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Report Overview
The global kitchen appliances market reached approximately USD 221.8 billion in 2023. The market is assessed to grow at a CAGR of 4.6% between 2024 and 2032 to attain a value of around USD 362.1 billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- As per the U.S. Census Bureau, U.S. retail and food services monthly sales increased to USD 705.2 billion in April 2024.
- According to the ABS, in Australia, household goods retailing rose by 0.7% (USD 37.7m) in April 2024.
- India’s domestic production of electronic systems has increased to USD 101 billion in FY23, which also contributes to the share of modern kitchen appliances.
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.
Kitchen Appliances Market Report Snapshots
Kitchen Appliances Market Size
Kitchen Appliances Market Growth
Kitchen Appliances Market Trends
Kitchen Appliances Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The kitchen appliances market is projected to grow at a CAGR of 4.6% between 2024 and 2032.
The major market drivers are the growing advancements in technology and rising disposable incomes.
The key trends in the market for kitchen appliances include the increasing launch of innovative products, busy lifestyles led by working people worldwide, and demand from commercial kitchens.
The various fuel types in the market for kitchen appliances include cooking gas, and electricity, among others.
The various product types in the market for kitchen appliances include dishwashers, microwave ovens, refrigerators, mixers and grinders, and food processors, among others.
The market key players are LG Electronics Inc., Haier Inc., Samsung Electronics Co., Ltd., Whirlpool Corporation, BSH Hausgeräte GmbH, Panasonic Corporation, AB Electrolux, Fisher & Paykel Appliances Ltd., SMEG S.p.A., and Miele & Cie. KG, among others.
A good-quality kitchen appliance requires less maintenance, works better, and lasts longer.
In 2023, the global market attained a value of nearly USD 221.8 billion.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 362.1 billion by 2032.
The market is categorised according to the distribution channels, which include online stores and offline stores.
Based on the end use, the market is divided into residential and commercial.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
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