The global modular kitchen market size is expected to grow from $21.60 billion in 2021 to $22.77 billion in 2022 at a compound annual growth rate (CAGR) of 5.43%. The global modular kitchens market size is expected to grow to $28.62 billion in 2026 at a CAGR of 5.88%.
What is the Global Modular Kitchen Market?
The modular kitchen market consists of sales of modular kitchen products by entities (organizations, sole traders, and partnerships) that manufacture modular kitchen furniture. 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 being fitted together with symmetry to create whole functional furniture with proper segmentation.
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What drives the Global Modular Kitchen Market?
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 modular kitchen market.
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Global Modular Kitchen Market Segments
The global modular kitchen market is segmented:
By Design: L-Shape, U-Shape, Parallel, Straight, Island
By Product: Floor Cabinet, Wall Cabinet, Tall Storage
By Raw Material: Lacquered Wood, Wood Sheets and Melamine, Metals, High-Pressure Laminates, Others (Glass, Acrylic)
By Distribution Channel: Offline (Contractors, Builders), Online
By Geography: The regions covered in the modular kitchen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Modular Kitchen Global Market Report 2022 provides market size and growth forecasts for the global modular kitchen market, global modular kitchen market share, modular kitchen market segments and geographies, modular kitchen market competitive landscape including leading competitors’ revenues, profiles and market shares. The modular kitchen market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Modular Kitchen Industry Players include Nobilia GB Ltd, Hafele GmbH & Co KG, Hettich Group, IFB Industries, Häcker Küchen GmbH & Co. KG, LINEADECOR, Snaidero Cucine, Bulthaup, Boston Cabinets Inc., Pedini, SieMatic, Spacewood, V3 ENGINEERS, Timbor Home, Godrej and Boyce Mfg, Lispo Total Kitchen Solution, and Meine Kuche. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
