Modular Kitchen Market Is Witnessing Robust Growth As Prism Johnson Ltd Partners With Nobilia To Inaugurate An Exclusive Experience Store In Pune, India

 

Modular Kitchen Market

Modular kitchen is one of the most sought-after and advanced design concepts. This is due to the fact that it is a cost-effective design concept, which is considered ideal for modern homes. The modular kitchen can also be called the trendy open-frame room furnishing design, consisting of modular modules of cabinets made from diverse materials that hold different accessories within, which may facilitate the efficient use of the space in an overfull room. Consumers are increasingly adopting modular kitchens due to their numerous benefits such as space-saving, efficiency, availability in different sizes, and others. 

This is typically due to the fact that the disposable income of consumers in both developed emerging economies has increased significantly over the years. According to the Organisation for Economic Co-operation and Development (OECD), in 2017, the gross adjusted disposable income in the U.S. was US$ 50,444 per capita increasing from US$ 45,960 per capita in 2014. Similarly, gross adjusted disposable income in Germany reached US$ 42,173 per capita in 2019, increasing from US$ 35,130 per capita in 2014. Such a significant rise in disposable income has improved purchasing power of consumers, which could further stimulate growth of the modular kitchen market.

Modular kitchen designs are highly in demand due to their benefits and features. The most important and prominent benefit is that it allows the user to save a lot of money on your remodeling or replacement expenses. The concept of a modular kitchen includes a wide range of appliances. The most common components included in a modular kitchen are cabinets, shelves, kitchen worktops, drawers, hobs or tops, sinks, thermostats, electrical points, and plug-in extensions. Consumers are increasingly demanding space-saving kitchen designs with efficient storage. The modular kitchen presents the most adequate solution, which could boost growth of the modular kitchen market in the near future.

The price of a Modular kitchen may vary, depending upon the various components and the layout chosen. The most popular types of layouts for a modular kitchen are the Island and the U-shaped ones. That being said, a modular kitchen is significantly expensive and since there is the volatility of its transportation cost, the demand for such kitchen layouts could get hindered. Hence, such factors can restrain growth of the modular kitchen market.

In terms of regions, Europe seems to gain significant traction in the modular kitchen market. This is due to the fact that there are major manufacturers offering a wide range of products across the region. Furthermore, there is been high demand from Eastern Europe, which could boost the regional market growth.

Recently, in January 2020, Prism Johnson Ltd., a provider of integrated lifestyle solutions, expanded its partnership with Nobilia, a manufacturer of modular kitchen, to inaugurate an exclusive experience store in Pune, Maharashtra, India. 

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