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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Household cooking appliances include a range of cooking products such as microwaves, cooktops and cooking ranges, and other specialized products. These products can be based on auto programs, thermal regulators, and, smart programs. These products are designed for easy and smooth cooking. Also, these products used for both cooking as well as cleaning purposes.

The global household cooking appliances market was valued at US$ 84,508.20 million in terms of revenue in 2019 and is predicted to grow at a CAGR of 5.9% during the forecast period (2020 to 2027).

Drivers:

Growing population around the globe coupled with the increasing number of small households is a prime factor fueling the market growth of the household cooking appliances. The market for cooking appliances is also attributed to the increasing number of nuclear families that require at least one cook-top. Hence, growing number of nuclear families are driving demand for kitchen appliances. Robust growth in the residential building due to increasing population is again expected to foster market growth. In addition, increasing disposable income of the consumers is driving demand for efficient and modern kitchen appliances. The overall development of economies coupled with the advent of affordable and efficient kitchen appliances is again propelling market growth. Increasing labor participation is boosting the national GDP which is further fueling the market growth of the household cooking appliances. Thus, growing disposable income of the consumers across the developing region is expected to foster the market growth of the household cooking appliances.

North America region dominated the global household cooking appliances market in 2019, accounting for 32.0% revenue share, followed by Europe and Asia Pacific, respectively

Figure 1. Global Household Cooking Appliances Market, Revenue Share (%), By Region, 2019

Household Cooking Appliances  | Coherent Market Insights

Market Restraints

High initial cost as compared to conventional cooking appliances is expected to hinder the market growth. The modern appliances require frequent maintenance which is again limiting the use of advanced cooking appliances. This factor is hampering market growth. Moreover, increasing population of single who prefers eating out than cooking at home is affecting the demand for the product. Also, the growth of the food and catering industry around the globe is again expected to restrict the market growth of the household cooking appliances.

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Household Cooking Appliances Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 84,508.20 Mn
Historical Data for: 2017 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 5.9% 2027 Value Projection: US$ 133,680.03 Mn
Geographies covered:
  • Regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Segments covered:
  • By Product Type: Cook tops and cooking ranges (Gas cooktop, Electrical cooktop, Induction cooktop, and Others), Oven (Conventional, Microwave, and Combination), and Specialized Appliances 
Companies covered:

AB Electrolux,  Daewoo Electronics Corporation, Whirlpool Corporation, Haier Group Company, LG Electronics, Panasonic, Philips Electronics, Videocon Industries Limited, Robert Bosch Gmbh, Fisher & Paykel Appliances Holdings Ltd., Stoves Appliance Company (Glen Dimplex Home Appliances Ltd.), and Miele & Cie. KG.

Growth Drivers:
  • Growing population around the globe coupled with the increasing number of small households 
  • In addition, increasing disposable income of the consumers 
Restraints & Challenges:
  • High initial cost as compared to conventional cooking appliances 

Market Opportunities

Growth in the urban population around the globe is expected to provide lucrative opportunities to the market. According to the stats by United Nation, at present, 55% of the world’s population lives in urban areas, and this number is expected to increase to 68% by 2050 driven by the gradual shift in residence of the human population from rural to urban areas, combined with the overall growth of the world’s population. This could add another 2.5 billion people to urban areas by 2050. Also, growing popularity of connected cooking, that involves the interconnection of kitchen appliances via the Internet of Things (IoT) is expected to offer profitable opportunities. This is attributed to the advancement in technology-driven by changing consumer preferences and demand that compels manufacturers to launch such an innovative product. Also, the growing demand for appliances that are easy to use and handle is further expected to support the market growth in the near future. 

Figure 2. Global Household Cooking Appliances Market – Opportunity Analysis

Household Cooking Appliances  | Coherent Market Insights

On the basis of product types, Cook tops and cooking ranges type dominated the global household cooking appliances market in 2019 with around 44.9% of market share in terms of revenue, followed by ovens and specialized appliances, respectively.

