Global Kitchen Island Market size was valued at US$ XX Mn in 2019 and expected to reach US$ XX Mn by 2019 at a CAGR of 5% during the forecast period.
The Global Kitchen Island market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Global Kitchen Island report also provides trends by market segments, technology, and investment with a competitive landscape.
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Global Kitchen Island Market Overview:
Kitchen Island is a cabinet that is either freestanding or movable as per the likes of consumers. Kitchen islands consist of stools, drawers, extra storage space for ovens and fireplace, and extra space for cabinets that can be used for housing cooking appliances. Kitchen islands nowadays are developing as an integral part of the kitchens as it integrates the functionality of the kitchen as well as improves the aesthetics for home decor. The global kitchen market is estimated for approximately 5% CAGR during the forecast period.
Global Kitchen Island Market Dynamics:
Increasing consumer preferences towards high class and affordable kitchenware and adoption of new trends in the market including lighting, furnished door panels, high glass finishing, and others are the factors considered to drive the market growth. Furthermore, increasing competition in the market owing to increasing demand for varying product portfolio of kitchenware is the key supporting factor considered to drive the kitchen island market growth. According to Twin star International, demand for kitchenware has increased by 49% from past decade owing to high functional characteristics of Kitchen Island.
In addition, the residential construction industry growth across the emerging economies is the key factor anticipated to drive the market growth across the developing economies.
Moreover, number of designs and price ranges availability across the market are the factors expected to create opportunities in the market. According to EU quality of life survey, more than 60% of Europeans preferred smart kitchen island to improve the aesthetics of their kitchen.
Global Kitchen Island Market Segment Analysis:
Portable Product Segment is dominating the Kitchen Island Market:
Portable Kitchen Island comes with rollers at the bottom and some are placed and designed according to the interior of the house. Factors attributing to the growth of the portable kitchen island segment are adoption of innovative designs for kitchen storages and increasing use of rolling kitchen tables in restaurants, hotels, bars, and others. According to Four Seasons Group (A 7-star Hotels and Restaurants Chain), hotels, and restaurants in the US consumed approximately 650 portable kitchen islands and more than 2500 portable kitchen tables in the year 2019 alone owing to easy setup and easy removal mechanism.
Wooden Material Segment is posing as Fastest Growing in Kitchen Island Market:
According to National Restaurants Association, Wooden material segment is a 1.5 billion USD industry across the globe for kitchenware and especially kitchen island making. Robust designs made of wooden material and natural and aesthetic looks demand by consumers across the globe are the key factors considered to drive the growth of the segment. Moreover, the cheap cost of the wooden material and relatively low operational cost are the key supporting factors considered to drive the growth of the segment. Moreover, many house furniture makers are taking an interest in the kitchen island market owing to high demand and more pay available in the market.
Specialty Store segment is boosting sales for Kitchen Island Market:
Specialty stores provide the exact products the customer is wishing and also can make any overseas item available for the consumers at affordable rates. According to the specialty stores Association, furniture for Kitchen Island has accounted for approximately 58% market share and specialty stores across the globe are accounted for approximately 2.7 billion USD annual sales in the market with 26% of Y-O-Y growth. In addition, wide range of products availability and hands-on experience taken by consumers to ensure the product quality are the factors attributing growth in the specialty stores segment.
Global Kitchen Island Market
Impact of COVID pandemic on the Kitchen Island market:
COVID pandemic has a major impact on the market in terms of sales as more than 43% sales of units are hampered owing to disruption in transport capabilities of the manufacturers due to stringent norms of lockdown and increasing safety concerns. Furthermore, closing of specialty stores and supermarkets and hypermarkets chain owing to stringent lockdown conditions across the globe have impacted the sales of kitchen island market in a negative way.
Now that the manufacturing sector is opened post pandemic and production activities along with extensive research and development is keeping up the pace, many industry experts are expecting ascending sales for the Kitchen Island market as residential kitchenware is booming in the market and various consumers are demanding portable form of furniture for cheap prices.
Global Kitchen Island Market Regional Insights:
North America holds the major share in the Kitchen Island market with approximately 43%, market share. The highly growing urban lifestyle and increasing disposable income of consumers owing to economic growth in the region are the key factors considered to drive the market growth. Moreover, the high inclination of consumers towards convenient and functional kitchenware accommodation needs is the key supporting factor boosting the market growth in North America. The USA dominates the region with approximately 54% market share owing to the highly demanding furniture market in the region.
Europe is expected to pose as the fastest-growing region in the Kitchen Island Market with approximately 28% market share. Increasing investment of prominent players in the market is the key factor attributing to market growth in the region. Italy holds a prominent share in the market as the region is known for its lavish kitchenware setting manufacturing.
APAC holds a prominent share in the market owing to high technological adoption in the market and highly emerging infrastructure capabilities in the region. APAC region consumed approximately 10% of Kitchen Island equipment in terms of market share.
Global Kitchen Island MarketThe objective of the report is to present a comprehensive analysis of the Global Kitchen Island Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Kitchen Island Market dynamics, structure by analyzing the market segments and project the Global Kitchen Island Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the Global Kitchen Island Market make the report investor’s guide
Global Kitchen Island Market Scope: Inquire before buying
Global Kitchen Island Market
Global Kitchen Island Market, by Region
• North America
o CIS Countries
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
• Middle East and Africa
o South Africa
o GCC Countries
o Rest of ME&A
• South America
o Rest of South America
Global Kitchen Island Market Key Players
• Twin Star International
• L.L. Johnson Lumber
• Oldcastle Masonry
• Powell Furniture
• Home Styles
• Acme Furnitures
• Winsome Wood
• Seville Classics
• Linon Home Décor
• Martha Stewart Living
• Chris and Chris
• South Shore Furniture.
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