” Stoner said.
For more on the results, please visit www.kcma.org.