KITCHEN STORAGE ORGANIZATION MARKET ANALYSIS

Global kitchen storage organization market was valued at US$ 133.66 Bn in 2022 and is expected to reach US$ 191.17 Bn by 2030, exhibiting a CAGR of 4.57% over the forecast period (2023-2030).

Drivers:

Increasing consumer disposable income:

The benefits of kitchen storage organization and increasing consumer disposable income are the factors that are expected to drive market growth over the forecast period. Kitchen storage organization offers advantages such as it reduces clutter and thereby, making it easier to find items. It allows better utilization of kitchen space. Kitchen storage organization products are easy to clean and it improves cleanliness and hygiene in the kitchen by reducing clutter. In addition, a wide variety of inexpensive kitchen storage organization products such as racks, baskets, bins, boxes, and drawers are available in different materials such as plastic and metals and are easily available through offline and online distribution channels. Such advantages offered by kitchen storage organization products are expected to drive the growth of the global kitchen storage organization market.

Furthermore, increasing demand for household organization products, and increasing disposable household income are expected to fuel the growth of the global kitchen storage organization market. For instance, according to the Organization for Economic Co-operation and Development’s (OECD) data published in 2023, real household income per capita grew by 0.2% in the OECD in the third quarter of 2022, the first rise in real household income since the first quarter of 2021. Real GDP per capita grew by 0.3% in the third quarter of 2022

Restraints:

Increasing demand for do it yourself (DIY) kitchen products:

There is increasing demand for do it yourself (DIY) kitchen products, which are unique, creative, can be used as organizers, and can be replaced with kitchen storage organization products. This factor is expected to hinder the growth of the kitchen storage organization market over the forecast period.

Kitchen Storage Organization Market- Impact of Coronavirus (Covid-19) Pandemic:

COVID-19 can have an impact on the world economy have been by directly altering market dynamics, by breaking the market supply chain, and by having an economic impact on businesses and financial markets. However, market is growing now after COVID-19 pandemic.

Figure 1. Global Kitchen Storage Organization Market Share (%), By Region, 2022

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Europe has significant market share 35% in global kitchen storage organization market, followed by North America, Asia Pacific, Middle East, Latin America, and Africa.

Figure 2. Global Kitchen Storage Organization Market Share (%), By Application, 2022

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Plastic has a significant market share of 30% in the global kitchen storage organization market followed by metal, glass & crystal, wood, and others.

Recent Development:

In January 2022, Masterclass Kitchens a kitchen designer entered into a partnership with Now Kitchens. This partnership aimed to increase the sales of Masterclass Kitchens’ products by adding Masterclass Kitchens’ products to Now Kitchens’ product portfolio.

On April 18, 2023, Godrej Locks & Architectural Fittings and Systems are planning to launch new products and offerings in FY24.

In 2022, Newell Brands Inc.’s NWL Rubbermaid brand has come up with a new product, EasyFindLids, a food storage container. Notably, these are BPA-free, microwave-safe, freezer-safe.

Market Players:

Key players operating in the market include 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

*Definition: Kitchen storage organization products include cabinet organizers/drawer organizers, food storage, pantry organizers, sink & under sink, dinnerware & serving storage, and others. These kitchen storage organization products save time and effort while organizing and storing food, preparing meals in the kitchen, and providing suitable space-saving solutions.