The kitchen storage organization market is anticipated to witness high growth owing to the rise in home renovation projects. Kitchen storage organization solutions help maximize the use of kitchen space and keep items organized. The growing trend of modern interiors and need for easy access to kitchen storage have boosted the demand for storage units like cabinets, drawers, organizers and racks.
The global kitchen storage organization market is estimated to be valued at US$ 161.02 billion in 2024 and is expected to exhibit a CAGR of 9.1% over the forecast period of 2024 to 2030.
Key Takeaways
Key players operating in the Kitchen Storage Organization Market Share are Burcon Nutrascience, Cosucra Groupe Warcoing, Nutri Pea Limited, Sotexpro, Roquette Freres, Glanbia Plc., Fenchem Biotek Ltd., Prinova Group LLC, and Yantai Shuangta Food Co. These players are focusing on new product launches and partnerships to strengthen their market position.
There are numerous opportunities for market expansion in the growing home and kitchen accessories industry. The rising spending on home renovation and interior designing presents lucrative opportunities for shelf and cabinet manufacturers. Furthermore, the increasing demand for multi-functional and space-saving kitchen storage solutions from households with limited space offers growth prospects.
Kitchen storage organization brands are targeting global markets through strategic acquisitions and collaborations with local players. Many Western brands are setting up manufacturing units in Asia to cater to the growing demand. Additionally, private label brands available at affordable price points are positively impacting the market growth, especially in developing regions.
Market Drivers
– Rising number of home renovation projects and growing trend of modern kitchens have fueled the demand for kitchen storage solutions. Redesigned, well-organized kitchens with adequate storage boost home value.
Market Restraints
– High costs of imported and premium kitchen organization products limit their adoption in price-sensitive markets. Alternative local brands providing low-cost products have gained popularity in developing regions.
Segment Analysis
The kitchen storage organization market can be segmented into cabinets, racks and dishes. Cabinets dominate the market as they provide extensive storage space in an organized manner. Cabinets come in various sizes, styles and designs to cater to different kitchen sizes and user needs. Their closed doors and drawers help keep items hidden from sight for a clutter-free kitchen environment.
Global Analysis
Regionally, North America dominates the kitchen storage organization market currently. This is because of the large number of homeowners undertaking renovation and remodeling activities in countries like the US and Canada. Also, the focus on efficient use of space in kitchens drives the need for optimized storage solutions. Asia Pacific is expected to be the fastest growing regional market during the forecast period. Rapid urbanization and rising disposable incomes in developing nations such as China and India will boost residential construction and subsequently, demand for kitchen organizational products. Changes in lifestyles and busy consumer schedules also raise the importance of smart storage options.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it