Household Cooking Appliance Market Trends, Size, Statistics (2022-30)
The global household cooking appliance market was estimated at USD 281.5 billion in 2021 and is expected to reach over USD 505.2 billion by 2030, poised to grow at a noteworthy CAGR of 6.7% from 2021 to 2030.
Growth Factors:
The rising disposable income, increasing demand for advance cooking appliances, increasing consumer expenditure on home improvement, and rising number of households due to the growth in the number of nuclear families across the globe are the various important macroeconomic factors that contributes towards the growth of the global household cooking appliance market. The increasing demand for the automated appliances to reduce human efforts has propelled the market players to invest in the research and development of the automated and technologically developed appliances. Moreover, the increasing popularity of the energy efficient cooking appliances is boosting the growth of the market across the globe. The changing lifestyle of the consumers and rising middle class has significantly driven the sales of the household cooking appliances. The market is driven by the easy availability of the appliances through various retail channels such as supermarkets, hypermarkets, and online retailers. These retail channels play an exceptional role in the distribution of the household cooking appliances among the end users.
The rising popularity of smart appliances that has features such as voice control, screens, and cameras is expected to drive the market growth during the forecast period. Moreover, technologies such as internet of things (IoT) and wireless connectivity that facilitates remote monitoring are the latest features that are capturing the consumers’ attention. Furthermore, the development of energy efficiency certified products is serving the cost conscious customers.
Report Scope of the Household Cooking Appliance Market
|
Report Coverage |
Details |
|
Market Size In 2021 |
USD 265 Billion |
|
Growth Rate From 2021 to 2030 |
CAGR of 6.7% |
|
Revenue Projection By 2030 |
USD 505.2 Billion |
|
Largest Market |
Asia Pacific |
|
Fastest Growing Market |
Middle East and Africa |
|
Base Year |
2021 |
|
Forecast Period |
2021 to 2030 |
|
Companies Mentioned |
Electrolux AB, Haier Group Corporation, Hitachi Appliances Inc., Midea Group, Robert Bosch GmbH, Samsung Group, Whirlpool Corporation, Morphy Richards, Philips, Haier Group, LG Electronics Inc. |
Household Cooking Appliance Market Share, By Structure, 2020 (%)
|
Structure Segment |
2020 (%) |
|
Freestanding |
60% |
|
Built-in |
40% |
Product Type Insights
Based on the product type, the cooktops & cooking ranges segment accounted for more than 45% of the market share in 2020. The rising adoption of modular kitchens coupled with availability of cooking appliances in varied sizes, easy to install feature, and easy to uses features are the significant drivers of the cooktops & cooking ranges. These appliances can be operated using gas and electricity. The induction cooktops gained immense traction among the consumers in the past especially in the regions like North America and Europe.
On the other hand, the oven segment is estimated to be the most opportunistic segment during the forecast period. The oven facilitates the households to cook restaurant like dishes. Moreover, the availability of various types of ovens such as microwave and combination ovens is another factor that serves the different needs of the consumers. Technological advancements in the oven segment is expected to boost its adoption among the consumers across the globe.
Structure Insights
Based on the structure, the freestanding segment accounted for over 60% of the market share in 2020. This is attributed to the easy availability, availability in different sizes, and easy maintenance of the freestanding cooking appliances. Moreover, the spare parts of the freestanding appliances are easily available. These appliances are require more spaces and are popular among the consumers.
On the other hand, the built-in segment is estimated to be the fastest-growing segment during the forecast period. This segment is gaining popularity as it serves the problem of space limitations of the household. The low and middle-income consumers having small kitchen spaces are increasingly adopting the built-in household cooking appliances and it perfectly serves the modular kitchen spaces. Hence, the segment is expected to grow at a significant rate.
Distribution Channel Insights
Based on the distribution channel, the offline segment dominated the global household cooking appliance market in 2020, in terms of revenue and is estimated to sustain its dominance during the forecast period. This can be attributed to the increased penetration of the supermarkets, hypermarkets, and specialty stores operating in the electronic household appliances. The huge popularity of these stores among the consumers made the offline segment a popular sales channel for the household cooking appliance across the globe.
