Trends and drivers
Alongside long-term demographic trends, kitchen demand is impacted by such factors as general economic conditions, consumer confidence, disposable income, furnishing trends, the property market trend and the construction of new housing.
Kitchens have become a lifestyle product. Today's kitchens have larger areas and fulfill more functions than what it has been like historically. We spend more time in our kitchens and they have become the natural place for many activities. The kitchen has gone from being a place for cooking to become the heart of the home.
To purchase a kitchen is a relatively complex and major investment for the households, in which design and function play key parts. Increased digitalisation is leading to new customer behaviors.
Europe's kitchen market
The value of the European kitchen market is estimated to around EUR 13 billion. The four largest European markets are Germay, Italy, the United Kingdom and France. Total kitchen consumption in Nobia's main markets – the UK, Sweden, Norway, Denmark, Finland, and Austria – is estimated to around EUR 4.1 billion.
The kitchen market in Europe is highly fragmented and there is a high level of competition. Some kitchen companies have several brands in the same Group, although few have operations in several different geographic regions. There is however a slow move towards a more consolidated market.