The Global Kitchen Appliances Market size is expected to reach $336.1 billion by 2030, rising at a market growth of 6.2% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,62,291.1 thousand Units experiencing a growth of 6.6% (2019-2022).
Energy-efficient refrigerators have features like better insulation, improved compressor technology, and advanced temperature control, reducing energy consumption while keeping food fresh. Therefore, Refrigerator segment would capture 2/5th share of the market by 2030. As a result, the need for more sustainable and cost-effective kitchen appliances continues to rise, manufacturers will likely invest in further innovation and product development in this sector, leading to continued market growth. Customers are becoming more knowledgeable about the benefits of energy-efficient appliances, increasing demand for these products.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In January, 2022, Whirlpool launched Air Fry Mode and Yummly Smart Thermometer connectivity oven. Through this launch, the company aimed to provide households with more ways to take care of each other. Moreover, In March, 2021, Royal Philips introduced grinder-HL7777/00, a high-performance silent mixer. This new product is revolutionized by Philips following insights from users that highlighted to Indian houses rapidly demanding mixer grinders, which would offer a household surrounding with less noise along with providing better performance.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Whirlpool Corporation, AB Electrolux, Haier Smart Home Co., Ltd. (Haier Group Corporation), Robert Bosch GmbH, Samsung Electronics Co., Ltd. (Samsung Group), Koninklijke Philips N.V., Panasonic Holdings Corporation, Morphy Richards (Guangdong Xinbao Electrical Appliances Holdings Co., Ltd), LG Electronics, Inc. (LG Corporation) and Illinois Tool Works, Inc.
Energy-efficient refrigerators have features like better insulation, improved compressor technology, and advanced temperature control, reducing energy consumption while keeping food fresh. Therefore, Refrigerator segment would capture 2/5th share of the market by 2030. As a result, the need for more sustainable and cost-effective kitchen appliances continues to rise, manufacturers will likely invest in further innovation and product development in this sector, leading to continued market growth. Customers are becoming more knowledgeable about the benefits of energy-efficient appliances, increasing demand for these products.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In January, 2022, Whirlpool launched Air Fry Mode and Yummly Smart Thermometer connectivity oven. Through this launch, the company aimed to provide households with more ways to take care of each other. Moreover, In March, 2021, Royal Philips introduced grinder-HL7777/00, a high-performance silent mixer. This new product is revolutionized by Philips following insights from users that highlighted to Indian houses rapidly demanding mixer grinders, which would offer a household surrounding with less noise along with providing better performance.
Cardinal Matrix - Market Competition Analysis
Based on the Analysis presented in the Cardinal matrix; Samsung Electronics Co., Ltd. is the major forerunner in the Market. In January, 2023, Samsung Electronics Co., Ltd. launched its Bespoke Home lineup, including a wider selection of Bespoke refrigerator types. The launched product would be created to meet a growing demand for customization and offer a new level of intelligent connectivity that empowers users to be more sustainable in the kitchen. Companies such as Panasonic Holdings Corporation, LG Electronics, Inc. (LG Corporation) and Haier Group Corporation are some of the key innovators in the Market.Market Growth Factors
Rising demand for smart home appliances
Smart home appliances offer a high level of convenience by allowing users to control and monitor them remotely. This means one can adjust settings, turn appliances on or off, and receive status updates from anywhere, making daily life more convenient and efficient. Smart appliances can automate various household tasks, saving time for users. Many smart appliances are designed with energy-saving features. They can be programmed to manage during off-peak hours or automatically enter energy-saving modes when not in use. This not only saves energy but also reduces utility costs. Smart home appliances can be integrated into larger ecosystems, allowing users to create custom automation routines. The above factors will drive the market growth in the coming years.Rising residential and commercial housing facilities
The construction of new residential and commercial buildings results in installing kitchen appliances in these spaces. This includes ovens, refrigerators, cooktops, dishwashers, and more, driving demand for a wide range of kitchen appliances. Existing housing facilities, both residential and commercial, often undergo renovations and upgrades. During these projects, homeowners and businesses frequently invest in new kitchen appliances to modernize their spaces, improve energy efficiency, and enhance functionality. The ownership and management of rental properties, including apartments, condos, and commercial spaces, require the provision of kitchen appliances for tenants. Investors and property owners often invest in these appliances as part of their property management strategy. This trend supports the growth of the market.Market Restraining Factors
