|
Forecast Period
|
2025-2029
|
|
Market Size (2023)
|
USD3.5 Billion
|
|
CAGR (2023-2028)
|
24.12%
|
|
Fastest Growing Segment
|
Non-Retail
|
|
Largest Market
|
North India
|
India Modular Kitchen Market is
growing at a robust rate, owing to the growth of residential
construction, increasing awareness of home designs and aesthetics, rising
demand of modular kitchen from hospitality and food industry, and launch of a variety
of designs of modular kitchen.
India Modular Kitchen Market Scope
A modular kitchen is a type
of kitchen that is constructed using pre-made cabinet parts, designed to fit
together in a variety of configurations to meet the specific needs of
homeowner. This type of kitchen design typically includes standard-sized cabinet
units that can be arranged in various layouts to maximize the use of available
space. These cabinets are often made from materials like wood, laminate, or
metal, and come in a range of designs, colors, and styles to match different
interior design themes. Modular kitchens can be customized with a range of
accessories and appliances to meet the needs of the customers and can be easily
disassembled and moved if required, which is one of their significant
advantages.
India Modular Kitchen Market Overview
Along with being one of the
fastest growing economies in the world, Indian market has seen expansion
in every sector, including the kitchen and kitchenware industry. In fact,
the Indian kitchen industry is one of the fastest-growing industries in India, driven
by an increase in the popularity of modular kitchens.
Currently the market is
dominated by unorganized players that include both local vendors and
well-established brands. The modular kitchen market in India has
been growing at a rapid pace in recent years due to the increasing demand for
modern, convenient, and efficient kitchen solutions. Over time, kitchen designs
have changed, and modular kitchens have become a popular option for homeowners
all over the world. Modern homes frequently feature modular kitchen designs
since they can easily match the interior decor of the entire house. The
installation is hassle-free when using pre-made modular modules. The growth of
the modular kitchen market in India can be attributed to several factors, real
estate development, availability of customization option, growth of residential
construction, changing lifestyles, and launching of various designs of modular
kitchen. The growing trend of open-plan living spaces and the rise in apartment
and flat construction are also driving the demand for modular kitchen in India.
India Modular Kitchen Market Drivers
There has been a significant
rise in the residential construction sector in India over the past few years.
This growth can be attributed to several factors, including growing population,
urbanization, and government initiatives such as the Pradhan Mantri Awas Yojana
(PMAY) and the Smart Cities Mission. The (Pradhan Mantri Awas
Yojana) PMAY, for instance, aims to provide affordable housing to the poor and
has led to the construction of millions of new homes across the country. The
Smart Cities Mission, on the other hand, aims to transform Indian cities into
more livable and sustainable spaces by improving infrastructure and enhancing
quality of life. Additionally, consumers who are moving
into new spaces and remodeling older ones prefer modular kitchen solutions,
which may support the modular kitchen industry. Therefore, rising rate of construction
in residential sector and renovation activities in India is anticipated to
support the India modular kitchen market.