Kitchen Appliances Market 2020 Industry Challenges, Business Overview and Forecast Research Study 2023
Category: #Technology  By Ronak Bora  Date: 2021-03-24
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Kitchen Appliances Market 2020 Industry Challenges, Business Overview and Forecast Research Study 2023

Global kitchen appliances market has emerged as one of the most lucrative verticals across the world. The industry is now projected to observe a substantial amount of growth in the coming years. Rising urbanization across throughout the world is likely to be a major factor augmenting market share through 2023. Rapidly shifting customer preference in the kitchen industry would also add up to the overall industry revenue.

Apart from growing urbanization, the rising food service sector would also outline the kitchen appliances market trends in the forthcoming timeframe. Domestic appliances are extensively used in the food service sector. In addition, several technological advancements for making more energy-efficient electronic products that are ecofriendly and also reduce overall operating costs should majorly influence the market trends.   

Apart from food service, the growing prevalence of e-commerce across tier 2 and tier 1 cities is likely to bring heavy growth opportunities for kitchen appliances market. Growing usage of e-commerce results in enhanced connectivity, customer convenience, and energy-saving attributes. Meanwhile, new rural electrification projects would also offer steady development opportunities for the industry.

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As people are spending more time at home on account of the covid-19 pandemic, kitchens have become busier than ever. The growing trend has boosted the sales of small kitchen cooking appliances including toasters, ovens, blenders, grillers, pressure cookers, induction cookers, and mixer-grinders. The sale volume of kitchen appliances was back to 2019 level amid the coronavirus pandemic.

The cooking appliances demand by 2023 will be driven by the expansion of the user-friendly portfolio of kitchen appliances such as portable coffee makers, microwaves, mixers, toasters, blenders, and advanced pressure cookers. The escalating demand from commercial sectors such as hospitality will ensure lucrative prospects in the next few years. In 2015, commercial appliances accounted for over US$65 billion in revenues and are expected to witness high growth across the residential segment.

The growing emphasis on utilizing solar power as a substitute for electricity by major companies would increase efficiency and minimize the operational cost of the manufacturing process. The escalating adoption of advanced cooking technologies over conventional methods of conserving food, cleaning, and cooking will lead to the development of innovative cooking appliances and will render greater convenience to consumers in cooking procedures.

The rising prevalence of e-commerce businesses in tier 1 and tier 2 cities have extended product reach to consumers living in remote areas. Improved consumer convenience, connectivity, and energy-saving attribute of e-commerce will provide tremendous growth opportunities for kitchen appliance market share. Also, improved internet connectivity coupled with rural electrification projects will ensure stable market expansion.

List of the Key Companies that are Operating in the Kitchen Appliances Market. They are as follows:

Dacor Inc., Electrolux, Haier, LG Electronics, Morphy Richards, Panasonic Corporation, Philips, Robert Bosch, Samsung Electronics, Whirlpool Corporation,

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Table Of Content:

Chapter 4    Kitchen Appliances Application Insights

4.1    Kitchen appliances market share by application, 2015 & 2023

4.2    Residential

4.2.1    Market estimates and forecast, 2012 - 2023

4.2.2    Market estimates and forecast by region, 2012 - 2023

4.3    Commercial

4.3.1    Market estimates and forecast, 2012 - 2023

4.3.2    Market estimates and forecast by region, 2012 - 2023

Chapter 5    Kitchen Appliances Product Insights

5.1    Kitchen appliances market share by product, 2015 & 2023

5.2    Cooking appliances

5.2.1    Market estimates and forecast, 2012 - 2023

5.2.2    Market estimates and forecast by region, 2012 - 2023

5.3    Refrigerators

5.3.1    Market estimates and forecast, 2012 - 2023

5.3.2    Market estimates and forecast by region, 2012 - 2023

5.4    Dishwashers

5.4.1    Market estimates and forecast, 2012 - 2023

5.4.2    Market estimates and forecast by region, 2012 - 2023

5.5    Others

5.5.1    Market estimates and forecast, 2012 - 2023

5.5.2    Market estimates and forecast by region, 2012 - 2023

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About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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