Kitchen Sink Market
According to a new report published by Allied Market Research, “Kitchen Sinks Market Size, Share, Competitive Landscape and Trends Analysis Report by Material, Installation, Bowl and End User: Global Opportunity Analysis and Industry Forecast, 2022-2031,” the kitchen sinks market size was valued at $3.3 billion in 2021 and is expected to reach $4.9 billion by 2031, growing at a CAGR of 4.3% from 2022 to 2031.
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The growing demand for home improvement and home dรฉcor products worldwide is contributing significantly to the growth of the kitchen sinks market. The increase in the number of restaurants, cafes, hotels, and cloud kitchens is driving the demand for kitchen sinks market significantly across the globe. According to a report by the United States Department of Agriculture, full-service restaurants and fast food restaurants are the two largest segments of the commercial foodservice market, accounting for approximately 70.5% of dining out sales in 2021. With increasing urbanization and increasing real estate commercial and residential projects in developing countries, the demand for kitchen sinks is expected to grow rapidly during the forecast period. According to the United Nations Conference on Trade and Development in 2010, 51.6% lived in urban areas. By 2020, the proportion of urban population increased to 56.2%. This is generally higher in developed countries (79.2% in 2020) than in developing countries (51.6%).
Moreover, the development of smart kitchen sinks due to the widespread use of digital technology is expected to provide lucrative growth opportunities for manufacturers in the coming years. For instance, Kohler's smart kitchen sink offers voice control, while Xiaomi's Mensarjor kitchen sink offers smart dishwasher integration with high frequency vibration for washing vegetables and fruits. These advanced developments in sinks are rapidly gaining traction among consumers and are expected to drive the growth of the global kitchen sink market in the near future.
According to the kitchen sink market analysis, the market is segmented based on material, installation, bowl, end user, and region. Depending on material, it is divided into metal and non-metal. The metal segment is further divided into stainless steel, copper, and others. The non-metal segment is further divided into granite, fireclay, quartz, and others. By installation, the market is segmented into drop-in/top mount, undermount, farmhouse/apron front, and others. By bowl, the market is segmented into single, double, and multiple. By end user, the market is segmented into residential and commercial. By region, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA.
According to the kitchen sink market forecast, based on material, the metal segment will dominate the market, accounting for 81.6% of the kitchen sink market share in 2021. This dominance is attributed to the large-scale adoption of stainless steel in the manufacturing of kitchen sinks. Various characteristics of stainless steel such as easy availability, high strength, durability, affordable price, and versatility are the key factors that make it an ideal choice for kitchen sinks.
As per the kitchen sink market trends, farmhouse/apron front is expected to be the fastest growing segment during the forecast period, based on installation. Farmhouse/apron front sinks are large in size, making them ideal for easily washing large baking pans and casseroles. This is the primary factor behind their increasing adoption in homes, especially in restaurants, cafes, and cloud kitchens.
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While it varies by bowl, the single segment dominated the market in 2021. Single bowl sinks are one generally large basin without any dividers. Single sinks are available in a range of sizes, making them ideal for small kitchens. They dominate the majority of the market. Brands like Carysil, Futura, Kaff, and Neelkanth offer them.
In terms of the kitchen sinks market opportunity, based on end user, the commercial segment is expected to dominate the market in 2021 and during the forecast period owing to the large scale use of kitchen sinks in hotels, restaurants, cafes, schools, hostels, and cloud kitchens.According to the Indian Tourism Statistics from the Ministry of Tourism, the number of approved hotels in 2021 has increased by around 5% compared to 2020.
Based on region, Asia Pacific holds a major share in the global kitchen sinks market, accounting for 34.77% of the revenue share in 2021. The region is expected to dominate the market during the forecast period owing to rapid urbanization and huge population. The kitchen sinks market is expected to grow during the forecast period owing to the increase in the number of residential properties coupled with increasing disposable income. The rise in the real estate industry is expected to expand the market in this region. Along with this, the increase in commercial establishments such as restaurants, hotels, and hospitals in the region is also expected to drive the market growth.
Some of the major companies operating in the global kitchen sink industry include Dornbracht, Duravit AG, Kohler Co., Ruvati, BLANCO America, Inc., Crown Products Limited, Elkay Manufacturing Company, Franke Management AG, Huida Sanitary Ware Co. Ltd., Julien Inc., Delta Faucet Company, Roca Sanitario, SA, House of Rohl, ACRYSIL Ltd., and Oliveri Solutions.
๐๐๐ฒ ๐๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐ฌ๐ญ๐ฎ๐๐ฒ:-
> The global kitchen sinks market size was valued at $3,275.6 million in 2021 and is projected to reach $4,908.2 million by 2031, registering a CAGR of 4.3% from 2022 to 2031.
Based on material, the non-metallic segment is expected to grow fastest, registering a CAGR of 5.0% during the forecast period.
> In 2021, depending on the end user, the commercial segment was valued at $2,336.8 million, accounting for 71.3% of the global kitchen sinks market share.
> In 2021, the United States was the most prominent market in North America, projected to grow at a CAGR of 3.8% during the forecast period, reaching $744.6 million by 2031.
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