Household Cooking Appliance Market Size, Share & Trends Report

Household Cooking Appliance Market Size, Share & Trends Analysis Report By Product (Cooktops & Cooking Ranges, Ovens, Specialized Appliances), By Structure, By Distribution Channel, By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Jun, 2021
  • Base Year for Estimate: 2020
  • Report ID: 978-1-68038-544-1
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 171

Report Overview

The global household cooking appliance market size was valued at USD 261.22 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.5% from 2021 to 2028. The increasing number of nuclear families, changing food habits, and the growing number of working women and single professionals are expected to drive the growth of the market over the forecast period. Stringent energy efficiency regulations applicable in different parts of the world, easy availability of household kitchen appliances on e-commerce websites, growing preference for home automation, and continued launches of smart cooking products are expected to contribute to the growth.

U.S. household cooking appliance market size, by product, 2016 - 2028 (USD Billion)

The rising need to reduce human intervention and automate cooking has triggered several innovations in household cooking appliances. As such, manufacturers are typically retaining the original mechanisms and integrating the latest technologies into the modern appliance as part of the efforts to encourage household consumers to replace their conventional cooking appliances with the modern cooking appliance. The demand for these cooking products is also growing as several individuals have started pursuing cooking as a hobby and are hence purchasing the latest appliances.

The growing popularity of the smart home concept bodes well for the growth of the market over the forecast period. Advancements in technology have led to the introduction of innovative household cooking products that support connectivity and voice assistants and feature touch screens and built-in cameras. These Internet of Things (IoT)-enabled, smart cooking products can be monitored and controlled remotely over the internet using smartphones.

However, the high energy consumption levels associated with household cooking appliances have always been a major concern for household consumers. Hence, end-customers have started preferring household cooking appliances with an Energy Star rating. Certified appliances feature state-of-the-art technologies designed to reduce energy consumption. The consumer preference for cooking appliances that can potentially reduce energy consumption and simplify cooking is increasing gradually.

The outbreak of the COVID-19 pandemic took its toll on the market growth in early 2020 as a result of the temporary shutdowns of production plants, shortage of labor, and disrupted logistics operations. The challenges can be attributed to the stringent restrictions, including lockdowns, imposed by various governments worldwide to arrest the spread of the disease. As a result, market players had to confront dwindling sales initially. Nevertheless, as the governments relaxed some of the restrictions, online sales of household appliances particularly gained traction. Apart from e-commerce portals, the brick and mortar stores also resumed operations and the sales of cooking appliances increased as a majority of the people continued to work from home and spend most of their time in their households.

Product Insights

The cooktops and cooking ranges segment accounted for the largest revenue share of over 45.0% of the overall household cooking appliance market in 2020. The latest household cooktops and cooking ranges are available in different sizes, are easy to install, and feature easy-to-use features. Hence, they have gained popularity among consumers and opened business opportunities, especially in North America and Europe. The segment has been further segmented into gas, electrical, and induction cooktops and cooking ranges. Induction cooktops feature digital temperature control panels that help in saving time and reducing energy consumption. Hence, modern households particularly prefer induction cooktops.

The ovens segment is anticipated to register the highest CAGR over the forecast period. The oven’s capability of cooking restaurant-quality in households’ meals bodes well for the growth of the segment. The segment has been further segmented based on heating technology into conventional and convection, microwave, and combination. The combination ovens sub-segment has acquired a dominating share of the overall ovens segment in 2020. Combination ovens are increasingly being considered as part of a modern household cooking lifestyle.

Structure Insights

The freestanding segment accounted for a revenue share of 60.0% in 2020. Freestanding appliances are cheaper as compared to built-in household counterparts. Spare parts of freestanding household products are also available easily. Although freestanding household appliances require more space in the kitchen, they are preferred because customers can buy the products of their choice depending on the space available in their kitchen. Freestanding household products are also easy to clean and maintain.

On the contrary, built-in household cooking appliance is preferred for smaller kitchens. They occupy lesser space as they are added to modular kitchens as designing elements. Hence, the built-in segment is expected to grow over the forecast period. However, built-in equipment incurs additional installation costs as the installation of these appliances needs to be done by professionals.

Distribution Channel Insights

The e-commerce segment is anticipated to register the highest CAGR of around 10.0% over the forecast period. Household cooking appliance buyers prefer e-commerce websites owing to the ease of buying and competitive pricing. The e-commerce channel is anticipated to outpace retail sales in recent years, and hence, turning out to be a major concern for retailers. As such, retailers are pursuing innovative strategies to cope with the changing situation. They are particularly partnering with e-commerce websites and providing 'buy-online and pick-up in store' facilities to promote both the sales channels household appliances.

