Kitchen Appliances Market Size, Share & COVID-19 Impact Analysis, By Product Type (Refrigerator, Cooking Appliances, Dishwashers, and others), Application (Residential and Commercial), Distribution Channel (Online and Offline), and Region Forecast, 2020-2032

The global kitchen appliances market size was valued at USD 159.29 billion in 2019 and is projected to reach USD 27.94 billion by 2032, expected to grow at a CAGR of 4.60% during the forecast period. Asia Pacific dominated the kitchen appliances market with a market share of 33.14% in 2019.

Kitchen appliances are commonly used in households & other places for their daily cooking needs. The users can effectively reduce the time & efforts required for cooking activities with the help of such high-performing products. Customers essentially consider various factors such as compactness, product features, and functionality of the small appliances during the buying process. Multi-purpose kitchen gadgets such as grillers, blenders, compact air fryers, and others are widely popular among hotel cooks & households as they can perform multiple tasks with the help of a single device in a cost-effective manner.

Uncertain COVID-19 Lockdown Restrictions  to Pose Challenges in Supplying Raw Materials

The COVID-19-induced lockdown restriction has resulted in the shutting down of various electronic stores across the globe, thereby, halting the growth of the market. Additionally, reduced consumer confidence in purchasing newer varieties of home care products due to the incidences of unemployment or business losses among consumers during such an outbreak has hampered the growth of the market.

The lack of availability of full-time servants among the households due to the incidences of labor migration in the lockdown period has slightly improved the consumer demand for multi-functioned kitchen appliances. Additionally, the growing popularity of the work-from-home style of working among corporate professionals for disease prevention purposes has gained traction in the consumer’s interest in doing various cooking activities. This has helped in sustaining the market growth.

LATEST TRENDS

Increasing Adoption of Energy Efficient Kitchen Appliances to Fuel Market Growth

Nowadays, companies are mainly focusing on producing energy-efficient home appliances to provide sustainable & home comfort solutions to people. Additionally, recent favorable policies implemented by the government regarding the development of the high-power-rated appliances have boosted the demand for such kinds of appliances that significantly reduce energy consumption. For instance, in March 2018, the Bureau of Energy Efficiency (BEE), India, set an energy efficiency benchmark for the different kinds of kitchen appliances so that companies can develop energy-efficient appliances in India. Additionally, the growing popularity of having a modular kitchen has added traction to the demand for such kinds of kitchen-based items.   

DRIVING FACTORS

Rising Demand for Smart Home Appliances to Drive Market Growth

Companies are largely focusing on introducing smart kitchen appliances to cater to the consumer’s demand for technologically innovative home appliances. This is likely to attract consumers towards buying such products, thereby, driving the growth of the market. For instance, in March 2020, Samsung Electronics Co. Ltd. launched innovative appliance products such as bespoke and cube refrigerators, induction cooktops, and shoe care systems at the 2020 International CES innovation summit. Additionally, the growing awareness regarding the availability of a variety of small and large smart kitchen appliances is primarily driving the demand for such products. The rising online shopping trends are further boosting the global kitchen appliances market growth.

Rising Residential and Commercial Housing Facilities to Support Market Growth

The rising infrastructural sector drives the demand for the provision of setting up advanced kitchen appliances for multi-utility purposes across several residential and commercial settings. This is propelling the demand for innovative home appliances across the globe. According to the data published by the U.S. Census Bureau, in September 2020, the housing authority approved a 1.55 million number of new privately-owned housing units at several building permit-issuing places in the United States.

The growing home renovation & remodeling activities across the globe are likely to provide long term opportunities for the demand for advanced home appliances products. The rising global urbanization and modernization rate is further fueling the growth of the market.

RESTRAINING FACTORS

Higher Maintenance and Repair Cost to Limit Market Growth

The large necessities of the consumers to maintain & repair various kinds of home gadgets are primarily restraining the growth of the market. Additionally, the higher cost of smart kitchen appliances is likely to limit its demand among the lower income group of the population. Huge competition from the local industry players is posing a challenge for the business growth of prominent companies. These factors are likely to hamper the market growth.

SEGMENTATION

By Product Type Analysis

Refrigerator Segment to Exhibit a Significant Share of the Market Owing to its Necessity to Maintain Food Quality

Refrigerators are essentially used in the kitchen rooms to avoid food from getting spoiled, increase its shelf life & to maintain the quality of the food, thereby, resulting in a larger share of such a segment. Additionally, the growing technological up-gradation in the design of different kinds of refrigerators is likely to attract the consumers towards purchasing such latest refrigerators. For instance, in May 2018, LG Electronics introduced the renowned, high-performing door-to-door refrigerator, InstaView, especially for the Middle-East region.

The cooking appliances segment is anticipated to experience considerable growth owing to the rising consumption volume of various cooking appliances such as induction cooktops, kitchen hoods, grinders & mixers, and others across the globe. According to the data presented by the Home Appliance Europe (APPLiA), in 2018, the total number of cooking appliances traded in the European region reached nearly 10 million units, 13% up compared to that of 2017. Additionally, the rising kitchen renovation activities are likely to add impetus for segmental growth.

Dishwashers can effectively save time and water in cleaning the utensils. Therefore, the rising demand for innovative dishwashing items coupled with the water scarcity awareness is primarily driving the growth of the dishwasher segment.

The demand for items included in the others segment such as hobs, air fryers, water purifiers, and others is mainly driven by the increasing awareness regarding the availability of the different kinds of items among the people across the globe.

