Skip to main content
Kitchen Appliances Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, China, India, Germany, France - Size and Forecast 2024-2028

Kitchen Appliances Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, China, India, Germany, France - Size and Forecast 2024-2028

Published: Mar 2024 165 Pages SKU: IRTNTR74570

Market Overview at a Glance

$64.03 B
Market Opportunity
5.31%
CAGR
4.73
YoY growth 2023-2024(%)

Kitchen Appliances Market Size 2024-2028

The kitchen appliances market size is forecast to increase by USD 64.03 billion at a CAGR of 5.31% between 2023 and 2028.

  • The kitchen appliance market is experiencing significant growth due to the increasing demand for premium and innovative smart appliances. Consumers are increasingly seeking multi-functional cooking appliances that offer convenience and advanced features. This trend is being driven by the advent of smart technology, which enables appliances to connect to the internet and be controlled remotely. However, the market is also facing challenges such as fluctuations in raw material prices and operational costs, which can impact the profitability of manufacturers. Producers must carefully manage these costs to remain competitive In the market. In addition, the market is witnessing a shift towards energy efficiency and sustainability, with consumers showing a preference for appliances that consume less energy and have a smaller carbon footprint.
  • Overall, the kitchen appliance market is poised for continued growth, driven by consumer demand for innovative and smart products, while also facing challenges related to cost management and sustainability.

    • What will be the Size of the Kitchen Appliances Market During the Forecast Period?

    Kitchen Appliances Market Size

     Request Free Sample

  • The market is experiencing robust growth, driven by the increasing demand for high-performing, energy-efficient products that cater to the evolving cooking needs of consumers. Modular kitchens with standalone ovens, cooktops, and other cooking appliances are gaining popularity, as they offer flexibility and convenience. Dual-income households and the rise of work-from-home trends are fueling the demand for kitchen appliances that save time and energy. Electricity cost concerns continue to influence the market, with energy-efficient products and sustainable solutions, such as renewable energy and solar energy, becoming increasingly important. The trend towards ready-to-eat food and home care products has led to an increase in demand for dishwashers, refrigerators, and range hoods.
  • Smart homes and the Internet of Things (IoT) are transforming the market, with smart home appliances, such as connected cooktops, ovens, and refrigerators, gaining traction. Multi-purpose gadgets, like blenders, air fryers, grillers, and other e-commerce offerings, are also driving growth. Electric and gas cooking appliances continue to dominate the market, with electricity becoming an increasingly popular cooking fuel due to its flexibility and ease of use. The market is also witnessing the emergence of e-commerce platforms and online shopping as key distribution channels. Overall, the market is poised for continued growth, driven by changing consumer preferences and technological advancements.

    • How is this Kitchen Appliances Industry segmented and which is the largest segment?

    The kitchen appliances industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

    • Application
      • Residential
      • Commercial
    • Distribution Channel
      • Offline
      • Online
    • Geography
      • APAC
        • China
        • India
      • North America
        • US
      • Europe
        • Germany
        • France
      • South America
        • Middle East and Africa

        By Application Insights

        • The residential segment is estimated to witness significant growth during the forecast period.

        The residential the market encompasses a range of products such as microwaves, cooktops, ovens, and specialty items. These appliances cater to both manual and smart technologies, streamlining cooking and cleaning tasks. Factors driving market growth include the expanding global population and the rise of dual-income households. The increasing number of households with at least one cooktop is also a significant contributor. Consequently, the growing demand for kitchen appliances from nuclear households will propel market expansion during the forecast period. Energy-efficient and smart home appliances, including refrigerators, dishwashers, and range hoods, are increasingly popular due to their cost savings and convenience.

        Additionally, the integration of IoT and connected devices in kitchen appliances is a key trend. The market for kitchen appliances is expected to witness significant growth due to the increasing adoption of technology-driven, high-performing, and multi-purpose gadgets such as induction cookers, air fryers, and food processors. The shift towards sustainable solutions, including renewable energy and solar energy, is also influencing the market. Online shopping and home renovation are major distribution channels, with repair costs and water scarcity influencing consumer behavior.

