The kitchen sinks market is driven by a rise in demand for multifunctional and eco-friendly designs, technological advancements such as smart sinks, and the expansion of online retail channels. Moreover, increase in home renovations and the popularity of modern kitchen aesthetics has contributed to the market expansion.
PORTLAND, Ore., Sept. 18, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Kitchen Sinks Market [https://www.alliedmarketresearch.com/kitchen-sinks-market-A16899] by Material (Metal and Non-metal), Installation (Drop-in or Top Mount, Undermount, Farmhouse or Apron-Front and Others), Bowl (Single, Double and Multiple), End User (Residential and Commercial): Global Opportunity Analysis and Industry Forecast, 2024-2034". According to the report, the kitchen sinks market was valued at $3.6 billion in 2023, and is estimated to reach $5.4 billion by 2034, growing at a CAGR of 3.9% from 2024 to 2034.
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Prime determinants of growth
Increase in home renovation and remodeling activities, driven by consumer desire for modern and functional kitchen spaces, have boosted demand for innovative kitchen sink designs. The trend toward open and aesthetically pleasing kitchen layouts has led to greater emphasis on stylish and multifunctional sinks, which has helped drive the market growth. Advances in manufacturing technologies have enabled the production of durable, high-quality sinks with features such as integrated cutting boards and smart faucets. In addition, the rise in environmental awareness has fueled demand for eco-friendly sinks made from sustainable materials. The expansion of e-commerce platforms has also played a crucial role, allowing consumers easy access to a wide variety of kitchen sink options and driving market growth globally.
Report coverage & details:
Report Coverage Details Forecast Period 2024-2034 Base Year 2023 Market Size in 2023 $3.6 billion Market Size in 2034 $5.4 billion CAGR 3.9 % No. of Pages in Report 306 Segments Covered Material, Installation, Bowl, End User, And Region. Drivers Rise in demand for home décor products Rise in the number of HoReCa and cloud kitchen units Rapid growth of the real estate industry Rapid urbanization Opportunities Technological advancements Restraint Rise in price of stainless steel
The metal segment held the highest market share in 2023
By material, the metal segment held the highest market share in 2023. Sinks are available in various kinds of metals, such as cast iron, copper, and stainless steel. The most common kitchen sinks are made of stainless steel, which has several advantageous qualities like corrosion resistance, fire and heat resistance, hygienic qualities, high strength to weight ratio, ease of manufacture, impact resistance, antibacterial properties, and long-term value. Additionally, there are several techniques to install metallic sinks, including under mount and top mount, which increases demand for the segment among consumers. Furthermore, the segment is expected to witness growth owing to its increasing demand among residential consumers, HoReCa, and offices.
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The drop-in or top mount segment held the highest market share in 2023
By installation, the drop-in or top mount segment held the highest market share in 2023. The drop-in or top mount segment of kitchen sinks have high preference owing to its ease of installation and versatility. These sinks can be easily fitted into existing countertops, which has made them an ideal choice for renovations or DIY projects. The rim or lip of the sink rests on the countertop, which provides stability and allows for straightforward installation without specialized tools. This design also accommodates a wide range of countertop materials and thicknesses, making it compatible with various kitchen styles and budgets. In addition, drop-in sinks are often more affordable compared to other types, which has thus made them an attractive option for cost-conscious consumers .
The single segment held the highest market share in 2023
By bowl, the single segment held the highest market share in 2023. The single bowl sink market will grow since it takes less space as compared to other sinks. Rapid urbanization will boost the demand for the single bowl sink market since urbanization is leading to shrinkage in house spaces and builders and owners are trying to get all the facilities in as limited space as they can. According to the United Nations more than half of the global population lives in urban areas, while the urban share worldwide is rising from around one-third in 1950 to around two-thirds in 2050. Along with this, rise in the number of nuclear families is also expected to propel the growth of the segment as a nuclear family needs less space for cleaning and washing.
The commercial segment held the highest market share in 2023
By end user, the commercial segment held the highest market share in 2023 owing to the rigorous and frequent usage requirements in restaurants, hotels, and other food service establishments. Commercial kitchens require durable, high-capacity sinks to handle large volumes of dishwashing, food preparation, and sanitation tasks. Stainless steel sinks are particularly popular due to their resistance to corrosion, ease of cleaning, and ability to withstand heavy use. Additionally, health and safety regulations often mandate specific sink installations to ensure hygiene and efficiency in food handling areas. These factors drive the continuous need for robust and efficient kitchen sinks tailored to the demands of commercial environments.
Asia-Pacific led the market share in 2023
By region, Asia-Pacific held the highest market share in terms of revenue in 2023. The demand for kitchen sinks in the Asia-Pacific region is driven by innovative designs catering to diverse consumer preferences, such as multi-functional sinks with integrated accessories. The strong manufacturing capabilities in the region allow for cost-effective production of high-quality sinks, making advanced features more accessible to consumers. Growing interest in sustainable living has increased demand for eco-friendly sinks made from recycled or renewable materials. In addition, the rise of e-commerce has expanded market reach, as it has allowed consumers to access a wide variety of products and brands. Influences from regional design trends, particularly minimalist and contemporary styles, have also contributed to the increase in demand for aesthetically pleasing and functional kitchen sinks in recent years.
Players: -
-- Delta Faucet Company
-- Huida Sanitary Ware Co., Ltd
-- JULIEN INC
-- Duravit AG
-- Elkay Manufacturing Company
-- Roca Sanitario
-- S.A, ACRYSIL Ltd
-- House of Rohl
-- Kohler Co.
-- Franke Management AG
The report provides a detailed analysis of these key players in the global kitchen sinks market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Industry Dev
-- In February 2024, Roca introduced its latest collection of sleek and
minimalist sink designs, focusing on space-saving solutions for urban
living environments.
-- In September 2023, Franke announced a collaboration with top designers
to develop customizable kitchen sink solutions, allowing customers to
tailor sinks to their specific design preferences .
-- In May 2023, Kohler unveiled its eco-friendly line of kitchen sinks,
incorporating recycled materials and water-saving technologies, catering
to environmentally conscious consumers .
-- In August 2022, Elkay expanded its product line with stainless steel
sinks to emphasize durability and modern aesthetics.
-- In March 2022, Moen launched new sink designs with integrated smart
features such as touchless faucets and water filtration systems,
targeting tech-savvy consumers seeking convenience and efficiency in
their kitchen.
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