Household Cooking Appliances Market Is Expected To Reach Around USD 111.62 Billion By 2026 – ZMR Blog
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Household Cooking Appliances Market Is Expected To Reach Around USD 111.62 Billion By 2026

Zion Market Research has published a new report titled “Household Cooking Appliances Market By Product (Cooktops and Cooking Ranges, Ovens. and Specialized Appliances), By Application (Built-In and Free Standing), and By Distribution Channel (Hypermarkets/Supermarkets, B2B, E-Commerce, Specialty Retail, and Others): Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2018–2026”. According to the report, the global household cooking appliances market accounted for USD 68.21 billion in 2018 and is expected to reach around USD 111.62 billion by 2026, at a CAGR of 6.3% between 2019 and 2026.

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Household cooking appliances are an important part of an individual’s domestic life. These appliances help in meeting the basic needs of consumers, i.e., food. The household cooking appliances market is expected to grow remarkably over the forecast time period, owing to the rising number of nuclear families globally that has led to the increased purchase of these appliances. Families now prefer cooking appliances with the latest technology that help in food preparation at a quick pace without compromising the quality. Moreover, changing lifestyles and increasing disposable income are encouraging consumers to buy fancier cooking appliances, which will drive the household cooking appliances market in the years ahead. However, the high prices of these appliances may limit the household cooking appliances market, as these won’t be affordable for lower-middle-class families.

Global Household Cooking Appliances Market

The household cooking appliances market is fragmented based on the product, application, and distribution channel. The product segment includes specialized appliances, ovens, and cooktops and cooking ranges. Cooktops and cooking ranges will dominate the market, due to the use of the latest technology like IoT-enabled products that can be controlled by smartphones. The ovens segment is expected to witness moderate growth in the future, owing to the launch of new types of ovens with automatic features and simple control panels that make cooking easy. Microwave ovens have seen a significant surge in their sales in recent times, due to the increasing consumer demand.

By application, the household cooking appliances market includes built-in and free standing. The built-in segment is expected to witness moderate growth in the years ahead, owing to the flourishing real estate sector. Consumers now prefer homes that are full-furnished and have a quality built-in home appliance set-up.

By distribution channel, the market is classified into specialty retail, B2B, e-commerce, hypermarkets/supermarkets, and others. Hypermarkets/supermarkets are the major market distribution segment, due to their features like availability of different product types and brands, huge discounts, and tangibility. Moreover, the world is moving toward online, which will be driving the e-commerce segment growth in the future.

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North America is expected to grow significantly household cooking appliances market, owing to high disposable income and better standards of living of the regional population. Consumers in the region spend on quality household cooking appliances. The Asia Pacific household cooking appliances market will witness the highest rate of growth in the years ahead, owing to the changing lifestyles and rising number of nuclear families across the region.

Some key players in the household cooking appliances market are Haier Group, Koninklijke Philips, Hitachi, Electrolux, LG Electronics, Robert Bosch, The Whirlpool, Samsung, Miele, and Midea Group.

This report segments the global household cooking appliances market as follows:

Global Household Cooking Appliances Market: Product Analysis

  • Cooktops and Cooking Ranges
  • Ovens
  • Specialized Appliances

Global Household Cooking Appliances Market: Application Analysis

  • Built-In
  • Free Standing

Global Household Cooking Appliances Market: Distribution Channel Analysis

  • Hypermarkets/Supermarkets
  • B2B
  • E-Commerce
  • Specialty Retail
  • Others

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Global Household Cooking Appliances Market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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