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Household Cooking Appliance Market Size Estimated to Reach USD $193.36 billion by 2028, Growing at a CAGR of 7.0% | Key Players are LG Electronics Inc., Electrolux AB, Panasonic, Haier Group, Whirlpool Corporation
Household Cooking Appliance Market
The Business Research Company's Household Cooking Appliance Global Market Report 2024 identifies Increasing kitchen remodeling activities as the major driver for the Household Cooking Appliance market's growth in the forecast period. Kitchen remodeling refers to the renovation and enhancement of kitchen spaces, often involving updates to kitchen appliances, cabinets, countertops, and other elements to improve functionality. Kitchen remodeling drives demand for upgraded and advanced household kitchen appliances as homeowners seek to align their appliances with newly renovated kitchen designs and features. and aesthetics.
The household cooking appliance market size has grown strongly in recent years. It will grow from $136.89 billion in 2023 to $147.49 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to electrification of households, changing lifestyles, energy efficiency and safety standards, rising home improvement costs, adoption of modular kitchens. The household cooking appliance market size is expected to see strong growth in the next few years. It will grow to $193.36 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
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Major competitors in the Household Cooking Appliance market are LG Electronics Inc., Electrolux AB, Panasonic, Haier Group, Whirlpool Corporation, SMEG S.p.A., Kenmore, Samsung Electronics.
A key trend in the Household Cooking Appliance market includes adopting smart appliance technologies. Major companies operating in the household cooking appliance market are adopting smart appliance technologies to enhance user convenience, streamline cooking processes, and provide personalized culinary experiences. Smart kitchen appliances are technologically advanced cooking and food preparation devices equipped with features such as sensors, connectivity, and automation to streamline and enhance kitchen tasks. For instance, in January 2023, VersaWare Technologies Inc., a US-based manufacturer of smart kitchen appliances, launched the next generation of smart kitchen appliances with a nutrition AI approach to the health and wellness space with a user-friendly appliance line composed of two connected smart kitchen appliances, including a mixing bowl and a cutting board. It also launched the VersaWare mobile app, which helps users cook meals that satisfy their preferred nutritional goals. Leveraging OpenAPI, their nutrition system incorporates an extensive product database, enabling users to scan a wide range of brands. Using VersaWare, users can simply scan barcodes for packaged items and input details for fresh ingredients, which are then used for calculations within the digital appliances. The AI component enables the real-time creation of diverse meals based on nutritional profiles, presenting comprehensive meal nutrition information.
Read More On The Global Household Cooking Appliance Market Report Here:
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The Household Cooking Appliance market is segmented -
• By Product: Electric Stoves, Microwave Ovens, Barbecues And Grills, Others - Household Cooking Appliance
• By Fuel Type: Cooking Gas, Electricity
• By Application: Household, Commercial
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Household Cooking Appliance market.
The Business Research Company's "Global Household Cooking Appliance Market Report 2024" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Household Cooking Appliance Market Include:
1. Executive Summary
2. Household Cooking Appliance Market Characteristics
3. Household Cooking Appliance Market Trends And Strategies
4. Household Cooking Appliance Market - Macro Economic Scenario
5. Global Household Cooking Appliance Market Size and Growth
…………………………………….
31. Global Household Cooking Appliance Market Competitive Benchmarking
32. Global Household Cooking Appliance Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Household Cooking Appliance Market
34. Household Cooking Appliance Market Future Outlook and Potential Analysis
35. Appendix
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