Increasing urbanization and rising disposable incomes, growing trend of open kitchens are factors driving the global kitchen cabinets market in the forecast period 2024-2028.
As per the TechSci Research report titled “Global Kitchen Cabinets Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028,” the Global Kitchen Cabinets Market reached USD 78.5 billion in 2022 and is poised to exhibit a CAGR of 5.2% during the forecast period from 2024 to 2028. The market’s growth is anticipated to persist, driven by the rising demand for luxury kitchen cabinets, the prevalence of open kitchens, and the growing emphasis on home improvement and remodeling.
The kitchen cabinets market holds a significant position within the broader home improvement and construction sector, encompassing the manufacturing, distribution, and installation of cabinets and cupboards in residential kitchens. It has experienced steady growth over the years, influenced by factors like housing demand, consumer preferences, and renovation trends, with variations in market size and growth rates based on region and economic conditions.
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Several factors contribute to the expansion of the kitchen cabinets market, including changes in consumer preferences, economic conditions, and technological advancements. The industry has witnessed substantial growth due to increased demand for kitchen renovations, new constructions, and the integration of innovative features. The health of the housing market, including new home construction and renovations, directly affects the demand for kitchen cabinets. A robust housing market results in higher demand for cabinets for both new homes and remodeling projects.
Consumer preferences for kitchen aesthetics, design styles, and functionality drive market trends, with a focus on open-concept kitchens, smart features, and sustainable materials influencing cabinet choices. Economic stability, income levels, and consumer confidence play pivotal roles, and during economic upturns, consumers are more inclined to invest in kitchen renovations, boosting cabinet sales. Household formations, such as millennials entering homeownership and the aging baby boomer population, impact demand, with different age groups having distinct preferences for kitchen cabinet designs and features.
The kitchen cabinets market is highly competitive, featuring large corporations, regional manufacturers, and custom cabinet makers. Competition fosters innovation and diversity in product offerings, providing consumers with a wide range of choices in materials, styles, finishes, and price ranges.
The Kitchen Cabinet Market is expected to continue growing, driven by increased demand from major application industries. Macroeconomic factors like global economic expansion, rapid urbanization, a growing middle-class population, and increased consumer spending capacity will fuel the growth of key industries. The Global Kitchen Cabinets Market is segmented based on type, material, end-user, regional distribution, and company.
In terms of type, the custom and semi-custom category dominates the kitchen cabinets market in the United States, driven by the significance of the kitchen in homes and the common practice of kitchen renovations. In the Asia-Pacific region, changing lifestyles, urbanization, and the adoption of Western lifestyles influence consumer buying trends, leading to a significant market share.
Major companies operating in Global Kitchen Cabinets Market are:
- American Outdoor Cabinets
- Bull Outdoor Products, Inc.
- Cabinetworks Group
- Danver Stainless Outdoor Kitchens
- Electrolux AB
- Grillnetics, LLC
- Middleby Corporation
- NatureKast Products Inc.
- NewAge Products Inc.
- Outdoor Kitchen Cabinets
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Mr. Karan Chechi, Research Director at TechSci Research, notes that the kitchen cabinets market has experienced steady growth, driven by robust housing markets, changing consumer preferences, and innovative product offerings. Increasing investments in kitchen renovations and new construction by homeowners contribute to the rising demand for kitchen cabinets. Emerging trends like smart cabinets, sustainable materials, and customizable solutions further propel the market’s expansion. Global competitiveness among manufacturers and diverse distribution channels plays crucial roles in the growth of this essential segment within the home improvement industry.
The report, titled “Kitchen Cabinets Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Ready-to-assemble, Stock Kitchen Cabinets, Semi-custom Kitchen Cabinets, Custom Kitchen Cabinets), By Material (Wood, Metal, Others), By End User (Residential, Commercial), By Region, By Competition, 2018-2028,” evaluates the future growth potential of the Global Kitchen Cabinets Market, providing statistics and information on market size, structure, and future growth. The report aims to offer cutting-edge market intelligence and assist decision-makers in making sound investment decisions, identifying and analyzing emerging trends, drivers, challenges, and opportunities in the Global Kitchen Cabinets Market.
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