Dublin, June 18, 2021 (GLOBE NEWSWIRE) -- The "Modular Kitchen Market, Global Forecast By Distribution Channels (Online, Offline), Design, Products, Region, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Global Modular Kitchen Market will be US$ 28.6 Billion by 2027, from US$ 20.7 Billion in 2020.
Global Modular Kitchen Industry will grow at a healthy CAGR of 4.73% during 2020-2027.
In recent years, global phenomena have changed about Kitchen, as this reflects style and personality. Around the globe, the most common grievance everyone has about kitchens doesn't have enough space and to overcome these types of grievances, key players play a crucial role and have Modular kitchens in the houses.
The kitchen is probably the warmest part of every home. Worldwide, with shrinking homes and surging modernization, modular kitchen have become basic necessity of every house nowadays. The kind of space available would play a significant role in determining the types of modular kitchen.
The report has studied the most common types of the modular kitchen like L-shaped, straights, U-shaped, parallel, Island. This type of design differs in the global context as customers choose their preferences as per their budgets and requirements.
Globally, L- shape and parallel shape design is a popular kitchen among consumers. Further, the most popular products are tall storages cabinet and wall-cabinet, which can be used in small and large space houses. Modular kitchens integrate convenience, proficient use of space, and allow for less time-consuming tasks. Besides, in recent times, developing countries India, China, Thailand, and Brazil's purchasing power have surged with developed countries that tend to give lucrative opportunities in the global modular kitchen market.
In addition, around the globe, the online distribution channel is playing a vital role in the growth of the modular kitchen market. The factor driving this market is a growing number of partnerships between real estate's project developers and modular kitchen manufacturers, rising middle-class population, declining household square feet size, and global surge in the residential construction industry project.
It also has one major advantage over the traditional kitchen of having flexible features such as replacing single units instead of the entire system in case of repairing.
COVID-19 impact on Modular Kitchen Industry
The ongoing COVID-19 pandemic has seen inconsistent growth in this industry. As such, The publisher has seen a decline in the products like furniture fixtures, home and kitchen decor. We expect that the nature of this decline is temporary and its market will grow during the forecast period.
Globally, the modular kitchen market is a combination of international and regional players. Players are strategically involved in increasing the business through merger and acquisitions.
The report has covered key players like Nobilia GB Ltd, Hafele GmbH & Co KG, Hettich Group, Nobia AB, and IFB Industries.
Key Topics Covered:
2. Research & Methodology
3. Executive Summary
4. Market Dynamic
4.1 Growth Driver
5. Global Modular Kitchen Market
6. Market Share - Global Modular Kitchen Market
6.1 By Products
6.2 By Design
6.3 By Distribution Channels
6.4 By Regions
7. Products - Global Modular Kitchen Market
7.1 Floor Cabinet
7.2 Tall Cabinet
7.3 Wall Storage
8. Designs - Global Modular Kitchen Market
9. Distribution Channel - Global Modular Kitchen Market
10. Regions - Global Modular Kitchen Market
10.1 North America
10.4 Rest of the World
11. Merger & Acquisitions
12. Company Analysis
12.1 Nobilia GB Ltd
12.1.2 Recent Development
12.2 Hafele GmbH & Co KG
12.3 Hettich Group
12.4 Nobia AB
12.5 IFB Industries
For more information about this report visit https://www.researchandmarkets.com/r/52ygm8
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