LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global modular kitchen market to grow at a CAGR of almost 5% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global modular kitchen market for 2017-2021. A modular (modern) kitchen consists of modern furniture and specially designed cabinets and storage units that can store utensils, other cooking accessories and appliances. A modular kitchen is designed in such a way to enable maximum utilization of space.
There have been significant changes in the construction plans of houses. These include an increase in the room size and introduction of open floor plans and loft-style living rooms. The L-shaped design is the most popular and commonly used layout for kitchens. This design includes two adjacent perpendicular walls. The absence of a wall division between the living and kitchen area provides users with the maximum flexibility while entertaining guests.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global modular kitchen market:
- High demand for convenient and customized kitchens with a wide design variety
- Efficient space management, and ease of assembling
- Growth in residential construction activities
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High demand for convenient and customized kitchens with a wide design variety
A traditional kitchen provides limited design options, unlike a modular kitchen that offers a wide variety of designs to choose from. Changes in lifestyles and consumer preference have induced a growing demand for organized facilities and kitchens that would enhance ease in cooking. A modular kitchen can be designed and customized to meet the user’s requirements. It provides convenience and a higher accessibility to kitchen tools.
Poonam Saini, a lead furniture and home furnishing research analyst at Technavio, says, “A traditional kitchen, which is mostly made by carpenters, usually has rough edges and an uneven finishing. Any kind of replacement cannot be guaranteed, and servicing consumes time. In comparison, a modular kitchen has a smooth and seamless finish. Several modular kitchen companies, such as Sleek, provide easy replacement and contracts for regular services to maintain high kitchen quality.”
Efficient space management, and ease of assembling
In a traditional kitchen, the user cannot access the corners of the kitchen due to their reduced depth. A modular kitchen eliminates such issues, converting the corners into a functional space. Cutlery is placed in special trays in the form of drawers. The use of such kitchens has triggered a demand for steam ovens, barbeques, and other electronic appliances. This kitchen type is particularly suited for busy individuals who seek convenience, ease, and speed while working in the kitchen.
“In India, modular kitchen manufacturers have customized the kitchen to suit the region’s needs. They incorporate spice racks and special trolleys for grains. The kitchens use a soft-close drawer system, makes minimum or no noise while opening or closing them. Such features enhance the ease of cooking, save time, and increase the user's productivity,” adds Poonam.
Growth in residential construction activities
The construction industry has been witnessing exponential growth over the past couple of years. This trend is strongly observed in developing economies. But with rates of urban properties growing, and household size decreasing in many parts of the world, the residential units have started to get more compact in size.
Also, homeowners residing in their properties are increasingly getting involved in renovation and reconstruction projects. With modular kitchens penetrating the households deeper, modular kitchen is expected to become a more mainstream option for kitchen spaces during the forecast period.
Top vendors:
- Hafele
- Lineadecor
- Nobia
- Pedini
- Snaidero
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