PORTLAND – According to a report published by Allied Market Research, the global outdoor kitchen cabinets market generated $2.9 billion in 2020, and is projected to reach $5.1 billion by 2030, growing at a CAGR of 5.8% from 2021 to 2030.

Driving the increase in expenditure on luxury lifestyles among people includes the rise in the adoption of outdoor living spaces, rapid urbanization, and improvement in the standard of living among people. 

On the other hand, the extortionate cost of outdoor kitchen setup is expected to hinder growth to some extent. However, the surge in the number of outdoor living projects in various homes is expected to create ample opportunities for the growth of the industry.

Other highlights include:

• Thcontractor'srs segment held the largest market share in 2020, garnering more than two-fifths of the global market. The e-commerce segment, on the other hand, is expected to cite the fastest CAGR of 6.9% during the forecast period.
• The stainless-steel segment held the majority market share in 2020, holding around one-third of the global market. The polymer segment, on the other hand, is predicted to cite the fastest CAGR of 8.6% during the forecast period.
• The market across North America held the lion’s share in 2020, holding more than two-fifths of the global market. The Asia-Pacific region, on the other hand, is predicted to cite the fastest CAGR of 7.9% during the forecast period.