The “Modular Kitchen Market by Geography (Europe, North America, APAC, South America, and MEA) and Product (floor cabinets, wall cabinets, and tall storage) – Forecast and Analysis 2021-2025” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
One of the key factors driving growth in the modular kitchen market is the high demand for convenient and customized kitchens with a wide design variety. A traditional kitchen provides limited design options, unlike a modular kitchen that offers a wide variety of designs to choose from.
Changes in lifestyles and consumer preferences have induced a growing demand for organized facilities and kitchens that would enhance ease in cooking. A modular kitchen can be designed and customized to meet the user’s requirements.
It provides convenience and higher accessibility to kitchen tools. Tall storage can store all sizes of food containers, even in a small area. Corner spaces in a modular kitchen also enable maximum utilization of space.
Several modular kitchen companies, such as Sleek, provide easy replacement and contracts for regular services to maintain high kitchen quality.
Market Challenges
The market fragmentation and challenges from local carpenters will be a major challenge for the modular kitchen market during the forecast period. The modular kitchen market is fragmented, not only in terms of the number of manufacturers but also in terms of the product range. Unorganized players in many countries command a significant portion of the category.
The market is expanding, and the demand is no longer restricted to the upper-middle-class alone. However, one of the major challenges faced by the modular kitchen market is the substantial number of local players budding in the market. The local players provide products and services at a lower price than the established players.
Additionally, many consumers who are price conscious opt for semi-modular kitchens. These modular kitchens are made by local carpenters. This kitchen is a combination of traditional kitchens and has some features of modular kitchens.
The local carpenters are preferred since this traditional medium offers a more customized solution to the customers. A myth that also prevails within customers is that factory-made furniture is not as strong and durable as hand-made furniture is by a carpenter.
Regional Analysis & Forecasts
The market is segmented by geography into following regions: Europe, North America, APAC, South America, and MEA. 31% of the market’s growth will originate from Europe during the forecast period. Germany and UK are the key markets for modular kitchens in Europe. Market growth in this region will be slower than the growth of the market in other regions.
The increased adoption of smart homes will facilitate the modular kitchen market growth in Europe over the forecast period.
Segmentation Analysis & Forecasts
The market is segmented by product (floor cabinets, wall cabinets, and tall storage). The modular kitchen market share growth by the floor cabinets segment will be significant during the forecast period.
Floor cabinets are anticipated to foresee steady growth over the forecast period owing to factors such as the increasing number of modular kitchen providers, rising number of color and design options, and increasing need for floor cabinets in modular kitchens. Floor cabinets are also known as under-counter cabinets or base modular kitchen cabinets.
These cabinets are mostly used for storing heavy-duty cookware, hobs, appliances, sink, and other heavy objects. With the increasing use of heavy appliances, utensils, and cutlery, floor cabinets are gaining popularity as these cabinets are mostly used for storing heavy-duty cookware, hobs, appliances, sink, and other heavy objects.
Executive SummaryMarket LandscapeMarket SizingFive Forces AnalysisMarket Segmentation Customer landscapeGeographic LandscapeVendor LandscapeVendor AnalysisAppendix
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