Home Consumer Products Household Cooking Appliance Market Size, Demand, Value, Forecast to 2031

Household Cooking Appliance Market

Household Cooking Appliance Market Size, Share & Trends Analysis Report By Product Type (Cooktops and Cooking Ranges, Ovens, Specialized Appliances), By Structure (Built-In, Freestanding), By Distribution Channel (Brick and Mortar, E-Commerce) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Report Code: SRCP54785DR
Study Period 2019-2031 CAGR 6.8%
Historical Period 2019-2021 Forecast Period 2023-2031
Base Year 2022 Base Year Market Size USD 281.4 Billion 
Forecast Year 2031 Forecast Year Market Size USD 510.7 Billion
Largest Market Asia Pacific Fastest Growing Market Europe
The sample report only takes 30 secs to download, no need to wait longer.

Market Overview

The global household cooking appliance market size was valued at USD 281.4 billion in 2022. It is estimated to reach USD 510.7 billion by 2031, growing at a CAGR of 6.8% during the forecast period (2023–2031).

Highlights

  • Cooktops and cooking ranges dominate the product type segment
  • Freestanding household cooking appliances dominate the structure segment
  • Brick and mortar channel dominates the distribution channel segment
  • Asia-Pacific is the highest shareholder in the global market

The term "household cooking appliance" refers to electrical and non-electrical apparatus that aids in preparing food in the home. The primary products are electric stoves, microwave ovens, barbecues, grills, and other domestic cooking appliances. A stove with an integrated electrical heating element for baking and cooking is known as an electric stove or electric range.

Some contemporary stoves are packaged with integrated extractor hoods. An infinite switch known as a simmer stat and a rotary switch with a finite number of locations that each engage a distinct set of resistances, and hence a different heating power can be used to control electric stove burners. Some people might have a thermostat. Electricity and cooking gas are the main fuels used in home cooking gadgets. The kitchenware is employed in both domestic and business settings.

Market Dynamics

Global Household Cooking Appliance Market Drivers:

Increasing Number of Working Individuals

The household cooking appliance market is anticipated to undergo varied developments due to changing customer lifestyles and preferences and socio-economic and macroeconomic indicators. Macroeconomic factors, such as rising consumer awareness, rising population, and consequential increase in disposable income, are the crucial factors anticipated to favorably influence the household cooking appliance market. With the rising working population, families become financially more stable. The innovative appliances in the market have made cooking much simpler and hassle-free.

Additionally, owing to the growing household disposable income, families can afford and are shifting toward technically advanced cooking appliances, which aid them in saving time. This trend can be largely observed in various countries as the regions witness steady and continuous growth in the sales of cooking appliances. The demand for cooking appliances that operate on induction technology and cooktops with multiple hot surfaces is expected to surge. This is further expected to favorably influence the demand over the forecast period.

Induction as a Better Alternative to Gas or Electric Cooktops

The growing energy prices are expected to drive demand for household cooking appliances. In developed and developing regions, cooking appliances and induction cooktops are expected to witness a surging demand. Increasing environmental awareness and promoting the use of more energy-saving sources for cooking is expected to drive the market demand for induction cooktops, microwave ovens, and cooking ranges.

The induction cooktops are superior to gas or electric cooktops as they utilize maximum heat energy with minimal wastage. In addition, they are much cheaper than the gas cooktops. Induction cooktops help save up to 50% of the average cooking time due to the quick response of the electromagnetic cycle. Household cooking appliances that use electricity are anticipated to experience significant growth during the forecast period due to the growing emphasis on reducing energy consumption.

Global Household Cooking Appliance Market Restraint:

Growing Number of Single Professionals/Students

A huge population of individuals working or staying away from home and studying but have not set up an independent household. They prefer to take a rented accommodation or live in a paying guest where the kitchen may not be fully furnished. Generally, such individuals prefer to eat outside rather than cooking at home. The unmarried single individuals are targeted by the growing food and catering industries, thereby posing a challenge for the growing household cooking appliances market. A lack of cooking time after reaching home from college or work is expected to drive consumers toward ready-to-eat food, which may negatively influence the household cooking appliances market.

Global Household Cooking Appliance Market Opportunities:

Technological Advancements

Key market players emphasize technological advancements for effective smooth ventilation and temperature control tracking. Lately, companies are heavily investing in R&D to manufacture state-of-the-art products incorporating digital technologies such as AI and the IoT. Smart appliances, such as intelligent ovens, can perform a variety of basic as well as advanced tasks and can be remotely monitored from a smartphone. These devices perform several tasks, including automatic temperature control depending on the food, remote preheating, and automatic turn-off when the meal is ready, features that make cooking hassle-free.

