06-Apr-2023 | Zion Market Research
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.
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.
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 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.
This review is based on a report by Zion Market Research, 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”- Report at https://www.zionmarketresearch.com/report/modular-kitchen-market
The global modular kitchen market is led by players like:
By Raw Material
By Application
By Layout
By Region
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