Key Market Overview:
Kitchen Appliances Market is projected to grow from USD 168.41 Billion in 2022 to USD 213.14 Billion by 2030, at a CAGR of 2.99% during the forecast period.
Kitchen appliances are electrical or mechanical devices used in the kitchen to make cooking and food preparation easier and more efficient. Kitchen appliances are widely utilized in households and other settings to meet daily cooking needs. Advanced kitchen appliances such as air fryersave gained popularity among both household cooks and professional chefs due to their ability to perform multiple tasks with ease.
The growing awareness among consumers about health and wellness is driving the demand for appliances that support healthier cooking and eating habits. Consumers are becoming health-conscious leading to increased demand for appliances that prepare healthy meals. Therefore, appliances such as juicers, blenders, and food processors are a popular choices for consumers to make nutritious and fresh food at home. For instance, in June 2021, BSH Home Appliances launched a new range of dishwashers that includes 19 new models. The new range is designed to offer consumers a variety of options to meet their different needs and preferences. Therefore, the growing inclination of consumers towards advanced kitchen appliances is driving the growth of the kitchen appliances market.
Busy lifestyles and changing food habits have led to increased demand for appliances that make cooking and food preparation easier and quicker. Kitchen appliances such as air fryers and steamers are becoming increasingly popular as consumers are interested in using fresh, whole ingredients to prepare meals. Furthermore, technological advancements such as smart kitchen appliances are one of the key factors boosting market growth. Smart kitchen appliances are equipped with internet connectivity and are controlled remotely using smartphones or other connected devices. For instance, in February 2023, Signature Kitchen Suite enhanced its smart kitchen connectivity by integrating LG’s ThinQ technology into its products. ThinQ technology is a platform that enables appliances to be controlled and monitored remotely using a smartphone app.
The market for kitchen appliances is highly competitive with a large number of manufacturers producing technologically advanced, energy-efficient kitchen appliances. Manufacturers need to differentiate their products from competitors in order to gain competitive advantage over other players operating in the market. Furthermore, the increasing availability of alternatives for cooking and food preparation, such as meal delivery services and meal kits has led consumers to favor these options over purchasing kitchen appliances. Therefore, the availability of alternatives in the market is restraining the growth of kitchen appliances market.
The integration of advanced technologies such as artificial intelligence (AI) with kitchen appliances is expected to present potential opportunities for the market growth during the forecast period. The utilization of AI technology in kitchen appliances is anticipated to enhance efficiency and precision by allowing the kitchen appliances to adjust to the specific requirements of the consumers. For instance, AI-powered ovens are projected to adjust the cooking time and temperature based on the food’s properties and desired outcome, resulting in more consistent and high-quality results. Therefore, the integration of artificial intelligence (AI) with kitchen appliances is anticipated to provide potential opportunities for market growth.
Kitchen Appliances Report Coverage:
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||USD 213.14 Billion|
|By Product Type||Refrigerators, Cooking Appliances, Dishwashers, and Others|
|By Fuel Type||Electric, Cooking Gas, and Others|
|By Sales Channel||Online and Offline|
|By End-User||Residential and Commercial|
|By Geography||North America, Europe, Asia Pacific
Latin America, Middle East and Africa
|Key Players||Electrolux AB, The Samsung Group, LG Electronics Inc., BSH Hausgeräte GmbH, The Whirlpool Corporation, Robert Bosch GmbH, Koninklijke Philips N.V., Miele, General Electric Company, Haier Group Corporation, Beko|
By Product Type
Based on the product type, the market is segregated into refrigerators, cooking appliances, dishwashers, and others. The cooking appliances segment accounted for the largest revenue share in 2022. Cooking appliances are essential for food preparation in kitchens and are used for a wide range of applications, including frying, roasting, grilling, and baking making cooking appliances a versatile and indispensable tool for cooking. For instance, in August 2022, KENT launched a new product called the Jewel Induction Cooktop. The product is designed to provide a quick and safe cooking experience for users.
The refrigerator segment is anticipated to register the fastest CAGR during the forecast period due to the increasing demand for energy-efficient and technologically advanced kitchen appliances such as refrigerators. Refrigerators are used for storing and preserving food, to increase the shelf life of food products. For instance, in January 2023, LG Electronics showcased its “InstaView Refrigerator” at the Consumer Electronics Show (CES) 2023. The InstaView Refrigerator is a spacious refrigerator that comes with a range of features that make it a great addition to any modern kitchen.
