Press Release
Press Release
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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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.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product |
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Breakup by Fuel Type |
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Breakup by End Use |
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Breakup by Distribution Channels |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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