Saudi Arabia Modular Kitchen Market to Grow at a CAGR of 9.7% until 2028
Published | 18 July 2022
Saudi Arabia Modular Kitchen Market is flourishing owing to the changing lifestyles, rising preferences for convenience goods, modern kitchens, and space-saving cabinets along with the rapidly growing urban residential construction…
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Saudi Arabia Modular Kitchen Market is projected to grow at a CAGR of 9.7% during the forecast period 2022 - 2028. The Saudi Arabia Modular Kitchen Market is booming because of the rising disposable income of consumers, which encourages them to spend more on goods that make their lives more convenient and comfortable. Moreover, the residential construction sector's rapid expansion and customers' shifting lifestyle preferences from joint to nuclear families are the main drivers of the modular kitchen market's expansion. In addition to improving the appearance of the kitchen and the entire house, modular kitchens save space and offer convenient and effective storage for groceries and other necessities while making the best use of limited space. They also have a clean appearance. Furthermore, Saudi Arabia Modular Kitchen Market is one of the most emerging markets that grow continuously owing to the fast integration of new technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), cloud computing, and others. However, modular kitchens are quite expensive and are also high on maintenance, which in turn, may act as a huge restraining factor for the market growth.
Rising Modern Home Preferences are Driving the Market
To improve the aesthetics of the kitchen in modern homes, consumers are increasingly straying from all-white kitchen decor and choosing hues like charcoal grey, champagne, beige, etc. In addition, consumers' growing spending power encourages them to choose items that enhance their convenience, which is boosting the market for modular kitchens in Saudi Arabia. Additionally, the demand for modular kitchens is being supported by the quick expansion of the residential construction sector and changing consumer lifestyle trends. Moreover, modular kitchens are also in high demand by various commercial end-users such as restaurants, cafeterias, and commercial kitchens. Furthermore, customers' increased preference for smart appliances and consumer electronics as part of designer house renovations is boosting the demand for modular kitchens in Saudi Arabia. The expansion is accelerated by the introduction of new products with enhanced capabilities to enhance the functionality and accuracy of devices.
Introducing New Products Propelling the Market Grow.
Leading market participants have introduced new goods with enhanced capabilities. They have made the essential actions to increase the devices' accuracy and general performance. Island modular kitchens are among the most well-liked types of modular kitchens. This design not only offers a wonderful cooking experience but also plenty of room for storage with no obvious mess in the kitchen. It is a very flexible model since it provides the consumer the freedom to use the kitchen area in any way, they see fit, including for storage and dining needs. This results in offering lucrative opportunities for the Saudi Arabia Modular Kitchen Market during the forecast period (2022-2028).
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Challenge: High Installation Costs of Modular Kitchen
If you choose any of the high-end finishes, these kitchens can be very expensive. Branded accessories can also cost more than expected. Traditional kitchen cabinets require a significant amount of time and materials. As a result, some designs may become prohibitively expensive. As a result, the Saudi Arabia Modular Kitchen Market's growth is hampered. Furthermore, modular kitchens look great but require a lot of upkeep. It is necessary to clean the cabinets regularly to keep them looking brand new. This is especially true if the kitchen cabinets have high-gloss coatings, which tend to show spills and grease quickly. However, keeping a clean kitchen is essential in any kitchen, so this is not an option.
Segmental Coverage
Saudi Arabia Modular Kitchen Market – By Distribution Channel
Based on the distribution channel, the Saudi Arabia Modular Kitchen Market is segmented into Offline (Contractors, Builders), Online. Saudi Arabia is emerging as the Middle East and North Africa (MENA) region's e-commerce hub. With approximately 30.26 million internet users in the country, people are increasingly using the online channel to order kitchen cabinets and other items, owing to the convenience provided by market players such as Amazon, Danube, and Ikea. However, the offline segment comprising contractors and builders continues to dominate the market, as boomers and others prefer brick-and-mortar stores and visit showrooms to select kitchen layouts. Contractors also have an impact on the market's kitchen designs. All these factors boost the growth of the Saudi Arabia Modular Kitchen Market during the forecast period (2022-2028).
Impact of COVID-19 on Saudi Arabia Modular Kitchen Market
Several manufacturers have been impacted by the COVID-19 pandemic-induced lockdown and economic crisis. Throughout the year, many suppliers faced significant resource constraints in their material supply and logistics chains, which had a significant negative impact on their operations. Furthermore, the complete shutdown of all commercial and industrial operations, except those that are necessary, such as the food and healthcare industries, is causing a national economic disaster. Manufacturing and production activities have ceased, causing the business to slow, and the supply chain has been completely disrupted as a result of inactive commerce and transportation. As a result, businesses may soon suffer significant losses.
Competitive Landscape
The leading market players in the Saudi Arabia Modular Kitchen Market are Saudi Kitchen Line, Snaidero, Alkhaleejion Kitchen, Inter IKEA Systems B.V, Pedini, Hafele, Hacker Kitchens, Kitchen Net, Oakcraft Kitchen Cabinets, Al Joaib Group’s, and other prominent players. The Saudi Arabia Modular Kitchen Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Saudi Arabia Modular Kitchen Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Saudi Arabia Modular Kitchen Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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