New York, NY, April 10, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Modular Kitchen Market By Raw Material (Fiber, Plastic, Metal, Wood, And Others), By Application (Commercial And Residential), By Layout (L-Shaped, Straight Layout, Parallel Layout, U-Shaped Layout, G-Shaped Layout, And Island Kitchen), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Modular Kitchen Market size & share in terms of revenue was valued at USD 21.1 billion in 2022 and it is expected to surpass around USD 33.1 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.12% during the forecast period 2023 to 2030.”
What is Modular Kitchen? How big is the Modular Kitchen Industry?
The modular kitchen market refers to the market for kitchens that are pre-manufactured in standard modules or pieces that may be joined together to create a personalized kitchen plan. These modular kitchens often incorporate cupboards, drawers, shelves, and other storage solutions, as well as equipment such as stovetops, ovens, and refrigerators.
The modular kitchen market has been developing in recent years due to factors such as increased urbanization, changing lifestyles, and the trend towards trendy and convenient living spaces. The market is highly competitive, with a significant number of local and worldwide firms offering a range of products and services.
Some important trends in the modular kitchen market are the use of eco-friendly materials, the integration of smart home technology, and the growing popularity of open-plan kitchen designs. As the market continues to expand, it is projected that modular kitchens will become increasingly complex and customized, allowing homeowners even greater flexibility and convenience in their kitchen design and layout.
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Modular Kitchen Market Coverage & Overview:
The global modular kitchen market size was worth around USD 21.1 Billion in 2022 and is predicted to grow to around USD 33.1 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.12% between 2023 and 2030.
The modular kitchen industry revolves around the production and sale of kitchen products and designs that undergo a pre-manufacturing process in standard units or modules. These products are different from traditional kitchens since the latter is produced keeping the specific dimension and requirements of the consumers while the former is pre-manufactured and can be later utilized in a given space area. Modular kitchen items can also be customized depending on consumer needs but they are generally pre-produced.
The main reasons for the growing demand in the industry are the ease of installation, flexibility, and cost-effectiveness offered by these products. Modular kitchens consist of a standard set of units like shelves, drawers, cabinets, and countertops that can be combined using different configurations to create an aesthetically pleasing and completely functional kitchen. The market is highly competitive, with many established and new players vying for market share.
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Global Modular Kitchen Market: Growth Factors
The global modular kitchen market is projected to grow due to the rapid rate of urbanization which refers to the process of the population moving from rural areas to urban cities for better job prospects and a standard of living. Since urban areas are now facing a dearth in terms of space available with many regions’ high influx of new residents, the demand for space-efficient and functional living spaces has increased multifold in the last few years. In addition to this, the world is currently registering an important transition in terms of lifestyle choices.
This has led to higher demand for efficient yet compact kitchen spaces and modular cookery is the most suitable option available in the segment. This is expected to lead the global market growth during the forecast period. Moreover, rising investments in the adoption of higher-grade technology and the development of modular kitchen functions could create better momentum. The modular kitchen industry players are getting inclined to use smart features and automation to make the kitchen space more efficient. Additionally, factors like growing awareness about home design, rising disposable income, and rising focus on sustainability could work in the favor of the industry.
However, the global modular kitchen market size may register limitations owing to the high initial cost of investment in terms of setting up modular kitchens. These units are created in specialized centers using complex machines and with the aid of exceptionally skilled labor leading to the high cost of the products. Furthermore, most of the industry players cater to the premium segment leading to greater restrictions. In addition to this, the constantly fluctuating prices of raw materials due to their high price sensitivity along with limitations in terms of customization could act as growth barriers.
The growing sales of smart kitchen appliances may translate to higher revenue while the rising competition challenges market growth.
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|Market Size in 2022
|USD 21.1 billion
|Projected Market Size in 2030
|USD 33.1 billion
|CAGR Growth Rate
|Key Market Players
|Godrej & Boyce, Hafele, Häcker Küchen, Sleek Kitchens, Scavolini, Poggenpohl, Veneta Cucine, Snaidero, IFB Industries, Blum, Hettich, Siematic, Nobilia, Boffi, Pedini, Bulthaup, Poliform, Valcucine, Arclinea, and Leicht.
|By Raw Material, By Application, By Layout, And By Region
|Major Regions Covered
|North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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Modular Kitchen Market: Segmentation Analysis
The global modular kitchen market is segmented into raw materials, product, application, layout, and region.
