Global Household Cooking Appliances Market is Anticipated to Reach US$ 127 Billion in Revenues by 2031: TMR Report

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Consumers’ growing desire for aesthetic designs and sustainable materials will drive the demand for household cooking appliances

Wilmington, Delaware, United States, July 27, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – According to Transparency Market Research, the market for household cooking appliances is expected to grow at a 6.3% CAGR from 2022 to 2031. According to a recent market study, the global market for household cooking appliances is expected to reach US$ 127 billion by 2031.

Cooking will take on a new meaning as smart appliances revolutionize modern kitchen design. Cooking is often made easier and more enjoyable through the purchase of convenient and efficient appliances.

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The concept of personalized cooking experiences was being explored by some manufacturers. There were a number of features involved in this process, including pre-set recipes tailored to each individual’s preferences, dietary requirements, or cooking habits.

Regional differences in cultural preferences, economic conditions, and consumer trends can influence appliance demand. With consumers becoming more environmentally conscious, sustainable and energy-efficient appliances are also gaining popularity.

Smart homes with technologically integrated cooking appliances and growing customization are expected to boost consumer demand for household cooking appliances. A voice-activated control system for cooking appliances is expected to become more popular in the future. Incorporating virtual assistants such as Amazon Alexa or Google Assistant enhanced accessibility and convenience for users.

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Market Snapshot:

 Report Coverage  Details
 Market Revenue  US$ 74.2 Bn
 Estimated Value  US$ 127.0 Bn
 Growth Rate –  CAGR  6.3%  
 Forecast Period  2023-2031
 No. of Pages  140 Pages
 Market Segmentation  By Type, By Placement, By Distribution Channel
 Regions Covered  North America, Europe, Asia Pacific, Middle East & Africa, South America
 Companies Covered  Electrolux AB, Haier Group Corporation, Hitachi, Ltd., Koninklijke Philips N.V., LG Electronics Inc., Midea Group, Miele & Cie. KG, Robert Bosch GmbH, Samsung Group, The Whirlpool Corporation, KENT RO Systems Ltd., Other key players

Key Findings of the Market Report

  • The popularity of baking shows and social media trends have increased demand for ovens in the household cooking appliance market.
  • The demand for air fryers will rise in the coming years as the trend towards healthy eating and a healthy lifestyle is set to grow in the market.
  • Modern kitchen designs and aesthetic upgrades are expected to drive demand for built-in household cooking appliances.
  • Increasing sales of kitchen appliances with easy installments and maintenance will drive demand for E-commerce websites.
  • As cooking becomes easier and faster for working women, the market is expected to see an increase in the popularity of household appliances such as electric kettles.

Global Household Cooking Appliances: Growth Drivers

  • With the development of economies and the availability of affordable kitchen appliances, the market is expected to grow. As connected kitchens get more popular, and appliances are integrated through the Internet of Things (IoT), market growth is expected to grow.
  • The integration of smart technology into household cooking appliances is expected to grow in demand over the coming years. Several manufacturers have incorporated IoT (Internet of Things) capabilities, allowing consumers to access their appliances remotely with mobile apps. In addition to remote temperature adjustment and recipe suggestions, the smartphone app offered monitoring of the cooking process.
  • Increasingly, consumers are seeking appliances that are versatile and can perform multiple functions. Appliances combining microwaves and convection ovens, and toasters and air fryers were highly sought after because of their space-saving capabilities.
  • The visual appeal of household cooking appliances is becoming increasingly important to consumers. The wide range of kitchen styles, colors, and finishes offered by manufacturers has made it easier for homeowners to choose what suits their needs and preferences.

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Global Household Cooking Appliances: Regional Landscape

  • Modern household cooking appliances and the growing use of high-speed ovens are expected to drive demand in North America.
  • Foodservice and the baking industries are expected to grow in the United States in the near future.
  • Growing populations and rising per capita income are expected to drive demand in the Asia Pacific region.
  • With the increase in disposable income and lifestyle changes, Indian women are increasingly turning to a more sophisticated kitchen, providing a more convenient and comfortable cooking experience.
  • Domestic kitchen appliance manufacturers have become a key hub in the Asia Pacific region driven by low labor costs and abundant raw materials that are expected to boost demand for household cooking appliances in the market.

Global Household Cooking Appliances Market: Key Players
Globally, a number of manufacturers dominate the household cooking appliances market. Companies as part of innovative strategies to gain incremental market share are implementing new product development and mergers and acquisitions. Various pricing points and diversified features are available at various price points by key manufacturers, according to the household cooking appliances industry research report.

  • On July 18, 2023, Livpure launched a new kitchen chimney product. A new product launch by the company marks its first entry into the kitchen market. In order to create a healthy environment in the kitchen, the company offers appliances that are reliable, innovative, and efficient.
  • On March 12, 2023, Arzooo announced a partnership with Dixon Technologies and Amber Group in order to offer high-quality and technologically advanced smart home appliances.

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Global Household Cooking Appliances Market: Segmentation

By Type

  • Cooktops & Burners
    • Gas Cooktops
    • Electric Cooktops
    • Induction Cooktops
    • Coil Cooktops
    • Others (Modular Cooktops, etc)
  • Ovens
    • Conventional Ovens
    • Convection Ovens
    • Microwave Ovens
    • Microwave Cum Convection Ovens
    • Oven Toaster Grill (OTG) Ovens
    • Others (Steam Ovens, etc)
  • Air Fryers
  • Electric Cookers
  • Chapati Makers
  • Toasters
  • Others (Electric Kettles, etc)

By Placement

  • Built-in
  • Free Standing

By Distribution Channel

  • Online
    • E-commerce Websites
    • Company-owned Websites
  • Offline
    • Specialty Stores
    • Hypermarkets & Departmental Stores
    • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

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