Intense competition between multiple competitors
Intense competition can result in imitation products that closely mimic the design and features of successful appliances. This can confuse consumers and make it difficult for innovative brands to stand out. In order to capture consumers' attention in a crowded market, companies may need to spend significant amounts on advertising and marketing efforts, increasing expenses. The existence of multiple competitors in the market can lead to fragmentation, with various brands vying for a market share. This fragmentation can make it challenging for smaller players to gain visibility and compete effectively. The above factors will decline the market growth in the coming years.Product Structure Outlook
On the basis of product structure, the market is classified into built-in and free stand. The built-in segment recorded a remarkable revenue share in the kitchen appliance market in 2022. Built-in appliances offer a sleek, cohesive appearance that enhances the overall look and feel of the kitchen. They can be customized to match the cabinetry and kitchen decor. Built-in appliances offer flexibility in design and layout, permitting homeowners to create a kitchen that fits their needs and preferences. A kitchen with well-designed built-in appliances can add significance to a home and make it more appealing to potential buyers. Appliances integrated into cabinets reduce the risk of tripping hazards and provide a safer kitchen environment.Fuel Type Outlook
By fuel type, the market is categorised into electric, cooking gas, and others. In 2022, the electric segment registered the highest revenue share in the market. Electric appliances are known for their energy efficiency, converting electricity into usable energy with minimal waste. They are often designed to perform tasks quickly and with precision. Electric kitchen appliances are user-friendly and easy to operate, making meal preparation and cooking more convenient for individuals with varying levels of culinary expertise. These appliances can significantly reduce the time required for cooking and food preparation. They automate many tasks and processes, allowing them to multitask and save time in the kitchen.User Application Outlook
Based on user application, the market is fragmented into commercial and household. The commercial segment garnered a significant revenue share in the kitchen appliance market in 2022. Commercial kitchens require appliances that can handle high volumes of food preparation efficiently. Appliances that can chop, blend, cook, or bake quickly and consistently are essential for meeting the demands of a busy restaurant or catering operation. Commercial kitchen appliances are built with health and safety regulations in mind. Increasing demand to replace aging appliances, shifting consumer preferences, and rising disposable income will all contribute to the growth of the residential market during the forecast period.Product Type Outlook
On the basis of product type, the market is segmented into refrigerator, cooking appliances, dishwasher, and others. In 2022, the refrigerator segment dominated the market with the maximum revenue share. There is a growing need in the commercial sector for food and beverage storage and merchandising purposes. Refrigeration prevents the proliferation of harmful pathogens and foodborne illnesses by keeping food at safe temperatures. It helps ensure that food remains safe for consumption. Many modern refrigerators come with adjustable shelves, compartments, and drawers, allowing consumers to customize the storage space and keep their food items organized. Additionally, the replacement of outdated products with newer, more advanced alternatives is expected to boost demand for these items in the future years.Regional Outlook
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region generated the highest revenue share in the market. There is an increase in the adoption of smart kitchen appliances due to the rise in modular kitchens among consumers. Consumers wish to own kitchen appliances that are technology-driven and easy to operate. An increase in the working-class population fosters the demand for efficient kitchen appliances. This provides ample growth opportunities for the companies to launch innovative kitchen appliances in North America.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Whirlpool Corporation, AB Electrolux, Haier Smart Home Co., Ltd. (Haier Group Corporation), Robert Bosch GmbH, Samsung Electronics Co., Ltd. (Samsung Group), Koninklijke Philips N.V., Panasonic Holdings Corporation, Morphy Richards (Guangdong Xinbao Electrical Appliances Holdings Co., Ltd), LG Electronics, Inc. (LG Corporation) and Illinois Tool Works, Inc.
