Global kitchen appliances market size and share is currently valued at USD 193.05 billion in 2023 and is anticipated to generate an estimated revenue of USD 272.39 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 3.9% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2023 – 2032
Market Overview:
The kitchen appliances market has experienced significant growth, driven by evolving consumer lifestyles and the increasing adoption of modern technology in household kitchens. These appliances, ranging from basic cooking tools to advanced smart devices, have become essential for enhancing efficiency, convenience, and sustainability in daily cooking and food preparation. With innovations in design and functionality, kitchen appliances now cater to diverse consumer preferences, making them indispensable in homes worldwide.
Market’s Growth Drivers:
Several factors contribute to the rising demand for kitchen appliances:
- Rising Demand for Smart Appliances
The growing popularity of smart homes has fueled the demand for smart kitchen appliances. These devices, equipped with IoT-enabled features, allow users to remotely monitor and control cooking processes, enhancing convenience and efficiency. - Increased Focus on Health and Wellness
As consumers prioritize healthy living, there is a rising demand for appliances that support nutritious cooking. Products like air fryers, slow cookers, and blenders for smoothies and juices are gaining traction among health-conscious individuals. - Growth in Urbanization and Dual-Income Households
Urbanization and the rise of dual-income families have increased the need for time-saving kitchen solutions. Compact and multifunctional appliances are becoming popular choices to simplify cooking in busy lifestyles. - Innovation in Energy-Efficient Appliances
The shift towards energy-efficient and eco-friendly appliances is being driven by environmental concerns and rising energy costs. Manufacturers are introducing appliances with advanced energy-saving technologies to appeal to environmentally conscious consumers.
𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/kitchen-appliances-market/request-for-sample
Some of the major players operating in the global market include:
- AB Electrolux
- BSH Hausgerate GmbH
- Dacor, Inc.
- Electrolux AB
- General Electric Company
- Haier Group
- LG Electronics
- Miele
- Morphy Richards
- Panasonic Holdings Corporation
- Koninklijke Philips N.V.
- Robert Bosch GmbH
- SAMSUNG
Recent Developments:
- Electrolux Expands Appliance Range in India
In February 2023, Electrolux launched a new range of built-in kitchen appliances in India, including microwaves, stoves, burners, cooker hoods, dishwashers, and coffee machines. These products incorporate advanced features such as an Eco program for water and energy conservation, pre-programmed meal settings, a steamy mode for retaining nutrients and moisture, and options for both conventional and fan-assisted cooking. - V-Guard’s Acquisition of Sunflame
In December 2022, V-Guard acquired Sunflame Enterprises Private Ltd (SEPL), a well-known brand in the Indian kitchen appliances market. This strategic acquisition aims to strengthen V-Guard’s presence in the sector by leveraging innovation and enhancing consumer experiences, positioning the company as a key player in the Indian kitchen appliances industry. - TTK Prestige and Ultrafresh Partnership
In June 2022, TTK Prestige partnered with Ultrafresh to further its ambition of becoming a leading kitchen solutions provider. Ultrafresh opened its first experience center in Koramangala, Bengaluru, spanning 2,700 square feet and showcasing a wide variety of kitchen designs. With 120 operational studios and the production of over 5,000 steel and wooden kitchens across India, Ultrafresh is driving significant progress in the modular kitchen segment.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
The Kitchen Appliances Market segmentation divides the market into several segments. The industry segmentation is primarily based on product type, application, end-use, and geographic factors. Besides, the research study covers several sub-segments of the market. An in-depth examination of each market segment and sub-segment has been provided, covering the industry size, growth prospects, industry drivers, and challenges. The detailed market segmentation helps stakeholders identify the diverse needs of different consumer groups in the market. Also, it pinpoints opportunities for targeted marketing and product development strategies.
Kitchen Appliances Market, Product Outlook (Revenue – USD Billion, 2019-2032)
- Cooking Appliances
- Cooktops & Cooking range
- Ovens
- Others
- Dishwasher
- Refrigerator
- Range Hood
- Others
Kitchen Appliances Market, Fuel Type Outlook (Revenue – USD Billion, 2019-2032)
- Cooking Gas
- Electricity
Kitchen Appliances Market, Technology Outlook (Revenue – USD Billion, 2019-2032)
- Conventional
- Smart Appliances
Kitchen Appliances Market, End-Use Outlook (Revenue – USD Billion, 2019-2032)
- Commercial
- Residential
The kitchen appliances market is set to continue its robust growth trajectory, driven by technological advancements, evolving consumer preferences, and increasing awareness about energy efficiency and sustainability. As innovation reshapes the industry, kitchen appliances are not just tools for cooking but integral components of modern homes.