Household Cooking Appliance Global Market Report 2024

The household cooking appliance market size has grown strongly in recent years. It will grow from $136.89 billion in 2023 to $147.49 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth observed in the historical period can be attributed to several factors, including the electrification of households, evolving lifestyles, the implementation of energy efficiency and safety standards, the increasing costs of home improvement, and the adoption of modular kitchen designs.

The household cooking appliance market size is expected to see strong growth in the next few years. It will grow to $193.36 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. Anticipated growth in the forecast period can be attributed to various factors, including the integration of smart home technologies, a growing emphasis on sustainability and energy efficiency, the influence of health and wellness trends, increased home cooking, the effects of urbanization and smaller living spaces. Additionally, key trends expected in the forecast period encompass the adoption of induction cooking, the development of multifunctional appliances, the use of sustainable materials, the implementation of voice and app-based controls, and a resurgence of retro and vintage design elements in household cooking appliances.

The surge in demand for energy-efficient cooking appliances is anticipated to drive the market for electric stoves. Electric stoves exhibit higher cooking efficiency compared to gas cooktops, as a significant portion of heat energy is lost with gas cooktops during cooking. Electric stoves are engineered for minimal energy consumption and provide easy temperature regulation. Notably, the introduction of energy-efficient appliances in the US has led to a 56% reduction in government spending on energy, consequently lowering emissions.

The primary products within the household cooking appliance category include electric stoves, microwave ovens, barbecues and grills, as well as various other cooking devices. Electric stoves, also known as electric ranges, incorporate an integrated electrical heating component for cooking and baking purposes. Some modern stoves are equipped with built-in extractor hoods for ventilation. Electric stove burners may be controlled using a rotary switch with preset positions, each engaging different resistance levels and, therefore, varying heating power. Alternatively, they may feature an infinite switch known as a simmer stat, and some models may include a thermostat for precise temperature control. The main fuels used in household cooking appliances are cooking gas and electricity. These appliances find utility in both household and commercial applications.

The household cooking appliances market research report is one of a series of new reports that provides household cooking appliances market statistics, including household cooking appliances industry global market size, regional shares, competitors with a household cooking appliances market share, detailed household cooking appliances market segments, market trends and opportunities, and any further data you may need to thrive in the household cooking appliances industry. This household cooking appliances market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Anticipated growth in the household cooking appliance market is attributed to the rise in kitchen remodeling activities. Kitchen remodeling involves refurbishing kitchen spaces, often encompassing upgrades to appliances, cabinets, countertops, and other elements to enhance functionality and aesthetics. This surge in remodeling drives the demand for upgraded household kitchen appliances, aligning with the evolving designs and features of renovated kitchens. In April 2022, Houzz, a US-based home remodeling and design platform company, reported that about 36% of recent homebuyers invested in kitchen renovation projects. Additionally, homeowners increased their spending on kitchen remodeling by 25%, with median expenses for both large and small renovations rising from $12,000 in 2020 to $15,000 in 2021.

A limiting factor for the market is the restricted compatibility of electric cooktops with certain types of cooking vessels. Electric cooktops are compatible with cookware made of cast iron and steel, but incompatible with aluminum and copper vessels due to their magnetic and electrical properties. The latter materials necessitate significantly higher frequencies to generate the heat required for cooking, posing a challenge for electric cooktops.

Companies within the household cooking appliance market are progressively introducing technologically advanced multi-functional ovens to meet the escalating demand for versatile appliances offering added advantages. These ovens employ various methods to enable customized and simplified cooking experiences. Equipped with guiding and instructional devices, they also incorporate catalytic and pyrolytic self-cleaning functions. Catalytic self-cleaning utilizes specialized chemically treated liners to absorb grease, while pyrolytic self-cleaning functions employ high temperatures to eliminate dirt and grease. For instance, Electrolux’s EOY5851AAX oven utilizes diverse programs and functions, including pyrolytic cleaning technology for self-cleaning capabilities.

Key players in the household cooking appliance market are embracing smart appliance technologies to improve user convenience, streamline cooking procedures, and deliver tailored culinary experiences. Smart kitchen appliances represent advanced cooking and food preparation devices integrated with sensors, connectivity, and automation to optimize kitchen tasks. In January 2023, VersaWare Technologies Inc., a US-based manufacturer of smart kitchen appliances, unveiled the next generation of smart kitchen devices centered on a nutrition AI approach to enhance health and wellness. Their product line includes two connected smart kitchen appliances - a mixing bowl and a cutting board - accompanied by the VersaWare mobile app. This app assists users in cooking meals aligned with their preferred nutritional objectives, leveraging an extensive product database through OpenAPI. Users can scan barcodes for packaged items and input details for fresh ingredients, facilitating nutritional calculations within the digital appliances. The integrated AI system enables real-time meal creation based on nutritional profiles, presenting comprehensive meal nutrition information.

In February 2022, Spectrum Brands, a US-based manufacturing company, completed the acquisition of Tristar Products for an undisclosed sum. This acquisition is part of Spectrum Brands' strategy to expand its range of cookware and kitchen appliances. Tristar Products, a US-based company specializing in household cooking appliances, joins Spectrum Brands, contributing to the enhancement and diversification of their product portfolio in the cooking appliance market.

Major companies operating in the household cooking appliance market include LG Electronics Inc., Electrolux AB, Panasonic, Haier Group, Whirlpool Corporation, SMEG S.p.A., Kenmore, Samsung Electronics, Galanz Enterprise Group, Koninklijke Philips N.V., Alto-Shaam Inc., Robert Bosch GmbH, The Coleman Company Inc., Spectrum Brands Holdings Inc., Amana, Miele & Cie. KG, General Electric Company (GE), The Middleby Corporation LLC, Char-Broil LLC, Midea Group Co. Ltd., Frigidaire, KitchenAid, Sears Holdings Corporation, Broilmaster, Traeger Inc., Empire Comfort Systems Inc., Blackstone Products Inc., Groupe SEB, TTK Prestige Ltd., BSH Hausgeräte GmbH, Arcelik A.S., Gorenje Group

Asia-Pacific was the largest region in the household cooking appliances market in 2023. Western Europe was the second-largest region in the household cooking appliance market analysis. The regions covered in the household cooking appliance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the household cooking appliance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The household cooking appliances market consists of sales of cookers, steamers, gas cooktops, stone stoves, metal stoves, ceramic stoves, convection microwave ovens, grill microwave ovens, solo microwave ovens, charcoal barbecues grills, gas barbecues grills, electric barbecues grills, thermal ovens, and other household cooking appliances. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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