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RELEASED: APRIL 2008
After researching the UK fitted kitchen furniture market development and taking into account various other factors the following conclusions can be drawn from MBD's report:
MARKET REVIEW 2003-2007:
In 2007, the UK fitted kitchen furniture market increased by 10% to £1095.1 million at MSP consolidating the trend for growth evident prior to that. Sales declined in both 2003 and 2004 to a low of £854.9 million. However this was followed by a cumulative increase of 22% in the three years to 2007. Overall growth of 28% was recorded during the review period. The market has been driven by strong growth in housing output, high levels of consumer spending, historically low interest rates and low levels of unemployment.
MARKET FORECAST 2008-2012:
Much of the growth in the fitted kitchen furniture market during the review period was driven by a strong economy and a buoyant housing market. However there are now signs that these conditions will not be evident in the first half of the forecast period. Consumer confidence is low and the ability to spend on home improvements by remortgaging is limited due to the current problems in the mortgage markets. As such MBD believe that the UK market for fitted kitchen will decline in both 2008 and 2009 in real terms. Moderate growth is projected in the following three years to 2012. In the latter year, sales are anticipated to reach £1119.3 million (at 2007 prices) equivalent to a real term increase of 2% compared with 2007.
NOTE TO EDITORS:
MBD specialises in business to business market research. The range of reports and industries in which we operate in constantly expanding (our portfolio comprises of more that 140 titles). All our reports are written by in-house market consultants.
Click here for full details of the UK Fitted Kitchen Furniture Market Research Report
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