The kitchen storage organization market plays a pivotal role as it helps arrange kitchen essentials effortlessly. These storage products include cabinets, racks, trays, bins, and drawers made using various materials such as metal, plastic, and wood. They come in assorted designs and sizes to cater to unique storage requirements. Efficient kitchen storage organization solutions allow quick identification and access to kitchen tools and ingredients, thereby facilitating smooth food preparation. They also help maintain cleanliness and order in the kitchen.
The global kitchen storage organization market is estimated to be valued at US$ 161.02 Bn in 2024 and is expected to exhibit a CAGR of 9.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends: One of the major kitchen storage organization market trends is the growing demand for multipurpose and space-saving solutions. Kitchens have limited counter and cabinet space in modern homes. This has prompted manufacturers to introduce innovative products that serve dual or multiple purposes. For instance, pull-out shelves and racks can be used to store pots, pans as well as ingredients in one place. Collapsible or foldable kitchen organizers allow flexible use of vertical space when not in use. Such versatile storage options enable efficient utilization of available space in the kitchen.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the kitchen storage organization market already has established players. However, the growing demand provides opportunities for new players.
Bargaining power of buyers: The bargaining power of buyers is high given the availability of multiple substitutable products from various brands. Buyers can switch to alternative products easily based on price and features.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers for raw materials. However, suppliers of certain specialty materials may have higher bargaining power.
Threat of new substitutes: The threat of substitutes is moderate to high. Products like shelves, racks, bins provide alternatives to organize the kitchen. Improved features in substitute products pose a threat.
Competitive rivalry: Being a consumer goods industry, the competitive rivalry is high among existing players. Players differentiate through product features, designs, brand image, and pricing to gain market share.
Key Takeaways
The global kitchen storage organization market is expected to witness high growth. Global Kitchen Storage Organization Market Demand is projected to reach US$ 321.71 Bn by 2031 from US$ 161.02 Bn in 2024, expanding at a CAGR of 9.1% during the forecast period.
Regional analysis: North America dominates the global kitchen storage organization market currently, accounting for over 35% share. Presence of key players and rising consumer spending on home improvement products drive the North American market. Asia Pacific is expected to emerge as the fastest growing regional market moving forward with over 10% CAGR during the forecast period due to growing middle-class population and their increased spending on home décor in countries like China and India.
Key players: Key players operating in the kitchen storage organization market are Burcon Nutrascience, Cosucra Groupe Warcoing, Nutri Pea Limited, Sotexpro, Roquette Freres, Glanbia Plc., Fenchem Biotek Ltd., Prinova Group LLC, and Yantai Shuangta Food Co. Major players focus on new product launches integrated with advanced technologies for competitive edge. They also expand their geographical footprint through strategic partnerships and acquisitions to better address growing demand globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
