Asia Pacific Modular Kitchen Market Size
| Study Period | 2024 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 5.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia Pacific Modular Kitchen Market Analysis
The Asia-Pacific Modular Kitchen Market is estimated to be valued at about USD 2.0 Billion in the current year and is expected to register a CAGR of more than 5.5% during the forecast period.
Asia-Pacific market for modular kitchens is witnessing immense growth due to rapid urbanization along with fast growth of the construction industry in countries including China, India, Japan, Malaysia, and Indonesia. The global brands are expanding their business in this region to accommodate the rising regional product demand. Modular Kitchen designs are preferred by individuals who seek convenience, ease, and speed while working in the kitchen. Modular kitchen design supports the use of various accessories and provides enough space for groceries, utensils, spices, and other useful necessities.
The rising middle-class population, demand for premiumization, decreasing household square feet size and collective demand for space-saving, the rapid growth of residential construction industry projects, and surging number of partnerships between real estate project developers and modular kitchen manufacturers will further lead to the demand of modular kitchens in the region.
As the population's disposable income increases, so does the demand for luxury products like modular kitchens. The modular kitchen market growth is mainly driven by the need for convenient and customizable kitchens with a wide range of design options. As more and more people move to cities, the demand for modular kitchens is on the rise. Modular kitchens are often seen as luxury items in cities. The modular kitchen market growth is mainly driven by the need for convenient and customizable kitchens with a wide range of design options.
In the aftermath of the COVID-19 pandemic, the design of kitchens in the post-pandemic era is characterized by a greater openness and modularity, as well as a more conducive atmosphere for both cooking and warehousing. The market has experienced a period of growth in the wake of the COVID-19 pandemic, which is attributed to the continued presence of people working away from home and an increase in disposable income. This has led to an increase in the demand for furnishings and renovations. As a result, one of the key players in the market is making a variety of strategic decisions to help the market bounce back.
Asia Pacific Modular Kitchen Market Trends
Smart Utilization of Space Drives the Growth of the Modular Kitchen
The Kitchen and Kitchenware industry in India is witnessing growth coupled with the fast pace of growth of the Indian economy. The kitchen market is one of the fastest-growing sectors with rising demand for Modular kitchens.
The modular kitchen segment has grown due to India's growing middle class, smaller households, changing consumer preferences, high demand for quality products and services, and consumers' preference for contemporary design and comfort. One of the most important aspects to take into account when designing your home is the smart use of your space, especially in the kitchen, which is used for an average of 8 to 10 hours per day in India. The integration of the storage space will ensure that your kitchen looks neat and clutter-free. This can only be achieved through the use of smart modular kitchen designs.
With the ever-changing needs of the kitchen and the ease of integration of technology, there is always a constant flow of new kitchen designs to keep up with the changing preferences of the customers. Nowadays, modular kitchens come with built-in hobs, built-in ovens, built-in coffee machines, and so on. Smart kitchen technology not only enhances the convenience of the kitchen but also helps in saving resources in all aspects.
Branded quality products are demanded for the construction of modular kitchens in the country. More than 80% of investments in modular kitchens come from Tier-1 Cities such as Delhi, Mumbai, Bangalore, Pune, Chennai, Hyderabad, and Calcutta.
Growing Population to Drive the Demand of Modular Kitchens in Asia-Pacific
The population is growing in the Asia-Pacific region and is projected to grow in the future. Due to the traditional home concept in most Asia-Pacific countries, including India and China, people like to cook at home. Eating and cooking are very precious to people in this region. Therefore, it is expected that people would look for renovating kitchens as per their needs or invest in long-term kitchens. Modular kitchen designs are expected to be in demand when people want to meet their kitchen needs by renovating a portion of the kitchen. The growing population, along with the ease and convenience of modular kitchen designs, is expected to propel the demand in the Asia-Pacific region.
The Asia-Pacific modular kitchen market is booming due to the growing need of consumers for space-saving, efficient storage and the growing preference for charcoal grey interiors, champagne interiors, and cream interiors. In addition, with purchasing power parity in most regions, consumers are spending more on products that make their daily household tasks easier.
Consumers' disposable income is on the rise, and with it, the demand for luxury products like modular kitchens is on the rise. Growth of smart homes around the world advances in kitchen technology Rapid growth in the residential construction industry. The modular kitchen market is being driven by automation.
For example, in May of 2021, the modular outdoor kitchen company RTA Outdoor Living introduced a new system called MOKS (Modular Outdoor Kitchen System). This system allows customers to select designs and place the ready-built outdoor kitchens on the premises. Consumers' preference for convenient and customizable kitchens with a wide range of design options is one of the main factors driving the market growth of modular kitchens. More and more people are moving to cities, and with that, there's a growing demand for modular kitchen, which is often considered a luxury item in cities.
Asia Pacific Modular Kitchen Industry Overview
Asia-Pacific modular kitchen is fragmented, with various global, local, and small players present in the market. Manufacturers are innovating by providing new designs, color textures of modular kitchens, and additional services such as the installation of manufactured cabinets and online designing of kitchens in the market.
