Press release
Global Kitchen Appliances Market Size To Grow At A CAGR Of 4.6% In The Forecast Period Of 2022-2027
The key highlights of the report include:
Market Overview 2017-2027
• Forecast CAGR (2022-2027): 4.6%
The global kitchen appliances market is expected to register growth during the forecast period on account of the rising disposable incomes and the increased availability of affordable and advanced products. The increasing development of innovative products is a significant aspect expected to boost the market growth of kitchen appliances.
As more people join the workforce worldwide, they have less time available for cooking extensive meals and manually washing dishes. Kitchen appliances offer convenience and save time, increasing their popularity among busy worker. They also help beginners in learning how to cook by simplifying kitchen tasks.
The surging number of eateries and restaurants across the globe are expected to generate lucrative opportunities for the kitchen appliances market in the commercial sector over the coming years. Advancements in products that offer convenience, multi-task, and are considered safe for the environment is further expected to push forward the market growth of kitchen appliances.
Kitchen Appliances Industry Definition and Major Segments
Kitchen appliances are the types of products or appliances designed and created in applications in the kitchen, including for cooking, food storage, and dish cleaning. They are available in different materials, colours, mechanisms, sizes, styles, and shapes. Some popular kitchen devices include refrigerators, ovens, stoves, dishwashers, and blenders that help users save money, energy, and time while cooking.
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Based on product type, the market is segmented into:
• Dishwashers
• Microwave Ovens
• Refrigerators
• Mixers and Grinders
• Food Processors
• Other
By fuel type, the market is classified into:
• Cooking Gas
• Electricity
• Others
On the basis of end use, the market is bifurcated into:
• Residential
• Commercial
Based on distribution channels, the market is segmented into:
• Offline Stores
• Online Stores
On the basis of region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Europe
• Middle East and Africa
Kitchen Appliances Market Trends
Geographically, the North American region is anticipated to drive the kitchen appliances market growth on account of the rising number of people working long hours. Rising disposable income levels are further expected to boost the market growth of kitchen appliances across the North American region as this is leading consumers to spend more on new purchases of appliances, especially in the United States and Canada.
The growing trend of replacing traditional appliances with advanced kitchen appliances is likely to push forward the market growth of kitchen appliances in the region. With an increase in home renovations, the market growth of kitchen appliances is expected to witness significant growth in the United States over the forecast period.
Meanwhile, the Asia Pacific region is anticipated to gain momentum over the coming years in the kitchen appliances market growth on account of the rising demand for these appliances in emerging economies like China, Japan, and South Korea. The increasing middle-class population along with rapid urbanisation, and the increase in the use of innovative kitchen appliances are expected to propel the market growth across the Asia Pacific over the coming years.
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Key Market Players
The major players in the global kitchen appliances market report are
• LG Electronics Inc.
• Haier Inc.
• Samsung Electronics Co., Ltd.
• Whirlpool Corporation
• BSH Hausgeräte GmbH
• Panasonic Corporation
• AB Electrolux
• Fisher & Paykel Appliances Ltd.
• SMEG S.p.A.
• Miele & Cie. KG
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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