Global Kitchen Appliances Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2024-2032)

Kitchen Appliances Market Analysis

Smart kitchen appliances streamline kitchen tasks, from prep work to clean-up. Key considerations include user-friendliness and how well the features align with consumers’ lifestyles. These appliances can be operated via voice commands or apps, eliminating the need for direct interaction. Additionally, connected appliances can reduce maintenance expenses.

As per the India Brand Equity Foundation (IBEF), FDI in the Appliances and Consumer Electronics (ACE) industry has nearly doubled to USD 481 million by June 2022, up from USD 198 million in 2021. Rapid urbanization is shaping the kitchen appliances market dynamics and trends. This drives demand for modern housing, leading to the increased adoption of the latest kitchen appliances for enhanced convenience and efficiency.

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Kitchen Appliances Market Trends

Increasing E-Commerce Growth

The growth of the e-commerce sector boosts the sales of several kitchen appliances owing to a wide selection, competitive pricing, and convenient home delivery options, enhancing consumer accessibility and convenience. A Bain & Company survey in 2021 revealed that 26% of consumers are now more inclined to purchase appliances online than before the pandemic, potentially increasing online purchases of white goods to 40% of total industry sales by 2025, up from 15%–20% previously, which further contributes to the growth of the kitchen appliances market.

Furthermore, SharkNinja, a maker of kitchen and household devices, reported strong third-quarter results in 2024, with earnings rising 27% and sales increasing 35% year-over-year. The company attributed this growth to its diverse product range and effective e-commerce strategies. Breville, another market player, experienced significant growth in its coffee machine category in the U.S., driven by a strong market share and presence in major retail stores.

Integration of Multi-Functional Appliances

Multi-functional kitchen appliances like air fryers, pressure cookers, and convection ovens are increasingly popular for saving space and providing versatile cooking options. The rise of multi-functional appliances, such as air fryers and convection ovens, cater to space-conscious consumers seeking versatile cooking solutions. Sleek, compact designs are also gaining popularity, reflecting a preference for appliances that blend aesthetic appeal with practical functionality in contemporary kitchen settings, thus supporting the kitchen appliances demand forecast.

Market players are readily launching multi-functional appliances that can aid market growth. For instance, in August 2024, Crock-Pot introduced the MultiMeal Multicooker, an innovative appliance that allows simultaneous cooking of two separate dishes with dual temperature control. It features two 3.7-quart nonstick pots with ceramic coating and offers five versatile cooking functions: slow cook, sear/saute, steam, keep warm, and bake. This design aims to save time and reduce effort in meal preparation.

Industry News

June 10, 2024

Havells India partnered with UAE's Jumbo Group to launch kitchen appliances. Initial online sales on jumbo. ae will expand to retail. Jumbo Serve will handle after-sales service, enhancing brand presence and customer accessibility.

April 03, 2024

Samsung India launched AI-powered home appliances, including refrigerators, air conditioners, and microwaves, targeting the premium market with bespoke AI for smarter living, customization, and energy efficiency, enhancing user experience.

Opportunities in Kitchen Appliances Market

The rising demand for energy-efficient kitchen appliances is driven by the need to lower electricity consumption and reduce utility bills, promoting cost savings and sustainability. Consumers' emphasis on convenience and time-saving solutions is evident in the adoption of appliances like dishwashers and induction cooktops, which streamline daily kitchen routines. Additionally, increased environmental awareness is encouraging manufacturers to adopt sustainable practices in appliance production, meeting the demand for eco-friendly and energy-efficient solutions and further boosting kitchen appliances market opportunities.

Several government initiatives also support this trend. The U.S. government offers federal income tax credits to homeowners for energy-efficient home upgrades, including kitchen appliances. These credits allow up to USD 3,200 annually to cover 30% of the cost of eligible improvements, encouraging the adoption of energy-efficient products.  The U.S. Department of Energy (DOE) has further awarded over USD 1 billion to states for Home Energy Rebate Programs. These programs provide rebates to residents for energy-efficient home upgrades, including kitchen appliances, aiming to reduce energy consumption and utility costs.

Kitchen Appliances Market Restraints

Rising inflation rates have led to increased production costs and higher retail prices for kitchen appliances.  As of December 2021, appliance prices were up 13% year over year, and HVAC system prices were up 14% year over year, according to the Bureau of Labor Statistics. This increase is attributed to higher costs for raw materials and supply chain disruptions. This has resulted in consumers delaying or reducing purchases, affecting overall market demand.

The global semiconductor shortage has impacted the production of smart kitchen appliances, leading to delays and reduced availability in the kitchen appliances demand. The shortage is going from bad to worse, spreading from cars to consumer electronics, including kitchen appliances.

Stricter environmental regulations require manufacturers to invest in research and development to produce energy-efficient appliances. While beneficial in the long term, these investments can increase production costs and affect profit margins. Companies are facing increased costs due to the need to comply with new energy efficiency standards, which can lead to higher prices for consumers and potential reductions in profit margins for manufacturers.

