Household Furniture and Kitchen Cabinet Market to Witness Exponential Growth by 2018 – 2026

Household furniture includes items used for seating, placing appliances and showpieces, and storage, among others. Tables, chairs, shelves, cabinets, benches, cupboards, beds, and garden chairs are a few examples among the vast range of products available in the household furniture segment. Kitchen cabinets are a sub-segment of household furniture which, as the name suggests, are used in kitchen. These cabinets are used to store and display appliances and utensils used for cooking purposes. Modern kitchen cabinets have integrated equipment such as dishwashers, grinders, and many others. These cabinets are made of a variety of materials such as wood, steel, plastic, and glass.

The global household furniture and kitchen cabinet market is expected to grow rapidly during the forecast period, driven by a number of factors. As more and more people move out of their homes in search of employment, they take up accommodation on rent. Since these accommodations are largely temporary in nature, tenants prefer to take furniture on rent rather than purchasing. Additionally, with rising income level of people, demand for household items has gone up. Moreover, as consumers become aware of the choices available to them, the range and specifications of products demanded by them are expected to change as well. Also, customization to suit diversifying need of modern consumers is projected to drive the market in the near future. Manufacturers are focusing on improving ease of use of furniture by making appropriate design modifications to suit customization. However, space saving furniture is becoming a trend in the market as they relieves the user of space crunch of metropolitan homes. This has affected the demand for kitchen cabinets in recent years.

Environmental concerns and competition are among the key restraints faced by participants in the global household furniture and kitchen cabinet market. Environmental concerns are related to the usage of more eco-friendly materials for manufacturing of furniture in place of wood. As global players enter newer markets, it poses a threat to the local participants. This is anticipated to lead to consolidation in the global household furniture and kitchen cabinet market in the form of collaborations and mergers.

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There are immense opportunities in the affordable and rental kitchen cabinet segment. Design innovations and focus on user experience are the other key areas where there is a lot of potential for participants in the global kitchen cabinet market.

Segmentation of the household furniture and kitchen cabinet market can be done on the basis of price, material, end-user, distribution channel, and region. Based on price, the global household furniture and kitchen cabinet market can be classified into budget and luxury range. Based on material used, the household furniture and kitchen cabinet market can be divided into wood, metal, and others. In terms of end-user, the global household furniture and kitchen cabinet market can be categorize into households and hotels. Based on distribution channel, the household furniture and kitchen cabinet market can be split into online and offline channels. Regional segmentation of the global household furniture and kitchen cabinet market comprises North America, Europe, Asia Pacific, Middle East & Africa, and South America.

IKEA, Hettich Group, Hafele, Blum, Kitchen Magic, i3 Space Kitchen, Meine Kuche India Private Limited, Kitchen Décor, Godrej Interio, and Pepperfry are some of the major participants in the global kitchen cabinet market. Pepperfry is a manufacturer and retailer of furniture products, it operates both through online and offline channels. IKEA is a well-known manufacturer in the global furniture market which is known for its innovative products across its entire portfolio. Sliding and folding doors of kitchen cabinets are some of the common design innovations seen today.

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