Cookers & Ovens Market Size Worth $227.8 Billion By 2028

Cookers & Ovens Market Growth & Trends

The global cookers & ovens market size is expected to reach USD 227.8 billion by 2028, registering a CAGR of 5.8% in the forecast period, according to a new report by Grand View Research, Inc. The market is primarily fueled by the rising demand for portable cooktops from consumers across Asia Pacific and the increasing popularity of ovens among consumers in the U.K. The multifunctionality of these appliances in both domestic and commercial settings is also anticipated to boost the market growth.

In recent years, an increasing number of consumers around the world have begun cooking various small and large meals at home. This can be attributed to rising health consciousness and the growing trend of entertaining guests at home. The coronavirus pandemic also compelled an extraordinarily large number of consumers to cook at home as restaurants and other eateries were shut for extended periods. This surge in cooking practices has also fueled the demand for various cooking and kitchen appliances.

The ovens segment is expected to register the highest growth rate over the forecast period, fueled by the rising demand for charcoal lighting heater-based appliances from consumers in the U.K. and Germany. The cookers segment is also likely to showcase strong growth over the coming years, with hot air grilling-based cookers witnessing high demand. The availability of these appliances with multiple burners and in varying sizes, depending upon the requirement and space, will also contribute to the segment’s growth.

The offline segment accounted for nearly three-quarters of the global market in 2021. The growing demand for micro-oven products in countries such as China and India has helped build the network of kitchen appliance distributors and resellers. Lower maintenance costs with long-lasting customer relationships is the major factor boosting this segment. The rising demand for cost-effective kitchen appliances is a major opportunity that offline players can capitalize on and keep up with the competition from online sales channels.

Asia Pacific held the dominant share in the global market due to the increasing demand for convection microwave appliances from consumers in China and India. The rising trend of oil-free cooking in Japan and the use of motorized rotisseries with food locking capabilities will help to fuel this regional market. In China, the market is driven by the growing demand for enameled cavity-based cookers, while in India, there is a high demand for 4D hot air-based oven products.

Key players in the market are undertaking major initiatives such as mergers and acquisitions, partnerships, agreements, product launches, and global expansion to keep up with the competition. Locking indicator-based pressure cookers, cooktops with premium glass finishing and energy-efficient cooking solutions, no-pressure steam settings in cookers, and stacking function and hot air grilling functionality in ovens are some of the major focus areas among players.

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Cookers & Ovens Market Report Highlights

• The cooktops and cooking range segment accounted for the largest share of the global revenue in 2021. The rising trend of dual heat sensor-based induction cooktops is boosting sales statistics within this segment

• The Middle East & Africa is projected to witness the highest CAGR from 2022 to 2028. This can be attributed to growing funding from private firms in South Africa to procure adjustable cooking settings in cooktops & cooking ranges

• The online segment is projected to register the fastest growth during the forecast period. This growth is attributed to the availability of customer-oriented delivery services and safe and efficient payment options

Cookers & Ovens Market Segmentation

Grand View Research has segmented the global cookers & ovens market based on type, distribution channel, and region:

Cookers & Ovens Type Outlook (Revenue, USD Million, 2017 - 2028)

• Cooktops & Cooking Ranges

• Ovens

• Cookers

Cookers & Ovens Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)

• Offline

• Online

Cookers & Ovens Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Rest of Europe

• Asia Pacific

  • China

  • India

  • Japan

  • Rest of Asia Pacific

• Central & South America

  • Brazil

  • Argentina

  • Rest of Central & South America

• Middle East & Africa

  • Saudi Arabia

  • South Africa

  • Rest of Middle East & Africa

List of Key Players in the Cookers & Ovens Market

• Electrolux AB

• Haier Group

• Samsung

• LG Electronics

• Robert Bosch GmbH

• GROUPE SEB

• Zwilling

• Fissler

• Koninklijke Philips N.V.

• WMF Group