Emphasis on Type (Ready-to-assemble, Stock Kitchen Cabinets, Semi-custom Kitchen Cabinets, Custom Kitchen Cabinets); Raw Material (Wood, Metal, Other Raw Materials); Distribution Channel (Offline, Online); End User (Residential, Commercial); and Region/Country
The Kitchen cabinet market was valued at USD 147.15 billion in 2022 & is expected to grow at a CAGR of 5% from 2023-2030. The term “kitchen cabinet” refers to the industry involved in the design, manufacturing, and sale of kitchen cabinets and related kitchen storage solutions. Kitchen cabinets are a fundamental component of kitchen design, providing storage for cookware, utensils, and food items while also contributing to the overall aesthetic of the kitchen. The market for kitchen cabinets is driven by several factors, leading to its growth and popularity. Consumers are becoming more design-conscious and are looking for aesthetically pleasing and functional kitchen spaces. This shift in consumer preferences has led to a surge in demand for custom and stylish kitchen cabinet options. Moreover, Many consumers are increasingly aware of the importance of kitchen organization. Kitchen cabinets are seen as essential storage solutions that can help declutter and optimize kitchen spaces, making them more functional are the key factors which boost the adoption of inorganic growth strategies among key industry players around the globe. For instance, in May 2021, Häfele UK has launched a new cabinet door range, completing its kitchen fit-out offering. Entitled Aspekt, the range includes four different door styles – standard slab, pressed shaker, integrated J-pull and a premium slab – each offering various finishes in seven different colour options, and so on.
Some of the major players operating in the market are Poggenpohl, JPD Kitchens, Canyon Creek Cabinet Company, Leggett & Platt, Incorporated, LEICHT Küchen AG, STANLEY LIFESTYLES, American Woodmark Corporation, Inter IKEA Systems B.V., MasterBrand Cabinets, LLC, GoldenHome Living Co. ,Ltd. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, the ready-to-assemble segment held a significant share of the market in 2023.”
Based on type, the market is segmented into ready-to-assemble, stock kitchen cabinets, semi-custom kitchen cabinets, and custom kitchen cabinets. The ready-to-assemble category is expected to witness the highest CAGR during the forecast period. RTA cabinets are generally more affordable than pre-assembled cabinets because they require less labor for installation. Consumers are increasingly price-conscious, and RTA cabinets offer an attractive cost-effective solution. Additionally, The do-it-yourself (DIY) trend is gaining popularity, and many homeowners are willing to take on kitchen cabinet installation as a DIY project. RTA cabinets cater to this DIY market, as they come with easy-to-follow assembly instructions.
“Amongst raw materials, the wood segment held the higher CAGR in the market in 2023.”
Based on raw materials, the kitchen cabinet market has been classified as wood, metal, and other. Among them, the wood segment is expected to grow at a higher CAGR in the market. Wood has a timeless and natural beauty that appeals to many consumers. It offers a warm and classic look, making it a preferred choice for kitchen cabinets. Moreover, wood can be easily customized to suit various design styles and preferences. Recent developments in woodworking technology allow for intricate designs and a wide range of finishes. Furthermore, many consumers are becoming increasingly conscious of the environment, and wood companies have responded by using sustainable and responsibly sourced wood materials. This focus on sustainability aligns with the growing demand for eco-friendly products.
“Asia-Pacific dominated the kitchen cabinet market in 2023.”
Asia-Pacific is anticipated to grow at a substantial CAGR during the forecast period. The Asia-Pacific housing stock is aging, leading to an increased need for home renovations. Many homeowners are choosing to remodel their kitchens, including replacing cabinets, as a cost-effective way to improve the overall value and functionality of their homes. Moreover, changes in demographics, including multi-generational living and a rising number of dual-income households, are increasing the demand for larger, more functional kitchens with ample storage, driving the need for new and innovative cabinet solutions. Futhermore, Current design trends often prioritize open-concept kitchens with customized and stylish cabinet options. These trends, including open shelving, are pushing homeowners to update their cabinets. In addition, Growing environmental consciousness has led to an increased demand for eco-friendly and sustainable kitchen cabinets, with more consumers seeking products that use renewable materials and eco-conscious manufacturing processes in the region. For instance, IKEA continued its expansion in the Asia-Pacific region in 2021. The company opened new stores and enhanced its product range to cater to the specific needs and design preferences of customers in the region.
Kitchen cabinet Market Report Coverage
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Key Insights
4. Executive Summary
5. Impact Of Covid-19 On The Kitchen Cabinet Market
6. Global Kitchen Cabinet Market Revenue, 2020-2030f
7. Market Insights By Type
8. Market Insights By Raw Materials
9. Market Insights By Distribution Channel
10. Market Insights By End User
11. Market Insights By Region
12. Kitchen Cabinet Market Dynamics
13. Kitchen Cabinet Market Opportunities
14. Kitchen Cabinet Market Trends & Insights
15. Demand And Supply Side Analysis
16. Value Chain Analysis
17. Pricing Analysis
18. Competitive Scenario
19. Company Profiled
20. Disclaimer
Research Methodology for the Kitchen Cabinet Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Kitchen cabinet market were the three major steps undertaken to create and analyze the adoption of kitchen cabinet in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Kitchen cabinet market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Kitchen cabinet market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Kitchen cabinet market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, raw materials, distribution channel and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Kitchen cabinet market. Further, we conducted factor analysis using dependent and independent variables such as type, raw materials, distribution channel and end-users of the Kitchen cabinet market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Kitchen cabinet market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Kitchen cabinet market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Kitchen cabinet market. data was split into several segments & sub-segments post studying various parameters and trends in the areas type, raw materials, distribution channel and end-users in the global Kitchen cabinet market.
The main objective of the Global Kitchen cabinet Market Study
The current & future market trends of the global Kitchen cabinet market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the current market size and growth potential of the global kitchen cabinet market?
Q2: What are the driving factors for the growth of the global kitchen cabinet market?
Q3: Which segment has the largest share of the global kitchen cabinet market by type?
Q4: What are the emerging opportunities in the global kitchen cabinet market?
Q5: Which region will dominate the global kitchen cabinet market?
Q6: Who are the key players operating in the global kitchen cabinet market?
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