Kitchen Storage Organization Market is Estimated To High Growth
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| Kitchen Storage Organization Market |
The
kitchen storage organization market is estimated to be valued at US$ 133.66 Billion in 2022 and is
expected to exhibit a CAGR of 4.57%
over the forecast period 2022-2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
The kitchen storage organization market comprises products that helps
organizing the kitchen storage space efficiently. This includes cabinets,
drawers, racks, shelves, and organizers made from different materials like
wood, metal, plastic etc. These storage solutions allow maximizing usable
space, keeps things properly arranged and visible for quick access. This has
made kitchen storage organization an integral part of modern kitchens.
Market key trends:
One of the key trends driving the kitchen storage organization market is the
rising consumer preference for space-saving and efficiently designed storage
solutions. With changing lifestyles and busy schedules, people are looking for
storage products that helps maximize usable space and keep things organized.
Modern storage accessories allows vertical and horizontal storage which
utilizes otherwise empty walls and spaces. Products like sliding racks,
pull-out shelves, rotatable containers are becoming popular. There is also a
rise in customization with consumers demanding tailored storage as per the
dimensions and requirements of their kitchen space. Progress in material
technology is allowing development of durable, flexible and multi-functional
storage organizers. Increased focus on aesthetics is resulting in innovative
designs attracting consumers.
Porter’s Analysis
Threat of new entrants: Low capital required for starting kitchen storage
organization solutions limits the threat of new entrants. However, established
brands have strong supply chain and customer base.
Bargaining power of buyers: Buyers have high bargaining power due to
availability of substitutes. Buyers can easily switch to other organized brands
offering competitive prices and features.
Bargaining power of suppliers: Suppliers have low bargaining power as raw
materials used in kitchen storage products such as metal, wood, and plastics
are easily available.
Threat of new substitutes: Substitute products like DIY organizers pose low
threat due to lack of standardization and customization.
Competitive rivalry: High due to presence of numerous global and regional
players competing on pricing and innovation.
SWOT Analysis
Strength: Global presence of key brands and a wide variety of products tailored
to meet diverse consumer demand. Innovation in designs catering to small,
medium & large kitchens.
Weakness: Heavy reliance on certain key markets. Rising input costs and Kitchen
Storage Organization Market slowdown may dent profitability. Vulnerable
to economic cycles.
Opportunity: Growth in nuclear families and home remodeling/renovation market
especially in emerging nations. Adoption of omnichannel strategies to enhance
reach.
Threats: Trade protectionism and geo-political tensions impact supply chain.
Growing environmental concerns around non-biodegradable plastics used in
manufactured organizers.
Key Takeaways
The global kitchen storage organization market is expected to witness high
growth, exhibiting CAGR of 4.57% over
the forecast period, due to increasing number of households globally along with
rising demand for smart storage solutions catering to modern lifestyles.
Regionally, North America dominates the global market, accounting for over 35%
share in 2022. Rapid growth of the DIY home improvement trend especially in the
US is expected to aid market expansion in the region. Asia Pacific registers
fastest growth rate, fueled by burgeoning middle class population, changing
eating habits, and demand for space optimization in small kitchens across India
and China.
Key players operating in the kitchen storage organization market are Kitchen
Magic, Rev-A-Shelf, Knape & Vogt Manufacturing Company, Enclume Design
Products, Kesseböhmer Clever Storage, ShelfGenie Franchise Systems, LLC, Old
Dutch International, Anchor Hocking, LLC, Blum Australia Pty Ltd, Inter IKEA
Systems B.V., Flywell International Corp, Masterclass Kitchens, and Others.
Major players are focused on developing storage cabinets with customizable
shelves, rollout racks, and interlinking units tailored for convenience.
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