By Application Analysis

Residential Segment to Remain Dominant Owing to High Demand for Product for Cooking Purposes

Kitchen appliances are largely used among the households for their daily cooking needs, thereby resulting in larger revenues for the residential segment. Additionally, the growing number of women working across the globe, coupled with their busy working lifestyle, is further likely to drive the demand for smart kitchen products across the residential sector. According to the Catalyst Organization in Canada, the Women labor force participation rate was grown continuously to 61.3% in 2018 above to that of 50% in 1980.

The commercial segment is likely to grow at a faster rate owing to the increasing infrastructural facilities related to the restaurants & hotels across the globe. According to the data presented by the National Restaurant Association in 2018, there were about 247,237 full-time restaurant establishments in the United States, compared to 243,520 in 2017. Additionally, the growing travel & leisure activities among the people are further likely to support the demand for kitchen appliances across various resorts and tourism spots globally.

By Distribution Channel Analysis

Offline Segment to Hold Large Market Share Owing to Consumer Demand for Purchasing Appliances from Physical Stores

Consumers highly prefer to purchase electronic gadgets from the specialty stores as they can effectively understand the product features in person from the sales representatives at such stores. Additionally, the provision of discounts & offers on various products by such stores is likely to attract the people towards buying kitchen appliances from such stores. These factors are likely to boost the offline segment growth in the forthcoming years.

The online segment is anticipated to showcase the fastest growth during the forecast period. This is attributed to the rising online shopping trends among the population across the globe. Additionally, easy accessibility of the online payment banking solutions such as net banking, debit & credit cards, UPI’s, etc., to the consumers is expected to further fuel the segmental demand.

REGIONAL INSIGHTS

Large Demand for Smart Appliances Among Middle-Class Population Makes Asia Pacific Region to Hold a Major Market Share

The Asia Pacific market stood at USD 52.79 billion in 2019. The region holds the major share in the global market owing to a large number of middle-class population in the region. Additionally, the large consumption of innovative refrigerators units in countries such as Japan, and India is fueling the market growth in the region.

According to the data presented by the Japan Refrigeration and Air Conditioning Industry Association (JRAIA), in 2018, fridge sales volume in Japan reached 28,700 units. Moreover, the growing consumer trends towards the usage of the higher power rated electronic gadgets for electricity cost reduction purposes in the countries such as China, Thailand, and India is further driving the demand for sustainable kitchen gadgets in the region.

Europe is anticipated to experience a strong growth in the forthcoming years owing to the strong presence of prominent companies such as Electrolux AB, The Samsung Group, LG Electronics Inc., BSH Hausgeräte GmbH, and others in the western European region. The rising trend of appliance replacement among the population in the eastern European region is further driving the market growth. Additionally, large consumption of dishwasher items in the countries such as the U.K., Italy, and France results in larger revenues from such items in the region. According to the data presented by the Association of the Manufacturers of Domestic Appliances, in 2018, nearly 49% of the U.K. dwellers own dishwashers in their kitchen. 

North American is primarily driven by the wide presence of large-sized housing units in countries such as the United States and Mexico. Large home space is propelling the consumers to buy different kinds of electrical cooking items that will drive the market growth in the region.

The growing Brazilian consumer’s interest in water and energy efficiency is likely to drive the demand for energy-efficient appliances among the population in the South America region.  

KEY INDUSTRY PLAYERS

Business Expansion Coupled with Product Upgradation to Aid Companies Strengthen their Market Position

Key kitchen appliances industry players such as Electrolux AB, The Samsung Group, LG Electronics Inc., and others are keenly focusing on implementing various merger and acquisition strategies to expand their businesses in the newer markets and to sustain in the global competition. Additionally, they are focusing on developing sustainable & innovative domestic appliances to cater to the growing consumer demand for such kinds of products. For instance, in March 2019, Electrolux AB, Sweden-based home appliances major launched an intuitive range of kitchen items including various products such as fridges, dishwashers, hoods, hobs, ovens, modular kitchens, etc., to expand its business across Europe.

LIST OF KEY COMPANIES PROFILED:

• Electrolux AB (Stockholm, Sweden)


• The Samsung Group (Seoul, South Korea)


• LG Electronics Inc. (Seoul, South Korea)


• BSH Hausgeräte GmbH (Munich, Germany)


• The Whirlpool Corporation (Michigan, United States)


• Robert Bosch GmbH (Gerlingen, Germany)


• Koninklijke Philips N.V. (Amsterdam, Netherland)


• Miele (Gutersloh, Germany)


• General Electric Company (Massachusetts, United States)


• Haier Group Corporation (Qingdao, China)


• Beko (Istanbul, Turkey)

KEY INDUSTRY DEVELOPMENTS:

• In April 2021, BSH Home Appliances Corporation announced its partnership with Plum for the manufacturing of next-generation kitchen appliances to meet the ever-changing consumers' demand.


• In July 2021, The federal government of Canada declared that it is looking for options for making sure that its citizens are using energy-efficient home appliances. In this Natural Resources Canada is apprising standard for household appliances, including laundry machines, refrigerators, and ovens.


• In March 2021, Samsung announced the launch of an AI integrated new smart refrigerator. This product comes with features such as an entertainment system for the kitchen, making groceries-related lists, and video calling. It can also be connected and synced to several devices simultaneously.

REPORT COVERAGE

The kitchen appliances market research report provides a detailed analysis of the market and focuses on key aspects such as competitive landscape, and the segments such as product type, distribution channel, and application areas. Besides this, the report offers insights into the various market trends and highlights key industry developments. In addition to the mentioned factors, the report encompasses several other factors that have contributed to the growth of the market in recent years.

Kitchen Appliances Market Scope & Segmentation