Market Size of Asia-Pacific Modular Kitchen Industry
| Study Period | 2024 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 5.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia Pacific Modular Kitchen Market Analysis
The Asia-Pacific Modular Kitchen Market is estimated to be valued at about USD 2.0 Billion in the current year and is expected to register a CAGR of more than 5.5% during the forecast period.
Asia-Pacific market for modular kitchens is witnessing immense growth due to rapid urbanization along with fast growth of the construction industry in countries including China, India, Japan, Malaysia, and Indonesia. The global brands are expanding their business in this region to accommodate the rising regional product demand. Modular Kitchen designs are preferred by individuals who seek convenience, ease, and speed while working in the kitchen. Modular kitchen design supports the use of various accessories and provides enough space for groceries, utensils, spices, and other useful necessities.
The rising middle-class population, demand for premiumization, decreasing household square feet size and collective demand for space-saving, the rapid growth of residential construction industry projects, and surging number of partnerships between real estate project developers and modular kitchen manufacturers will further lead to the demand of modular kitchens in the region.
As the population's disposable income increases, so does the demand for luxury products like modular kitchens. The modular kitchen market growth is mainly driven by the need for convenient and customizable kitchens with a wide range of design options. As more and more people move to cities, the demand for modular kitchens is on the rise. Modular kitchens are often seen as luxury items in cities. The modular kitchen market growth is mainly driven by the need for convenient and customizable kitchens with a wide range of design options.
In the aftermath of the COVID-19 pandemic, the design of kitchens in the post-pandemic era is characterized by a greater openness and modularity, as well as a more conducive atmosphere for both cooking and warehousing. The market has experienced a period of growth in the wake of the COVID-19 pandemic, which is attributed to the continued presence of people working away from home and an increase in disposable income. This has led to an increase in the demand for furnishings and renovations. As a result, one of the key players in the market is making a variety of strategic decisions to help the market bounce back.
