The India kitchen cabinets market, valued at USD 7.86 billion in 2023, is projected to grow from USD 8.53 billion in 2024 to USD 17.67 billion by 2032. This growth represents a compound annual growth rate (CAGR) of 9.52% throughout the forecast period.
Kitchen cabinets are essential for storing silverware, food items, dishes, and cooking tools. The growing number of remodeling projects and the increasing residential housing sector are driving up demand for these products, contributing to market expansion. Additionally, rapid urbanization and population growth in India have led to a rise in residential units, such as villas, individual homes, and apartments, further boosting the demand for kitchen cabinets.
However, the market faced challenges during the COVID-19 pandemic, particularly in 2020. Nationwide lockdowns disrupted production and sales, and the temporary closure of retail stores and manufacturing facilities hindered market growth. Moreover, a decline in demand for non-essential products and interruptions in construction activities further affected the market.
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
Segmentation:
Wooden Closets to Drive Segment Growth
The market is divided by materials into plastic, metal, wood, glass, and other categories. In 2023, the wood segment held the largest share due to the widespread availability of wooden closets in various colors, finishes, and designs, which drives national sales.
Stock Kitchen Cabinets to Dominate Due to Accessibility
By category, the market is segmented into custom kitchen cabinets, stock kitchen cabinets, and semi-custom kitchen cabinets. The stock kitchen cabinets segment is expected to lead the market in the coming years, as these cabinets are cost-effective and readily accessible.
Shaker Kitchen Cabinets to Propel Segment Growth
In terms of style, the market includes 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 had the largest share in 2023, driven by their popularity and the variety of designs available, which fuels segment expansion.
Residential Segment to Lead Amid Home Décor Trends
The market is categorized by application into residential and commercial uses. The residential segment is projected to capture the largest share during the forecast period, as evolving renovation and home décor trends increase the replacement rate of kitchen furniture among homeowners, thereby boosting product revenues.
Top Leading Company in the Kitchen Cabinet 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)
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:
Rising Demand for Modular Kitchens and Retail Expansion to Boost Market Growth
Increasing urbanization, shrinking living spaces, and evolving lifestyles in metropolitan cities like Delhi, Bangalore, and Mumbai are driving the demand for modular kitchens, including I-shaped and U-shaped designs. The popularity of modular kitchens is fueled by their ease of installation and versatile features.
However, the high cost of premium cupboards and the strong presence of unorganized companies could pose challenges to the growth of the India kitchen cabinets market.
Competitive Landscape:
Key Players Focus on Expanding Store Networks to Drive Sales
The market is witnessing significant strategic activity from key players, including joint ventures, mergers, acquisitions, and partnerships. Additionally, opening new stores in prime locations is a key strategy for boosting market share and 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.