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According to the National Kitchen & Bath Association’s (NKBA) Kitchen & Bath Market Outlook Report for 2022, consumer spending in the sector increased to over $184 billion from $167 million in 2021 (14% increase).
While the industry is not immune to shifts in the housing market and general economic conditions, several factors point towards continued growth in the coming years, including:
- Increasing demand
- A growing housing market
- Aging housing infrastructure
- Demographic shifts
- Changes in consumers style preferences
- Renovating for the long run
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