Product Code: ETC372324 | Publication Date: Aug 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India modular kitchen market import shipment demonstrated a notable slowdown with a CAGR of -10.1% from 2020 to 2024. The growth rate between 2023 and 2024 further declined by -14.1%, signifying a continuous deceleration in market expansion over the years.
The India modular kitchen market size stood at USD 3 billion and is predicted to expand at a compound annual growth rate (CAGR)of 5.3% owing surging discretionary income level along with changing lifestyle patterns amongst Indias that contribute towards fuelling upmarket trends related specifically toward interior decorating activities such as installation of modular kitchen sets within households which provide greater flexibility so far design perspective while allowing maximum utilization space management features provided through embedded components including cupboards drawers shelves among others thereby gaining attention from homeowners willing upgrade existing cooking spaces into modernized setups having advanced functionalities backed by sleek looks aesthetics appeal furthermore presence wide range aesthetic options available regarding colours materials finishes further increases its adoption rates amongst consumers alongside availability made customization services pertaining individual needs allows users accrue desired results pertaining particular requirements hence propelling overall segmental outlook forward.
The India modular kitchen market has experienced significant growth in recent years, primarily driven by changing consumer lifestyles, urbanization, and an increasing number of residential construction projects. The demand for efficient and space-saving kitchen solutions, coupled with a rising middle-class population`s disposable income, has been a major driver for the market.
The India market for modular kitchens has experienced significant growth over the past few years, driven by increasing urbanization, changing lifestyle preferences, and a rise in disposable income. However, the industry also faces several challenges. One of the major challenges is the high cost associated with installing a modular kitchen. Many consumers find the initial investment prohibitive, limiting the adoption of these modern kitchen solutions, especially in lower-income segments.
The India modular kitchen market experienced significant disruptions due to the COVID-19 pandemic. As lockdown measures were imposed, manufacturing and supply chains were severely impacted, leading to delays in project completions and product deliveries. Additionally, reduced consumer spending and uncertainty about the economic situation affected demand for modular kitchen installations.
In the India modular kitchen market, some key players include Sleek International Pvt Ltd, Godrej & Boyce Mfg. Co. Ltd, Hafele India Pvt Ltd, and Johnson Kitchens.