Kitchen Appliances Market Dynamics

There is a noticeable shift towards smart kitchen technologies, with appliances increasingly incorporating IoT and AI capabilities. These innovations enable remote control, voice activation, and personalised settings through smartphone apps, enhancing convenience and connectivity in modern kitchens, and fuelling the demand of kitchen appliances market.  For instance, the bespoke 4-Door Flex™ Refrigerator with AI Family Hub™+ was revealed at CES 2024.  This refrigerator features AI Vision Inside, which uses internal cameras to recognise stored items, suggest recipes, and manage grocery lists. It also offers remote control and monitoring via the SmartThings app, allowing users to adjust settings and receive notifications on their smartphones.

Moreover, in September 2024, LG launched the ThinQ ON hub, a multi-protocol device that integrates various smart home appliances, including kitchen devices. It supports connectivity options like Matter, Thread, Zigbee, and Wi-Fi, allowing seamless communication between devices.

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Kitchen Appliances Industry Segmentation

“Kitchen Appliances Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Dishwashers
• Microwave Ovens
• Refrigerators
• Mixers and Grinders
• Food Processors
• Other

Market Breakup by Fuel Type

• Cooking Gas
• Electricity
• Others

Market Breakup by End Use

• Residential
• Commercial

Market Breakup by Distribution Channels

• Offline Stores
• Online Stores

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Kitchen Appliances Market Share

By Product Insights

Refrigerators are anticipated to grow at a CAGR of 6.3% in the forecast period whereas mixers and grinders are expected to grow at a CAGR of 5.7% in the same period. The increasing demand for advanced refrigeration technologies, such as smart refrigerators with features like humidity control and built-in water filtration systems, is driving the growth of the kitchen appliances industry. Consumers are becoming more health-conscious and prioritise fresh food storage, which has led to innovations in refrigerator designs that enhance food preservation capabilities. For instance, features like multi-gas systems and humidity-controlled drawers are increasingly sought after, reflecting a shift towards appliances that support healthier lifestyles.

By Fuel Type Insights

Electricity is the major energy source, powering a wide range of devices such as refrigerators, microwaves, dishwashers, and electric stoves. This dominance is due to the versatility and convenience of electric appliances, which are integral to modern kitchens. While cooking gas is commonly used for gas stoves and ovens, its application is more limited compared to electric appliances in kitchen appliances market.

By End Use Insights

The residential sector's demand for kitchen appliances is increasing due to a growing need for modern housing equipped with the latest kitchen technology. Higher disposable incomes enable households to invest in advanced appliances that enhance convenience and efficiency. The popularity of food blogs, cooking shows, and social media has sparked a greater interest in home cooking, driving the kitchen appliances demand in this sector. Integrating smart technologies in kitchen appliances appeals to tech-savvy consumers, offering automated and connected kitchen solutions.

Growing health consciousness in the kitchen appliances market has led to the adoption of appliances like air fryers, blenders, and steamers that promote healthier cooking methods. Busy households value time-saving appliances such as dishwashers, microwaves, and induction cooktops, which simplify cooking and cleaning. The commercial sector is expected to grow at a CAGR of 6.2% in the forecast period.

By Distribution Channels Insights

The convenience of shopping from home at any time is a significant benefit, eliminating the need to travel to physical stores, and increasing the industry revenue. Online platforms typically provide a wider selection of products, including various brands, models, and price ranges, often surpassing the inventory available in physical stores. Individuals can easily compare prices across multiple sellers to find the best deals, and access to customer reviews and ratings aids in making informed decisions.

Home delivery is another major advantage, with many online stores offering free or expedited shipping options, making it easy to receive even large appliances directly at home. Flexible return policies further enhance the appeal of online shopping, allowing consumers to return or exchange products if they are not satisfied. Online retailers frequently offer exclusive sales, discounts, and promotional codes, providing significant savings to attract individuals.

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Kitchen Appliances Market Regional Insights

North America Kitchen Appliances Market Growth

North America currently leads the market, driven by substantial sales, high appliance ownership, and growth in the restaurant industry. According to the U.S. Census Bureau's Retail Commodity Sales data, major household appliance sales in the United States alone reached over USD 80 billion in 2023, reflecting significant kitchen appliances demand growth. The National Center for Health Statistics reports that over 95% of US households own essential kitchen appliances like refrigerators, stoves, and microwaves, indicating a strong replacement and upgrade market.

Additionally, the National Restaurant Association forecasts that US restaurant industry sales will exceed USD 900 billion in 2024, highlighting a rising demand for commercial kitchen appliances. This combination of robust consumer spending, widespread appliance ownership, and expanding restaurant sector growth will continue to boost the market in North America. Meanwhile, the Canadian market is expected to grow at a CAGR of 4.9% between 2024 and 2032.

Asia Pacific Kitchen Appliances Market Dynamics

The market in this region is expected to grow at a CAGR of 7.3% in the forecast period. The Indian market is anticipated to grow at a CAGR of 8.3% between 2024 and 2032. The proliferation of online retail platforms has made kitchen appliances more accessible, contributing to kitchen appliances market value. For example, India's e-commerce sector has seen significant growth, facilitating the purchase of kitchen appliances.