Figure 3. Global Household Cooking Appliances Market, Revenue Share (%), By Energy Type, in 2019

Household Cooking Appliances  | Coherent Market Insights

Market Trends

Modern food consumption is one of the current trends in the market. Modern food products require baking, grilled, and reheating of the food products which is driving demand for an advanced cooking appliance such as microwave. Less time spent in microwaves and reduce the energy cost is one of the other major factors driving demand for household cooking appliances. Furthermore, strategic partnership and agreement among key players for market expansion on regional as well as the global level are growing trends. In February 2018, LG Electronics USA has expanded its smart kitchen appliance partnerships with plans to integrate Tovala – the effortless cooking solution and meal service – into LG smart ovens and ranges. Hence, the growing adoption of such initiatives by the key manufacturer is contributing to the market growth of the household cooking appliances.

Global Household Cooking Appliances Market - Impact of Coronavirus (Covid-19) Pandemic

Key raw material suppliers are facing severe economic repercussions owing to Coronavirus (Covid-19) Pandemic. Also, the demand for household cooking appliances faced hindrance amidst the ongoing pandemic outbreak. In addition to this, lockdown measures as well as social?distancing guidelines have resulted into delays in project construction and supply chain disruption. Moreover, restrictions on travel, business activities, and border closures have reduced energy demand in transport and industry. With site access, almost all lockdown measures and guidelines require companies to follow precautionary safety measures. Stricter hygiene protocols amid pandemic certainly may limit the number of workers allowed on site and increase the risk of delays. This is expected to restrain the growth of household cooking appliances market for short period.

Competitive Section:

  1. AB Electrolux
  2. Daewoo Electronics Corporation
  3. Whirlpool Corporation
  4. Haier Group Company
  5. LG Electronics
  6. Panasonic
  7. Philips Electronics
  8. Videocon Industries Limited
  9. Robert Bosch Gmbh
  10. Fisher & Paykel Appliances Holdings Ltd.
  11. Stoves Appliance Company (Glen Dimplex Home Appliances Ltd.)
  12. Miele & Cie. KG

Few Recent Developments

In January 2020, Panasonic announced that it has collaborated with Drop, the smart kitchen platform, to simplify the lives of home cooks using their appliances.

Household cooking appliances include several varieties of cooking products. These products are useful for smooth and easy cooking. In addition to this, household cooking appliances are useful for cooking as well as cleaning purposes. This includes cooktops & cooking ranges, microwaves, and many other specialized products. These products can be based on smart programs, thermal regulators, and auto programs.

Market Dynamics

Increasing population around the globe coupled with the growing number of small households is a prime factor fueling the market growth of the household cooking appliances. For instance, according to a report published by World Population Prospects- United Nations Population in 2019, the global population could grow to around 8.5 million in 2030, 9.7 million in 2050, and 10.9 million in 2100.

High initial cost of household cooking appliances compared to conventional cooking appliances is likely to harm the target market growth. Additionally, the modern appliances require frequent maintenance which is anticipated to restrain the target market growth over the forecast period. Furthermore, rise in population of individuals who prefer eating outside food than cooking at home is a factor that may hinder the global household cooking appliances market over the forecast period.

North America region accounted for significant market share in the global household cooking appliances market owing to rising popularity of connected cooking, that involves the interconnection of kitchen appliances via the Internet of Things (IoT). In addition, strategic collaborations and partnerships among target market key players in North America is boosting the region’s household appliances market.

