Smart Kitchen Appliances Market Size, Share & Trends Analysis Report By Product (Smart Refrigerators, Smart Cookware & Cook Tops, Smart Dishwashers, Smart Ovens), By Application, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global smart kitchen appliances market size was valued at USD 13.18 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 18.4% from 2022 to 2030. The market is booming in the current business years owing to the demand for advanced and intelligent cooking appliances over the globe.  Amidst the COVID-19, sales prospects remained largely unaltered. The rise was experienced in 2019, although restrictions on manufacturing and logistics activities were strictly enforced. At the peak of the pandemic, consumer awareness regarding the healthy environment prompted them to invest in efficient and smarter appliances.

Additionally, the smart kitchen appliance market is captured by numerous well-established and globally renowned manufacturers, tier-2 companies and startups, which offer various types of smart kitchen appliances. For instance, in November 2020, Xiaomi announced to launch multifunctional smart electric kettle under its MIJIA product segment. This smart kettle can be controlled remotely with a smart phone through the MIJIA mobile application. These product launches are promoting the residential kitchen appliances sales across the globe.

In 2019, Haier unveiled new 7-brand Smart Home Solution at Appliances and Electronics World Expo, 2019. The upgraded solution integrates the latest technologies from Haier Group’s seven brands to deliver the next generation of smart homes. The rising number of high-net-worth individuals in these regions is fueling the growth of the smart kitchen appliances market.

As per the Cisco Internet Report connected homes will hold a share of 48.0% across all the Internet of Things (IoT) appliances. The smart kitchen appliances offer several benefits such as cost-effectiveness, comfort, safety, convenience and modesty to the consumers, thereby gaining the traction among the end users. It helps the consumers by reducing the recurring costs associated with periodic maintenance.

Low-carbon environmental protection has become the newest trend in various industries and consumers are more inclined to energy-saving low-carbon kitchen products. In 2022, Samsung Electronics announced sustainability initiatives that will accelerate the development of eco-friendly home appliances by increasing the amount of recycled plastic in its home appliances. In the near future, energy-saving and smart appliances are there to stay, eventually modestly developing the direction of the industry.

Product Insights

Smart refrigerators held the largest market share of 33.98 % in 2021 and are  expected to maintain dominance, throughout r the forecast period. Smart refrigerators are becoming more common as smart cities and smart infrastructure become more widely adopted. The IoT market has grown noticeably during  the years, with smart home appliances and devices such as Google Nest, Ring, Alexa, and smart refrigerators, making homes more intelligent.

The smart cookware &  cook tops segment was  estimated to contribute a market share of 32.56 % in 2021 and is expected register a CAGR of 19.5% from 2022 to 2030.Consumers are opting for energy-efficient kitchen appliances that help them save money on their power costs. Moreover, induction cook tops are relatively safer to use than LPG cylinders due to the absence of open flames. They can cook even at low temperatures and help reduce time and energy consumption.

Application Insights

The commercial segment is anticipated to make a potential growth of 17.7% during the forecast period. Increasing occurrence of Quick Service Restaurants (QSR) chains, owing to greater dependency of younger population on fast food joints, is increasing the application of smart kitchen appliances such as grillers, fryers, ovens, and cook tops. Thus, commercial players are investing more in these smart kitchen appliances across the globe.

The hospitality industry in various geographies is procuring robotic technologies and connected technologies to enhance customer satisfaction. Various hotel management industries are indulging in transforming their kitchens with the procurement of smart kitchen appliances. Increasing inclination  of the consumers towards eating outside is influencing restaurant owners or public eatery points to build a kitchen with these smart appliances for good quality and tasty food at faster time.

Regional Insights

Asia Pacific made contributions of 27.60 % in the global market, during  2021.Asia Pacific is anticipated to be the fastest-growing region in the smart kitchen appliances market, which is majorly attributed to the growing demand for such appliances among the Chinese, Japanese and South Korean population. These three countries are contributing to the growth  in these markets

North America has dominated the global market for smart kitchen appliances  with a CAGR of 33.30% during 2021.It has witnessed a substantial increase in the number of high-net worth individuals, which has led to the potential growth of the market in this region. Moreover, the trend of replacement of traditional appliances with advanced appliances is boosting the penetration of the smart appliances.

Key Companies & Market Share Insights

The market is characterized by the presence of a few established players and new entrants. Companies have been expanding their product portfolios by incorporating new and innovative smart kitchen products, to widen their consumer base. For instance, in November 2019, Electrolux expanded its collaboration with Google by integrating connected kitchen products in Europe with the Google Assistant, enabling consumers to control products via voice commands. Similarly, in April 2018, Samsung Electronics Co. Ltd. showcased its brand-new Dual Cook Flex Oven along with other kitchen innovations at a renowned kitchen trade fair in Milan. This exhibit is intended to uplift the company’s brand image and reputation among consumers in Europe, with products that makes a significant difference to the lives of consumers.

Some of the prominent  players in the global smart kitchen appliances market include: -

• Whirlpool Corporation

• LG Electronics

• Electrolux AB

• Samsung Electronics Co., Ltd.

• Haier Group

• Panasonic Corporation

• BSH Hausgerate GmbH

• Koninklijke Phillips N.V.

• Miele & Cie. KG

• Dongbu Daewoo Electronics

Smart Kitchen Appliances Market Report Scope

Global Smart Kitchen Appliances Market Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the latest trends and opportunities in each of the sub-segment from 2016 to 2028. For this study, Grand View Research has segmented the global Smart Kitchen Appliances Market report based on the  product, application and region.

• Smart Kitchen Appliances Product Outlook (Revenue, USD Million; 2017 - 2030)

  • Smart Refrigerators

  • Smart cookware & Cook tops

  • Smart Dishwashers

  • Smart Oven

  • Other Appliances

• Smart Kitchen Appliances Application Outlook (Revenue, USD Million; 2017 - 2030)

  • Residential

  • Commercial

• Smart Kitchen Appliances Regional Outlook (Revenue, USD Million; 2017 - 2030)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

  • China

  • India

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa