Modular Kitchen Market in India 2015-2019
About Modular Kitchens
A modular kitchen comprises a range of fixtures and cabinets put together in a planned manner to facilitate effective usage of kitchen space. A modular kitchen normally consists of wooden cabinets; countertops; internal accessories such as built-in covered baskets; and household and kitchen appliances such as a washbasins, dishwashers, chimneys, cooking range/stoves, and microwave ovens. It is custom designed, and customers can choose from a variety of options, features, colors, and patterns.
Technavio's analysts forecast the modular kitchen market in India to grow at a CAGR of 51.87% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the modular kitchen market in India for the period 2015-2019. It also includes the revenue generated from historical sales of modular kitchens in the country. In this report, we determined the market size according to the revenue generated by sales of modular kitchens in India, and estimated the growth prospects of the market after an analysis of the present market conditions. In addition, the report discusses the major drivers that influence the growth of the market, the challenges faced by vendors and the market at large, as well as the key trends emerging in the market.
Technavio Announces the Publication of its Research Report – Modular Kitchen Market in India 2015-2019
Technavio recognizes the following companies as the key players in the Modular Kitchen Market in India: Godrej and Boyce, IFB Industries, Oren Kitchen Appliances and Sleek International
Other Prominent Vendors in the market are: Häcker Küchen, Hindware Home Retail, Poggenpohl, Scavolini Kitchen Designs and Zuari Furniture
Commenting on the report, an analyst from Technavio’s team said: “With a rise in the number of new vendors entering the modular kitchen market in India, there has been a significant rise in the number of joint ventures. The foreign vendors entering the market are engaging in tie-ups and joint ventures with domestic players for assistance in the sales and distribution of their products. For instance, Fisher & Paykel Appliances, a New Zealand-based high-end kitchen appliances brand, entered the market in India by entering into a partnership with Shivam Industrial as its retail distributor. Similarly, H&R Johnson India entered into a tie-up with German company Nobilia in 2013. H&R Johnson is now providing modular kitchens designed by Nobilia, which has been offering modular kitchens since 1945. Joint venture operations and strategic tie-ups help foreign companies to expand their manufacturing and distribution bases in India and also provide domestic players with access to advanced technologies.”
According to the report, the total annual disposable income in India has increased from $1.55 trillion in 2012 to $1.65 trillion in 2014. This increase in disposable income is an indicator of the improving lifestyle of an average Indian household. As a result, the buying power of customers has increased, and customers are willing to spend more in the quest for a better lifestyle. This is leading to the growth of the modular kitchen market in India.
Further, the report states that high prices of branded modular kitchens leads to the growth of the unorganized segment of the market and inhibits the growth of the organized segment.
Godrej and Boyce, IFB Industries, Oren Kitchen Appliances, Sleek International, Häcker Küchen, Hindware Home Retail, Poggenpohl, Scavolini Kitchen Designs, Zuari Furniture
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