The Home Improvement Research Institute has published an update to its U.S. Home Improvement Products Market Forecast, showing a mixed outlook for the U.S. home improvement products market through 2028. The total market is expected to shrink by 0.1% this year, following a 1.6% decline in 2023, bringing total sales to $545 billion for 2024. However, a recovery is on the horizon, with market growth projected to rebound by 3.9% in 2025.
Key findings include:
- Consumer Market: Sales are anticipated to dip by 0.2% in 2024 but rise by 4.2% in 2025.
- Professional Market: Sales are forecasted to grow by a modest 0.1% in 2024, followed by a 3.2% jump in 2025.
- Regional Trends: Growth will vary across U.S. regions, with stronger performance expected in the South and West.
Despite the current slowdown, HIRI projects average annual growth rates of 4.2% for the consumer market and 4.0% for the professional market from 2026 to 2028.
The U.S. Home Improvement Products Market Forecast from the Home Improvement Research Institute also identifies projections for the top 10 fastest-growing merchandise lines for both consumers and professionals based on projected CAGR in 2025 – 2028.
Top 10 Fastest-Growing Merchandise Lines for Consumers
- Soft-surface floor coverings
- Hard-surface floor coverings
- Lawn and garden equipment and supplies
- Other building materials
- Dimensional lumber and boards
- Roofing materials and supplies
- Kitchen and bath cabinets
- Doors and moldings
- Paint and preservatives
- Nursery stock and soil treatments
Top 10 Fastest-Growing Merchandise Lines for Professionals
- Major household appliances
- Hardware
- Tools
- Gypsum and specialty boards
- Dimensional lumber and boards
- Plywood and related products
- Insulation and weatherproofing
- Plumbing supplies
- Electrical supplies
- Other building materials
