Market Trends of GCC Kitchen Hood Industry
Increase in Building Construction in GCC
As families get smaller, they are opting for flats, which has increased by building construction around the country. As a result, real estate prices are rising, and the GCC market is experiencing overcapacity. Despite this, there is a growing demand for modular kitchens in residential properties to better use available space. As the demand for modular kitchens grows, so do kitchen hoods. Rapid economic development and a rise in building construction across the GCC, coupled with a growing population of ex-pats in the region, will demand modular kitchen designs in the GCC.
Vision 2030 of KSA and Sheikh Zayed Housing Programme (UAE) with plans to construct housing in the countries will positively affect the demand for the modular kitchen industry in the GCC.
Growing Urbanization Boosts The Demand For The Market
The urban population across the GCC countries is anticipated to display a significant adoption rate and substantial growth in kitchen hood market revenue. The kitchen hood market is expected to exhibit considerable growth in the coming years owing to the rise in disposable incomes and rapid urbanization that has led to enhanced consumer spending.
Apart from changing lifestyles and working styles, urbanization has led to growth in the organized retail sector. This, in turn, has led to a change in consumers' buying behavior. In particular, the decision-making process before buying something has been significantly affected. The rise in urbanization has also led to people having additional disposable income.
The market is anticipated to witness steady demand for kitchen hoods due to rising spending capacity and rapid urbanization in emerging regions. Consumers are progressively seeking value-added products that can enhance the home living experience and are affordable at the same time.
This has resulted in a rise in demand for kitchen hoods, including in the smart kitchen appliances in the GCC countries, which, in turn, have accelerated the growth of the kitchen appliances or home appliances industry.