A few of these devices also have the feature of intelligent heating that shifts the power to the food, where it is needed the most for an efficient cooking experience. Char-Broil LLC, a U.S.-based manufacturer of grills, smokers & fryers, and cooking accessories, launched SmartChef, a smart grill with a TRU-Infrared cooking system that wirelessly syncs with the Char-Broil gas grill smartphone application. One can monitor the cooking time, temperature, and gas levels from their smartphone, showing real-time updates as the meal cooks. Such technological advancements are expected to create opportunities for market growth.

Regional Analysis

Based on region, the global household cooking appliance market is bifurcated into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.

Asia-Pacific Dominates the Global Market

Asia-Pacific is the most significant global household cooking appliance market shareholder and is anticipated to exhibit a CAGR of 7.42% during the forecast period. The Asia-Pacific is anticipated to maintain the greatest market share for household cooking appliances. This results from major regional players and ASEAN's sizeable residential market. Future development of the Asia-Pacific home cooking market is anticipated to be affected by the rising purchasing power of consumers. In addition, the region has already become a significant manufacturing center for home kitchen appliances due to low labor costs and the availability of inexpensive consumer products. Therefore, prominent manufacturers from other regions are expanding their operations in the Asia-Pacific region.

Additionally, the regional market's growth is anticipated to be bolstered by urbanization, rising consumer purchasing power, lifestyle shifts, and early adoption of innovative technologies. In recent years, several Asia-Pacific developing nations have increased their adoption of digital technologies. The Internet of Things is having a significant impact on kitchen appliances (IoT). The region's nations have improved Internet infrastructure, encouraging consumers to buy digital kitchen appliances. In addition, Japan and South Korea have the greatest Internet users and are home to numerous electronics, domestic appliances, and sensor manufacturers. The ability of these appliances to reduce operating costs contributes to the expansion of the market for smart kitchen appliances in several Asia-Pacific countries.

Europe is predicted to exhibit a CAGR of 5.40% over the forecast period. The early adoption of innovative technologies by the regional consumer base and the gradual change in lifestyles characterize the growth of the European market. Similarly, the consumers in this region are also observed to be deploying multi-functional ovens available at premium pricing.

North America is growing considerably due to the introduction of smart home culinary appliances. The region is anticipated to be driven by its inhabitants' rise in purchasing power. The presence of major market players in the area also facilitates the growth of the domestic cooking appliance market in the country. In addition, the U.S. cooking appliance market accounted for a considerable revenue share overall. The favorable energy consumption policies, the tech-savvy population, and the rising popularity of home automation technologies contribute to the dominance of the U.S. market over the forecast period.

In the Middle East and Africa region, the market is still in its infancy. The shifting consumer spending patterns are expected to drive market growth. As high-speed data networks and modular kitchens are deployed, IoT-enabled appliances are anticipated to gain traction. An increasing number of customers in the area choose multi-functional cooking appliances due to their availability at high prices. The Middle East and Africa is expected to be the most lucrative market during the forecast period due to rising disposable income, rising quality of life standards, and the rising penetration of home improvement products. The shifting consumer spending habits and lifestyle changes primarily boost the market in this region. The adoption of modular kitchens and high-speed internet penetration in this region are other factors leading to market growth.

Report Scope

Report Metric Details
Segmentations
By Product Type
  1. Cooktops and Cooking Ranges
  2. Ovens
  3. Specialized Appliances
By Structure
  1. Built-In
  2. Freestanding
By Distribution Channel
  1. Brick and Mortar
  2. E-Commerce
Company Profiles Electrolux AB GE Appliances Koninklijke Philips N.V. Haier Group LG Electronics Samsung Robert Bosch GmbH Smeg S.p.A Whirlpool Corporation Winia Electronics Co. Ltd. Panasonic Corporation Thermador.
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports

Segmental Analysis

The global household cooking appliance market is segmented by product type, structure, and distribution channel.

Based on product type, the global market is bifurcated into cooktops and cooking ranges, ovens, and other specialized appliances. 

