Market Trends of Asia-Pacific Modular Kitchen Industry
Smart Utilization of Space Drives the Growth of the Modular Kitchen
The Kitchen and Kitchenware industry in India is witnessing growth coupled with the fast pace of growth of the Indian economy. The kitchen market is one of the fastest-growing sectors with rising demand for Modular kitchens.
The modular kitchen segment has grown due to India's growing middle class, smaller households, changing consumer preferences, high demand for quality products and services, and consumers' preference for contemporary design and comfort. One of the most important aspects to take into account when designing your home is the smart use of your space, especially in the kitchen, which is used for an average of 8 to 10 hours per day in India. The integration of the storage space will ensure that your kitchen looks neat and clutter-free. This can only be achieved through the use of smart modular kitchen designs.
With the ever-changing needs of the kitchen and the ease of integration of technology, there is always a constant flow of new kitchen designs to keep up with the changing preferences of the customers. Nowadays, modular kitchens come with built-in hobs, built-in ovens, built-in coffee machines, and so on. Smart kitchen technology not only enhances the convenience of the kitchen but also helps in saving resources in all aspects.
Branded quality products are demanded for the construction of modular kitchens in the country. More than 80% of investments in modular kitchens come from Tier-1 Cities such as Delhi, Mumbai, Bangalore, Pune, Chennai, Hyderabad, and Calcutta.
Growing Population to Drive the Demand of Modular Kitchens in Asia-Pacific
The population is growing in the Asia-Pacific region and is projected to grow in the future. Due to the traditional home concept in most Asia-Pacific countries, including India and China, people like to cook at home. Eating and cooking are very precious to people in this region. Therefore, it is expected that people would look for renovating kitchens as per their needs or invest in long-term kitchens. Modular kitchen designs are expected to be in demand when people want to meet their kitchen needs by renovating a portion of the kitchen. The growing population, along with the ease and convenience of modular kitchen designs, is expected to propel the demand in the Asia-Pacific region.
The Asia-Pacific modular kitchen market is booming due to the growing need of consumers for space-saving, efficient storage and the growing preference for charcoal grey interiors, champagne interiors, and cream interiors. In addition, with purchasing power parity in most regions, consumers are spending more on products that make their daily household tasks easier.
Consumers' disposable income is on the rise, and with it, the demand for luxury products like modular kitchens is on the rise. Growth of smart homes around the world advances in kitchen technology Rapid growth in the residential construction industry. The modular kitchen market is being driven by automation.
For example, in May of 2021, the modular outdoor kitchen company RTA Outdoor Living introduced a new system called MOKS (Modular Outdoor Kitchen System). This system allows customers to select designs and place the ready-built outdoor kitchens on the premises. Consumers' preference for convenient and customizable kitchens with a wide range of design options is one of the main factors driving the market growth of modular kitchens. More and more people are moving to cities, and with that, there's a growing demand for modular kitchen, which is often considered a luxury item in cities.
