The global Kitchen Storage Organization Market was valued at US$ 133.66 Billion in 2022, according to Kitchen Storage Organization Market Report, by Product Type (Cabinet Organizers/Drawer Organizers, Food Storage, Pantry Organizers, Sink & Under Sink, Dinnerware & Serving Storage and Others), Material Type (Plastic, Metal, Glass & Crystal, Wood, and Others), by End Use (Residential and Commercial), By Price Range (Premium, Medium, and Low), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) published by Coherent Market Insights
Definition of Market/Industry:
Kitchen storage organization market consists of numerous products such as dinnerware & serving storage, cabinet organizers/drawer organizers, food storage containers, and others, which are available in different material types such as metal, plastic, glass & crystals, and others. These products assist in organizing the kitchen to avoid clutter in the kitchen.
Statistics:
Global kitchen storage organization market was valued at US$ 133.66 Billion in 2022 and is expected to reach US$ 191.17 Billion by 2030, exhibiting a CAGR of 4.57% during 2023-2030.
Drivers:
Rapid urbanization has led to rising construction and infrastructure activities across the globe. For instance, according to the United Nations' World Urbanization Prospects 2022, 55% of the world population currently lives in urban areas, which is expected to increase to 68% in 2050. The increasing population globally could add another 2.5 billion people to urban areas by 2050, wherein Asia Pacific is expected to account for around 70% of this increase.
Market Restraints
The quality and durability of kitchen storage organizers depend on the quality of the materials used in manufacturing kitchen storage organization products. Furthermore, high-quality kitchen storage organization products can be expensive. Many kitchen storage organization products have no or very low warranty periods. These factors, in turn, are expected to restrain the growth of the kitchen storage organization market, globally.
Moreover, the price of raw materials such as plastic, stainless steel, and others, which are used in manufacturing kitchen storage organization products, are volatile. Fluctuating raw material price is expected to hinder the growth of the global kitchen storage organization market over the forecast period.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/kitchen-storage-organization-market-3333
Key Takeaways:
Among product type, cabinet organizers/drawer organizers segment has significant market share. This is attributed to rising technologically advanced cabinet organizers/drawer organizers by key players in the global market. For instance, Rev-A-Shelf offers a base cabinet pullout for the kitchen with an electro-servo drive system. This system enables the cabinet unit to open by tapping the cabinet door.
Market Trends
- Rising development of innovative products by key players is expected to propel the market growth. For instance, in May 2022, The Home Edit, a service provider of organizing homes, launched a range of organization products including kitchen organization products such as pantry canisters, three-tier shelves, and 2-tier lazy susan among others.
Competitive Section:
Major players operating in the market include 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
Inter IKEA Systems B.V.
- In 2022, Ingka Group, formerly known as IKEA Group, which is the largest IKEA franchisee with 367 IKEA stores in 30 markets, entered into an agreement to acquire 49% shares of Traemand, a U.S.-based kitchen service company. This agreement aims to expand the kitchen products & services of Traemand and strengthen IKEA customer service.