On the other hand, the online segment is expected to be the most opportunistic segment during the forecast period. This is due to the rising penetration of internet, increasing adoption of smartphones, and growing number of internet users across the globe. According to the ITU, around 4 billion people were using internet by the end of 2019. Moreover, the rapidly growing online retail platforms such as Amazon, Flipkart, Wal-Mart, and eBay are contributing significantly towards the growth of the online sales channel across the globe.
Region Insights
Based on region, Asia Pacific region accounted for over 40% of the market share in 2020. This can be attributed to the presence of huge population, huge number of households, rising disposable income of the consumers, rising demand for the home improvement products, and the presence of top electronic manufacturers in the region. The world’s top electronic manufacturers are present in the nations like China, India, and South Korea and the various developmental strategies adopted by them significantly influences the markets across the globe. The availability of cheap factors of production in the region is another factor that makes the region the manufacturing hub of the world.
On the other hand, the Middle East and Africa is expected to be the most opportunistic market during the forecast period, owing to the rising penetration of the home improvement products, rising disposable income, and improving quality of life. The changing spending pattern of the consumers and changing lifestyle are the major drivers of the market in this region.
Some of the prominent players in the Household Cooking Appliance Market include:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
By Product Type
By Structure
By Distribution Channel
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Points Covered in Household Cooking Appliance Market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Household Cooking Appliance Market
5.1. COVID-19 Landscape: Household Cooking Appliance Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Household Cooking Appliance Market, By Product
8.1. Household Cooking Appliance Market, by Product Type, 2021-2030
8.1.1. Cooktops & Cooking Ranges
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Specialized Appliances
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Ovens
8.1.3.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Household Cooking Appliance Market, By Structure
9.1. Household Cooking Appliance Market, by Structure, 2021-2030
9.1.1. Freestanding
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Built-in
9.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Household Cooking Appliance Market, By Distribution Channel
10.1. Household Cooking Appliance Market, by Distribution Channel, 2021-2030
10.1.1. Offline
10.1.1.1. Market Revenue and Forecast (2019-2030)
10.1.2. Online
10.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 11. Global Household Cooking Appliance Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Product (2019-2030)
11.1.2. Market Revenue and Forecast, by Structure (2019-2030)
11.1.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.1.4.2. Market Revenue and Forecast, by Structure (2019-2030)
11.1.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.1.5.2. Market Revenue and Forecast, by Structure (2019-2030)
11.1.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.2. Market Revenue and Forecast, by Structure (2019-2030)
11.2.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.4.2. Market Revenue and Forecast, by Structure (2019-2030)
11.2.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.5.2. Market Revenue and Forecast, by Structure (2019-2030)
11.2.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.6.2. Market Revenue and Forecast, by Structure (2019-2030)
11.2.6.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.7.2. Market Revenue and Forecast, by Structure (2019-2030)
11.2.7.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.2. Market Revenue and Forecast, by Structure (2019-2030)
11.3.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.4.2. Market Revenue and Forecast, by Structure (2019-2030)
11.3.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.5.2. Market Revenue and Forecast, by Structure (2019-2030)
11.3.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.6.2. Market Revenue and Forecast, by Structure (2019-2030)
11.3.6.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.7.2. Market Revenue and Forecast, by Structure (2019-2030)
11.3.7.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.2. Market Revenue and Forecast, by Structure (2019-2030)
11.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.4.2. Market Revenue and Forecast, by Structure (2019-2030)
11.4.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.5.2. Market Revenue and Forecast, by Structure (2019-2030)
11.4.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.6.2. Market Revenue and Forecast, by Structure (2019-2030)
11.4.6.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.7.2. Market Revenue and Forecast, by Structure (2019-2030)
11.4.7.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.5.2. Market Revenue and Forecast, by Structure (2019-2030)
11.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.5.4.2. Market Revenue and Forecast, by Structure (2019-2030)
11.5.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.5.5.2. Market Revenue and Forecast, by Structure (2019-2030)
11.5.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)
Chapter 12. Company Profiles
12.1. Electrolux AB
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Haier Group Corporation
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Hitachi Appliances Inc.
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Midea Group
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Robert Bosch GmbH
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Samsung Group
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Whirlpool Corporation
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Morphy Richards
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Philips
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Haier Group
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
12.11. LG Electronics Inc.
12.11.1. Company Overview
12.11.2. Product Offerings
12.11.3. Financial Performance
12.11.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers