kb-network    Statistics 29 Jan 2018

Global modular kitchen market to grow steadily at a CAGR of +20% by 2022, says latest report

The latest report by QY Research is a complete overview of the market, covering various aspects of product definition, segmentation based on various parameters, and the prevailing vendor landscape. It compiles in-depth information, research methodologies, featuring relevant charts and tables to enable those who purchase the full report to get a better perspective of this global market. Here we offer a summary:

The definition used in the report was that a modular kitchen consisted of a range of fixtures and cabinets put together in a planned manner to facilitate effective usage of kitchen space. A modular kitchen normally consists of wooden cabinets, countertops, internal accessories such as built-in covered baskets and household and kitchen appliances such as washbasins, dishwashers, chimneys, cooking range/stoves, and microwave ovens. It is custom designed and customers can choose from a variety of options, features, colours, and patterns.

According to the report, one of the main drivers in this market is an increase in the number of residential projects in the countryside, which demand more customised kitchens. This has led to the growth of the modular kitchen market in India especially. Further, the report states that one of the main challenges in this market are the high prices of branded modular kitchens, which cause customers to opt for personalised designs offered by local carpenters, decreasing the market share of the organised segment.

An assessment of the market attractiveness of new players and products compared to established players has been provided in the publication. The research report also mentions the innovations, new developments, marketing strategies, branding techniques, and products of the key participants present in the global modular kitchen market.

The global modular kitchen market is a highly fragmented, niche market with the presence of a massive number of vendors. Providers in the market compete based on pricing, innovation, service, reputation, distribution, and promotion. As the market is still in its development stage, small vendors with innovative solutions have the chances of being acquired by large players in the market.

Companies profiled in this report include Pepperfry, Urban Ladder, H&R Johnson (a division of Prism Cement Limited), HomeLane, Fabfurnish, Projectline Z (Oren), SleekWorld, Hacker Kuchen, Modfurn Systems, MoBEL Kitchens, Godrej & Boyce, IFB Appliances, Veneta Cucine CC India, Poggenpohl, and Notle.

You can purchase the full report, and others, here:

QY Research | qyreports.com