Based on raw material, the global market segments are fiber, plastic, metal, wood, and others. In 2022, the highest growth was observed in the wood segment since it is one of the largest consumed raw materials for kitchen units for many years and continues to showcase its dominance. The popularity of wood is highly dependent on its physical appearance and natural beauty along with other attributes to higher durability along with versatility. Wood can be easily customized into different shapes and sizes. It is available in various ranges of finishes and colors and hence can be easily matched with other items in the kitchen. The average cost of a wood-based modular kitchen may range between USD 5000 to USD 20000.
Based on application, the modular kitchen industry divisions are commercial and residential.
Based on layout, the global market divisions are L-shapes, straight layout, parallel layout, U-shaped layout, G-shaped layout, and island layout. In 2022, the highest growth was in the L-shapes segment. It is one of the most widely used layout options across small to medium-sized homes since it is highly effective in terms of space optimization and allows higher comfort in terms of living space. The parallel layout is the second-highest growing segment and is also known as the galley kitchen. This is especially applicable in spaces made of parallel walls. G-shaped and U-shaped layouts provide more counter and storage space and allow for efficient movement between different areas of the kitchen. As per World Bank, in 2021, the urban population constituted 56% of the total population.
The global Modular Kitchen market is segmented as follows:
By Raw Material
- Straight Layout
- Parallel Layout
- U-Shaped Layout
- G-Shaped Layout
- Island Kitchen
Browse the full “Modular Kitchen Market By Raw Material (Fiber, Plastic, Metal, Wood, and Others), By Application (Commercial and Residential), By Layout (L-Shaped, Straight Layout, Parallel Layout, U-Shaped Layout, G-Shaped Layout, and Island Kitchen), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030”– Report at https://www.zionmarketresearch.com/report/modular-kitchen-market
Some of the main competitors dominating the global Modular Kitchen market include –
- Godrej & Boyce
- Häcker Küchen
- Sleek Kitchens
- Veneta Cucine
- IFB Industries
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Modular Kitchen market is likely to expand at a CAGR of around 5.12% during the forecast period (2023-2030).
- In terms of revenue, the Modular Kitchen market size was valued at around US$ 21.1 billion in 2022 and is projected to reach US$ 33.1 billion by 2030.
- Based on application segmentation, residential was predicted to show maximum market share in the year 2022.
- Based on raw material segmentation, wood was the leading material in 2022.
- On the basis of region, North America was the leading revenue generator in 2022.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Modular Kitchen industry?
- What are the main driving factors propelling the Modular Kitchen Market forward?
- What are the leading companies in the Modular Kitchen Industry?
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- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Raw Material, By Application, By Layout, And By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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The global modular kitchen market is expected to witness the highest growth in North America mainly due to higher product awareness along with the presence of an exceptionally high number of product-selling companies. Furthermore, North America is relatively more mature as compared to other regions due to the existing large database of consumers. In Europe, the growing demand for space optimization and increasing investments in home renovation could lead to higher regional growth further strengthened due to the growing disposable income of the general population. As many people in the country choose to live alone, the demand for modular kitchens may witness unprecedented growth. In Asia-Pacific, the rapid rate of urbanization is a major growth propeller.
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
- In February 2022, REHAU, a leading polymer-based solution provider announced its entry into the maiden kitchen segment. REHAU Kitchen is expected to further the brand value of REHAU which has already established its presence as an excellent quality component producer and supplier
- In April 2022, Nobia introduced Nordic Nature which has its inspiration from Nordic forests in the regions of Finland, Norway, and Sweden
- In May 2021, the iF Design Award was presented to Hettich Holding GmbH & Co. oHG in the kitchen category
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FREQUENTLY ASKED QUESTIONS
- What is the modular kitchen market?
- Which key factors will influence modular kitchen market growth over 2023-2030?
- What will be the value of the modular kitchen market during 2023-2030?
- What will be the CAGR value of the modular kitchen market during 2023-2030?
- Which region will contribute notably towards the modular kitchen market value?
- Which are the major players leveraging the modular kitchen market growth?
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