Kitchen Appliances Market

Kitchen Appliances Market Overview

The global Kitchen Appliances Market size was valued at USD 214.23 billion in 2023 and is predicted to reach USD 320.01 billion by 2030 with a CAGR of 5.9% from 2024-2030. The market encompasses a broad range of electrical and mechanical devices designed for use in kitchens, including refrigerators, ovens, microwaves, dishwashers and various smaller gadgets, catering to both domestic and commercial settings. These kitchen gadgets are integral to food preparation, cooking, storage, and cleaning processes, offering convenience, efficiency, and enhanced culinary experiences to consumers. The kitchen appliances industry mainly focuses on innovation, energy efficiency, and smart capabilities to meet evolving consumer preferences enhancing operational efficiency and meeting sustainability goals.

Market Dynamics and Trends

The kitchen appliances market demand is driven by the rapidly increasing population and rising number of households worldwide. As stated by World Population Review, in 2024, the number of households in India surpassed 300 million, while in the U.S., the number of households reached about 133 million. 

Also, in Germany, the households number reached about 41 million. With such rise in the number of households worldwide, who prioritize kitchen modernization and enhanced cooking efficiency, the demand for advanced kitchen equipment is poised to rise, boosting the kitchen appliances market growth.

Moreover, the development in kitchen appliances technology such as the emergence of modular and energy-efficient kitchen equipment including induction cooktops, speed cooking ovens, and warming drawers is also fueling the growth of the global market.

For instance, in April 2022, Equator Appliances launched two portable induction cooktops with single and double burners. The cooktops featured a lightweight & compact design and can be used both indoors and outdoors. Furthermore, the expanding hospitality industry along with the rising tourism sector worldwide drives the demand and adoption of commercial cooking equipment, boosting the growth of the market.

The World Travel and Tourism Council states that the Travel & Tourism sector contributed 9.1% to the global GDP in 2023, marking a notable increase of 23.2% from 2022. Such growth in the tourism and hospitality industry is driving the demand for 900 series cooking equipment, which in turn drives the growth of the kitchen appliances market.

However, the high cost of advanced kitchen appliances is the major factor restraining the growth of the market. On the contrary, the introduction of smart cooking appliances and IoT enabled kitchen equipment, and automation solutions creates numerous growth opportunities for the market.

These technologies allow companies to improve their functioning, becoming more efficient, productive, and sustainable. Smart appliances with advanced sensors and connectivity features enable accurate monitoring and control, improving cooking processes and elevating food quality.

Market Segmentations and Scope of the Study

The kitchen appliances market report is segmented on the basis of product type, fuel type, distribution channel, by end-users, and region. On the basis of product type, the market is divided into refrigerator, cooking appliance, dishwasher, and others. On the basis of fuel type, the market is classified into electric, cooking gas, and others. On the basis of distribution channel, the market is segmented into multi-brand stores, exclusive stores, online, and others. On the basis of end-user, the market is divided into residential and commercial. Regional breakdown and analysis of each of the aforesaid segments include regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

The growing consumption of fast food in North American countries due to the presence of major QSR companies in this region, is creating a lucrative growth opportunity for the quick service restaurants. According to the U.S. Government, Americans spend an average of USD 1,200 yearly on convenience foods, totalling around USD 110 billion across the country. As the popularity of fast food grows in this area, there will be a higher demand for kitchen appliances in this region.

Moreover, with the rising tourism industry, the expansion of hotels and full-service restaurants is growing at a significant rate in countries such as Canada and the U.S. Redberry Restaurants, a leading Canadian restaurant franchisee, added 27 new restaurants and plans to construct 300 additional Burger King and Taco Bell establishments in Canada by 2031.

Similarly, Wyndham Hotels & Resorts added 265 hotels in the U.S. and Canada by 2023. Such rise in the foodservice industry in this region further drives the growth of the market. On the other hand, Asia-Pacific is expected to show a steady rise in kitchen appliances market trends over the forecast period, due to the growing tourism sector in countries such as Japan, India, and South Korea. 

