Kitchen storage organization market size, trends, shares, insights and forecast 2027

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2. KITCHEN STORAGE ORGANIZATION MARKET ANALYSIS(2019-2027) Kitchen Storage Organization Market Report, by Product Type ( Cabinet Organizers/Drawer Organizers, Food Storage, Pantry Organizers, Sink & Under Sink, Dinnerware & Serving Storage and Others), Material Type (Plastic, Metal, Glass & Crystal, Wood and Others), by End Use (Residential and Commercial), By Price Range (Premium, Medium and Low), and by Region (North America, South America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

3. Kitchen Storage Organization Market: Insights • Definition of Market/Industry: • Kitchen storage organization products includes cabinet organizers/drawer organizers, food storage, pantry organizers, sink & under sink, dinnerware & serving storage, and others. These kitchen storage organization products saves time and efforts while organizing and storing food, preparing meals in the kitchen, and provide suitable space-saving solutions. • Statistics: • Global kitchen storage organization market was valued at US$ 115,695.7 Mn in 2018 and is expected to reach US$ 154,969.5 Mn by 2027, exhibiting a CAGR of 3.3% over the forecast period (2019-2027). • Drivers: • Benefits of kitchen storage organization and increasing consumer disposable income are the factors that are expected to drive the market growth over the forecast period. Kitchen storage organization offers advantages such as it reduces clutter and thereby, makes 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, 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 growth of the global kitchen storage organization market.

4. Regionally, Asia-pacific dominated the global chloroacetyl chloride market in 2018, reporting 39.5% market share in terms of revenue, followed by Latin America and North America, respectively • Market Restraints • Growing adoption of biodegradable herbicides in agrochemical industry is a prime factor expected to hinder the market growth of chloroacetyl chloride. Rising concern over environment sustainability due to growing cases of soil erosion and water pollution which ultimately leads to the degradation of land and water. Due to this various organization are is further anticipated to restrict the usage of herbicide in the agrochemical industry, which in turn hampering the market growth of chloroacetyl chloride. • Ban of pesticide in Europe due to rising concern over the environment is expected to hinder the market growth of Chloroacetyl chloride. For instance, in March 2019, the EU bans UK's most-used pesticide over health and environmental concern. European Union will ban the most-commonly used pesticides after safety officials reported human health and environmental concerns. Hence, the ban of pesticide in Europe is expected to negatively affect the market growth chloroacetyl chloride. • Market Opportunities • Rising demand for acids anhydrides that are mainly produced from chloroacetyl chloride is projected to propel the market growth over the forecast period. Acids Anhydrides are widely used in the preparation of pharmaceutical formulation, industrial chemicals, and perfumes. Moreover, it is also used in the manufacturing of aspirin and synthesis of heroin by diacetylation of morphine reaction. Therefore, growing demand for Acids Anhydrides from the aforementioned application is expected to propel the market growth. • Expanding chemical industry around the globe especially in Asia Pacific region is projected to propel the market growth of chloroacetyl chloride. According to The Economic Times, the India chemical industry is expected to grow at around 9% per annum to reach US$ 304 billion by FY25, from US$ 163 billion in FY18. The growth is likely to be driven by rising demand in end-use segments for specialty chemicals and petrochemicals intermediates. Hence, expanding chemical industry is expected to foster the market growth over the forecast period.

5. Furthermore, increasing demand for household organization products, increasing disposable household income are expected to fuel 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 2018, per capita adjusted gross disposable income of household in European Union (28 countries) increased to US$ 30,143 thousand in 2017, up from US$ 29,128 thousand in 2016. Whereas, in Euro Zone (18 countries), per capita disposable income increased to US$ 32,132 thousand in 2017 from US$ 31,071 thousand in 2016.  • Statistics: • Europe held a dominant position in the kitchen storage organization market in 2018, accounting for 33.0% share in terms of value, followed by North America and Asia Pacific, respectively.

6. Figure 1. Global Kitchen Storage Organization Market Share (%), By Region, 2018

7. Market Restraints • However, 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 growth of the kitchen storage organization market over the forecast period. • Market Opportunities • Increasing acquisitions by key players in the market is expected to propel the market growth. Key players operating in the kitchen storage organization market are focused on adopting inorganic growth strategies such as acquisitions to enhance their product portfolio and expand its business. For instance, in October 2019, Rev-A-Shelf, LLC, a U.S.-based supplier of kitchen storage and organization products acquired Sidelines Inc., a manufacturer of storage products for closets and kitchen, in order to expand its product portfolio. • Rising residential construction activities in emerging economies such as India and China among others is expected to fuel growth of the kitchen storage organization market. For instance, Housing for All program was launched in India in June 2015, by the Government of India, which planned to build 20 million urban and 30 million rural houses by 2022. Moreover, according to the National Bureau of Statistics of China, investment in residential buildings in China was US$ 1,075.7 billion in 2017 and exhibited year-on-year growth of 9.4%.

9. Market Trends/Key Takeaways • Players operating in the global kitchen storage organization market are focused on launching different products to cater to increasing customer demand. For instance, in January 2016, Hardware Resources, a manufacturer of functional and decorative bath and kitchen elements, launched Wood Pantry Pullout. The wood pantry pullout consists of five shelves, top mounting bracket, 400lb ball bearing bottom slides, 225lb ball bearing top slide, and is available in 12 different sizes. • Statistics: • Among material type, plastic segment was valued at US$ 21,554.7 Mn in 2018 and is expected to reach US$ 30,583.3 Mn by 2027, exhibiting a CAGR of 4.0% during 2019-2027.

10. Figure 2. Global Kitchen Storage Organization Market Share (%), By Region, 2018

11. Competitive Section: • Company Names  • 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 • Recent Developments • Masterclass Kitchens • In January 2016, Masterclass Kitchens 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.

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