        Kitchen Appliances Market Size

        Get a glance at the  Kitchen Appliances Industry report of share of various segments Request Free Sample

        The Residential segment was valued at USD 98.34 billion in 2018 and showed a gradual increase during the forecast period.

        Regional Analysis

        • APAC is estimated to contribute 44% to the growth of the global market during the forecast period.

        Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

        Kitchen Appliances Market Share by Geography

        For more insights on the market share of various regions, Request Free Sample

        The Asia Pacific region dominates The market due to the increasing preference for homemade food and the expanding disposable income of consumers. Rapid urbanization in countries like India, China, Japan, and South Korea fuels the demand for advanced appliances such as refrigerators, dishwashers, and microwaves. The region's hectic lifestyle drives the need for time-saving and user-friendly appliances, contributing to market growth. E-commerce platforms and modular kitchen solutions facilitate the purchase of these appliances, making them accessible to a wider audience. Energy-efficient products, including standalone ovens, cooktops, and smart appliances, cater to the growing concerns of dual-income households and the environment.

        The integration of technology, such as IoT, smart homes, and connected devices, adds value to kitchen appliances, making them more desirable. The market also includes conventional and high-performing products, multi-purpose gadgets like grillers, blenders, and air fryers, and home care products. The increasing trend of work-from-home and the need for sustainable solutions further boost the demand for energy-efficient appliances.

        Market Dynamics

        Our  researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

        What are the key market drivers leading to the rise In the adoption of Kitchen Appliances Industry?

        Growing demand for premium and innovative smart kitchen appliances is the key driver of the market.

      • The market In the US is experiencing significant growth due to the increasing demand for technology-driven, energy-efficient, and smart appliances. E-commerce platforms have made it easier for consumers, particularly dual-income households, to purchase modern kitchen essentials such as modular kitchens, standalone ovens, cooktops, refrigerators, dishwashers, range hoods, and more. These appliances not only cater to cooking needs but also offer cleaning functions, water and energy savings, and convenience. The trend towards smart homes and connected devices, including the Internet of Things (IoT), has led to the popularity of smart appliances, such as smart cooking appliances, induction cookers, microwave ovens, air fryers, and food processors.
      • These appliances can be controlled via digital assistants, making cooking more efficient and convenient. Moreover, the market is witnessing a shift towards green products and sustainable solutions, such as renewable energy-powered appliances, like solar energy-powered ovens and refrigerators. This is in response to concerns about electricity cost, energy efficiency, and environmental sustainability. Innovative kitchen appliances, such as smart ovens with LCD displays, free-standing appliances, and built-in appliances, are increasingly popular. The market is also witnessing a rise In the demand for multi-purpose gadgets, like grillers, blenders, and coffee makers, that cater to various cooking and home care needs.
      • The market is expected to continue growing due to the increasing popularity of work-from-home arrangements, which necessitate the availability of high-performing products that save time and energy. The market is also witnessing significant investments in R&D to create new and improved products that cater to the evolving needs of consumers.

        • What are the market trends shaping the Kitchen Appliances Industry?

        Advent of multi-cooking functionalities in smart cooking appliances is the upcoming market trend.

