Overview and Scope
A modular kitchen is also referred to as modern kitchen furniture that consists of a furniture layout with modules of cabinets, which hold kitchen commodities. It facilitates the effective usage of kitchen spaces which are fitted together with symmetry to create whole functional furniture with proper segmentation.
Sizing and Forecast
The modular kitchen market size has grown steadily in recent years. It will grow from <b>$22.82 billion in 2023 to $23.63 billion in 2024 at a compound annual growth rate (CAGR) of 3.6%. </b> The growth in the historic period can be attributed to changing lifestyles, urbanization, customization, ease of installation, environmental awareness.
The modular kitchen market size is expected to see steady growth in the next few years. It will grow to <b>$28.31 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. </b> The growth in the forecast period can be attributed to health and hygiene, multifunctionality, modular furniture, kitchen as a social space, consumer convenience. Major trends in the forecast period include smart kitchen appliances, digital visualization, remote monitoring, customization software, innovative materials.
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Segmentation & Regional Insights
The modular kitchen market covered in this report is segmented –
1) By Design: L-Shape, U-Shape, Parallel, Straight, Island
2) By Product: Floor Cabinet, Wall Cabinet, Tall Storage
3) By Raw Material: Lacquered Wood, Wood Sheets and Melamine, Metals, High-Pressure Laminates, Other Raw Materials (Glass, Acrylic)
4) By Distribution Channel: Offline (Contractors, Builders), Online
<b>Europe</b> was the largest region in the modular kitchen market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the modular kitchen market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rapid growth in the residential construction industry is significantly contributing to the growth of the modular kitchen market. The growing number of real estate projects and the increase in demand for space-saving homes are helping the modular kitchen market grow. For instance, the US construction industry is estimated to grow by 8.7% between 2020-2025. Also, according to the US Census Bureau and the US Department of Housing and Urban Development, in December 2021, there were 1,873,000 building permits granted while the number of housing completions stood at 1,295,000. Therefore, the rapid growth in the residential construction industry is driving the growth of the modular kitchen market.
Key Industry Players
Major companies operating in the modular kitchen market include <b> Nobilia GB Ltd., Hafele GmbH & Co KG, Hettich Group, IFB Industries Ltd., Häcker Küchen GmbH & Co. KG, Lineadecor USA LLC, Snaidero Rino S.p.a, Bulthaup UK Ltd., Boston Cabinets Inc., Pedini SPA, SieMatic USA, Spacewood Pvt. Ltd., V3 Engineers Pvt. Ltd., Timbor Home Ltd., Godrej and Boyce Mfg, Lispo Total Kitchen Solution, Meine Kuche India Pvt. Ltd., OPPEIN Home Group Inc., IKEA Systems B.V., KraftMaid Services India Private Limited, MasterBrand Cabinets Inc., Cliqstudios Cabinets Technologies Private Limited, Arclinea SPA, Merillat Industries LLC, Wood-Mode LLC., Regalo Kitchens Private Limited, Sleek World International Ltd., Häfele India Pvt. Ltd., Urban Ladder, Livspace Pte Ltd., Nobia AB, Scavolini SPA, Poggenpohl Manufacturing GmbH, Boffi SPA </b>
The modular kitchen market report table of contents includes:
1. Executive Summary
2.Modular Kitchen Market Characteristics
3.Modular Kitchen Market Trends And Strategies
4.Modular Kitchen Market analysis
5. Modular Kitchen Market Size And Growth
6.Modular Kitchen Segmentation
7.Modular Kitchen Regional And Country Analysis
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27.Modular Kitchen Competitive Landscape And Company Profiles
28.Modular Kitchen Key Mergers And Acquisitions
29.Modular Kitchen Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Nobilia GB Ltd.
- Hafele GmbH & Co KG
- Hettich Group
- IFB Industries Ltd.
- Häcker Küchen GmbH & Co. KG
- Lineadecor USA LLC
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