KITCHEN FURNITURE AND FIXTURES MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

KITCHEN FURNITURE AND FIXTURES MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Kitchen furniture and fixture market involve the products used in kitchen decor. The market is segmented into furniture and fixture. Furniture consists of cabinets whereas fixture consists of kitchen hood faucet and lighting materials.

Key Highlights

• The market is expected to grow at a CAGR of 3.5% in the period of 2019-2024.
• The surging urbanization and remodeling in residential kitchens are the key market drivers.
• Kitchen furniture and fixtures are gaining prominence in investments with consistent growth in the hotel industry, which in turn drives the growth in travel and tourism.
• Further, the developed regions with a high percentage of the population living in the urban areas have been the primary consumers for kitchen furniture and fixtures. This is likely to present the market with huge growth opportunity and potential in the near future.

Key Market TrendsGrowing Prominence for Kitchen Furniture

Kitchen furniture includes fitted kitchen units as well as other wooden furniture used for preparing food or for food storage. The refurbishment of houses is the main growth of the segment.

Kitchen specialists, such as independents and retail chains account for the largest proportion of kitchen furniture sales. Such outlets have increased in proportional importance at the expense of DIY outlets as consumers are placing greater emphasis on design and quality. Sales through kitchen specialists account for the largest portion of the total market value.

Asia-Pacific is Expected to Witness the Highest Growth

Asia-Pacific region has a lot more growth opportunities accompanied by growth potential in Australia, China, and Indian Market.

The rising disposable incomes, improving consumer lifestyles and a significant increase in the GDPs largely supplement the growth of the market in the Asia-Pacific region. Further, the growth is also supplemented by the ongoing developments in the real estate sector in the region, which largely boost the adoption of luxury furniture by both domestic as well as commercial users. China is likely to witness the fastest growth, owing to the rise in disposable incomes and rapid urbanization.

Competitive Landscape

The report covers major international players operating in the kitchen furniture and fixtures market. In terms of market share, few of the major players currently dominate the market. However, demand is driven by consumer income. Large companies compete through volume purchasing, breadth of products, and effective merchandising and marketing. Small companies focus on a market segment and compete through the depth of products and superior customer service.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Standard Furniture
Masterbrand Cabinets
Ikea
American Woodmark
Symphony Group
Golden Home
Alno
Howdens
Euro
Rite Cabinets
Kohler Co.

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