      • The market In the US is witnessing significant growth due to the increasing adoption of e-commerce platforms for purchasing modern, technology-driven appliances. Modular kitchens are gaining popularity, with standalone ovens, cooktops, and smart refrigerators being top choices. Dual-income households prioritize energy-efficient products to reduce electricity costs. The demand for luxury products, such as smart appliances and connected devices, is on the rise, including refrigerators with LCD displays, smart ovens, and dishwashers. Emerging trends In the market include the integration of IoT and digital assistants, making cooking needs more convenient for consumers. Commercial and residential sectors are investing in green products, such as induction cookers and microwave ovens, to promote sustainability.
      • Energy-efficient appliances, including solar-powered refrigerators and stoves, are becoming increasingly popular. Smart home appliances, such as smart cooking appliances and food processing technology, are revolutionizing the way we cook and store food. Home care products, like air fryers and blenders, are essential for work-from-home individuals. The infrastructure sector and home renovation projects are driving the demand for innovative kitchen appliances. Repair costs and water scarcity are concerns for consumers, leading to the adoption of renewable energy solutions, such as solar energy, for cooking and refrigeration needs. The market for smart home appliances is expected to grow exponentially, with online shopping becoming the preferred choice for consumers.
      • In conclusion, the market In the US is experiencing a surge in demand for energy-efficient, multi-purpose gadgets, including smart cooking appliances, refrigerators, dishwashers, and home care products. The integration of IoT and digital assistants is transforming the way we cook, store, and clean, making our lives more convenient and efficient. The focus on sustainability and renewable energy solutions is a significant trend In the market.

        • What challenges does the Kitchen Appliances Industry face during its growth?

        Fluctuations in raw material prices and operational costs of kitchen appliances is a key challenge affecting the industry growth.

      • The market encompasses a range of technology-driven products, including cooktops, standalone ovens, microwave ovens, induction cookers, grillers, blenders, air fryers, refrigerators, dishwashers, range hoods, and various home care products. These appliances cater to the cooking needs of dual-income households and the growing trend towards ready-to-eat food. The market is witnessing a shift towards energy-efficient products, with a focus on sustainable solutions and renewable energy sources like solar energy. E-commerce platforms have significantly impacted the sales of kitchen appliances, enabling consumers to shop online for smart home appliances, smart cooking appliances, and innovative kitchen appliances. The Internet of Things (IoT) and connected devices, such as smart refrigerators with LCD displays and family hubs, have become increasingly popular.
      • The market dynamics are influenced by factors such as electricity cost, energy efficiency, and the increasing popularity of smart homes. Commercial and residential sectors are investing in green products and repair costs, with a focus on water scarcity and cooking fuel alternatives. The infrastructure sector and home renovation projects continue to drive demand for high-performing products and multi-purpose gadgets. Manufacturing costs, labor costs, and raw material prices impact the pricing of kitchen appliances. Metallic raw goods and components are expensive, and their prices fluctuate with international markets. The prices of raw materials directly impact the profit margins of manufacturers and the final cost to consumers.

        • Exclusive Customer Landscape

        The kitchen appliances market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the kitchen appliances market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

        Kitchen Appliances Market Share by Geography

         Customer Landscape

        Key Companies & Market Insights

        Companies are implementing various strategies, such as strategic alliances, kitchen appliances market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.

        Beko A and NZ Pty Ltd. - The company caters to the market through its brands Beko, Grundig, Leisure, Blomberg, and Flavel. These brands encompass a comprehensive range of appliances, ensuring consumer choice and innovation. With a focus on energy efficiency, design, and functionality, the company's offerings cater to diverse consumer needs. The brands' product portfolios include refrigerators, cooktops, ovens, dishwashers, and more. By prioritizing quality and technological advancements, the company maintains a competitive edge In the dynamic the market.

        The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

        • Beko A and NZ Pty Ltd.
        • BSH Hausgerate GmbH
        • Coway Co. Ltd.
        • Electrolux AB
        • General Electric Co.
        • Godrej and Boyce Manufacturing Co. Ltd.
        • Gourmia Inc.
        • Haier Smart Home Co. Ltd.
        • Havells India Ltd.
        • Koninklijke Philips N.V.
        • LG Electronics Inc.
        • MIDEA Group Co. Ltd.
        • Miele and Cie. KG
        • Newell Brands Inc.
        • Robert Bosch GmbH
        • Samsung Electronics Co. Ltd.
        • Sharp Corp.
        • Smarter Applications Ltd.
        • Weber Stephen Products LLC
        • Whirlpool Corp.

        Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

        Research Analyst Overview

        Kitchen appliances have become an integral part of modern residential and commercial spaces, catering to the diverse cooking needs of consumers. These high-performing products have evolved significantly over the years, transitioning from conventional to technology-driven appliances. The market for kitchen appliances is characterized by its dynamic nature, driven by various factors. One of the primary factors fueling the growth of the market is the increasing trend towards energy efficiency. With the rising electricity costs, consumers are increasingly opting for energy-efficient products. This has led to the development of smart home appliances that are designed to minimize energy consumption while maximizing performance.

        The Internet of Things (IoT) and connected devices have played a pivotal role in this evolution, enabling consumers to monitor and control their appliances remotely. Another factor driving the market is the changing lifestyle trends. With the rise of dual-income households and the increasing popularity of ready-to-eat food, there is a growing demand for appliances that can help save time and effort. Multi-purpose gadgets, such as air fryers, blenders, and food processors, have gained significant traction in recent years. The market for kitchen appliances is also being influenced by the shift towards sustainability. Consumers are increasingly conscious of their carbon footprint and are looking for green solutions.

        Renewable energy sources, such as solar energy, are being explored to power kitchen appliances. Induction cookers, for instance, have gained popularity due to their energy efficiency and environmental friendliness. The market for kitchen appliances is also being driven by the infrastructural sector and home renovation. With the increasing focus on modernizing homes, there is a growing demand for smart and innovative kitchen appliances. This has led to the emergence of modular kitchens, which offer a sleek and customizable solution for kitchen spaces. Despite the growth opportunities, the market for kitchen appliances is not without its challenges. Repair costs and water scarcity are two significant challenges that need to be addressed.

        The integration of renewable energy sources and the development of energy-efficient appliances can help mitigate these challenges. In conclusion, the market for kitchen appliances is a dynamic and evolving space, driven by various factors, including energy efficiency, lifestyle trends, sustainability, and technological advancements. The market is expected to continue growing, with a focus on developing smart and innovative products that cater to the changing needs of consumers.

        Market Scope

        Report Coverage

        Details

        Page number

        165

        Base year

        2023

        Historic period

        		 2018-2022

        Forecast period

        2024-2028

        Growth momentum & CAGR

        Accelerate at a CAGR of 5.31%

        Market growth 2024-2028

        USD 64.03 billion

        Market structure

        Fragmented

        YoY growth 2023-2024(%)

        4.73

        Key countries

        US, China, India, Germany, and France

        Competitive landscape

        Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

        Request Free Sample

        What are the Key Data Covered in this Kitchen Appliances Market Research and Growth Report?

        • CAGR of the Kitchen Appliances industry during the forecast period
        • Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
        • Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
        • Accurate predictions about upcoming growth and trends and changes in consumer behaviour
        • Growth of the market across APAC, North America, Europe, South America, and Middle East and Africa
        • Thorough analysis of the market’s competitive landscape and detailed information about companies
        • Comprehensive analysis of factors that will challenge the kitchen appliances market growth of industry companies

        We can help! Our analysts can customize this kitchen appliances market research report to meet your requirements.

        Get in touch

         

        Table of Contents not available.

        Research Methodology

        Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

        INFORMATION SOURCES

        Primary sources

        • Manufacturers and suppliers
        • Channel partners
        • Industry experts
        • Strategic decision makers

        Secondary sources

        • Industry journals and periodicals
        • Government data
        • Financial reports of key industry players
        • Historical data
        • Press releases

        DATA ANALYSIS

        Data Synthesis

        • Collation of data
        • Estimation of key figures
        • Analysis of derived insights

        Data Validation

        • Triangulation with data models
        • Reference against proprietary databases
        • Corroboration with industry experts

        REPORT WRITING

        Qualitative

        • Market drivers
        • Market challenges
        • Market trends
        • Five forces analysis

        Quantitative

        • Market size and forecast
        • Market segmentation
        • Geographical insights
        • Competitive landscape

        Interested in this report?

