Large Cooking Appliance Market Size, Share & Trends Analysis Report By Product (Cooktops, Ovens, Specialized Appliances), By Application (Household, Commercial), By Region, And Segment Forecasts, 2024 - 2030

Report Overview

The global large cooking appliance market size was valued at USD 32.79 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2030. The rising standard of living and increasing consumer preference for modular kitchens are significant contributors. The rapid depletion of natural resources such as LPG and wood has also led to a higher demand for specialized and energy-efficient cooking appliances. Urbanization is another crucial driver, as more people move to urban areas, leading to smaller households and a greater need for compact and efficient cooking solutions.

The growing number of nuclear families and working women has increased the demand for convenient and smart cooking appliances. Furthermore, the trend towards eco-friendly and energy-saving alternatives also propels market growth. Moreover, the rise in disposable incomes, particularly in emerging economies, enables more consumers to invest in high-end and premium cooking appliances. The growing awareness of health and wellness also influences market growth as consumers look for appliances that support healthier cooking methods, such as ovens and cooktops.

The expansion of the e-commerce sector has made it easier for consumers to access a wide range of cooking appliances, often at competitive prices and with convenient delivery options. Furthermore, continuous technological advancements and innovations in cooking appliances, such as induction and multi-functional appliances further drive market growth.

Product Insights

The cooktops segment dominated the market with the largest revenue share of 38.2% in 2023. Cooktops are essential in residential and commercial kitchens, offering versatility and efficiency. The increasing trend of modular kitchens and the preference for sleek, built-in appliances have significantly boosted the demand for cooktops. Technological advancements, such as induction and smart cooktops, have made these appliances more appealing to consumers. The growing awareness of energy efficiency and the shift towards eco-friendly cooking solutions also contribute to the popularity of cooktops.

The specialized appliances segment is expected to grow at the fastest CAGR of 7.8% over the forecast period. There is a rising demand for appliances that cater to specific cooking needs and preferences, such as air fryers, sous-vide machines, and multi-cookers. These appliances offer convenience and versatility, appealing to consumers experimenting with different cooking techniques and recipes.

The increasing focus on health and wellness also drives the demand for specialized appliances that promote healthier cooking methods. For instance, steam ovens and air fryers are gaining popularity as they allow for cooking with less oil and preserving more nutrients in food.

Technological advancements are also crucial to this segment’s growth. Innovations such as smart connectivity, precise temperature control, and user-friendly interfaces are making specialized appliances more attractive to consumers. Furthermore, the growing trend of home cooking and the influence of cooking shows and social media encourage consumers to invest in these specialized appliances.

Application Insights

The commercial segment dominated the market with the largest revenue share in 2023. This dominance is driven by the robust demand from the hospitality industry, including restaurants, hotels, and catering services, which require high-capacity and durable cooking appliances to meet their operational needs. The growth in the food service industry, coupled with the increasing number of dining establishments and the trend towards eating out, has significantly boosted the demand for commercial cooking appliances. Additionally, advancements in technology, such as energy-efficient and smart appliances, are further propelling the growth of this segment.

The household segment is expected to grow significantly over the forecast period. This growth is fueled by several factors, including the rising trend of home cooking and the increasing popularity of cooking as a hobby, influenced by cooking shows and social media. The shift towards healthier eating habits and the demand for appliances that support these preferences, such as air fryers and steam ovens, are also contributing to the growth of the household segment. Furthermore, the increasing adoption of smart home technologies and the availability of a wide range of innovative and user-friendly cooking appliances are expected to drive the growth of this segment. The rise in disposable incomes, particularly in emerging economies, enables more households to invest in high-quality, advanced cooking appliances.

Regional Insights

North America’s large cooking appliances market dominated the global market with revenue share of 31.8% in 2023. The region’s high disposable income levels and the strong preference for advanced and energy-efficient appliances play a crucial role. Furthermore, widespread adoption of smart home technologies and increasing trend of kitchen remodeling and renovation projects is expected to drive the demand for large cooking appliances in North America.

