What Is The Current and Historic Market Size Analysis Of The Large Cooking Appliance Market?
The large cooking appliance market has seen considerable growth due to a variety of factors.
• The substantial kitchen appliance industry has seen a remarkable rise in its market size in the past few years. Its expansion is anticipated to go from $34.4 billion in 2024 to $36.8 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.0%. Factors like changing consumer habits and preferences, focus on design and aesthetics, heightened health consciousness among consumers, urban growth and space limitations, as well as the demand for customized and personalized products have all contributed to this growth during the historic period.
What Are The Predictions for The Large Cooking Appliance Market Size?
The Large Cooking Appliance market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, significant growth is projected for the large cooking appliance market. This sector is anticipated to expand to a staggering $48.91 billion by 2029, with a compound annual growth rate (CAGR) of 7.4%.
Factors expected to drive this growth during the forecast period include improved global economic situations, increased safety features, customization options, solutions for urban living, and the impact of culinary trends. Key trends to look out for during this period include integration of smart technology in the kitchen, demand for energy-efficient appliances, trends towards health and wellness, focus on design and aesthetics, and the desire for increased cooking convenience.
Which Drivers Are Accelerating Growth In The Large Cooking Appliance Market?
The surge in urbanization is anticipated to fuel the expansion of the large cooking appliances market. Urbanization details the significant shift of people from the countryside to cities. The aggregate number of large cooking appliances increases due to urbanization, rising income levels, and decreasing family sizes, accelerating growth in the large cooking appliances sector. For example, in October 2022, the World Bank, an international fiscal institution based in the US, published an article stating that over half of the global population resides in cities in 2022. By 2045, the world's urban population is projected to grow by 1.5 times, reaching 6 billion. Consequently, the ongoing urbanization trend is accelerating the growth of the large appliances market.
What Are The Core Segments Of The Global Large Cooking Appliance Market?
The large cooking appliance market covered in this report is segmented –
1) By Product: Cooktops, Ovens, Specialized Appliances
2) By Sales Channel: Brick And Mortar, E-Commerce
3) By Application: Household, Commercial
Subsegments:
1) By Cooktops: Gas Cooktops, Electric Cooktops, Induction Cooktops
2) By Ovens: Wall Ovens, Range Ovens, Convection Ovens, Microwave Ovens
3) By Specialized Appliances: Slow Cookers, Steam Ovens, Sous Vide Cookers, Griddles And Grills
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Which Emerging Trends Are Reshaping The Large Cooking Appliance Market Size?
The key trend emerging within the Large Cooking appliance market is product innovation. Major companies in this market are fostering innovations in a bid to establish their dominance. For instance, Samsung, a Korean electronics manufacturer, launched the Bespoke AI (artificial intelligence) Oven in 2022. The Bespoke AI Oven stands out with its smart features aimed at enriching the culinary experience. It employs a visually-based food identification technology, AI Pro Cooking5, 6, which adjusts the oven's cooking parameters while keeping food under observation to prevent overcooking. Moreover, an assortment of steam cooking settings is provided in the Bespoke AI Oven for the preparation of nutritious and delectable steamed meals.
Who Are the Key Players In The Large Cooking Appliance Market?
Major companies operating in the large cooking appliance market include:
• Samsung Electronics Co. Ltd.
• Whirlpool Corporation
• Haier Group Corporation
• Robert Bosch GmbH
• AB Electrolux
• GE Appliances
• LG Electronics Inc.
• BSH Hausgeräte GmbH
• Fisher & Paykel Appliances Co. Ltd.
• SMEG S.p.A
• Miele & Cie. KG
• KitchenAid
• Thermador Groupe SA
• Dacor LLC
• Wolf Appliance
• La Cornue
• Bertazzoni SPA
• ILVE SPA
• Sub-Zero Inc.
• BlueStar Ltd.
• Capital Cooking Equipment
• Tecnogas Superiore
• American Range
• AGA Rangemaster Ltd.
What Are The Regional Insights Into The Large Cooking Appliance Market?
Asia-Pacific was the largest region in the large cooking appliance market in 2024. The regions covered in the large cooking appliance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