Global household cooking appliance market share, by distribution channel, 2020 (%)

However, a significant number of household consumers will still prefer the brick and mortar channel and purchase cooking appliances from retail and other specialty stores. Physical stores allow customers to gain a firsthand experience as the tangibility of the product may lead to making quick purchasing decisions. When it comes to e-commerce sales, there are times when customers are not comfortable with purchasing the cooking appliance product merely by looking at it on the website. At this juncture, physical stores allow customers to experience the appliance in person and make an informed buying decision.

Regional Insights

Asia Pacific dominated the market in 2020 with a revenue share of around 40.0%. The region has emerged as a major production hub for household kitchen appliance manufacturers due to the low labor costs and availability of raw materials at competitive prices. As a result, leading manufacturers from other regions are also expanding their business operations in the Asia Pacific region. Continued urbanization, the growing purchasing power of consumers, gradually changing lifestyles, and early adoption of innovative technologies are expected to drive the growth of the regional market over the forecast period.

The Middle East and Africa market for household cooking appliances is expected to expand at the fastest CAGR of over 10.0% from 2021 to 2028. Although the market is in its nascent stages at present, the spending patterns of the consumers in the region are changing. The continued rollout of high-speed data networks and the growing popularity of modular kitchens are some of the factors that are expected to encourage the adoption of IoT-enabled appliances in the region. Given the availability of multi-functional cooking ovens at premium pricing, household consumers in the region are particularly opting for multi-functional ovens.

Key Companies & Market Share Insights

Prominent market incumbents include AB Electrolux, Haier Group, LG Electronics, Whirlpool Corporation, Samsung, and Robert Bosch GmbH. All these market players are focusing on exploring new alternatives for raw materials, manufacturing, and thermal element design as part of the efforts to develop energy-efficient products. For instance, in August 2020, Samsung, one of the leading South Korean consumer electronics manufacturers, launched Classic Fridge Freezer, as a part of its new lineup of innovative home appliances. The Classic Fridge Freezer is featured with a compressor that automatically alters its speed based on the cooling requirements, thus consuming lesser energy.

Some of the major market players are consistently upgrading their product line with advanced and innovative equipment. They are also investing aggressively in R&D to manufacture products featuring state-of-the-art technologies, such as Artificial Intelligence (AI) and the Internet of Things (IoT). For instance, the 400 Series Combi-Steam Oven from Gaggenau, a luxury household kitchen appliance brand owned by Robert Bosch GmbH, allows users to store up to 50 recipes for frequently cooked dishes and offers functions that can be controlled remotely via a smartphone. The market players are also offering cooking appliances featuring the latest technologies and features, such as touch screen doors, Wi-Fi connectivity, voice control support, self-cleaning, and smartphone app-based functionalities. Some of the prominent players operating in the global household cooking appliance market are:

  • Whirlpool Corporation

  • AB Electrolux

  • Haier Group

  • Samsung

  • LG Electronics

  • Robert Bosch GmbH

Household Cooking Appliance Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 276.89 billion

Revenue forecast in 2028

USD 431.61 billion

Growth Rate

CAGR of 6.5% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, structure, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; South America; Middle East & Africa (MEA)

Country scope

U.S.; Canada; Mexico; U.K.; Germany; China; India; Japan; Brazil

Key companies profiled

Whirlpool Corporation; AB Electrolux; Haier Group; Samsung; LG Electronics; Robert Bosch GmbH

Customization scope

Free report customization (equivalent to up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For this study, Grand View Research has segmented the global household cooking appliance market report based on product, structure, distribution channel, and region:

  • Product Outlook (Revenue, USD Billion, 2016 - 2028)

    • Cooktops & Cooking Ranges

      • Gas Cooktops & Cooking Ranges

      • Electrical Cooktops & Cooking Ranges

      • Induction Cooktops & Cooking Ranges

    • Ovens

      • Conventional & Convection Ovens

      • Microwave Ovens

      • Combination Ovens

    • Specialized Appliances

  • Structure Outlook (Revenue, USD Billion, 2016 - 2028)

    • Built-in

    • Freestanding

  • Distribution Channel Outlook (Revenue, USD Billion, 2016 - 2028)

    • Brick & Mortar

    • E-commerce

  • Regional Outlook (Revenue, USD Billion; 2016 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

      • Japan

    • South America

      • Brazil

    • Middle East & Africa

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