The Global Modular Kitchen Market: A Growing Opportunity

Open kitchens that are connected to living areas are becoming increasingly common in modern homes. These kitchens accommodate living areas, gatherings, dining, and entertainment, among other things. Customers favor bright colors and charcoal greys in their kitchens, with a splash of red. Eco-friendly materials in kitchen cabinets, such as recycled plastic, granules, and enamel stones, are also popular among consumers. The growing purchasing power of purchasers in developed and developing countries, including the U.S., China, Brazil, and India, is predicted to fuel the modular kitchen market. The majority of people are turning to online channels, and the global population of internet users is increasing.

Access Full Report @ https://www.databridgemarketresearch.com/fr/reports/global-modular-kitchen-market

The Modular Kitchen Market was valued at USD 4.30 billion in 2021 and is expected to reach USD 6.51 billion by 2029, registering a CAGR of 5.30% during the forecast period of 2022-2029. Rising consumer desire for space-saving, efficient storage that maximizes the use of limited spaces is projected to drive product demand. In the limited area, these kitchen layouts provide convenient and effective storage for important kitchen commodities such as utensils, appliances, and groceries. In recent years, consumers have shifted away from the traditional all-white kitchen decor and towards colors that are neither too light nor too dark. Colors such as charcoal grey, champagne, and cream are becoming increasingly trendy in modern homes. Customers are increasingly integrating the color red to improve the appearance of their kitchens. The open kitchen is becoming increasingly popular among homeowners, as buyers choose two-toned cabinet shutters and joint-free surfaces.

Growing demand from middle-class population is expected to drive the market's growth rate

A growing middle-class population, an increase in the number of housing units, a decrease in the size of households, a growing demand for premiumization, changing customer tastes, and more partnerships between contractors and real estate project developers for designing modular kitchens are driving the modular kitchen market. The modular kitchen market is growing as the number of nuclear families increases, as does the inclination for tiny residences and space-saving solutions. Customers can customize the modular kitchen in a variety of ways, such as how quickly it can be assembled and disassembled. Modular kitchen manufacturers in India, for instance, provide kitchens with spice columns and grain storage areas.

Report Scope and Market Segmentation

Segment Analysis:

The global modular kitchen market is segmented into six notable segments based on product, layout, raw material, application, construction, and distribution channel.

• Based on product, the global modular kitchen market is segmented into floor cabinet and wall cabinet.

Floor cabinet segment is expected to dominate the global modular kitchen market

The floor cabinet segment is expected to dominate the global modular kitchen market and it is expected to reach USD 3499006.43 thousand by 2030 because they open up space for more natural light to flow through, making the kitchen feel lighter and brighter. They work really well for small kitchen spaces.

• On the basis of layout, the global modular kitchen market is segmented into straight layout, L-shaped layout, U-shaped layout, parallel layout, island kitchen, and G-shaped. The straight layout segment is expected to dominate the global modular kitchen market and it is expected to reach USD 2669830.52 thousand by 2030 because the straight layout is compact, unobtrusive, and works well for both small and large kitchen spaces. It allows better and maximum space utilization.
• On the basis of raw material, the global modular kitchen market is segmented into wood, metal, fiber/plastic, and others.

Wood segment is expected to dominate the global modular kitchen market

The wood segment is expected to dominate the global modular kitchen market and it is expected to reach USD 5041097.93 thousand by 2030 because wood is extremely durable, and can be cut into different shapes and patterns easily. It is relatively more economical than its counterparts.

• On the basis of application, the global modular kitchen market is segmented into residential and commercial. The residential segment is expected to dominate the global modular kitchen market and it is expected to reach USD 4248250.37 thousand by 2030 because with the growth in residential construction there is more demand for modular kitchen. As modular kitchens bring attractiveness to the homes along with space optimization.
• On the basis of construction, the global modular kitchen market is segmented into new construction, renovation and repair. The new construction segment is expected to dominate the global modular kitchen market and it is expected to reach USD 3820881.03 thousand by 2030 because it offers consumers choice regarding customizations at the time of construction. It allows for more flexibility in terms of shape, size, layout, and design.
• On the basis of distribution channel, the global modular kitchen market is segmented into offline and online. The offline segment is expected to dominate the global modular kitchen market and it is expected to reach USD 3615563.20 thousand by 2030 because provides an opportunity for face-to-face interaction with the customers. It offers the customers a firsthand experience of the product offerings and potential to make sales in an effortless manner.

Major Players

Data Bridge Market Research recognizes the following companies as the major market players: Nobia (Sweden), nobilia (India), Hettich Holding GmbH & Co. oHG (Germany), Häcker Küchen (Germany), Bulthaup GmbH & Co KG (Germany), Sleek International Pvt Ltd. (A subsidiary of Asian Paints) (India), SieMatic Möbelwerke GmbH & Co. KG (Germany), Alea Modular Kitchen (India), Easylife Kitchens (South Africa), Godrej Interio (India), Kohler Co. (U.S.), LINEADECOR (U.S.), Lukwood Kitchen (India), Nexus Interio Private Limited (India).

Market Development

• In 2022, Hettich, a global leader in furniture hardware, began to expand its production space for drawer runners and drawers at its headquarters in Kirchlengern/Bünde in Eastern Westphalia. The Hettich Group is investing more than €30 million (USD $32.43 million) in a new production hall with an additional 23,500 square meters of floor space. The company began work on the new "C3" building in late 2021, and the official start of construction took place on June 2, 2022, with a ceremony to lay the foundation stone.
• In 2022, Hettich Canada entered a new partnership agreement with Upper Canada Forest Products. The long-term deal will allow both companies to use their strengths to help the Hettich brand grow in Western Canada. Under the terms of the agreement, Upper Canada Forest Products will become the exclusive distributor of Hettich's products in Western Canada. The company will also provide installation and technical support for Hettich's products. Hettich is a global leader in furniture hardware, and its products are used by furniture manufacturers around the world. Upper Canada Forest Products is a leading supplier of wood products in Western Canada, and it has a strong network of dealers and installers. The partnership between Hettich and Upper Canada Forest Products is a significant development for both companies.

Regional Analysis

Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in the modular kitchen market during the forecast period 2022-2029

The dominating region in the global modular kitchen market is Asia-Pacific. The region is expected to account for the largest market share. The growth of the modular kitchen market in Asia-Pacific can be attributed to rising disposable income, increasing urbanization, and growing preference for modular kitchens among consumers.

North America is estimated to be the fastest growing region in the modular kitchen market in the forecast period 2022-2029

The growing region in the global modular kitchen market is North America. The growth of the modular kitchen market in North America can be attributed to the increasing demand for customized and personalized kitchens, growing preference for modern and stylish kitchens, and rising awareness about the benefits of modular kitchens.

For more detailed information about the modular kitchen market report, click here – https://www.databridgemarketresearch.com/fr/reports/global-modular-kitchen-market