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Nobia sells kitchens in several markets but is organised into three segments: the UK, Nordic and Continental Europe regions.

The value of the European kitchen market is estimated at between EUR 11 and 12 billion. The largest single markets are Germany, Italy and the UK. In terms of price segments, the economy and middle-price segments each account for more than 40 per cent of the market, while the luxury segment represents the remaining approximately 15 per cent.

The European kitchen market is still fragmented and relatively local by nature. The five largest kitchen market players combined represent only about 35 per cent of the total sales value and in terms of value, Nobia is the top player with an estimated market share of about 10 per cent. Only a few brands have a presence in several markets. The market is instead characterised by a high number of strong local players. (Source: CSIL 2010)

Macroeconomic and emotional drivers

The kitchen market is strongly impacted by several mutually reinforcing factors, of which the general economic trend, the new-build rate, the property market trend and rate of employment are the most prominent. Interest in interior decorating and design, as well as product development in related industries such as white goods, also influence demand for kitchens.

In the wake of the financial crisis and general recession, the European kitchen market has experienced a weak trend in recent years. The demand for kitchens declined between 2007 and 2009. However, the demand for kitchens increased in several of Nobia’s main markets during 2010. Growth was strongest in the Nordic region.