Furthermore, a recent report highlighted that 98% of Australians prioritise value when purchasing expensive items like refrigerators and washing machines, viewing them as investments that simplify daily routines.

Europe Kitchen Appliances Market Opportunities

The market in Germany is anticipated to exhibit a CAGR of 4.4% in the forecast period. European consumers are adopting smart kitchen appliances that offer energy efficiency and connectivity, further boosting the kitchen appliances market revenue. For instance, the European Union's focus on energy-efficient appliances has led to increased demand for products that comply with stringent energy standards.

There is a growing preference for eco-friendly appliances, driven by environmental awareness and government regulations promoting sustainable products. In October 2024, APPLiA, the European association representing the home appliance industry, launched a manifesto titled A Fair and Sustainable Europe 2024-2029. The manifesto outlines strategies to enhance sustainability and innovation within the industry.

Latin America Kitchen Appliances Market Trends

The Brazilian market accounted for 2.6% of the global market share in 2023. The market in Mexico is expected to grow at a CAGR of 5.2% between 2024 and 2032. Improving economic conditions in countries like Brazil and Mexico are leading to increased consumer spending on household appliances. The region's GDP growth is positively impacting the kitchen appliances industry analysis.

Urban development projects are increasing the demand for modern kitchen appliances in new residential constructions. Government initiatives to improve housing are supporting this trend.

Middle East and Africa Kitchen Appliances Market Drivers

The Saudi Arabian market is expected to grow at a CAGR of 6.4% between 2024 and 2032. Countries in the Middle East and Africa are experiencing urban growth, leading to higher demand for kitchen appliances. The urban population is expected to increase significantly, driving kitchen appliances industry revenue.

The expansion of the hospitality sector, including hotels and restaurants, is boosting the demand for commercial kitchen appliances. Tourism growth in the region is a contributing factor. Moreover, in June 2022, Panasonic Marketing Middle East and Africa (PMMAF) reaffirmed its commitment to market expansion and consumer well-being by introducing new kitchen appliances aimed at enriching the cooking experience.

Innovative Kitchen Appliances Startups

Startups in the market are driving innovation by integrating advanced technologies and addressing evolving consumer preferences. Companies are developing AI-powered appliances that automate cooking processes, offering users convenience and efficiency. Meanwhile, some other companies have introduced automated devices for specific tasks like making flatbreads and catering to niche markets.

upliance.ai

Founded in 2021, upliance.ai is an Indian startup in the kitchen appliances market that focuses on AI-powered home appliances. In 2023, they launched an AI cooking assistant that automates various cooking processes, including chopping, stirring, mixing, and heating and offers over 500 guided recipes. The company raised INR 34 crores in a seed funding round led by Khosla Ventures, valuing the startup at INR 143 crores.

Rotimatic

Rotimatic, developed by Zimplistic Pte. Ltd., is an automated kitchen appliance designed to make flatbreads like rotis. Invented by Pranoti Nagarkar and Rishi Israni in 2008, Rotimatic automates the process of mixing, kneading, flattening, and cooking dough into fresh rotis within minutes. As of April 2021, over 70,000 units had been sold across 20 countries.

Competitive Landscape 

Prominent corporations are allocating resources towards research and development with the aim of launching innovative kitchen appliances. These appliances encompass the incorporation of intelligent technologies and enhancements in energy efficiency. Manufacturers in kitchen appliances market are integrating advanced technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI) into appliances, enabling features like remote control, voice activation, and personalised settings.

Key Industry Players

LG Electronics Inc.: Founded in 1947, with its headquarters in South Korea, products encompass televisions, home theatre systems, refrigerators, washing machines, monitors, wearable devices, solar modules, and smart appliances.

Haier Inc.: Founded in 1984, with its headquarters in China, the company engages in manufacturing, marketing, and selling diverse home appliances and consumer electronics products.

Samsung Electronics Co., Ltd.: Founded in 1969, with its headquarters in South Korea, specialises in manufacturing consumer electronics, appliances, digital media devices, semiconductors, memory chips, and integrated systems across various industries.

Whirlpool Corporation: Founded in 1911, with its headquarters in the United States, is a top kitchen and laundry appliance company dedicated to enhancing home life and inspiring generations through our brands.

Other global kitchen appliances market key players are BSH Hausgeräte GmbH, Panasonic Corporation, AB Electrolux, Fisher & Paykel Appliances Ltd., SMEG S.p.A., and Miele & Cie. KG, among others.

Recent Developments

January 8, 2024

Panasonic expanded its partnership with Fresco to introduce a revolutionary cooking assistant for the Panasonic HomeCHEF 4-in-1 multi-oven, showcasing this smart appliance at the Consumer Electronics Show.

October 27, 2023

Usha International expanded into premium kitchen appliances with the iChef range, featuring the Steam Oven, Heater Blender, two Smart Air Fryers, and a Programmable Kettle.

Kitchen Appliances Market Report Snapshots

Kitchen Appliances Market Size

Kitchen Appliances Market Growth

Kitchen Appliances Market Trends

Kitchen Appliances Market Share

Kitchen Appliances Manufacturers

Kitchen Appliances Market Regional Analysis