Market Size of Modular Kitchen Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 8.95 Billion |
| Market Size (2029) | USD 12.16 Billion |
| CAGR (2024 - 2029) | 6.33 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Modular Kitchen Market Analysis
The Modular Kitchen Market size is estimated at USD 8.95 billion in 2024, and is expected to reach USD 12.16 billion by 2029, growing at a CAGR of 6.33% during the forecast period (2024-2029).
When the COVID-19 pandemic broke out, it caused factories to close, messed up supply chains, and put limits on transportation, all of which hurt several manufacturing industries. Due to the lockdown, sales at the market went down over the past few years because stores closed and customers had less access. But in the years after the pandemic, the market grew because more people worked from home and people had more money to spend. This led to an increased demand for furnishings and renovations.
The modular kitchen market is driven by 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. As the number of nuclear families grows, the preference for small houses and space-saving ideas are giving growth to the modular kitchen market. The modular kitchen gives customers a lot of ways to customize it, like the fact that it can be put together and taken apart quickly. In India, for example, modular kitchen makers offer kitchens with spice columns and places to store grains.
Open kitchens that are attached to living spaces are gaining popularity among contemporary houses. These kitchens provide space for living areas, parties, dining, entertainment, etc. Customers prefer light colors and charcoal grays, along with a splash of red in the kitchens. Consumers are also opting for eco-friendly materials in kitchen cabinets, such as recycled plastic, granules, and enamel stones. The increasing purchasing power of buyers from developed and developing nations such as the United States, China, Brazil, and India is expected to drive the modular kitchen market. The majority of people are shifting to online channels, and the number of internet users worldwide is growing.
