Electric Kettle Market is Expected to Accelerate At a Whopping 4.2% CAGR, Reaching $6.08 Billion by 2031

According to a new report published by Allied Market Research, titled, "𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐊𝐞𝐭𝐭𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 by Raw material, by Application, by Distribution channel: Global Opportunity Analysis and Industry Forecast, 2021-2031". The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. The Electric Kettle Market Size was valued at $4.06 billion in 2021, and is estimated to reach $6.08 billion by 2031, growing at a CAGR of 4.2% from 2022 to 2031.

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Rising purchase power, changes lifestyle and rapid urbanization are Electric Kettle Market Trends. Furthermore, the growing awareness about health benefits of using electric kettles and its multipurpose uses is supporting the market growth. Additionally, rising number of hotels, restaurants, hospitals, corporate office is positively influencing the market growth.

Moreover, increase in inclination of consumers toward smart appliances that have multipurpose uses notably contributes toward the growth of the global market. Additionally, companies provide electric kettles in a variety of sizes and with the capacity to boil between 0.5 and 2 litres of water, which has led to a wide range of product options for consumers, which creates enormous Electric Kettle Market Opportunity.

𝐀𝐜𝐜𝐨𝐫𝐝𝐢𝐧𝐠 𝐭𝐨 𝐓𝐡𝐞 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐊𝐞𝐭𝐭𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬, 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐞𝐝 𝐨𝐧 𝐭𝐡𝐞 𝐛𝐚𝐬𝐢𝐬 𝐨𝐟 𝐫𝐚𝐰 𝐦𝐚𝐭𝐞𝐫𝐢𝐚𝐥, 𝐚𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐝𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐜𝐡𝐚𝐧𝐧𝐞𝐥, 𝐚𝐧𝐝 𝐫𝐞𝐠𝐢𝐨𝐧. By raw material, the market is categorized into stainless steel, plastic, and glass. The stainless steel segment was the highest contributor to the market, with $1,683.4 million in 2021, and is estimated to reach $2,433.1 million by 2031, at a CAGR of 3.8% during the forecast period. This is attributed to the fact that stainless steel kettle is widely used in cafés and restaurants. Moreover, stainless steel kettles are reasonably priced and include extra features such as auto shutoff and base cord storage temperature control, and other lighting features include illuminated blue switches etc., which boost the growth of this segment.

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Based on application, the commercial segment held a significant share of 63.81% in the global market in 2021. This is attributed to increase in number of cafés, restaurants, and hotels in commercial complexes. Moreover, rapid development of the corporate sector is expected to fuel the demand for electric kettles. Electric kettles quickly boil water, which help restaurants and hotels to serve their customer quickly.

Depending on distribution channel, the offline segment dominated the market in 2021, accounting for 62.9% of the Electric Kettle Market Share, and is expected to retain its dominance throughout the Electric Kettle Market Forecast period. This is attributed to the fact that consumers are preferring products from various offline sales channels such as hypermarket/supermarket, specialty stores, and convenience stores.

Region wise, Europe was the prominent market in 2021, garnering maximum share, owing to high consumption of coffee and tea in majority of the European countries, including Germany, Italy, France, and Spain.

Key players are Aroma houseware company, Bajaj electrical limited, Breville group, Chef's choice, Cuisinart, Hario company limited, Hamilton beach, Helen of troy limited , Morphy Richards, and Spectrum brands holding.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲:

○ On the basis of raw material, the glass segment is expected to exhibit the fastest growth during the forecast period.
○ Depending on type, the commercial segment dominated the Electric Kettle Industry in 2021.
○ By distribution channel, the online sales channel segment is expected to register the highest CAGR of 4.8%.
○ Region wise, Europe is expected to be the fastest growing segment during the forecast period with a CAGR of 4.5%.

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𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐭𝐨 𝐛𝐮𝐲 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐊𝐞𝐭𝐭𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:

○ Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
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○ Classify potential new clients or partners in the target demographic.
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𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 "𝐀𝐌𝐑 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

○ Canada Electric Kettle Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/canada-electric-kettle-market-A24454

○ Europe Electric Kettle Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/europe-electric-kettle-market-A24456

○ Mexico Electric Kettle Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/mexico-electric-kettle-market-A24455

○ Germany Electric Kettle Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/germany-electric-kettle-market-A24457

○ France Electric Kettle Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/france-electric-kettle-market-A24458

○ Spain Electric Kettle Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/spain-electric-kettle-market-A24460

○ Italy Electric Kettle Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/italy-electric-kettle-market-A24461

○ Russia Electric Kettle Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/russia-electric-kettle-market-A24462

○ India Electric Kettle Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/india-electric-kettle-market-A24465

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