Kitchen Furniture and Fixtures Market Outlook 2031
The global kitchen furniture and fixtures market size was valued at USD 14,5513 Mn in 2022 and is likely to reach USD 187,214 Mn by 2031, expanding at a CAGR of 3.6% during 2023–2031. The market growth is attributed to the growing demand for smart kitchens and increasing urbanization.
Kitchen furniture and fixtures enhance the design of a traditional kitchen with their durable accessories. The demand for furniture and fixtures is increasing, as people spend more time at home than any other places, leading to the growing demand for remodeling living spaces.
Kitchen cabinets offer convenient storage spaces, and it is a preferable way of using the existing kitchen space. It provides a lot of space, as cabinets have multiple shelves that let users store crockery, cutlery, and other items.
The market report finds that the COVID-19 pandemic had a negative impact on the market. The pandemic disrupted the supply chain system, raw materials manufacturing, and others. Lack of workforce has impacted the market, with the shortage of raw material supply that led to the increased price of kitchen furniture and fixtures.
The Impact of Artificial Intelligence on the Kitchen Furniture and Fixtures Market
Artificial intelligence has a significant impact on the market. AI has drastically modified the way of using stovetops and ovens. Some leading companies, including Whirlpool and June Oven, launched smart ovens with AI technology, which analyze the type of food, cooking time, and temperature.
The rising preference for Wi-Fi-enabled air fryers, self-precision cookers, and others is boosting the market revenue. The Internet of Things (IoT) plays a significant role in the integration of smart kitchen furniture and fixtures. IoT-enabled appliances, including touchless faucets with internet, use infrared sensors to detect the presence of hands of a user without the need for physical touch. Thus, the market is projected to witness robust growth in the forecast period with the continued developments in AI.
Kitchen Furniture and Fixtures Market Dynamics
Major Drivers
Rising urbanization and consumer preferences for kitchen remodeling are expected to boost the market during the forecast period. Increasing adoption of kitchen renovations and remodels by homeowners to make the kitchen space aesthetic is increasing consumer preference.
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According to an analysis from Houzz, a cloud-based furniture remodeling app, the spending on minor kitchen remodels increased by 25%, that is USD 10,000, in 2021 up from USD 8,000 in 2020 in the US.
Growing adoption of sustainable and eco-friendly kitchen furniture and fixtures is expected to drive the market in the coming years. Sustainable and eco-friendly kitchen furniture and fixtures help conserve natural resources and mitigate climate change. These are often non-toxic materials, which are beneficial for both users and the furniture.
New product launches by key players are expected to further boost the market during the forecast period.
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For instance, In January 2023, Room & Board and Room & Board Business Interiors, the commercial arm of the furnishing company, launched its new products into the outdoor kitchen market. The offerings include storage cabinets, bar counters, and pre-configured kitchen sets. Moreover, the company introduced new outdoor kitchen products to optimize outdoor space as well as offer sustainable, practical, and maintenance-free solutions for commercial and residential spaces.
Existing Restraints
High cost of kitchen furniture and fixture products is expected to restrain the market in the coming years. Premium quality kitchen fixtures are comparatively expensive, which is expected to limit the market revenue during the forecast period.
Emerging Opportunities
Increasing R&D activities to implement automation in modular kitchens is expected to create lucrative opportunities for market players in the coming years. Tech integration helps kitchen furniture and fixtures connect with kitchen appliances, including microwaves, refrigerators, and more. Additionally, the rising preference for connected homes is creating traction for the smart kitchen, thereby creating opportunities for the market.
Scope of the Kitchen Furniture and Fixtures Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Kitchen Furniture and Fixtures Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Type (Furniture and Fixture), Material (Wood, Metal, and Others), Distribution Channel (Online and Offline), and End-user (Commercial and Household)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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ALNO, Inc.; Standard Furniture; IKEA Systems B.V.; MasterBrand Cabinets, LLC; American Woodmark Corporation.; BOFFI S.P.A.; Bulthaup; Howden Joinery Ltd; Ballingslöv International AB; Cabico inc; Godrej Interio; Black Red White; and Goldenhome International Inc.
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Market Segment Insights
Type Segment Analysis
Based on type, the kitchen furniture and fixtures market is divided into furniture and fixture. The furniture segment is expected to expand at a significant growth rate during the forecast period. Rising consumer preference for innovative kitchen products and kitchen remodeling is boosting the segment.
