Revised 2021 outlook shows sales up more than 20%.
In its July update to the Kitchen & Bath Market Outlook, the National Kitchen & Bath Association (NKBA) revised its 2021 industry sales projection upward to $170.9 billion, up by a substantial 21.4% from 2020’s $140.8 billion in kitchen and bath spending and nearly 8% higher than the initial estimate for the year.
New construction K&B spending is now expected to exceed 2020 by 28.5%, as builders attempt to keep pace with substantial demand. Meanwhile, K&B remodeling is expected to climb by 12.5%. The update provides a comprehensive review of current industry conditions as well as macroeconomic factors — such as consumers opening their homes to workers post-pandemic and stimulus checks — likely to impact business.