by The global Kitchen Storage Organization Market is estimated to be valued at US$ 139.77 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The kitchen storage organization market comprises products used to organize and store kitchen essentials in an efficient manner. This includes cabinets, drawers, pantry systems, kitchen islands, utensil holders, and shelf organizers among others. These storage solutions help maximize space utilization and keep kitchen items organized. They provide easy access to cooking essentials and help maintain hygiene in the kitchen. With rapid urbanization and changing lifestyle trends, efficient kitchen storage is gaining importance for streamlining daily cooking activities.
Market key trends:
One of the key trends in the kitchen storage organization market is the rising popularity of multifunctional and customizable storage solutions. Manufacturers are innovating products with modular designs, adjustable shelves, and dividers to accommodate items of varying sizes. This allows customers to configure the storage as per their utility and space. There is also a growing demand for space-saving vertical storage systems like wall mounted racks and pull-out organizers. Their compact design enables storing more within limited counter space. Furthermore, the introduction of smart interior materials that are fingerprint and stain-resistant has boosted product appeal. Technologies such as self-closing drawer mechanisms are further enhancing user convenience.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low for the kitchen storage organization market as it requires high initial investments to set up manufacturing units and attain economies of scale. It also requires brand building efforts.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established players operating in the kitchen storage organization market providing a large variety of products at varying price points. However, switching costs for buyers are low.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials used for manufacturing kitchen storage organization products such as wood, steel, plastics are commoditized in nature and sourced from many suppliers.
Threat of new substitutes: The threat of new substitutes is moderate as there are few product substitutes available for kitchen storage solutions such as open shelving system, drawers, and cabinets.
Competitive rivalry: The competitive rivalry is high due to presence of numerous regional and international players operating in the kitchen storage organization market.
Key Takeaways
The global Kitchen Storage Organization Market Size is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period of 2023 to 2030, due to increasing construction activities globally.
Regional analysis: North America is expected to dominate the kitchen storage organization market during the forecast period. The growth in this region can be attributed to increasing renovation and remodeling activities of residential and commercial kitchens. Asia Pacific is expected to exhibit the fastest growth during the forecast period with China and India being the major markets.
Key players: Key players operating in the kitchen storage organization market are 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. Knape & Vogt Manufacturing Company offers wide range of wooden kitchen cabinetry and organization products.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
