According to the latest report by IMARC Group, titled, “Kitchen Appliances Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, The global kitchen appliances market reached a value of US$ 266 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.7% during 2021-2026.
Kitchen appliances comprise refrigerators, food processors, blenders and dishwashers, which are employed in the smooth functioning of kitchen activities. They are mainly operated by electricity or gas and are used for cooking, storing and cleaning purposes. Kitchen appliances are available in a wide range of colors, sizes, mechanisms and materials that help users in saving time, cost and energy while cooking.
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Market Trends
The inflating income levels and changing lifestyles of people have resulted in the increasing adoption of smart kitchen appliances across the globe. Apart from this, manufacturers are incorporating wireless, internet or Bluetooth technologies in various products, which is impelling the market growth. They are also introducing modular and energy-efficient kitchen equipment such as induction cooktops, speed cooking ovens and warming drawers. Furthermore, altering eating patterns and increasing health consciousness among the young population is catalyzing the demand for homecooked food. This is consequently boosting the overall sales of kitchen appliances in the residential sector. Looking forward, the market is expected to continue its moderate growth during the next five years., according to a new report by IMARC Group.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Breakup by Product Type:
- Refrigerators
- Microwave Owens
- Induction Stoves
- Dishwasher
- Water Purifiers
- Others
Market Breakup by Structure:
- Built-In
- Free Stand
Market Breakup by Fuel Type:
- Cooking Gas
- Electricity
- Others
Market Breakup by Application:
- Residential
- Commercial
Market Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
- Departmental Stores
- Others
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Whirlpool Corporation
- AB Electrolux
- Winia Daewoo Electronics
- BSH Hausgerate GmbH
- Miele & Cie. KG
- Sub- Zero Group, Inc.
- Electrolux
- Whirlpool
- Samsung
- Philips
- Morphy Richard
- Dacor
- General Electric (GE)
- Life is Good (LG)
- Haier
- Panasonic.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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