Kitchen Storage Organization Market Analysis

1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker     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).                                 

2. 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.                                                                                                                                            Furthermore, 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.     increasing   demand   for   household                 organization         products,                                                                             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.                               

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

4. 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%.                                                          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.                                       

5. Figure 2. Global Kitchen Storage Organization Market Share (%), By Region,  2018    Competitive Section:  Company Names   Key players operating in the market include Kitchen Magic, Rev-A-Shelf,           Knape & Vogt Manufacturing Company,         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                    Enclume     Design       Products,               1. Request Sample Report 2. Download PDF Brochure 3. Request Customization 4. Talk to Analyst Reference https://www.coherentmarketinsights.com/market-insight/kitchen-storage-organization-market-33 33

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