Kitchen Cabinets Market Analysis: Key Drivers, Competitive Landscape, and Future Outlook

The India kitchen cabinets market size was valued at USD 7.86 billion in 2023. The market is expected to expand from USD 8.53 billion in 2024 to USD 17.67 billion by 2032, exhibiting a CAGR of 9.52% over the study period.

Kitchen cabinets are utilized to store silverware, food products, dishes, and cooking equipment in the kitchen. The surging remodeling projects and the increasing number of residential homes are set to augment product demand, fueling the market growth. Moreover, the quickly expanding urbanization and population have resulted in a rise in the number of residential units, such as villas, individual homes, and apartments across India, leading to heightened demand for kitchen cupboards.

The market witnessed hindrances in its growth amid the COVID-19 pandemic, specifically in 2020, on account of lockdown implementation nationwide, resulting in an impact on the production and sales of the product coupled with the closure of retail stores and manufacturing plants temporarily. In addition, a decrease in demand for non-essential products and disruptions in construction activities further impeded market growth.

Fortune Business Insights™ provides this information in its research report, titled “India Kitchen Cabinets Market, 2024–2032”.

Information Source: https://www.fortunebusinessinsights.com/kitchen-cabinets-market-109890

Top Company in the Kitchen Cabinets Market

• Spacewood (India)
• HomeLane (India)
• Livespace (India)
• Blum (Austria)
• Hettich (Germany)
• Sleek International Pvt Ltd (India)
• Godrej Interio (India)
• Grass (Austria)
• Ebco (India)
• Panasonic (Japan)
• Tusker (India)
• Magppie (India)
• Hacker (Germany)
• KOXYGEN (India)
• nobilia-Werke J. Stickling GmbH & Co. KG (Germany)
• Inter IKEA Systems B.V (Netherlands)
• Oppein Home Group Inc (China)
• Hafele (Germany)
• Nolte (Germany)

Segmentation:

Ease of Availability of Wooden Closets to Foster the Segment Growth

In terms of materials, the market is segregated into plastic, metal, wood, glass, and others. The wood segment secured the largest share in 2023. Wooden closets are easily available in different colors, finishes, and designs, which surge product sales nationwide.

Stock Kitchen Cabinets Segment to Lead Owing to Ease of Accessibility

On the basis of category, the market is segmented into custom kitchen cabinets, stock kitchen cabinets, and semi-custom kitchen cabinets. The stock kitchen cabinets segment is anticipated to observe the largest India kitchen cabinets market share in the forthcoming years as stock kitchen cabinets incur low costs and offer easy accessibility.

Availability of Shaker Kitchen Cabinets in Different Designs to Impel Segment Growth

In terms of style, the market is classified into tall-standing kitchen cabinets, shaker kitchen cabinets, base kitchen cabinets, wall kitchen cabinets, flat panel kitchen cabinets, beaded kitchen cabinets, and others. The shaker kitchen cabinets segment occupied the largest share in 2023. The prevalence of shaker kitchen cabinets in the market and their availability in different designs contribute to the segment expansion.

Residential Segment to Lead Due to Evolution of Home Décor Trend

By application, the market is divided into residential and commercial. The residential segment is expected to capture the largest share during the forecast period. The evolution of renovation and home décor trends are poised to boost homeowners’ replacement rates of kitchen furniture while increasing product revenues.

Report Coverage

A detailed analysis of the competitive strategies deployed by top companies to outshine the competition has been mentioned in the report. Besides this, it provides comprehensive coverage of the COVID-19 pandemic impact, the top trends, and dominating segments. The report further offers vital insights into the key driving and restraining factors impacting the market growth.

Drivers and Restraints:

Growing Popularity of Modular Kitchens and Rising Expansion of Retail to Aid Market Growth

Due to rising urbanization, reduced living spaces, and changing lifestyles across metropolitan cities, such as Delhi, Bangalore, and Mumbai, the country is witnessing a significant rise in demand for modular kitchens (including I-shaped and U-shaped kitchens). The demand for the product is also impelled owing to the ease of installation and versatile nature of modular kitchens.

Despite such growth opportunities, the prohibitive cost of premium cupboards coupled with the strong presence of unorganized companies may hinder the India kitchen cabinets market growth.

Competitive Landscape:

Key Companies Focus on Opening New Stores to Surge Their Sales

The market is observing key players deploying a wide array of strategic moves. Some strategies include joint ventures, mergers, acquisitions, and partnerships. In addition, the inauguration of new stores at prime locations aids players in boosting their shares while increasing sales.

Key Industry Development:

February 2023: Ultrafresh, a prominent modular kitchen brand under TTK Prestige Limited, announced the opening of its new studio in Himachal Pradesh, India. The new studio has a geographical area of around 800 sq. ft. and features durable wooden storage cabinets.