The dependence of housewives on modern kitchen appliances to enhance the flavour of food is increasing. These developments aid in the expansion of the market for home kitchen appliances worldwide. Domestic Kitchen Appliances Market is boosted by the introduction of cutting-edge items including combination steam ovens, induction hobs with preset cooking zones, and refrigerators with cutting-edge refrigeration technology.
The quick changes in lifestyle have increased demand for kitchen appliances that make living more convenient and comfortable. Domestic kitchen appliances improve the quality of cooking and make food storage safer. Advanced cooking is becoming increasingly popular, especially in developed economies. People are searching for contemporary kitchen equipment because they wish to imitate experts more and more.
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Demand of domestic kitchen appliances is seen more in urban market especially in high-tier cities. Growing investment over research and development on various domestic kitchen appliances and introduction of innovative technology further helps in the growth of domestic kitchen appliances market.
Rising of food service industry in developing country leads to rise in demands of domestic kitchen appliance. Growing urbanization and product up gradation are also some of the key factor for growth of global domestic kitchen appliances market.
Many global brands such as Philips, Inalsa, Black and Decker, Morphy Richards, Siemens and Bosch offers customize products in the market with emphasis on latest technology, quality, innovation and value combined with better after-sales services.
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Asia pacific is one of the prominent markets for growth of domestic kitchen appliances. Greater purchasing power of individual leads more investment over various domestic kitchen appliances. Asia Pacific is expected to witness fastest growth rates in domestic kitchen appliances market during forecasted period 2014- 2020.
According to a research report domestic kitchen appliances market in reached around Rs 700 crore in India in Asia Pacific region in 2014. In North America, the U.S holds the largest market share in domestic kitchen appliances. The global domestic kitchen appliances market is expected to grow in a single digit growth rate during forecasted period 2014- 2020.
Some of the major companies operating in global domestic kitchen appliances market are Koninklijke Philips N.V, Inalsa, Black and Decker, Morphy Richards, Faber, Siemens, Bosch, Bajaj, Maharaja, Miele, Kitchen Aid, Electrolux, Maytag, Samsung, Thermador, Frigidaire, Jenn-Air, Whirlpoo, TTK Prestig, Maharaja and Jarden
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Key features of this report
- Drivers, restraints, and challenges shaping the Domestic Kitchen Appliances market dynamics
- Latest innovations and key events in the industry
- Analysis of business strategies of the top players
- Domestic Kitchen Appliances market estimates and forecasts(2015 -2021)
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