U.S. Large Cooking Appliances Market Trends

The U.S. large cooking appliances market is expected to grow significantly over the forecast period owing to the presence of key industry players and continued innovative products tailored to meet needs of consumers. Furthermore, the increasing awareness of energy conservation and the availability of eco-friendly appliances are also contributing to the market’s growth.

Europe Large Cooking Appliances Market Trends

Europe's large cooking appliances market was identified as a lucrative region in 2023. The region’s strong economic stability and high disposable income levels enable consumers to invest in advanced and premium cooking appliances. Furthermore, the growing trend of smart home and high adoption of smart home appliances are significantly driving market growth.

The UK's large cooking appliances market is expected to grow significantly over the forecast period. The demand for energy-efficient and eco-friendly appliances is rising, influenced by stringent environmental regulations and a growing awareness of sustainability among consumers. Furthermore, well-established brands and continuous technological innovations contribute to its attractiveness.

Asia Pacific Large Cooking Appliances Market Trends

Asia Pacific large cooking appliances market is expected to grow at the fastest CAGR of 7.9% over the forecast period. Rising disposable incomes in the region have increased consumer spending on high-quality, advanced cooking appliances. Urbanization and modern lifestyles also contribute to this trend, as more people seek convenient and efficient cooking solutions, such as smart and modular kitchen appliances. Technological advancements, including smart features, energy efficiency, and connectivity, attract consumers who desire the latest kitchen convenience.

India’s large cooking appliances market is expected to grow significantly in the coming years. The expansion of e-commerce platforms has made it easier for consumers to access a wide range of cooking appliances, often with competitive pricing and convenient delivery options. Furthermore, supportive government policies and initiatives promoting energy-efficient appliances encourage consumers to upgrade their old cooking appliances to more efficient models. These factors collectively contribute to the robust growth of the market. For instance, The Bureau of Energy Efficiency (BEE) has implemented an energy efficiency-labeling program for appliances, including large cooking appliances like ovens and microwaves. This help consumers make informed choices and encourages manufacturer to produce more energy-efficient products.

Key Companies & Market Share Insights

Some key companies in the large cooking appliances market include Whirlpool Corporation, Samsung Electronics Co. Ltd, Hitachi Appliances Inc., Morphy Richards, Haier Group Corporation, Koninklijke Philips N.V., Robert Bosch GmbH, and others. . Companies are focusing on launching new designs and increasing product ranges. Moreover, key players are taking several strategic initiatives, such as mergers and acquisitions and partnerships with other major companies.

• Samsung Electronics Co. Ltd., a global leader in consumer electronics, has made a significant strides in the large cooking appliances market. Samsung offers a wide range of products including cooktops, ovens, and specialized kitchen equipment. The company advantages advanced technology to create energy-efficient and smart appliances that cater to modern kitchen needs.

Recent Developments

• In April 2024, SAMSUNG, a prominent company in the consumer electronics industry, demonstrated its latest portfolio additions empowered by Artificial intelligence technology, including a Smart AI induction cooktop (80cm).

• In May 2024, Toshiba, a key market participant in smart kitchen appliances, unveiled an addition to its W3 series offerings, the Air Fry Microwave Oven (MW3-AC26SF), equipped with a combination of ChefDefrost and OriginInverter technology. 

• In January 2024, TTK Prestige, an established brand in the home and kitchen appliances market, unveiled a range of offerings, including Tri-ply Flip-on Cooker, Induction Cooktop V3, Endura Pro Mixer Grinder, Svachh Neo Gas Stove, Hard Anodised Non-Stick cookware and others, for its customers and modern homemakers, 

Large Cooking Appliance Market Report Scope

Global Large Cooking Appliance Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global large cooking appliance market report based on product, application, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Cooktops

  • Ovens

  • Specialized Appliances

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Household

  • Commercial

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

  • Middle East and Africa (MEA)

    • South Africa