Global Kitchen Appliances Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Product (Food Preparation, Cooking Appliances, Large Kitchen Appliances, Others), By Distribution Channel (Online, Offline), By Structure Type (Built-in, Stand Alone), By Application (Residential, Commercial), And By Geography - Forecasts From 2022 To 2027

The kitchen appliance market was valued at US$98.652 billion in 2020.

The primary growth factors for the kitchen appliances market to surge throughout the forecast period include rapid urbanization and changing lifestyles of people due to rising disposable income, which is amplifying the demand for numerous appliances, especially in developing economies. Kitchen appliances are those appliances that are designed to make cooking easy and smooth. The major applications of these appliances include cooking, storage, and cleaning, among others. Furthermore, the growing innovations by key players in the kitchen appliances market for the development of new and advanced products with the aim of catering to burgeoning consumer requirements are also one of the major factors that show the potential for market growth during the next five years.

These appliances further allow smooth functioning in the kitchen, along with offering numerous benefits to their use. In addition, the rising penetration of energy-efficient appliances coupled with the increasing focus of the market players on their investments in the development of low-energy-consuming devices is also anticipated to positively impact the market growth throughout the forecast period and beyond. The changing consumer lifestyle is also leading to increased adoption of convenient and hassle-free products as the hectic lifestyle is further promoting the use of various kitchen appliances for time-saving purposes, which is also projected to support the market growth in the coming years.

Rapid urbanization is significantly driving the demand

Urbanization plays an important role in driving the demand for various products as more and more people are moving toward urban areas, which is leading to changes in their lifestyles and standards of living. This, in turn, is significantly driving the demand for kitchen appliances, especially in developing economies, which include India, China, and Indonesia, among others. A notable surge in the urban population is driving market growth for kitchen appliances in the next five years. For instance, according to the World Bank Group, the percentage of the urban population out of the total population in India increased from 30.246% in 2008 to 34.03% by 2018. Similarly, in China, the total urban population reached 823,827,650 by 2018 from 616,481,190 in 2008.

Booming residential construction will boost the market's growth

The booming residential construction around the globe due to impressive economic growth, rising disposable income, and improvement in the standard of living are driving the demand for these appliances throughout the globe. The construction of new housing units is further leading to an increase in the number of kitchens, thereby anticipating the demand for these appliances over the next five years. The number of new residential houses built increased from 1,25,551 units in 2015-16 to 1,82,861 units in 2018-19, according to the Ministry of Housing and Government Affairs. Furthermore, the government initiatives to boost the residential sector of India are also anticipated to propel the growth opportunities for the market to surge over the forecast period and beyond. For instance, the Smart Cities Mission initiative by the government of India aims to convert 99 cities into smart cities with the aim of expanding the housing (residential) sector in the country. In addition, the growing trend of modular kitchens, especially in developing economies, is expected to propel the market growth for built-in units of kitchen appliances, thereby adding to the market growth.

Online sales to show notable growth

On the basis of the distribution channel, the global kitchen appliances market has been classified into online and offline. The online segment is projected to show robust growth during the next five years on account of the growing e-commerce retail sales and the growing e-commerce industry, especially in the developing economies of the world. The growing adoption of e-commerce platforms for the purchase of durable products is due to convenience and economic benefits such as lower prices and higher discounts. All these factors are promoting the adoption of online purchases, thereby supporting the growth of this segment during the coming years. However, the offline segment is anticipated to hold a significant share throughout the forecast period owing to the fact that a high proportion of people still purchase these products from exclusive retail stores due to their greater reliability.

In-built appliances to good growth opportunities

On the basis of structure type, the market has been segmented on the basis of standalone and in-built appliances. The in-built appliances are anticipated to show good growth opportunities during the forecast period and beyond due to the growing adoption of these appliances on account of the rising trend of modular kitchens in developing economies. The standalone is expected to hold a considerably larger share due to a significant proportion of the population around the globe using this type of appliance.

The Asia Pacific to rule the market

Geographically, the global kitchen appliances market has been segmented on the basis of North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The Asia Pacific region is projected to hold a noteworthy share in the market throughout the forecast period on account of a comparatively large population base throughout the region. Furthermore, rapid urbanization in India and China is also supporting market growth in the APAC region. Furthermore, the presence of a large manufacturing base in countries like India, China, Korea, and Vietnam is also bolstering market growth in the Asia Pacific region during the next five years.

Key Developments in the Market:

• In June 2022, TTK Prestige acquired 51% shares of Ultrafresh Modular Solutions. According to the firm, this development is expected to aid it in evolving as a fast-growing modular kitchen brand. Overall, this development aligns with the former's aim of emerging as a comprehensive kitchen solutions brand.
• In March 2022, Fresko, a Kitchen appliances manufacturer, launched a first-ever 5-in-1 food processor and blender, KitchenHub+. This innovative smart offering integrates multiple essential tools into one efficient and swift food equipment, featuring essential food preparation options at a click of a button, optimizing space, time, and money. It includes features of the milk frother, grinder, juicer, fruits and vegetable cleaner, and meat mincer.
• In July 2021, Orient Electric Limited launched a new line of kitchen appliance products, Chef'Special. The new products include the Chef'Special 400W Nutri blender and Chefspecial 1200W mixer grinder. The main objective of the product design aspects was to offer optimized performance, style, and convenience.

COVID-19 Impact on Kitchen Appliances Market

COVID-19 had a negative impact on the global kitchen appliances market. The mandated lockdown and social distancing measures led to the closure of thousands of retail stores across the globe, causing sales to drop during the period. The decreased production, supply chain restraints, and low demand further cooled the market growth. The financial constraints faced by consumers due to the global economic recession also significantly impacted market growth.

Global Kitchen Appliances Market Scope:

Segmentation

• By Product
  • Food Preparation
  • Cooking Appliances
  • Large Kitchen Appliances
  • Others
• By Distribution Channel
  • Online
  • Offline
• By Structure Type
  • Built-in
  • Stand Alone
• By Application
  • Residential
  • Commercial
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Thailand
    • Taiwan
    • Others