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Global Household Cooking Appliance Market Size to Cross 261.23 Billion in 2020 at a 6.6% CAGR Growth (with COVID-19 Analysis)

 
Global Household Cooking Appliance Market is estimated to reach USD 261.23 Billion in 2020. This growth rate (CAGR), is anticipated to increase at 6.6% between 2021-2028
 

Hot air convection ovens are preferable to static heating ovens for consumers.Furthermore, the CAGR for the ecommerce segment of global market is expected be very high during the analysis period.Because of their convenience and lower prices, household appliance buyers prefer ecommerce websites.E-commerce is anticipated to outsell retail sales over the next few years.To facilitate the development of home appliances, manufacturers have begun to collaborate with e-commerce sites.

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Household Cooking Appliance Market: Drivers

There are many key drivers in the market for household cooking equipment.

First, consumers have more disposable incomes which are driving greater demand for these appliances. These appliances are also in demand because of the increasing number of nuclear families. Each family member wants their own appliance.

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Market growth is being driven by increasing awareness about the many health benefits associated with cooking at home. A preference is being shown for appliances that can be used quickly and easily due to the hectic lifestyles of consumers.

Household Cooking Appliance Market: Restraints

The main challenges and limitations in the household cooker market are product differentiation, reliable and efficient products, product development and innovation, and product differentiation. It is important to differentiate products to be competitive and to retain customers. To meet customer needs and offer value for money, reliable and efficient products must be available. It is important to constantly develop new products to meet market needs and provide customers with innovative products. Innovation is key to meeting customers’ needs and providing value for money.

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Household Cooking Appliance Market Key Trends:

  • The main factors expected to drive growth in the global market for household cooking appliances are changing consumer habits, rising population, and growing consumer awareness.
  • Due to their busy schedules and increasing work hours, working women are more likely to invest in or spend on high-tech cooking appliances. This saves time and makes cooking much easier.
  • The market is anticipated to grow due to a rising number of nuclear families and improved living standards in developing nations. There will also be an increase in the availability of high tech equipment.
  • Smart kitchens are used in developed countries like Canada, Germany, and the US. Artificial Intelligence is growing in popularity. It allows users to remotely control and access multiple smart kitchen appliances via mobile devices. This is anticipated to increase market expansion.
  • An electric cooktop is compatible with cooking vessels made from iron or steel. However, it is not compatible with those made of copper and aluminium because of its electrical and magnetic properties. Likely, electric cooktops will not be compatible with all cooking vessels.
  • A barrier to growth in the market for household kitchen appliances is the rising preference for take-out and out-of-home meals.
  • The market is anticipated to grow faster due to rising consumer spending on expensive cooking equipment in urban areas. The market will grow if manufacturers introduce innovative, durable, and user-friendly devices.

Recent development:

  • Blue Apron meal kit company partnered with Panasonic Consumer Electronics on January 20, 2022. Blue Apron, a partner in this partnership will offer affordable cooking options for selected recipes using the Panasonic 4-in-1 multi-oven.
  • On November 20,21, Samsung Electronics partnered with Mindful Chef, a British retailer of food. This partnership will offer a variety of kitchen products, including Dual Cook Flex ovens, Infinite Line Ovens, and microwaves. It is designed to help Mindful Chef achieve its goal of making healthy food easy.
  • Side Chef, a world-renowned culinary platform, expanded its partnership with Panasonic on September 2020. This partnership was created to help make cooking at home easier and more enjoyable.

Scope of the Report

AttributeDetails
Market Size in 2022USD 261.23 Billion
Growth Rate6.6%
Historical Years2016-2020
Base Year2021
Quantitative UnitsUSD In Bn
No. of Pages in Report200+ Pages
No. of Tables & Figures150+
FormatPDF/Excel
Direct Order This ReportAvailable- To Purchase This Premium Report Click Here

Key Market Players:

  • Samsung Electronics Co. Ltd.
  • LG Electronics
  • Miele Group
  • Whirlpool Corporation
  • Midea Group Co. Ltd.
  • Koninklijke Philips N.V.
  • Hitachi Appliances Inc.
  • AB Electrolux
  • GE Appliances
  • Robert Bosch GmbH

Type

  • Cooktops and Cooking Ranges
  • Ovens
  • Specialized Appliances

Application

  • Household
  • Commercial

Industry, By Region

  • Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
  • Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
  • North America [United States, Canada, Mexico]
  • Middle East & Africa [GCC, North Africa, South Africa]
  • South America [Brazil, Argentina, Columbia, Chile, Peru]

Key questions:

  • What factors are driving the domestic cooking appliance market?
  • Who are the main players in the domestic cooking appliance market?
  • What are the main developments in customer demands given the changing economy?
  • What are the most successful strategies for companies in the Household Cooking Appliances Market?
  • What are the most recent activities and research in the Household Cooking Apparatus Market?
  • What are the major segments of the market’s key players?
  • What is the market size for 2022?

More Related Reports from Our Market.us Site:

Dishwashers Market was worth USD 7.9 Billion in 2021. It is projected to grow at a CAGR of 7.9% between 2023 and 2032.

Commercial Kitchen Appliances Market was valued at USD 89.19 Billion in 2021 and is forecast to grow at a 6.6% CAGR

Global Flatbread Market is projected to be USD 212.81 Bn in 2021 to reach USD 279.26 Bn by 2031 at a CAGR of 2.8%.

Global Food Service Equipment Market was valued at USD 32.59 Bn in 2018 and is projected to increase significantly at a CAGR of 6.9% from 2019 to 2028.

Global Meal Kit Delivery Services Market was valued at USD 16,121 million in 2021. It is estimated to experience a CAGR of 16.8% between 2023 and 2032.

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Editor in chief for eTurboNew is Linda Hohnholz. She is based in the eTN HQ in Honolulu, Hawaii.

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