For instance, Japan accommodated 25.06 million tourists, while South Korea registered about 10 million tourists in 2023 from across the globe. With such rise in the domestic and international tourists visiting Asian countries, the demand for accommodation, dining, and entertainment services in this region is on the rise, boosting the growth of the kitchen equipment sector in this region.

Moreover, with the growing number of QSR & FSR companies, driven by the rising demand for convenient dining options and experiencing diverse cuisine from across the globe further boosts the market growth in this region. 

For instance, IHG, the one of the major global hotel groups, announced to build 24 new hotel projects in various regions of China, including Shanghai, Shenzhen, Nanjing, Kunming, Datong, Rizhao, and Ningde. Such expansion in the foodservice industry drives the kitchen appliances market expansion in this region.

Competitive Landscape

Various market players operating in the kitchen appliances industry include Electrolux AB, The Samsung Group, LG Electronics Inc., BSH Home Appliances Corporation, The Whirlpool Corporation, Robert Bosch GmbH, Koninklijke Philips N.V., Miele, General Electric Company, Haier Group Corporation, Voltas Beko, Global Appliances USA, LG Electronics Inc., Panasonic Corporation, Sharp Corporation, and others. These market players are adopting various strategies such as product launches and partnerships to remain dominant in the market. 

For instance, in October 2022, Samsung launched a pickle-mode microwave for residential usage. The new microwave allows customers to prepare masalas, Sun-dry recipes, and a variety of pickles hygienically. 

Also, in August 2022, Panasonic partnered with Flipkart to launch its new line of kitchen appliances including refrigerators. The partnership was aimed towards bringing easy-to-use kitchen and home appliances to millions of homes. 

Also, in August 2022, Thomson launched small home and kitchen appliances including juicers, electric cookers, and sandwich makers at cheap prices. Through this launch, the company aims to make smart kitchen products available in every household. 

Moreover, in May 2022, Beko Home Appliances (Arçelik) launched a new line of dishwashers that clean dishes, and pots using a fraction of water and energy. The dishwashers are also equipped with silent tech to suppress operating noise, sanitization, and energy-conserving features. 

Key Benefits

• The report provides a quantitative analysis and estimations of the kitchen appliances market from 2024 to 2030, which assists in identifying the prevailing industry opportunities.

• The study comprises a deep-dive analysis of the current and future kitchen appliances market trends to depict prevalent investment pockets in the industry.

• Information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report. 

• Competitive analysis of the key players, along with their market share is provided in the report.

• SWOT analysis and a Porter’s Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

Kitchen Appliances Market Key Segments

By Product Type 

• Refrigerator

• Cooking Appliance

• Dishwasher

• Others

By Fuel Type 

• Electric

• Cooking Gas

• Others

By Distribution Channel 

• Multi-brand Stores

• Exclusive Stores

• Online

• Others

By End-User 

• Residential 

• Commercial

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The U.K.

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific 

• Rest of the World (RoW)

  • Latin America

  • Middle East 

  • Africa

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Market Size in 2023	USD 214.23 Billion
Revenue Forecast in 2030	USD 320.01 Billion
Growth Rate	CAGR of 5.9% from 2024 to 2030
Analysis Period	2023–2030
Base Year Considered	2023
Forecast Period	2024–2030
Market Size Estimation	Billion (USD)
Growth Factors	Rising number of households globally drives the market Advancement in cooking appliance technology drives the market growth Growing tourism industry across the globe drives the market
Countries Covered	28
Companies Profiled	15
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.

KEY PLAYERS

• Electrolux AB

• The Samsung Group

• LG Electronics Inc.

• BSH Home Appliances Corporation

• The Whirlpool Corporation

• Robert Bosch GmbH

• Koninklijke Philips N.V.

• Miele

• General Electric Company

• Haier Group Corporation

• Voltas Beko

• Global Appliances USA

• Winia Daewoo Electronics

• Panasonic Corporation

• Sharp Corporation