Press release
Urbanization Fuels The Surge In The Large Cooking Appliances Market: A Significant Driver Propelling The Large Cooking Appliance Market In 2025
Large Cooking Appliance
What Is the Large Cooking Appliance Market Size and Projected Growth Rate?
In recent times, we have observed a robust growth in the size of the large cooking appliance market. This is projected to expand from $34.4 billion in 2024 to $36.8 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.0%. The surge within the historic interval can be traced back to evolving consumer lifestyles, a sense of design and aesthetics, increased consciousness about health among consumers, urbanization coupled with spatial limitations, as well as a trend towards product customization and personalization.
Over the coming years, a strong surge in the major cooking appliance market size is projected, potentially reaching $48.91 billion in 2029 with a compound annual growth rate (CAGR) of 7.4%. The predicted growth within this timeframe can be traced back to factors such as global economic conditions, improved safety facets, bespoke options, urban lifestyle solutions and the sway of culinary tendencies. Within this forecast period, prominent trends include the amalgamation of smart kitchens, demand for energy efficiency, health and wellness inclinations, focus on design aesthetics, and enhanced cooking convenience.
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What Are the Major Segments in the Large Cooking Appliance Market?
The large cooking appliance market covered in this report is segmented -
1) By Product: Cooktops, Ovens, Specialized Appliances
2) By Sales Channel: Brick And Mortar, E-Commerce
3) By Application: Household, Commercial
Subsegments:
1) By Cooktops: Gas Cooktops, Electric Cooktops, Induction Cooktops
2) By Ovens: Wall Ovens, Range Ovens, Convection Ovens, Microwave Ovens
3) By Specialized Appliances: Slow Cookers, Steam Ovens, Sous Vide Cookers, Griddles And Grills
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What Are The Driving Large Cooking Appliance Market Evolution?
The rise in urbanization is predicted to fuel the expansion of the large cooking appliances market. Urbanization involves the substantial shifting of people from rural to city areas. As a result of urbanization, increased income, and smaller households, there is an increase in the number of large cooking appliances, which contributes to the growth of the market. For example, the World Bank, an international financial organization headquartered in the US, released an article in October 2022 stating that over 50% of the worldwide population resided in urban regions in 2022. By 2045, it is projected that the global urban population will grow 1.5 times to reach 6 billion. Thus, urbanization's expansion is stimulating the large cooking appliances market.
Which Firms Dominate The Large Cooking Appliance Market Segments?
Major companies operating in the large cooking appliance market are Samsung Electronics Co. Ltd., Whirlpool Corporation, Haier Group Corporation, Robert Bosch GmbH, AB Electrolux, GE Appliances, LG Electronics Inc., BSH Hausgeräte GmbH, Fisher & Paykel Appliances Co. Ltd., SMEG S.p.A, Miele & Cie. KG, KitchenAid, Thermador Groupe SA, Dacor LLC, Wolf Appliance, La Cornue, Bertazzoni SPA, ILVE SPA, Sub-Zero Inc., BlueStar Ltd., Capital Cooking Equipment, Tecnogas Superiore, American Range, AGA Rangemaster Ltd.
What Trends Are Expected to Dominate the Large Cooking Appliance Market in the Next 5 Years?
The Large Cooking appliance market is seeing product innovation as a primary trend gaining traction. Leading businesses in this market are engineering unique products to consolidate their market standing. For instance, 2022 witnessed Samsung, a Korean electronic device manufacturer, launch the Bespoke AI (artificial intelligence) Oven. This oven stands out with its smart features that enhance the experience of healthy eating. Leveraging an image-based food recognition system, AI Pro Cooking5, 6, this oven fine-tunes its cooking settings while monitoring the food to prevent overcooking. The Bespoke AI Oven comes with an array of steam cooking alternatives to create nutritious and delightful steamed meals.
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Which Is The Largest Region In The Large Cooking Appliance Market?
Asia-Pacific was the largest region in the large cooking appliance market in 2024. The regions covered in the large cooking appliance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Large Cooking Appliance Market?
2. What is the CAGR expected in the Large Cooking Appliance Market?
3. What Are the Key Innovations Transforming the Large Cooking Appliance Industry?
4. Which Region Is Leading the Large Cooking Appliance Market?
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