The Modular Kitchen Market in India is expected to reaching $ 862 million by 2024

 Consumer the desire for space-saving, efficient storage that maximizes the use of limited spaces is predicted to increase, boosting product demand. In the limited area, these kitchen setups enable convenient and effective storage for basic kitchen commodities such as utensils, appliances, and foodstuffs. Consumers have been moving away from the traditional all-white kitchen décor in favor of hues that are neither too light nor too dark in recent years. Colors like charcoal grey, champagne, and cream are becoming increasingly trendy in modern homes. Red is also being used by customers to improve the aesthetic of their kitchens. Consumers enjoy two-toned cabinet shutters and joint-free surfaces, so the open kitchen is gaining a lot of traction in the home.

In 2018, the worldwide modular kitchen market was worth USD 19.26 billion. The residential building industry's rapid expansion is likely to be a major market driver.

The modular kitchen market in India was valued at $ 206 million in 2018 and is expected to increase at a CAGR of over 27% from 2019 to 2024, reaching $ 862 million by 2024.

By 2018, the majority of married people all over the world were choosing modular kitchens. Similarly, consumers between the ages of 35 and 44 made for the majority of the market, followed by those between the ages of 25 and 34. On a global scale, the growing number of nuclear families has spurred the desire for space-saving, efficient furniture.

In developing nations such as India, Brazil, and China, raising concerns about sanitation and the use of numerous appliances are driving market expansion. Furthermore, as the number of organized retail chains in these nations grows, so does brand awareness in these countries. Due to its clutter-free environment, India is seeing a big increase in demand for European-style products.

In 2018, the floor cabinet segment dominated the market, accounting for more than 60% of global revenue. Because of their durable and strong surfaces, these goods are a crucial feature of any kitchen. Additionally, floor product forms provide storage and organization for daily necessities. From 2019 to 2025, the tall storage products category is predicted to grow at the quickest rate, with a CAGR of more than 6%.

The demand for storage is expected to rise as the ability to store large quantities of food products improves. These cabinets are also known as utility cabinets since they may hold a variety of objects, such as electronics and crockery. Furthermore, the product's vertical appearance has been drawing customers.

In 2018, wood goods dominated the modular kitchen market, accounting for more than 40% of global revenue. This is the most typical material for kitchen cabinets, and it may be lacquered or stained in a variety of colors to meet the needs of customers. Because of the textures of the wood's surface, it provides the pantry a natural aesthetic that goes with most interior designs. From 2019 to 2025, the fiber/plastic material market is estimated to grow at a CAGR of 6.7 percent. PVC or Poly-Vinyl Chloride sheets have grown in popularity in recent years because of their strength, waterproofing, termite resistance, and oil resistance. These sheets, which are constructed of plastic composites and come in a variety of colors, are highly robust. Furthermore, because it is simple to install, this sort of material is less expensive than other materials. As a result, the material is expected to see a continuous increase in demand shortly, particularly among the middle-class population.

In 2018, Europe dominated the market, accounting for more than 30% of global revenue. The presence of significant manufacturers with a diverse product offering is expected to fuel growth. In terms of both production and consumption, Germany, the United Kingdom, Italy, Poland, and France are the most important regional markets. Eastern countries, on the other hand, are predicted to rise significantly.

From 2019 to 2025, Asia Pacific is predicted to have the highest CAGR of more than 10%. Rapid urbanization, as well as the construction industry's rapid rise in nations such as India, China, Japan, Malaysia, and Indonesia, is a crucial driver of growth. To meet the increased regional product demand, worldwide brands are expanding their operations in this region.