The cooktops and cooking ranges segment dominates the global market and is projected to exhibit a CAGR of 6.05% over the forecast period. The growing popularity of modular kitchens worldwide characterizes the cooktops and cooking ranges segment. The need for sleeker appliances that would fit in the available space of the kitchen premises also attracts the audience to make purchase decisions in favor of cooktops and cooking ranges. The installation is simplified, and the ranges are available in multi-variants ranging from premium to lesser expensive pricing. Manufacturers are also integrating intelligent features in these appliances, intending to deliver energy-efficient products and ensure quicker cooking mechanisms. These multi-attributes are expected to ensure the dominance of the cooktops and cooking ranges over the forecast period. The cooktops and cooking ranges segment is further segmented into gas, electric, and induction.

The ovens segment has witnessed successful evolution concerning varied fuel choices, product type alternatives based on preferred cooking styles, and various other features. Recently, ovens are emerging as a 'must-have' appliance at home with the continuous improvements and remodeling of the oven structure. Similarly, the plethora of technology upgrades in terms of connectivity, built-in cameras, voice assistants, and touchscreens has led to the prominence of the ovens market over recent years. The ovens segment is divided into conventional and convection, microwave, and combination.

Based on structure, the global market is divided into built-in and freestanding household cooking appliances. 

The freestanding household cooking appliances segment is the most significant contributor to the market and is estimated to exhibit a CAGR of 5.53% over the forecast period. Freestanding appliances have finished sides and can stand independently without integrating into the cabinetry. In contrast, built-in appliances are installed into the kitchen walls or cabinets, offering a sophisticated and modern look in the kitchen. Most home kitchens have freestanding ranges. However, the built-in range models are becoming increasingly popular.

The freestanding market segment is expected to outperform over the forecast period. This is due to the widespread availability, variety of sizes, and ease of maintenance of freestanding household cooking appliances. These appliances' replacement parts are easily accessible. These appliances also take up more space and are popular among consumers.

Based on distribution channels, the global market is divided into brick and mortar and e-commerce channels. 

The brick and mortar channel segment is the largest revenue contributor and is expected to exhibit a CAGR of 5.14% over the forecast period. Many household consumers will still prefer the brick-and-mortar channel and purchase cooking appliances from retail and other specialty stores. Physical stores allow customers to gain a firsthand experience as the tangibility of the product may lead to making quick purchasing decisions. Sometimes, customers are hesitant to buy the cooking appliance product just from browsing it on the website regarding e-commerce sales. The ability to test an appliance out in person and make an informed purchase is currently made possible by physical stores.

The e-commerce channel is anticipated to outpace retail sales in recent years, becoming a major concern for retailers. Retailers are pursuing innovative strategies to cope with the changing situation. They partner with e-commerce websites and provide 'buy-online and pick-up in store' facilities to promote sales channels and household appliances.

Market Size By Product Type

Recent Developments

  • February 2023- With the introduction of its built-in range of appliances in India, Electrolux widened its selection of home appliances. The new assortment includes microwaves, ovens, cooktops, range hoods, dishwashers, and coffee machines. According to the manufacturer, the new line of household appliances features a sleek, contemporary design.
  • May 2023- In India, Philips introduced a new air fryer, expanding its selection of kitchen appliances. In collaboration with Croma, the company has introduced a novel cooking window air fryer with a see-through window. The main feature of the new air fryer from Philips is a see-through window that enables users to monitor the cooking process.

Top Key Players

Electrolux AB GE Appliances Koninklijke Philips N.V. Haier Group LG Electronics Samsung Robert Bosch GmbH Smeg S.p.A Whirlpool Corporation Winia Electronics Co. Ltd. Panasonic Corporation Thermador. Others

Frequently Asked Questions (FAQs)

What is the estimated growth rate (CAGR) of the global Household Cooking Appliance market?
The global Household Cooking Appliance market is growing at a CAGR of 6.35 % from (2023–2031).
Asia Pacific region has the highest growth rate in the Household Cooking Appliance market.
The cooktops and cooking ranges are the leading segment of the market during the forecast period.
Electrolux AB; GE Appliances; Koninklijke Philips N.V.; Haier Group; LG Electronics; Samsung; Robert Bosch GmbH; Smeg S.p.A; Whirlpool Corporation; Winia Electronics Co. Ltd.; Panasonic Corporation; and Thermador are the prominent players in the Household Cooking Appliance market.
Technological Advancement is one of the key opportunities in the Household Cooking Appliance market.


We are featured on :

This website uses cookies to ensure you get the best experience on our website. Privacy Policy