Global Modular Kitchen Market to Reach US$ 53.5 Billion by 2032, Propelled by the Increasing Concerns Regarding Sanitization

The latest report by IMARC, titled “Modular Kitchen Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, finds that the global modular kitchen market size reached US$ 37.5 Billion in 2023. A modular kitchen refers to a contemporary concept of modern furniture layout consisting of cabinets, drawers, and shelves in an organized manner to save space. It gives the user convenience and comfort for the easy usage of the hob, oven and utensils by providing easy accessibility to all the utensils, electronics, groceries, spices and other necessary commodities. It also involves the placement of shelves, countertops, sink, and cooking station in a way that aligns with the way of cooking of an individual. In recent years, modular kitchens are gaining momentum on account of the increasing number of nuclear families and the rising number of residential units becoming more compact in size.

Global Modular Kitchen Market Trends:

One of the primary factors driving the market is the increasing concerns regarding sanitation and space utilization for storing various appliances. Modular kitchens are designed so they are easy to clean and maintain and provide ample space for efficient storage of appliances. Additionally, the growing trend of restructuring and remodeling the kitchen to a more appealing form is creating a positive market outlook. Other than this, the rising inclination of the masses toward modern designs and comfort is propelling the market growth. Besides this, key players are customizing modular kitchens as per the consumer’s requirements. For instance, they experiment with textures, designs, and various color combinations or to go for a design that contrasts with the theme of their house. Similarly, several manufacturers are offering products with special spice racks and trolleys for grains. They are also introducing eco-friendly variants, which employ green materials such as recycled plastic granules and acrylic stone. In line with this, individuals are also fascinated by new concepts, such as magic corners and kitchen islands, to add a luxurious touch to the cooking space. Furthermore, the rising partnerships between real estate project developers and modular kitchen producers are creating lucrative growth opportunities for the key players operating in the industry. Other growth-inducing factors include improving standards of living, inflating income levels and increasing number of residential construction projects. Looking forward, IMARC Group expects the market value to reach US$ 53.5 Billion by 2032, expanding at a CAGR of 3.95% during the forecast period (2024-2032).

Market Summary:

• Based on the product type, the market has been divided into floor cabinet, wall cabinet, and tall storage. Presently, floor cabinet is the most popular product type.
• On the basis of the design, the market has been segregated into L-shape, U-shape, parallel, straight, island, and peninsula. L-shape currently dominates the market.
• Based on the material used, the market has been segmented into lacquer wood, high pressure laminates, wood veneers, melamine, metal, and others (glass, acrylic, etc.). At present, lacquer wood holds the largest market share.
• On the basis of the distribution channel, the market has been bifurcated into online and offline. Among these, offline represents the biggest segment.
• Region-wise, Europe holds the leading position in the market. Other major regions are North America, Asia Pacific, Latin America, and Middle East and Africa.
• The competitive landscape of the market has also been analyzed, with some of the key players being Hafele, Lineadecor, Nobia, Pedini, and Snaidero.

Report Scope:

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