Electric Kettle Market to Heat Up to $6.08 Billion by 2031, Driven by 4.2% CAGR From 2021-2031

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 research provides a current evaluation of the global market landscape, highlighting recent trends, key drivers, and the overall market environment. The study examines the main factors influencing industry expansion, analyzing both its growth drivers and restraints. Additionally, it sheds light on factors expected to offer promising opportunities for development of industry in the future. The global electric kettle market was valued at $4.06 billion in 2021, and is projected to reach $6.08 billion by 2031, growing at a CAGR of 4.2% from 2021 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.

Electric kettles have high traction in the market, owing to rise in number of working women coupled with surge in demand for smart kitchen appliances that save time, energy, and allow them to cook food quickly and increase workload and busy & hectic lifestyle of consumers. Moreover, rise in popularity of coffee and tea encourages consumers to use electric kettle.

Furthermore, increased investment in commercial space such as airports, hospitals, hotels, and restaurants as well as customers' regular visits to restaurants and hotels drive the demand for innovative electronic kitchen appliances. As per the CXOs, major obstacles attributed to the pandemic was disruption of supply chain. Furthermore, all distribution channels were nearly shut down in the first quarter of the pandemic. However, online channels such as Amazon, Flipkart, and Alibaba were operating during the pandemic.

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.

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.

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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.

Exploring Growth Prospects and Demand Trends in the Electric Kettle:

Consumer Preferences: Understanding consumer preferences is crucial in predicting growth prospects. Consumers today are increasingly valuing convenience, energy efficiency, and design aesthetics in their appliances. Electric kettles offer quick boiling times, automatic shut-off features, and sleek designs that appeal to modern consumers.

Technological Advancements: Advancements in technology have led to the development of electric kettles with various features such as temperature control, keep-warm functions, and programmable settings. Manufacturers are also focusing on improving energy efficiency and safety features, which can drive demand among environmentally-conscious consumers.

Market Competition: The electric kettle market is highly competitive with numerous players offering a wide range of products across different price points. Established brands often compete based on product quality, brand reputation, and innovation. However, there are also opportunities for smaller players to enter niche markets with unique features or designs.

Environmental Concerns: Increasing awareness of environmental issues is influencing consumer purchasing decisions. Energy-efficient electric kettles that consume less power and minimize water wastage are becoming more popular. Additionally, there is a growing demand for products made from sustainable materials and with eco-friendly manufacturing processes.

Market Segmentation: The electric kettle market can be segmented based on factors such as capacity (e.g., small, medium, large), material (e.g., stainless steel, glass, plastic), and price range. Analyzing consumer demographics and preferences within each segment can provide insights into demand trends and growth opportunities.

Regional Trends: Demand for electric kettles may vary across different regions due to cultural preferences, infrastructure development, and economic factors. Emerging markets with a growing middle class, such as parts of Asia and Africa, present significant growth opportunities for electric kettle manufacturers.

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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○ Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
○ Create regional and country strategies on the basis of local data and analysis.

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FREQUENTLY ASKED QUESTIONS:

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Read More Trending "AMR Exclusive Insights:

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

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

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

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

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

➢ 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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