by The kitchen storage organization market is estimated to be valued at US$ 133.66 Bn in 2022 and is expected to exhibit a CAGR of 4.57% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Kitchen storage organization products such as cabinets, drawers, racks and shelves help efficiently organize kitchen supplies, utensils, and ingredients without taking up too much space. They are increasingly being incorporated in modular kitchen designs which are pre-fabricated solutions that offer convenience of installation along with aesthetically pleasing storage solutions. Modular kitchens are gaining high traction in residential sector due to rising consumer preference for well-planned kitchen areas.
Market Dynamics:
Growing adoption of modular kitchens: Modular kitchen has become a popular kitchen design trend globally owing to its plug-and-play installation along with optimized storage capacity. The demand for modular solutions is estimated to drive sales of kitchen storage organization products such as cabinets, drawers and shelves which are integral part of modular kitchen design.
Rising home improvement and remodeling activities: Growing consumer preference for improved home interiors along with increasing spending capability is fueling kitchen remodeling and renovation activities. This is positively impacting the sales of kitchen storage organization products such as pull-out drawers, flip-top containers and under-sink organizers which help maximize available space after kitchen remodeling.
Segment Analysis
The Kitchen Storage Organization Market comprises different sub-segments such as cabinetry, shelving, accessories and others. Among these, the cabinetry segment accounts for the largest market share and is expected to continue its dominance over the forecast period. Cabinets offer versatile storage solutions for kitchen items and come in various designs, styles and materials to suit all kitchen aesthetics, which has made them the preferred choice for most consumers globally.
PEST Analysis
Political: There are no significant political risks impacting the kitchen storage organization market.
Economic: The rising disposable incomes and changing lifestyle of people has increased spending on home improvement and kitchen upgrades, which is driving demand for kitchen storage organization products.
Social: Growing urbanization has led to smaller home sizes, necessitating efficient storage solutions for kitchens. Social media influence has also increased focus on well-organized aesthetic kitchen spaces.
Technological: Advancements in materials allow manufacturers to offer durable, customizable cabinets and shelving with easy-clean surfaces and configurable designs. Smart connectivity features are also gaining traction.
Key Takeaways
The global kitchen storage organization market is expected to witness high growth, exhibiting CAGR of 4.57% over the forecast period, due to increasing demand for space-saving and efficient storage solutions.
The Asia Pacific region is expected to dominate the market during the forecast period. Factors such as rapid urbanization, growing middle-class population with high disposable income, changing consumer lifestyles and rising number of nuclear families are driving the demand for kitchen storage organization products in the region.
Key players operating in the kitchen storage organization market are Kitchen Magic, Rev-A-Shelf, Knape & Vogt Manufacturing Company, Enclume Design Products, Kesseböhmer Clever Storage, ShelfGenie Franchise Systems, LLC, Old Dutch International, Anchor Hocking, LLC, Blum Australia Pty Ltd, Inter IKEA Systems B.V., Flywell International Corp, Masterclass Kitchens, and Others. These players are focusing on new product development and launches to consolidate their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
