The Austrian market for kitchen furniture experienced a significant decrease in volume in 2023. However, only the replacement and exchange business declined. Revenue from kitchens in new residential construction grew robustly, according to current data from three market studies conducted by the market research institute Branchenradar.com.
Providers of kitchen furniture, kitchen sinks, and kitchen countertops faced a great challenge in 2023. According to the latest Branchenradar Küchen in Österreich (Kitchens in Austria), the market revenue based on manufacturer sales decreased by 10 percent compared to the previous year. Overall, €530.8 million were generated.
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Contrary to the prevailing interpretation, the declining residential construction sector did not contribute to the negative trend. Since residential completions continued to grow last year, the demand for kitchens in new residential construction also increased robustly. The decline was therefore entirely attributable to the replacement and exchange business. Compared to 2022, revenue here shrank by almost 19 percent.
The reason was obvious: purchasing a new kitchen was simply too expensive for many households. Last year, a new kitchen, including countertops, kitchen sinks, and household appliances, cost around one-fifth more than it did three years ago. Against the backdrop of high inflation, a generally pessimistic mood, and a shift in household spending towards gastronomy, leisure, and vacation, replacement investments were postponed in many places. And since there was rarely an urgent need to purchase a new kitchen, this was not a major concern for private households. It is not expected to become much more expensive in the coming years.
In comparison to the previous year, revenue from kitchen furniture decreased by 10.8 percent to approximately €422 million, from kitchen sinks by 9.3 percent to just under €26 million, and from kitchen countertops by 5.8 percent to just under €83 million. The market for kitchen countertops was supported by the ongoing trend towards high-priced versions made of natural stone, mineral materials, and ceramics. To a slightly lesser extent, this also applied to kitchen sinks. However, intensified price competition dampened the price increase.
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