Despite inflation and mortgage rate increases, the overall annual forecast for the kitchen and bath market still represents a double-digit increase over 2021, according to the National Kitchen and Bath Association (NKBA) 2022 Kitchen & Bath Market Outlook.
“This new Market Outlook report provides revised market size estimates and 2022 forecasts in the Kitchen and Bath Industry, as well as gauges the economic and housing market shifts that continue to impact our market,” said Bill Darcy, CEO of the National Kitchen & Bath Association (NKBA). “Despite some economic headwinds, kitchen and bath remodeling demand remains strong. Residential kitchen and bath spending is anticipated to grow by 16% to $189 billion in 2022.”