Product ID: UCMIG30K2039
Report ID:
UCMIG30K2039 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The estimated value of the global kitchen sinks market in 2022 was USD 3.42 billion, and it is projected to experience a 4.2% compound annual growth rate (CAGR) from 2023 to 2030. The market's expansion is attributed to an increase in the number of households in various countries, the worldwide proliferation of hotels and restaurants, and the rising disposable income of consumers. The demand for well-equipped kitchens has surged, driven by the growing trend of cooking at home for health and other reasons. Kitchen sinks serve multiple purposes, particularly in smart and modular kitchens when integrated with the latest features and technologies. These sinks are available in various sizes, shapes, materials, and from different brands to cater to the diverse preferences and needs of consumers.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Household Products by segment aggregation, the contribution of the Household Products in Household & Personal Products and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG30K2039