New product launches by market players to enhance convenience of users are boosting the segment.
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For instance, in April 2023, IKEA launched a new collection of Nytillverkad furniture, which includes bedding, kitchen, and other accessories. It is expected to be available from July 2023 at stores.
The fixture segment is expected to register a considerable CAGR during the forecast period. Kitchen fixtures, including cooktop, sink, faucet, and refrigerators, help in organizing the kitchen. Fixtures help ensure aesthetic design and user-friendliness in the kitchen space.
Additionally, the increasing sale of kitchen appliances is further boosting the segment growth during the forecast period. Research shows that the retail sales of major kitchen appliances in the US were nearly USD 92.3 billion in 2022.
Material Segment Analysis
On the basis of material, the global market is segregated into wood, metal, and others. The metal segment is expected to dominate the market during the forecast period, owing to the large number of kitchen appliances used in households and for other activities.
Stainless steel is the majorly used kitchen appliance material due to its durability. The non-porous surface of steel protects it from bacteria and stains. The high resistance level of stainless steel to heat and rust is boosting the segment.
Distribution Channel Segment Analysis
In terms of distribution channel, the kitchen furniture and fixtures market is bifurcated into online and offline. The offline segment is expected to constitute a large market share during the forecast period. The offline retailers offer consumers to physically visit and check the products before purchasing them which is expected to drive the segment during the forecast period.
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According to a survey from the private label manufacturers association, Seven in ten product purchasers, purchase products once or twice a year. Among those 6% buy kitchen products every week and another 7% buy the products more than once a month. Thereby, boosting the segment growth.
The online segment is expected to expand at a significant growth rate during the forecast period, owing to the increasing number of people buying appliances from online stores. Growing social media influence and appealing deals on products online are the factors that manipulate users to buy products from online stores.
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In June 2023, The Pioneer Women, by Ree Drummond, launched a new category of indoor kitchen products at Walmart. It includes statement pieces for the kitchen and dining area, including kitchen chairs, dining room tables, and colorful bar stools.
End-user Segment Analysis
Based on end-user, the market is bifurcated into commercial and household. The commercial segment is expected to constitute a large market share during the forecast period. The integration of technology has created traction for the food industry. Commercial cooking equipment manufacturers nowadays are creating products with features for controlling them with the internet. The kitchen appliance industry is converting its focus to high-technology equipped products, owing to all these factors. This is attributed to boosting the segment during the forecast period.
The household segment is projected to expand at a significant growth rate during the forecast period. The segment growth is attributed to the growing demand for modular kitchen furniture in households. The rising number of people wanting to live in comfort and style is boosting the segment growth.
Regional Analysis
In terms of region, the global kitchen furniture and fixtures market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a large market share during the forecast period, owing to the growing disposable income and consumer lifestyle. The increasing preference for luxury furniture in real estate development projects for household and commercial uses boosts the regional market.
North America is expected to expand at a significant growth rate during the forecast period. Rising consumer preference is driving the demand for kitchen furniture and fixtures in the market. Various alternatives of kitchen furniture and fixtures have influenced consumers to purchase new items and thereby affected the retail stores in the region.
Segments
The kitchen furniture and fixtures market has been segmented on the basis of
Type
Material
Distribution Channel
End-user
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players operating in the global kitchen furniture and fixtures market include ALNO, Inc.; Standard Furniture; IKEA Systems B.V.; MasterBrand Cabinets, LLC; American Woodmark Corporation.; BOFFI S.P.A.; Bulthaup; Howden Joinery Ltd; Ballingslöv International AB; Cabico inc; Godrej Interio; Black Red White; and Goldenhome International Inc. These companies adopt development strategies, including production expansion, partnerships, collaboration, and product launches, to gain an edge over their competitors. For instance,
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In July 2023, Crate & Barrel disclosed its entry into the home renovation category with its first collection of kitchen and bathroom products. The new collection included kitchen islands, bathroom vanities, and hardware in a variety of high-design styles and finishes, launching alongside a lineup of best-in-class faucets and accessories by Kohler.
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In June 2022, REHAU, the leader in manufacturing polymer-based solutions, announced a collaboration with global brand TITUS to introduce fittings and furniture products. REHAU and TITUS are expected to engage to deliver an exclusive selection of hardware products to customers and manufacturers in India, including Connecting Fittings and Damping Solutions.
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