Indian manufacturers, for example, are innovating and offering different products in cabinets with unique racks for spices, grains, etc. In Japan, manufacturers are also offering innovative space-saving kitchens for small areas that conceal a unit composed of sinks, counters, and cooktops.
The major players are Godrej & Boyce Mfg. Co. Ltd., Sleek International Pvt. Ltd., Hafele Gmbh & Co KG, IFB Industries Ltd., and Hettich Holding GmbH & Co.
Asia Pacific Modular Kitchen Market Leaders
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Godrej & Boyce Mfg. Co. Ltd.
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Sleek International Pvt. Ltd.
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Hafele Gmbh & Co KG
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IFB Industries Ltd.
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Hettich Holding GmbH & Co.
*Disclaimer: Major Players sorted in no particular order
Asia Pacific Modular Kitchen Market News
November 2022: Panasonic Life Solutions India, which manufactures electrical construction materials, housing, and electronics technologies, launched its latest modular kitchen range -the I-Class Kitchen. The design elements were expected to be similar to those of an L-class kitchen; however, it will be locally manufactured through an original design manufacturer in Gujarat.
August 2022: Hafele India launched a new range of kitchen and home solutions, which included Matrix Drawer and Runner Systems, Free Flap Fittings, Metalla 510 Furniture Hinges, and Wire Storage Solutions. H盲fele India has a franchise network of over 190 shops, along with over 500 direct dealers and more than 90 distributors. It has a logistics center in Mumbai and distribution centers in Delhi, Bangalore, Kolkata, and Colombo, respectively.
Asia Pacific Modular Kitchen Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers/Consumers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Insights on Modular Kitchen Trends in the Market
4.7 Insights on Modular Kitchen Designs in the Market
4.8 Insights on Technological Innovations in the Market
4.9 Insights on Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Floor Cabinet & Wall Cabinets
5.1.2 Tall Storage Cabinets
5.1.3 Other Products
5.2 By Distribution Channel
5.2.1 Offline (Contractors, Builders, etc.)
5.2.2 Online
5.3 By End-User
5.3.1 Residential
5.3.2 Commercial
5.4 By Country
5.4.1 India
5.4.2 China
5.4.3 South Korea
5.4.4 Japan
5.4.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Spacewood
6.2.2 Godrej and Boyce Mfg
6.2.3 Zuari Furniture
6.2.4 IFB Industries Ltd
6.2.5 Zbom Kitchen Cabinet
6.2.6 Oppein Kitchen Cabinet
6.2.7 Yalig Kitchen Cabinet
6.2.8 Hafele
6.2.9 Kohler
6.2.10 Style Spa
6.2.11 Kajiwara Inc.*
- *List Not Exhaustive
7. FUTURE OF THE MARKET
8. DISCLAIMER AND ABOUT US
Asia Pacific Modular Kitchen Industry Segmentation
A modular kitchen refers to a pre-fabricated kitchen setup that is defined and manufactured in modules or components. These modules are then assembled on-site to create a fully functional kitchen. The modular kitchen concept offers several advantages over traditional kitchens, including flexibility in design, ease of installation, efficient space utilization, and the ability to customize as per specific requirements.
A complete background analysis of the Asia-Pacific Modular Kitchen Market, which includes an assessment of the national accounts, economy, and emerging market trends by segments, significant changes in the market dynamics, and market overview, is covered in the report.
The Asia-Pacific market is segmented by Product (Floor Cabinets, Wall Cabinets, Tall Storage Cabinets, and Other Products), Distribution Channel (Offline (Contractors, Builders, etc.) and Online), End-User (Residential and Commercial), and Country (India, China, South-Korea, Japan and Rest of Asia-Pacific). The report offers market size and forecasts for the Asia-Pacific Modular Kitchen Market in value (USD Million) for all the above segments.
| By Product | |
| Floor Cabinet & Wall Cabinets | |
| Tall Storage Cabinets | |
| Other Products |
| By Distribution Channel | |
| Offline (Contractors, Builders, etc.) | |
| Online |
| By End-User | |
| Residential | |
| Commercial |
| By Country | |
| India | |
| China | |
| South Korea | |
| Japan | |
| Rest of Asia-Pacific |
Asia Pacific Modular Kitchen Market Research FAQs
What is the current Asia-Pacific Modular Kitchen Market size?
The Asia-Pacific Modular Kitchen Market is projected to register a CAGR of greater than 5.5% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Modular Kitchen Market?
Godrej & Boyce Mfg. Co. Ltd., Sleek International Pvt. Ltd. , Hafele Gmbh & Co KG , IFB Industries Ltd. and Hettich Holding GmbH & Co. are the major companies operating in the Asia-Pacific Modular Kitchen Market.
What years does this Asia-Pacific Modular Kitchen Market cover?
The report covers the Asia-Pacific Modular Kitchen Market historical market size for years: . The report also forecasts the Asia-Pacific Modular Kitchen Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia Pacific Modular Kitchen Industry Report
Statistics for the 2024 Asia Pacific Modular Kitchen market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Asia Pacific Modular Kitchen analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