By Fuel Type
Based on the fuel type, the market is segmented into electricity, cooking gas, and others. The cooking gas segment holds the dominant share in the kitchen appliances market. Gas appliances are generally faster and more responsive providing precise temperature control that is particularly important in cooking. Moreover, gas-based cooking appliances are fueled by natural gas or propane that provides consistent heat source and allows chefs to cook or bake food evenly, further contributing to the growth of this segment.
The electric segment is anticipated to register the highest CAGR during the forecast period. Electric appliances offer several benefits, including ease of use, energy efficiency, and lower maintenance costs compared to appliances that run on other fuels such as cooking stoves. Electric appliances include induction cooktops that run on electricity providing a convenient cooking experience to consumers. For instance, in August 2021, Samsung launched a new smart induction cooktop that aims to help families save time and energy. The advanced cooktop is equipped with Wi-Fi connectivity, which allows users to control the cooktop remotely using a smartphone app.
By Sales Channel
Based on the sales channel, the market is bifurcated into online and offline. The offline channel dominates the market as kitchen appliances are available in a wide range of retail stores including electronics stores and home appliance stores. The offline channel holds a significant advantage as customers exhibit a preference for physical product testing before purchase, particularly for expensive items such as refrigerators, microwaves, and dishwashers. Offline stores provide the opportunity to understand product features and functionality to make appropriate decisions.
The online segment is expected to witness the fastest CAGR during the forecast period. The growth of this segment is attributed to the shift in customer behavior of shopping online through e-commerce websites, online marketplaces, and mobile applications. For instance, kitchen appliances such as microwaves, and air fryers are marketed globally through e-commerce platforms such as Amazon and Alibaba.
Based on application, the market is bifurcated into residential and commercial. The residential segment dominates the global market due to the increasing awareness of healthy eating habits among consumers. Changing lifestyle of people have led to the increasing demand for modern, stylish, and high-performance kitchen appliances that offer convenience and efficiency in cooking. The growth of the residential segment is attributed to the emergence of the COVID-19 pandemic compelling people to stay at home and prioritize safety, convenience, and energy efficiency in their daily activities.
The commercial segment is anticipated to grow during the forecast period due to the rise in online food delivery services. The increasing demand for speed and efficiency in food preparation has led to a demand for equipment that handles high volumes of food with consistent quality. Moreover, restaurants make proper utilization of efficient kitchen appliances to serve their customers in a better way. For instance, in October 2022, Indian Railways announced to set up ‘Restaurant on Wheels’ at 4 more stations in Maharashtra to give a different kind of dining experience to rail passengers with a modified coach mounted on tracks.
North America has dominated the market and generated the largest share in terms of revenue in 2022. The factors driving the growth of the market in North America are the presence of a large number of players operating in the kitchen appliances industry including General Electric Company and Whirlpool Corporation and others. Major corporations regularly use strategic partnerships, acquisitions, and new product launches to strengthen their market position.
Asia Pacific is projected to register the fastest CAGR growth during the forecast period owing to the rising demand for kitchen appliances in countries including Japan, India, and China. The kitchen appliances market in Asia-Pacific is experiencing growth acceleration due to the consumer shift towards electronically advanced appliances such as air fryers, and microwaves. Furthermore, the increasing number of restaurants and food delivery services in the region is driving the growth of the regional market. For instance, in October 2022, Japanese restaurant chain COCO ICHIBANYA opened a second outlet in India and the brand operates over 1400 outlets across cities such as Tokyo, London, Los Angeles, Singapore, and Bangkok.
Kitchen Appliances Market Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and Application launches have accelerated the growth of the kitchen appliances market. Key players in the market include-
- Electrolux AB
- The Samsung Group
- LG Electronics Inc.
- BSH Hausgeräte GmbH
- The Whirlpool Corporation
- Robert Bosch GmbH
- Koninklijke Philips N.V.
- General Electric Company
- Haier Group Corporation
- In October 2021, Whirlpool launched a series range of premium Quattro 4-door refrigerators for premium aesthetics.
- In March 2023, Fresco launched KitchenOS, an all-in-one connected kitchen platform for both appliance brands and home cooks. KitchenOS is a comprehensive software system that integrates with a range of kitchen appliances to create a connected kitchen ecosystem.
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