Household Cooking Appliances Market Overview, Challenges and Growth Opportunities Analysis till 2025

Posted on 2022-01-03 by researchinsights in Electronics // 0 Comments

San Jose, California , USA, Jan 01, 2022 — /EPR Network/ —

The Household Cooking Appliances Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.

Market Insights

The global household cooking appliances market size is anticipated to value USD 124.8 billion until 2025. It is also expected to register a CAGR of 6.5% over the forecasted years, 2019 to 2025. This growth can be associated with the rising preference over homemade food prevailing among the millennial population coupled with the integration of technologies like IoT in kitchen appliances for enhancing the ease of cooking.

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Usage of smart kitchen appliances for household cooking is gaining traction across developed countries like the U.S., Canada, and Germany. Several players are developing appliances that can be accessed remotely with the help of mobile devices. Thus, they can facilitate the cooking process by reducing time and energy consumption. These factors are projected to boost the market growth in the upcoming years.

In 2018, the cooktops & cooking range product segment held the largest share of around 46.0% across the global market due to surging demand for appliances like electrical and induction cooktops for regular cooking purposes. On the other hand, the segment of specialized appliances is projected to witness 5.5% CAGR from 2019 to 2025 due to their surging usage for the preparation of exotic dishes prevailing among the millennial population.

The household cooking appliance market includes key players such as Haier Group, AB Electrolux, LG Electronics, Koninklijke Philips NV, and Whirlpool Corporation. These players are engaged in developing innovative products by integrating technologies like AI and IoT in conventional kitchen appliances. Also, strategies like acquisitions, partnerships, and mergers are being implemented by these players to expand their geographical reach and product portfolio.

Household Cooking Appliance Product Type Outlook (Revenue, USD Million, 2014 – 2025)

Cooktops & cooking ranges
Gas
Electric
Induction
Others
Ovens
Conventional
Microwave
Combination
Specialized Appliances

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Household Cooking Appliance Regional Outlook (Revenue, USD Million, 2014 – 2025)

North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Asia Pacific
China
India
Japan
South America
Brazil
Middle East & Africa (MEA)

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