Global Kitchen Appliances Market to Grow at a CAGR of 4.6% During 2024-2032, Driven by the Introduction of Smart Appliances

The Asia Pacific region holds a significant market share due to growing disposable income, rising urbanisation, and rapid population growth. Cooking holds a significant place in Asian households, and in countries such as the Indian subcontinent, Japan, China, and South Korea, home-cooked meals find a special spot in their daily lives.

The growing hospitality sectors in countries like Indonesia, Thailand, the Maldives, and China, support the growth of the market for cooking appliances. The rising popularity of fast-food joints, street carts, and food trucks further propels the kitchen appliances market in the market expansion. In North America, the rising popularity of modular kitchen appliances and instant cooking appliances such as coffee machines and microwaves in corporate office spaces drives the market size.

Companies are moving towards sustainability and developing innovative kitchen appliances amid the growing environmental consciousness. For instance, in September 2023, LG Electronics, Inc. (NYSE: LPL) received International Environmental Product Declaration (EPD) certification for its premium refrigerators (600-litre models) MF-B6**, F62*****B, and M62******2(S). EPD certification helps consumers make more environmentally conscious decisions by giving them clear, reliable information about a product's impact on the environment.

Due to its sophisticated Inverter Linear CompressorTM, vacuum insulation, and optimised refrigeration cycle, the energy-efficient refrigerator lowers energy usage. LG believes that consumers looking to reduce their home’s energy use will be pleased with the product’s efficiency and newly granted EPD certification, which will positively influence the cooking appliances market growth.

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Market Analysis by Product, Fuel Type, End Use, Distribution Channel, and Region:

• The market, on the basis of product, can be divided into dishwashers, microwave ovens, refrigerators, mixers and grinders, and food processors, among others.

• Based on fuel type, the market can be divided into cooking gas and electricity, among others.

• The various end uses of kitchen appliances include residential and commercial.

• Based on distribution channel, the market can be divided into offline stores and online stores.

• The major regional markets for kitchen appliances include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Technological innovations such as the development of blue light technology, the integration of IoT in smart kitchen appliances, including refrigerators, microwaves, and turbo ovens, and the growing popularity of integrated kitchen apps in commercial kitchens drive the kitchen appliances market growth.

• Consumer awareness towards sustainability and their desire to reduce energy consumption drive the demand for energy-efficient kitchen appliances such as slow cookers, air fryers, combination microwaves, and dishwashers, among others.

• Government regulation standards such as the minimum energy efficiency standard by the US government and the ISI mark by the Indian government for energy efficiency and safety for consumers further contribute to the market growth.

• The growing social media influence and consumers’ preference for aesthetics and stylish designs are driving the preference for kitchen appliances with innovative designs and soothing colour palettes. Additionally, the growth of e-commerce and online retail fuels the market growth by providing a wide variety of appliances with doorstep delivery.

Key Offerings of the Report:

• The EMR report gives an overview of the global kitchen appliances market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the products, fuel types, end uses, distribution channels, and regions of kitchen appliance.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global kitchen appliances market are LG Electronics Inc., Haier Inc., Samsung Electronics Co., Ltd., Whirlpool Corporation, BSH Hausgeräte GmbH, Panasonic Corporation, AB Electrolux, Fisher & Paykel Appliances Ltd., SMEG S.p.A., and Miele & Cie. KG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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