The global modular kitchen market size is projected to touch USD 28.54 billion by 2025, according to a new report by Million Insights. The market is estimated to grow at a CAGR of 5.8% from 2019 to 2025. Growing residential construction coupled with increasing consumers’ purchasing power in emerging countries such as India, China and Brazil is attributing to the market growth. Further, increasing trends of nuclear families in emerging countries is also supplementing the market growth.
The L-shaped segment occupied the largest market share with over 55% in 2018. Factors such as convenience and flexibility offered by this design shape are proliferating the segment growth. Also, this shape is considered to be most suitable for compact space.
Tall storage is estimated to grow at the highest CAGR of 6.3% over the forecast years. It has an ability to store commodities in bulk and it offers an aesthetically appealing look. This factor is expected to augment the market growth for this segment.
Wood products held the largest market share in 2018 with over 60% of the market share, while fiber/plastic segment is likely to grow at the fastest CAGR over the forecast duration. Plastic features such as water-proof and termite-proof are supplementing the segment growth. Further, plastic is robust and available in different colors at comparatively low cost.
Europe was the largest market with over 30% of the market share in 2018. Presence of key manufacturers and the growing trend of the nuclear family in countries such as U.K, France and Germany are bolstering the segment growth. Asia Pacific, on the other hand, is estimated to grow fastest over the forecast period. Rising demand from emerging countries such as China, India and Indonesia is driving the regional growth.
The key player in the modular kitchen market includes Nobia AB, LINEADECOR, Häfele GmbH & Co KG, Bulthaup, Hettich Group, Pedini, Häcker Küchen GmbH & Co. KG and Snaidero Cucine among others. Manufacturers are focusing on strategic initiatives such as merger and acquisition, product innovation and business expansion to garner a larger market share.
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Further key findings from the report suggest:
• In 2018, floor cabinet occupied the largest market share of more than 60% in 2018.
• Among different raw materials, the wood product is estimated to hold over 40% of the market share by 2025.
• Online distribution channel is likely to exhibit a CAGR of 6.2% over the forecast period.
• Key player in the market include Nobia AB, LINEADECOR, Häfele GmbH & Co KG, Bulthaup, Hettich Group, Pedini, Häcker Küchen GmbH & Co. KG and Snaidero Cucine among others.
Million Insights has segmented the global modular kitchen market on the basis of design, product, raw material, distribution channel, and region:
Modular Kitchen Design Outlook (Revenue, USD Million, 2015 - 2025)
Modular Kitchen Product Outlook (Revenue, USD Million, 2015 - 2025)
• Floor Cabinet
• Wall Cabinet
• Tall Storage
Modular Kitchen Raw Material Outlook (Revenue, USD Million, 2015 - 2025)
Modular Kitchen Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Modular Kitchen Region Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa