The Kitchen Cabinet Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Kitchen Cabinet Global Market Report 2024, The kitchen cabinet market size has grown strongly in recent years. It will grow from $144.51 billion in 2023 to $156.35 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to housing boom, traditional design trends, economic stability, material preferences, limited customization, functional considerations.
The kitchen cabinet market size is expected to see strong growth in the next few years. It will grow to $210.12 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to modern design trends, renovation and remodeling trends, customization and personalization, material innovation, smart kitchen integration. Major trends in the forecast period include digitalization and e-commerce, smart and integrated solutions, sustainable materials and eco-friendly designs, customization and modular designs, color and design trends, online purchases and virtual showrooms.
Increasing construction of residential buildings is expected to propel the growth of the kitchen cabinet market going forward. Residential buildings comprise all structures designed for private occupancy, whether permanent or temporary, equipped with the amenities and utilities needed to meet the needs of an individual or family. Kitchen cabinets are frequently needed to store a variety of products such as store equipment, cookbooks, and baking and cooking supplies in residential buildings. For instance, in March 2023, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development published statistics, privately owned home completions were at a seasonally adjusted annual rate of 1,557,00 in February. This is 12.2% (±15.0%) higher than the revised January estimate of 1,388,000 and 12.8% (±16.2%) higher than the February 2022 rate of 1,380,000. Therefore, the increasing construction of residential buildings is driving the growth of the kitchen cabinet market.
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The kitchen cabinet market covered in this report is segmented –
1) By Type: Ready To Assemble (RTA), Stock Kitchen Cabinets, Semi Custom Kitchen Cabinets, Custom Kitchen Cabinets
2) By Raw Material: Wood, Metal, Other Raw Materials
3) By Distribution Channel: Retail, Online, Other Distribution Channels
4) By Application: Home, Restaurants, Other Applications
Major companies operating in the kitchen cabinet market are developing new products such as advanced cabinetry solutions to gain a competitive edge in the market. Cabinetry solutions refer to a comprehensive range of products and services related to the design, manufacturing, and installation of cabinets. For instance, in December 2022, Stanley Group, an India-based furniture and home decor products company launched cabinetry cult. The product is made with the ideal fusion of French carpentry methods, Italian design sensibility, German precision manufacturing, and Italian craftsmanship. The goal of cabinetry cult’s debut is to increase the product offering of Stanley Group and meet the rising demand for superior, bespoke cabinetry solutions in a range of contexts. With products for a variety of uses, such as walk-in wardrobes, wardrobes, and kitchens, the cabinetry cult line provides clients with an extensive solution for their cabinetry requirements.
The kitchen cabinet market report table of contents includes:
1. Executive Summary
2. Kitchen Cabinet Market Characteristics
3. Kitchen Cabinet Market Trends And Strategies
4. Kitchen Cabinet Market – Macro Economic Scenario
5. Global Kitchen Cabinet Market Size and Growth
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31. Kitchen Cabinet Market Other Major And Innovative Companies
32. Global Kitchen Cabinet Market Competitive Benchmarking
33. Global Kitchen Cabinet Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Kitchen Cabinet Market
35. Kitchen Cabinet Market Future Outlook and Potential Analysis
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