Market Overview
The global modular kitchen market was valued at USD $31 billion in 2018. It is projected to grow at a rate of almost 5% within 2019-2024 to reach a total valuation of USD $42 billion. Increasing space paucity in modern infrastructural units has given way to the popularity of modular kitchens the world over. The growth in this market space has also been aided by the rise in disposable income among the oridnary populace and with it, the conscious improvement witnessed in standards of living.
Modular kitchens indicate a modern furniture set-up which is space economic and compact. It makes use of modular cabinets to space save in the kitchen. You can store your utensils, electronics, appliances and groceries in these cabinets. They are also quite convenient as they are easy to assemble and dismantle, rendering them a kind of portability. Also, modular kitchens have been witnessing a growth in demand globally, as manufacturers in this market space offer personalised and customized furniture units as per the customer’s taste.
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Our market report studies the global modular kitchen market on the basis of certain segments. These segments are – product type, application and region. We devote a section to studying these segments and another to examine the regional penetration of the global modular kitchen market in-depth. Lastly, we also discuss the latest industry related news in our global modular kitchen market growth report to conclude it. If you are interested in learning more about this market space, here’s your opportunity to do so.
The key manufacturers covered in this report:
Sleek International
Timbor Home
Godrej and Boyce Mfg
Zuari Furniture
Spacewood
Oren Kitchen Appliances
Design Indian Kitchen
IFB Industries Ltd
Europlak SV Cucine India
Hindware Home Retail
Kohinoor Furnture House
Akruti
Kitchen Grace
ModSpace
V3 ENGINEERS
Lispo Kitchens
Cute Kitchen
Segmentation
We divide the global modular kitchen market into various segments depending on product type, application, distribution channel and region, in order to understand the market conditions better. With respect to type, the market can be divided into natural stone modular kitchen, artificial stone modular kitchen, fire resistance board modular kitchen, stainless steel modular kitchen and others. With respect to application, the global modular kitchen market can be divided into upper middle classes and socio-economic classes. As per distribution channel, the market exists online and offline. The regional segment studies the geographical areas of North and South America, Europe, Asia Pacific and the Middle East.
Regional Overview
The global modular kitchen market report studies the regional penetration of the market in US and Canada (North America), Brazil and Mexico (South America), Italy, France, Germany, UK (Europe), Africa and the Gulf countries (Middle East) and India, Japan, Korea and China (Asia Pacific). In terms of market share, Europe dominates the global modular kitchen market, closely followed by America. The lack of space in apartment buildings in the European regions and the emphasis on convenience and portability of the kitchen units help the modular kitchen market grow here. Also, the European upper middle class is well-settled financially and can afford to seek customised eco-friendly kitchen furniture units for them, made possible by modular kitchen manufacturers.
Competitive Analysis
The report includes a broad study of the competitive scenario of the x market and the current trends that are slated to impact the market. It recognizes vital market players of the market, including both key and emerging players. The report includes the corporations in the market share study to offer a broader comprehensive overview of the key market players. Furthermore, the report also contains significant strategic improvements of the market, such as product launches, acquisitions & mergers, agreements, partnerships, research and development collaborations, and joint ventures, along with essential growth strategies of the major market players on a regional and global basis.
Latest industry news
Modular kitchen manufacturers have woken up to the demand of eco-friendly material usage in kitchen construction. They are constantly engaged in product innovation to incorporate the same, by utilizing green materials increasingly in their modular kitchen unit construction like acrylic stone, recycled plastic granules and so on. As already discussed, they are also providing more and more customisable product offerings for the customers.
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