by The 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 offers products like cabinets, racks, hooks, drawer organizers, pull-out organizers and other accessories that help in organizing kitchen utensils, appliances, pots, pans, dishes and other items in an efficient manner. These storage organization products help save space in the kitchen while keeping everything organized. Their demand has increased in recent years due to rising consumer preference for well-organized kitchens.
Market Dynamics:
One of the major drivers for the growth of kitchen storage organization market is the rising remodeling and renovation activities of kitchens globally. Consumers are spending more on transforming their kitchen spaces into efficient and aesthetically appealing areas. This is increasing the demand for various storage organization products. Moreover, changing lifestyles and busy schedules have prompted people to organize their kitchen properly in order to save time while cooking or accessing items. Proper organization using mesh racks, pull-out drawers and other accessories help in quick retrieval of items and hence drive their sales.
Segment Analysis
The kitchen storage organization market can be segmented into containers, pull-out organizers, spice racks, and others. Containers are the dominating sub-segment owing to high demand for neatly stacking items such as plates, cups, glasses, and food containers in cabinets and pantries. Containers provide efficient use of vertical space and keep items organized.
PEST Analysis
Political: No major political factors affecting the kitchen storage organization market.
Economic: Rising disposable incomes and increasing home improvement expenditures are driving demand for expensive yet efficient kitchen storage solutions.
Social:Growing desire to achieve aesthetic appeal and organizing kitchen spaces is boosting market growth. Social media influence for neat and aesthetically pleasing kitchens is also propelling demand.
Technological: Adoption of smart and motion sensor lighting to easily find stored items is gaining popularity. Some manufacturers offer modular designs allowing reconfiguration of storage spaces.
Key Takeaways
The global Kitchen Storage Organization Market Size is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing urbanization and desire for efficient use of kitchen space. The market size for 2023 is estimated to be US$ 139.77 Mn.
Regional analysis: Asia Pacific holds the major share in the global kitchen storage organization market and is expected to grow at the fastest CAGR during the forecast period. Rising middle-class population along with increasing home remodeling activities in China and India is propelling demand.
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. These players are focusing on offering innovative and customizable storage solutions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
