Rising living standards and the popularity of modular kitchens propel the Global Large Cooking Appliance market in the 2024-2028 forecast period.
As per the TechSci Research report, "Large Cooking Appliances Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F," the market reached USD 36.18 billion in 2022 and is expected to grow at a CAGR of 5.4% during 2024-2028. This growth is fueled by evolving consumer preferences, technological advancements, and economic conditions. In this analysis, we'll delve into the key drivers of the large cooking appliances market, each discussed separately.
The market is influenced by various factors such as changing consumer preferences, technological advancements, environmental concerns, urbanization, and economic conditions. Consumers increasingly seek convenience, energy efficiency, and innovative features in kitchen appliances. Manufacturers must adapt and innovate to meet these demands, driving further growth and evolution in the large cooking appliances market as it responds to dynamic consumer needs.
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The large cooking appliances market adapts to modern consumer demands and lifestyle changes, driven by advancing technology. Health and wellness are key trends, with a focus on nutritious meals and appliances like steam ovens preserving food's natural goodness. Air frying technology offers healthier cooking alternatives with less oil.
Smart technology, sustainability, versatility, aesthetics, health, and safety drive rapid transformation in the market. Consumers seek convenience, efficiency, and better cooking experiences. Manufacturers must innovate to stay competitive and meet evolving trends, shaping the design and functionality of large cooking appliances.
The global Large Cooking Appliances market segments include product type, end user, sales channel, and region. Cooktops lead the market in 2022 but are expected to decline due to the rising demand for sustainable appliances. Asia Pacific anticipates the fastest growth, driven by rising living standards and demand for improved 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 rising due to shifting consumer lifestyles and preferences. With more people cooking at home, there's a need for efficient, versatile, and technologically advanced appliances that handle various cooking techniques. Health-conscious and sustainable cooking trends drive consumers towards energy-efficient and steam cooking appliances, further boosting market demand," said Mr. Karan Chechi, Research Director at TechSci Research, a global management consulting firm.
"The report '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' evaluates the future growth potential of the global market. It offers statistics, market structure, size, share, and future growth insights. Providing cutting-edge market intelligence, the report aids decision-makers in making sound investment decisions. It also identifies emerging trends, drivers, challenges, and opportunities in the global market for large cooking appliances."
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