Strategies deployed in the Market
Partnerships, Collaborations & Agreements:
- Jan-2022: Panasonic Consumer Electronics formed a partnership with Blue Apron, an American ingredient-and-recipe meal kit company. Under this partnership, Blue Apron would provide consumers with accessible cooking options integrating select recipes with quick and delectable techniques using the Panasonic 4-in-1 multi-Oven.
- Nov-2021: Samsung Electronics came into a partnership with Mindful Chef, the British meal kit retailer. Through this partnership, the companies aimed to provide six various kitchen appliances such as Dual Cook Flex ovens, Infinite Line ovens, Samsung’s combi dishwasher, and microwave manufactured to support Mindful Chef’s aim to make healthy food convenient and simple.
- Aug-2021: GE Appliances, a Haier company came into a multi-year partnership with Google Cloud. This partnership aimed to develop innovative technologies to improve the consumer experience in the kitchen and in homes. In addition, both the companies would work to develop the next generation of smart appliances with Google Cloud Vision AI and GEA would benefit from Google Cloud’s effortless integration with other Google platforms and technologies like Android and Google Assistant.
- Sep-2020: Panasonic extended its partnership with SideChef, a leading culinary platform. Through this partnership, the companies aimed to make cooking easier and more enjoyable at home by offering meal planning, online grocery shopping, unifying the culinary community, and SideChef's curated recipes with Panasonic's kitchen appliance technology.
- Feb-2020: Panasonic joined hands with Drop, the leading smart kitchen platform. This collaboration aimed to streamline the lives of home cooks using their appliances. In addition, the new and existing Panasonic microwave customers would get the opportunity to rediscover the NN-GN68KS’s performance and value.
Product Launches and Product Expansions:
- Sep-2023: LG Electronics India launched a wide area of refrigerators. The launched product would offer a Wi-Fi-enabled side-by-side convertible refrigerators that would enable to convert of the freezer section to a fridge from anywhere using the LG ThinQ App.
- Jan-2023: Panasonic Holdings Corporation announced the launch of a suite of Prime Convertible Refrigerators in India. The launched product would support retaining flavors and nutrients in refrigerated food products.
- Jan-2023: Samsung Electronics Co., Ltd. launched its Bespoke Home lineup, including a wider selection of Bespoke refrigerator types. The launched product would be created to meet a growing demand for customization and offer a new level of intelligent connectivity that empowers users to be more sustainable in the kitchen.
- Jan-2022: Panasonic Introduced NN-SV79MS, the Panasonic Smart Inverter Countertop Microwave. The oven offers inbuilt Alexa, used to control the microwave through voice commands as well as the Alexa application.
- Jan-2022: Whirlpool launched Air Fry Mode and Yummly Smart Thermometer connectivity oven. Through this launch, the company aimed to provide households with more ways to take care of each other.
- Dec-2021: LG Electronics launched G InstaView Double Oven Gas Slide-in Range and Over-the-Range Microwave Oven. This appliance would offer a smooth combination with the latest LG ThinQ Recipe service. Double Oven Range features LG InstaView technology allowing users to see the interior of the appliance by tapping twice on the glass, brightening the interior without opening the door, and letting air escape.
- Oct-2021: LG Electronics unveiled 2021 range of water purifiers and Charcoal Microwave Ovens. The product offers a healthy & hygienic offering to further strengthen standings in the market.
- Sep-2021: Samsung Electronics launched BESPOKE Refrigerators. These refrigerators usher in a new era of personalized home appliances, which enable homeowners to express their unique style along with managing the flexibility and functionality they want.
- Jul-2021: Panasonic Appliances India Company Limited, released Monster Super Mixer Grinder range. This range is equipped with a powerful 750Watt motor that ensures quick processing with a finer mixing & grinding experience.
- Mar-2021: Royal Philips introduced grinder-HL7777/00, a high-performance silent mixer. This new product is revolutionized by Philips following insights from users that highlighted to Indian houses rapidly demanding mixer grinders, which would offer a household surrounding with less noise along with providing better performance.
