Modular Kitchen Market Overview:
The latest report by IMARC Group, titled “Modular Kitchen Market Demand: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that The global modular kitchen market size reached a value of US$ 34.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 46.2 Billion by 2027, exhibiting at a CAGR of 4.32% during 2022-2027.
Modular kitchen refers to a modern furniture layout which facilitates effective usage of space in a kitchen through the usage of modular cabinets. They use the available space to store and provide easy accessibility to all the utensils, electronics, groceries, spices and other necessary commodities. Modular kitchens also offer flexibility to the consumers as they can be easily assembled and dismantled. In recent times, due to decreasing household sizes, there has been a huge demand for organized facilities and modular kitchens which focus majorly on space utilization, convenience and utility value.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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The competitive landscape of the market has also been analyzed. Some of the leading players operating in the market are:
Global Modular Kitchen Market Trends:
With the increasing population and growing urban property rates, residential units have become more compact in size. Owing to this, the users are opting for modular kitchens so as to enhance their convenience and manage the space optimally. Apart from this, due to the inflating income levels and improving standards of living, there has been a significant rise in construction and renovation activities. Moreover, the manufacturers are focusing on customized kitchens which are designed and customized according to the individual needs and requirements of the consumers. For instance, in India, the manufacturers are offering products with special spice racks and trolleys for grains. Similarly, in Japan the manufacturers have come up with innovative space saving kitchens for small areas which conceal a unit composed of sink, counters and stoves. In addition, these vendors are introducing eco-friendly variants which employ green materials such as recycled plastic granules and acrylic stone.
Key Market Segmentation:
Breakup by Product Type:
- Floor Cabinet
- Wall Cabinet
- Tall Storage
Breakup by Design:
Breakup by Material Used:
- Lacquer Wood
- High Pressure Laminates
- Wood Veneers
- Others (Glass, Acrylic, etc.)
Breakup by Distribution Channel:
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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Also Read: https://urbanlymodern.com/