Major drivers for kitchen products include cocooning, rising incomes, housing affordability, the sharing economy and connected consumers. Opportunities for retailers and manufacturers abound as a result of urbanisation and apartment living, the growth of single-person households, demand from gourmet home cooks and burgeoning interest in smart kitchens. Consequently, sales of kitchen products are expected to exhibit faster growth over the forecast period.
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Kitchens represent the heart of the home, with consumers likely to spend between one to two hours per day in the kitchen. Kitchens are the second most popular communal room in the home and consumers are likely to not only cook, but also eat and entertain guests in their kitchens.
Retail value sales of kitchen products, including kitchen sinks, kitchenware, cookware, kitchen and dining textiles and kitchen furniture, are expected to outpace historic growth, as well as other home areas such as living, dining, bathroom and bedroom over the forecast period.
Cocooning, rising incomes, housing affordability, the sharing economy and connected consumers all represent major drivers for kitchen products over the forecast period, resulting in premiumisation, renovation activity, Do-It-For-Me behaviour and demand for smart kitchen products.
Retailers and manufacturers have employed a range of strategies to promote their kitchen products, including 3D kitchen planners, sustainable kitchen cabinetry, portable kitchens, augmented reality, online sales, as well as smart kitchen products (eg connected appliances).
Rising urbanisation rates, apartment living, the growing proportion of single-person households and connected consumers represent opportunities for retailers and manufacturers to supply space-saving kitchen furniture, stylish and premium homewares products, as well as smart kitchen appliances and devices.