The UK domestic kitchen furniture market shows continued value growth for the third year running, reaching 5% in 2015/16.
AMA states “The kitchen furniture market is at the mature stage of its product lifecucle, with replacement sales accounting for almost 80% of sales, a share which had increased steadily in the past, but has remained stable in recent years.”
The kitchen furniture market is comprised of furniture, worktops and sinks, and accounts for an estimated 80% of the market in terms of value.
AMA has stated the market growth could be due to the ever more apparent blur between the kitchen and dining room, as well as consumers generally moving towards open plan living. This diversion away from a functional kitchen form has meant accessory suppliers have had to consequently develop add value, as well as create innovative storage solutions for these new spaces.
Forecasts for the next 2-3 years have been downgraded as a result of the ‘Brexit’ vote, which is likely to lead to slower growth in the UK economy, price increases for imported raw materials and less confidence amongst consumers.
Speaking on behalf of AMA research, Fiona Watts remarked “In the short-term, margins are likely to be squeezed further, particularly by the increasing cost of imported raw materials.”
AMA Research / amaresearch.co.uk