According to the latest report by IMARC Group, “Kitchen Appliances Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The global kitchen appliances market is expected to exhibit a growth rate (CAGR) of 4.18% during 2023-2028.
What is Kitchen Appliances?
Kitchen appliances represent devices and instruments used for efficiently performing kitchen activities. They operate by electricity or gas and are mainly utilized for cooking, storage, and cleaning purposes in the kitchen. In line with this, these appliances are available in a wide array of colors, materials, styles, sizes, mechanisms, etc., and include devices, including ovens, refrigerators, stoves, blenders, dishwashers, etc., which aid users in saving time, costs, and energy while cooking.
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What are the growth prospects and trends in the kitchen appliances industry?
The growing demand for technologically advanced and modern devices that make cooking and storing food more efficient and convenient is primarily augmenting the kitchen appliances market. Furthermore, the rising health consciousness, especially among the millennial population, is stimulating the adoption of healthy eating and cooking habits, which is bolstering the market growth. Apart from this, the increasing utilization of smart kitchen appliances that can be connected to wireless, Internet, or Bluetooth-based instruments and remotely controlled via a smartphone is acting as another significant growth-inducing factor. Moreover, the inflating need for appliances that allow oil-free cooking and retention of numerous heat-sensitive nutrients is further catalyzing the global market. Besides this, the introduction of modular and energy-efficient kitchen equipment, such as speed cooking ovens, induction cooktops, warming drawers, etc., with energy-rating labels by leading manufacturers to address the issue of high electricity consumption is positively influencing the global market. Additionally, the expanding e-commerce sector, improving living standards of individuals, and the development of Wi-Fi connected variants are expected to fuel the kitchen appliances market in the coming years.
What is included in market segmentation?
The report has segmented the market into the following categories:
Market Breakup by Product Type:
Refrigerators
Microwave Owens
Induction Stoves
Dishwasher
Water Purifiers
Others
Market Breakup by Structure:
Built-In
Free Stand
Market Breakup by Fuel Type:
Cooking Gas
Electricity
Others
Market Breakup by Application:
Residential
Commercial
Market Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Specialty Stores
Online Stores
Departmental Stores
Others
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Whirlpool Corporation
AB Electrolux
Samsung Electronics Co. Ltd.
LG Electronics
Winia Daewoo Electronics
Panasonic Corporation
Haier Group Corporation
BSH Hausgerte GmbH
Miele Cie. KG
Sub-Zero Group, Inc.
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