New York, NY, Sept. 25, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Household Cooking Appliances Market By Product (Cooktops and Cooking Ranges, Ovens. and Specialized Appliances), By Application (Built-In and Free Standing), and By Distribution Channel (Hypermarkets/Supermarkets, B2B, E-Commerce, Specialty Retail, and Others): Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2018–2026”. According to the report, the global household cooking appliances market accounted for USD 68.21 billion in 2018 and is expected to reach around USD 111.62 billion by 2026, at a CAGR of 6.3% between 2019 and 2026.
Household cooking appliances are an important part of an individual’s domestic life. These appliances help in meeting the basic needs of consumers, i.e., food. The household cooking appliances market is expected to grow remarkably over the forecast time period, owing to the rising number of nuclear families globally that has led to the increased purchase of these appliances. Families now prefer cooking appliances with the latest technology that help in food preparation at a quick pace without compromising the quality. Moreover, changing lifestyles and increasing disposable income are encouraging consumers to buy fancier cooking appliances, which will drive the household cooking appliances market in the years ahead. However, the high prices of these appliances may limit the household cooking appliances market, as these won’t be affordable for lower-middle-class families.
Browse through 54 Tables & 28 Figures spread over 110 Pages and in-depth TOC on “Global Household Cooking Appliances Market Size, Share, Analysis and Forecast, 2018–2026”.
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The household cooking appliances market is fragmented based on the product, application, and distribution channel. The product segment includes specialized appliances, ovens, and cooktops and cooking ranges. Cooktops and cooking ranges will dominate the market, due to the use of the latest technology like IoT-enabled products that can be controlled by smartphones. The ovens segment is expected to witness moderate growth in the future, owing to the launch of new types of ovens with automatic features and simple control panels that make cooking easy. Microwave ovens have seen a significant surge in their sales in recent times, due to the increasing consumer demand.
By application, the household cooking appliances market includes built-in and free standing. The built-in segment is expected to witness moderate growth in the years ahead, owing to the flourishing real estate sector. Consumers now prefer homes that are full-furnished and have a quality built-in home appliance set-up.
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By distribution channel, the market is classified into specialty retail, B2B, e-commerce, hypermarkets/supermarkets, and others. Hypermarkets/supermarkets are the major market distribution segment, due to their features like availability of different product types and brands, huge discounts, and tangibility. Moreover, the world is moving toward online, which will be driving the e-commerce segment growth in the future.
North America is expected to witness significant growth rate over the forecast timeline in the household cooking appliances market globally. The region accounts for nearly 31.32% of the market share globally. The U.S. is expected to be the main player of the region, due to the high demand for smart appliances in the country.
Browse the full “Household Cooking Appliances Market By Product (Cooktops and Cooking Ranges, Ovens, and Specialized Appliances), By Application (Built-In and Free Standing), and By Distribution Channel (Hypermarkets/Supermarkets, B2B, E-Commerce, Specialty Retail, and Others): Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2018–2026” Report at https://www.zionmarketresearch.com/report/household-cooking-appliances-market
The European household cooking appliances market will register a remarkable rate of growth over the forecast time period, owing to the various technological advancements that are leading to new and more efficient product launches and the increasing urbanization and industrialization. The UK, France, and Germany are the main players in this region.
The Asia Pacific is expected to witness the highest CAGR, around 7.1%, over the forthcoming years. The changing lifestyles and rising number of nuclear families across the region are fuelling the region’s household cooking appliances market. India and China are the major players in this region. China is also known for manufacturing a large number of these appliances at a comparatively lower price, which makes the country an important player in driving this regional market’s development in the future.
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The Latin American region is likely to grow moderately over the forecast timeline, owing to the ongoing technological advancements that are leading to the manufacturing of different products across this region and the increasing disposable income and growing customer awareness regarding the benefits of automatic cooking appliances in Brazil and other countries in the region.
The Middle East and Africa will witness grow reasonably in the future, owing to the growing popularity of e-commerce in GCC countries and rising per-capita income that influences the consumers to buy the latest household cooking appliances. South Africa is another profitable country in the region’s household cooking appliances market, due to the improving lifestyles of the people.
Some key players in the household cooking appliances market are Haier Group, Koninklijke Philips, Hitachi, Electrolux, LG Electronics, Robert Bosch, The Whirlpool, Samsung, Miele, and Midea Group.
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This report segments the global household cooking appliances market as follows:
Global Household Cooking Appliances Market: Product Analysis
- Cooktops and Cooking Ranges
- Ovens
- Specialized Appliances
Global Household Cooking Appliances Market: Application Analysis
- Built-In
- Free Standing
Global Household Cooking Appliances Market: Distribution Channel Analysis
- Hypermarkets/Supermarkets
- B2B
- E-Commerce
- Specialty Retail
- Others
Global Household Cooking Appliances Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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