India Modular Kitchen Market to Grow at 27% CAGR through 2024
Rising
purchasing power, improving lifestyle, increasing number of residential
construction projects, and growing number of partnerships between real estate
project developers and modular kitchen manufacturers to drive India modular
kitchen market through 2024
According to TechSci
Research report, “India Modular Kitchen Market By
Design, By Product Type, By Sales Category, Competition, Forecast &
Opportunities, 2014 – 2024”, modular kitchen market in India is projected to grow
at a CAGR of 27% during the forecast period (2019-2024).
Kitchens are certainly getting a lot more recognition in the home improvement
category to enhance both its functionality and decor. Be it homemakers or
working professionals, restructuring and remodeling the kitchen to a more
appealing one has recently become a huge trend. Over the last few years, kitchen industry in
India witnessed an inclination towards modern designs and comfort. Amid Indian
consumers, kitchen is no longer perceived as a separate entity, but an often
space for socializing, relaxation and imaginativeness. With consumers
showcasing willingness to experiment with design, textures and naïve color
combinations, manufacturers have been set free to offer consumers with world
class products. Consumers are increasingly looking at premium designs and
features such as magic corners and kitchen island concepts to add more luxury
touch to the cooking space.
Browse 5 market data Tables
and 26 Figures spread through 76
Pages and an in-depth TOC on "India
Modular Kitchen Market"
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Growing number of
partnerships between real estate project developers and modular kitchen
manufacturers, in addition to rising purchasing power, improving lifestyle and increasing
number of residential construction projects are expected to push sales of
modular kitchens in coming years. Livespace is one of the leading players in
the online platform offering modular kitchen accessories. Launching its
exclusive Modular Kitchen business segment in December 2015, the company partnered
with Brand Capital in October 2018, the strategic investment arm of The Times
Group, and was able to create a strong brand presence. Hettich India Private Limited,
Godrej & Boyce Manufacturing
Company Limited, Magppie Retail Limited, Hafele India Private Limited and Sleek
International Private Limited are some of the leading players in India modular
kitchen industry.
“Indian modular kitchen manufacturers offer spectacular
range of products focused largely towards a reputed establishment of modular
kitchens in urban India. A defined price range of project execution also acts
as a factor for the increasing popularity of modular kitchen concept. Almost
70% of the players in the industry are making modular kitchens in this price
range. Surging number of working female professionals in India is also expected
to positively impact the country’s modular kitchen market in coming years.”,
said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
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“India Modular
Kitchen Market By Design, By Product Type, By Sales Category, Competition,
Forecast & Opportunities, 2014 – 2024” has evaluated the future growth
potential of modular kitchen market in India and provides statistics and
information on market structure, size, share and future growth. The report is
intended to provide cutting-edge market intelligence and help decision makers
to take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities present in India modular kitchen Market.
About TechSci Research
TechSci
Research is a leading global market research firm publishing premium market
research reports. Serving 700 global clients with more than 600 premium market
research studies, TechSci Research is serving clients across 11 different
industrial verticals. TechSci Research specializes in research-based consulting
assignments in high growth and emerging markets, leading technologies and niche
applications. Our workforce of more than 100 fulltime Analysts and Consultants
employing innovative research solutions and tracking global and country
specific high growth markets helps TechSci clients to lead rather than follow
market trends.
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