Modular Kitchen Market Revenue Drivers, Growth Opportunities, Value Chain Analysis and Forecast Research Report Till 2025
“The global modular kitchen market size was worth USD 19.26 billion in the year 2018. The market is estimated to grow at a CAGR of 5.8% from 2019 to 2025.”
The global Modular Kitchen Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development. Market Overview: 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. Key Players:
Häfele GmbH & Co KG Lineadecor Nobia AB Pedini Snaidero Cucine Boston Cabinets, Inc. Häcker Küchen GmbH & Co. KG Bulthaup Nobilia GB Ltd.
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Growth Drivers: Consumers have shifted their preferences in the recent past from all-white kitchens to different colors kitchen that is neither too dark nor too pale. The popularity of champagne, cream colors and Charcoal grey has gained significant traction among consumers. Further, demand for red color has also increased as it provides aesthetically appealing looks to the kitchen. Moreover, the growing preferences for countertops that are joint-free and different cabinet shutters structures have also gained popularity among consumers. The growing emphasis on sanitization coupled with the use of multiple kitchen appliances, in emerging countries has further attributed to the market growth. Owing to the rapidly growing organized retail sectors in these countries, brand awareness has considerably increased among consumers, which, in turn, is positively affecting the market growth. With growing brand awareness, the demand for western-style products has increased in India; as such, products are clutter-free. Design Outlook:
L-Shape U-Shape Parallel Straight Island
Product Outlook:
Floor Cabinet Wall Cabinet Tall Storage
Raw Material Outlook:
Wood Metal Fiber/Plastic
Distribution Channel Outlook:
Offline Online
Regional Outlook: Europe was the largest market occupying over 30% of the market share in 2018. Factors such as the presence of several leading players and the availability of a wide variety of products are attributing to market growth. Countries such as U.K, Poland, France, and Germany are the major regional markets in the region. Asia Pacific is estimated to register the highest CAGR of over 10% during the forecast period. Rapid urbanization coupled with growing construction sectors in emerging countries such as India, Ch ina, and Indonesia is attributing to the growth of this region. Considering the growing demand from the Asia Pacific, leading manufacturers are focusing on expanding their presence to capture the larger market share. Browse Related Category Research Reports @ https://industryanalysisandnews.wordpress.com/
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