        Get your sample now to see our research methodology and insights!

        Download Now

        Frequently Asked Questions

        Kitchen Appliances market growth will increase by $ 64.03 bn during 2024-2028.

        The Kitchen Appliances market is expected to grow at a CAGR of 5.31% during 2024-2028.

        Kitchen Appliances market is segmented by Application( Residential, Commercial) Distribution Channel( Offline, Online)

        Beko A and NZ Pty Ltd., BSH Hausgerate GmbH, Coway Co. Ltd., Electrolux AB, General Electric Co., Godrej and Boyce Manufacturing Co. Ltd., Gourmia Inc., Haier Smart Home Co. Ltd., Havells India Ltd., Koninklijke Philips N.V., LG Electronics Inc., MIDEA Group Co. Ltd., Miele and Cie. KG, Newell Brands Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sharp Corp., Smarter Applications Ltd., Weber Stephen Products LLC, Whirlpool Corp. are a few of the key vendors in the Kitchen Appliances market.

        APAC will register the highest growth rate of 44% among the other regions. Therefore, the Kitchen Appliances market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.

        US, China, India, Germany, France

        • Growing demand for premium and innovative smart kitchen appliancesGrowing innovation and technological advances have changed consumer preferences and propelled the demand for innovative products. Customers also look for appliances that are eco-friendly is the driving factor this market.
        • have a user-friendly interface is the driving factor this market.
        • and can perform tasks with minimum energy. This has compelled vendors to continually engage in R and D and innovation to sustain themselves in the competitive market environment. The global kitchen appliances market witnesses major product innovations in terms of technology is the driving factor this market.
        • features is the driving factor this market.
        • performance is the driving factor this market.
        • and design. The global kitchen appliances market is also witnessing huge demand for smart appliances that are capable of not only performing tasks smartly but also helps in preparing various global dishes and grocery shopping. To meet the evolving needs of customers is the driving factor this market.
        • vendors are widening their product portfolios continuously. For instance is the driving factor this market.
        • LG Electronics Inc. offers a smart refrigerator is the driving factor this market.
        • namely is the driving factor this market.
        • the LG Smart Wi-Fi Enabled InstaView Door-in-Door refrigerator is the driving factor this market.
        • which allows the user to control its features remotely using a smartphone. The smart refrigerator is also compatible with Google Assistant and Amazon Alexa for voice control. Apart from this is the driving factor this market.
        • LG Electronics Inc. also offers the LG InstaView ThinQ Refrigerator is the driving factor this market.
        • with smart add-on features that allow users to upload photos between their smartphones and refrigerators is the driving factor this market.
        • as well as create and share shopping lists. Users can also check the contents of the refrigerator remotely. With growing purchasing power and rising disposable income is the driving factor this market.
        • customers are gradually increasing their spending on premium kitchen appliances. This has encouraged vendors to invest in innovative raw materials and technologies that have a positive impact on the performance of appliances and is the driving factor this market.
        • hence is the driving factor this market.
        • alter the interior aesthetic appeal of a house. To that extent is the driving factor this market.
        • the kitchen appliances vendors focus more on their pricing strategies to increase their bottom-line (profit) margins by setting premium pricing for innovative and tech-savvy products. Thus is the driving factor this market.
        • the growing demand for premium is the driving factor this market.
        • innovative appliances works as a price-metric parameter for the market participants is the driving factor this market.
        • which will further fuel the growth of the global kitchen appliances market during the forecast period. is the driving factor this market.

        The Kitchen Appliances market vendors should focus on grabbing business opportunities from the Residential segment as it accounted for the largest market share in the base year.