- Feb-2021: LG Electronics USA expanded the number of LG premium refrigerator models with cubed, crushed, and LG’s exclusive, slow-melting Craft Ice. LG refrigerators with Craft Ice are the first to make slow-melting round ice automatically in the freezer, coupled with cubed and crushed in the door, for upscale drinks right at home.
- Dec-2020: Samsung expanded its smart fridge portfolio in Australia with the launch of the 2-Door Family Hub. This latest 656-litre fridge comes in Matte Black, ships with the new Family Hub 5.0 software, and combine Bixby voice recognition so the smart assistant can identify the voices of various customers and give recommendations based on their preferences.
- Sep-2020: Philips introduced Philips Essential Airfryers, Philips Espresso 5400 Series LatteGo, SENSEO Viva Café Eco, and Philips SpeedPro Max 8000 Series. Through this launch, the company aimed to strengthen domestic appliance enterprise and amplify continuous leadership in the global domestic appliance enterprise.
- Feb-2020: Haier Group Corporation introduced 83 products, across categories along with its plans to spearhead the IoT era in the home appliances industry. The launched product includes a wide range of major categories such as refrigerators, air conditioners, washing machines, LED TVs, and others.
- Jan-2020: AB Electrolux released a portfolio of branded kitchen appliances for the North American market at the Kitchen and Bath Industry Show in Las Vegas. This launch aimed to create to inspire creative and sustainable cooking.
- Mar-2019: Electrolux released a new kitchen range across Europe. The new Electrolux kitchen range offers a seamless aesthetic with attention to detail and ergonomics, making the products intuitive to understand and use. The range includes hobs, ovens, fridges, freezers, dishwashers, and hoods.
Mergers & Acquisition:
- Dec-2021: Electrolux Professional took over Unified Brands, the leader in the foodservice equipment industry. This acquisition aimed to enhance Electrolux's existing presence in the US.
- Nov-2021: Haier Europe took over Fisher & Paykel Appliances, a major appliance manufacturer. This acquisition aimed to expand enterprise brands and product offerings as well as propel the leadership in the Cooking and In-built category.
- Sep-2021: Whirlpool completed the acquisition of Elica PB, a world-renowned name in Kitchen hoods and chimneys. This acquisition aimed to propel money-making growth in India.
Scope of the Study
Market Segments Covered in the Report:
By Product Structure (Volume, Thousand Units, USD Billion/Million, 2019-2030)- Free Stand
- Built-in
- Electric
- Cooking Gas
- Others
- Household
- Commercial
- Refrigerator
- Cooking Appliances
- Dishwasher
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Whirlpool Corporation
- AB Electrolux
- Haier Smart Home Co., Ltd. (Haier Group Corporation)
- Robert Bosch GmbH
- Samsung Electronics Co., Ltd. (Samsung Group)
- Koninklijke Philips N.V.
- Panasonic Holdings Corporation
- Morphy Richards (Guangdong Xinbao Electrical Appliances Holdings Co., Ltd)
- LG Electronics, Inc. (LG Corporation)
- Illinois Tool Works, Inc.
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market At a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Kitchen Appliances Market by Product Structure
Chapter 6. Global Kitchen Appliances Market by Fuel Type
Chapter 7. Global Kitchen Appliances Market by User Application
Chapter 8. Global Kitchen Appliances Market by Product Type
Chapter 9. Global Kitchen Appliances Market by Region
Chapter 10. Company Profiles
Companies Mentioned
- Whirlpool Corporation
- AB Electrolux
- Haier Smart Home Co., Ltd. (Haier Group Corporation)
- Robert Bosch GmbH
- Samsung Electronics Co., Ltd. (Samsung Group)
- Koninklijke Philips N.V.
- Panasonic Holdings Corporation
- Morphy Richards (Guangdong Xinbao Electrical Appliances Holdings Co., Ltd)
- LG Electronics, Inc. (LG Corporation)
- Illinois Tool Works, Inc.
Methodology
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