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The middle east and africa kitchen storage market is projected to reach a valuation of US$ 1.2 Bn in 2022, likely to surge at a vigorous 4.5% CAGR from 2022 – 2032.
Since the last few years, kitchen storage has grown in significance. Homeowners’ willingness to spend on home design items is mirrored by an increase in their spending on kitchen storage accessories.
Kitchens must have space for everything necessary, from tableware to culinary supplies like cooking oil and spices.
By minimising clutter and congestion, kitchen storage organisation goods including cabinets, drawers, tableware & serving storage, and pantry organisers significantly help in the creation of more navigable space, enabling people to make better use of kitchen space.
Different-sized storage accessories are being marketed by manufacturers depending on the size of the residence. According to projections, the global market for kitchen storage would be worth over US$ 150 billion by 2027 and rise at a compound annual growth rate of more than 3% from 2019 to 2027.
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Global Kitchen Storage Market- Competitive Landscape
The existence of a sizable number of market participants, which gives the global kitchen storage market its competitive aspect, distinguishes it.
Flywell International Corp, Masterclass Kitchens, Enclume Design Products, Kitchen Magic, Rev-A-Shelf, Inter IKEA Systems B., and ShefGenie Franchise Systems, LLC are a few notable participants in this market.
These players are focusing on joint ventures, acquisitions, and product introductions. For instance, Knape & Vogt expanded its kitchen storage organisation market by purchasing Diamond Storage LLC and CompX International’s furniture components operations in 2013.
In order to increase its sales of Now Kitchens’ product line, Masterclass Kitchens and the latter company partnered in January 2016. The company currently offers a wide range of goods, from contemporary kitchens to freestanding furniture.
The LifeProof Glass Water Bottle from Anchor Hocking LLC was unfilled with plastic the following year. This bottle stands out because it was made using a glass tempering method, which makes it significantly stronger than a typical glass bottle.
Metal Kitchen Storage Devices to Generate Latent Opportunities, Wooden Shelves Surge in Popularity
Over the course of the projected period, metal kitchen storage devices are becoming more and more popular due to their high corrosion resistance, increased durability, and longer lifespans. Customers are spending a lot of money on stainless steel cabinets because they dramatically reduce the likelihood of rusting when exposed to moisture or air and are made from high nickel and chromium alloys.
Steel is also resistant to high temperatures.
Additionally, steel-based kitchen storage items are non-permeable, which means nothing can flow through them and makes cleaning much simpler.
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However, wood-based technology is gaining popularity due to its aesthetic value and ease of cleaning from accumulated dirt and dust. Because it is lightweight, organising it is also made simpler.
Sink & Under Sink Sales to Hold Major Sway across the Forecast Period
Stainless steel, cast iron, composites, and solid surfaces are becoming increasingly popular materials for kitchen sink and under-sink accessories. This is due to the fact that managing kitchen trash is becoming increasingly crucial. To keep a neat and clean home, kitchen trash must be disposed of properly.
Since consumers want to save money, multi-functional sinks are growing in popularity nowadays. For instance, sinks now come with guards, drain kits, strainers, and soap dispensers.
Additionally, sensor-equipped smart sinks are increasingly popular for controlling water usage. By 2027, the sinks and smart sinks market will be worth US$40 billion.
Residential Grade Kitchen Storage Devices to Enjoy the Lion’s Share, Commercial Grade Catching Up
Customers want more sophisticated dwelling designs and layouts as urbanisation intensifies. Due to the increased need for effective and sustainable kitchen management, there has been an increase in the price of kitchen storage accessories.
Manufacturers are increasing their chances of making money by selling environmentally friendly goods, like energy-efficient dishwashers, which help consumers save money.
By the end of 2027, the residential grade market will be worth close to US$ 150 billion. Simultaneously, the rising popularity of eating in cafeterias and restaurants is improving commercial-grade kitchen storage appliances, creating profitable prospects for market participants to build significant revenue ecosystems.
Sales of Premium-Grade Kitchen Storage Products Gaining Immense Momentum due to Surging Living Standards
People’s living standards have improved as a result of urbanisation since more of them are working in well-paying positions, which has increased their disposable income levels. As a result, their demand for luxury and high-end goods would inevitably rise.
As a result, they are spending more money on high-end kitchen storage accessories. Consumers are more focused on an improved level of living in the modern day. This suggests that they are prepared to spend a larger portion of their income to obtain goods of excellent quality.
In the case of kitchen storage accessories, consumers are more concerned about an organized kitchen for which they tend to invest in expensive kitchen storage products.
Global Kitchen Storage Market- Company Profile
Flywell International CorpMasterclass KitchensEnclume Design ProductsKitchen MagicRev-A-ShelfInter IKEA Systems B.VShefGenie Franchise Systems, LLCKessebohmer Clever StorageBlum Australia Pty LtdOld Dutch InternationalAnchor Hocking, LLCKnape & Vogt Manufacturing Company
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The post Middle East and Africa Kitchen Storage Market Reached a Valuation of US$ 1.2 Billion in 2022 & Expected to Reach US$ 1.8 Billion in 2032 appeared first on Future Market Insights.