Large Cooking Appliances Market to Grow with a CAGR of 5.4% through 2028
Increased standard of living and consumer
preference for modular kitchens are factors driving the Global Large Cooking
Appliance market in the forecast period 2024-2028.
According to the TechSci Research report, “Large Cooking Appliances Market – Global Industry Size, Share, Trends, Competition,
Opportunity, and Forecast, 2018-2028F”, the Global Large Cooking
Appliances Market stood at USD36.18 billion in 2022 and is anticipated to grow
with a CAGR of 5.4% in the forecast period, 2024-2028. The global market for
large cooking appliances has witnessed significant growth over the years,
driven by various factors that have shaped consumer preferences, technological
advancements, and economic conditions. In this comprehensive analysis, we will
explore the major drivers of the large cooking appliances market, with each
driver elaborated upon in separate sections.
The large cooking appliances market is driven by a confluence of factors
that reflect evolving consumer preferences, technological advancements,
environmental consciousness, urbanization trends, and economic conditions. As
consumers continue to seek convenience, energy efficiency, and innovative
features in their kitchen appliances, manufacturers will need to adapt and
innovate to meet these changing demands. The large cooking appliances market is
poised for further growth and evolution as it continues to respond to the
dynamic landscape of consumer needs and preferences.
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Large Cooking Appliances Market.”
The large cooking appliances market is continually evolving to meet the
demands and preferences of modern consumers. As technology advances and
lifestyles change, new trends emerge that shape the way we cook and interact
with kitchen appliances. In this comprehensive analysis, we will explore the
major new trends in the large cooking appliances market, with each trend
elaborated upon in separate sections.
Health and wellness have become focal points in the large cooking
appliances market. Consumers are increasingly concerned about making nutritious
meals at home and seeking appliances that support their dietary goals. Steam
cooking is a notable trend in this category, as it preserves vitamins and
minerals in foods while retaining their natural flavors. Steam ovens, equipped
with precise temperature and humidity control, enable users to prepare dishes
that are not only healthier but also more flavorful. Air frying technology is
gaining traction as a healthier alternative to traditional frying methods.
Large cooking appliances, such as air fryer ovens and ranges with air fryer
capabilities, allow users to achieve crispy textures with significantly less
oil.
The large cooking appliances market is undergoing rapid transformation
driven by trends related to smart technology, sustainability, versatility,
aesthetics, health, and safety. These trends reflect the changing needs and
preferences of consumers who are seeking appliances that offer convenience,
efficiency, and improved cooking experiences.
Manufacturers in the large cooking appliances market must continually
innovate to stay competitive and address these evolving trends. As the industry
moves forward, it will be fascinating to witness how these trends continue to
shape the design, functionality, and overall landscape of large cooking
appliances.
The global Large Cooking Appliances market is segmented based on product
type, end user, sales channel, and region.
Based on the product type, with largest market share in the market for
large cooking appliances, the cooktops category is leading in 2022. It contains
a variety of goods, including wood, induction, hoods, and others. Despite
having the biggest market share, the category is predicted to experience a fall
during the projection period as a result of the rising demand for sophisticated
sustainable appliances.
Based on region, the market is segmented into North America, Europe,
Asia Pacific, Middle East & Africa, and South America. In 2022, Asia
Pacific is anticipated to witness fastest VAGR during the forecasted period.
Rising living standards have made consumers opt for improved kitchen
appliances, driving the demand for household cooking appliances.
Major companies operating in the global large cooking appliances market are:
- Samsung
Electronics Co. Ltd
- Morphy Richards
- LG Electronics
Inc.
- Whirlpool
Corporation
- Hitachi
Appliances Inc.
- Koninklijke
Philips N.V.
- AB Electrolux
- Haier Group
Corporation
- GE Appliances
- Robert Bosch GmbH
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“The demand for large cooking appliances is on the rise due to shifting
consumer lifestyles and preferences. With more people cooking at home, there is
a greater need for efficient, versatile, and technologically advanced
appliances that can handle a wide range of cooking techniques. Additionally,
the emphasis on health-conscious and sustainable cooking has driven consumers
to seek out appliances that offer features like energy efficiency and steam
cooking, further boosting demand in the market.during the forecasted period.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Large Cooking Appliance Market
By Product Type (Cooktops, Ovens, Others), By End User (Household, Commercial),
By Sales Channel (Hypermarkets/Supermarkets, Multi-Branded Stores, Exclusive
Stores, Online, Others), By Region, By Competition Forecast &
Opportunities, 2018-2028F, has evaluated the future growth potential of the large cooking
appliances market globally and provides statistics and information on market
structure, size, share, and future growth. The report provides cutting-edge
market intelligence and helps decision-makers to make sound investment
decisions. Besides, the report also identifies the emerging trends along with
essential drivers, challenges, and opportunities present in the market of large
cooking appliances globally.
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