Key features of the study:

  • This report provides in-depth analysis of household cooking appliances market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global household cooking appliances market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include AB Electrolux, Daewoo Electronics Corporation, Whirlpool Corporation, Haier Group Company, LG Electronics, Panasonic, Philips Electronics, Videocon Industries Limited, Robert Bosch Gmbh, Fisher & Paykel Appliances Holdings Ltd., Stoves Appliance Company (Glen Dimplex Home Appliances Ltd.), and Miele & Cie. KG.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology upgradation, market expansion, and marketing tactics
  • The global household cooking appliances market report caters to various stakeholders in this industry including investors, suppliers, household cooking appliances manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global household cooking appliances market

Detailed Segmentation:

  • Global Household Cooking Appliances Market, By Product Type:
    • Cook tops and cooking ranges
      • Gas cooktop
      • Electrical cooktop
      • Induction cooktop
      • Others
    • Oven
      • Conventional
      • Microwave
      • Combination
    • Specialized Appliances
  • Global Household Cooking Appliances Market, By Region:
    • North America
      • U.S.
        • By Product Type
          • Cook tops and cooking ranges
            • Gas cooktop
            • Electrical cooktop
            • Induction cooktop
            • Others
          • Oven
            • Conventional
            • Microwave
            • Combination
          • Specialized Appliances
      • Canada
        • By Product Type
          • Cook tops and cooking ranges
            • Gas cooktop
            • Electrical cooktop
            • Induction cooktop
            • Others
          • Oven
            • Conventional
            • Microwave
            • Combination
          • Specialized Appliances
    • Europe
      • U.K.
        • By Product Type
          • Cook tops and cooking ranges
            • Gas cooktop
            • Electrical cooktop
            • Induction cooktop
            • Others
          • Oven
            • Conventional
            • Microwave
            • Combination
          • Specialized Appliances
      • France
        • By Product Type
          • Cook tops and cooking ranges
            • Gas cooktop
            • Electrical cooktop
            • Induction cooktop
            • Others
          • Oven
            • Conventional
            • Microwave
            • Combination
          • Specialized Appliances
      • Germany
        • By Product Type
          • Cook tops and cooking ranges
            • Gas cooktop
            • Electrical cooktop
            • Induction cooktop
            • Others
          • Oven
            • Conventional
            • Microwave
            • Combination
          • Specialized Appliances
      • Rest of Europe
        • By Product Type
          • Cook tops and cooking ranges
            • Gas cooktop
            • Electrical cooktop
            • Induction cooktop
            • Others
          • Oven
            • Conventional
            • Microwave
            • Combination
          • Specialized Appliances
    • Asia Pacific
      • China
        • By Product Type
          • Cook tops and cooking ranges
            • Gas cooktop
            • Electrical cooktop
            • Induction cooktop
            • Others
          • Oven
            • Conventional
            • Microwave
            • Combination
          • Specialized Appliances
      • India
        • By Product Type
          • Cook tops and cooking ranges
            • Gas cooktop
            • Electrical cooktop
            • Induction cooktop
            • Others
          • Oven
            • Conventional
            • Microwave
            • Combination
          • Specialized Appliances
      • ASEAN
        • By Product Type
          • Cook tops and cooking ranges
            • Gas cooktop
            • Electrical cooktop
            • Induction cooktop
            • Others
          • Oven
            • Conventional
            • Microwave
            • Combination
          • Specialized Appliances
      • Australia
        • By Product Type
          • Cook tops and cooking ranges
            • Gas cooktop
            • Electrical cooktop
            • Induction cooktop
            • Others
          • Oven
            • Conventional
            • Microwave
            • Combination
          • Specialized Appliances
      • Rest of Asia Pacific
        • By Product Type
          • Cook tops and cooking ranges
            • Gas cooktop
            • Electrical cooktop
            • Induction cooktop
            • Others
          • Oven
            • Conventional
            • Microwave
            • Combination
          • Specialized Appliances
    • Latin America
      • Brazil
        • By Product Type
          • Cook tops and cooking ranges
            • Gas cooktop
            • Electrical cooktop
            • Induction cooktop
            • Others
          • Oven
            • Conventional
            • Microwave
            • Combination
          • Specialized Appliances
      • Argentina
        • By Product Type
          • Cook tops and cooking ranges
            • Gas cooktop
            • Electrical cooktop
            • Induction cooktop
            • Others
          • Oven
            • Conventional
            • Microwave
            • Combination
          • Specialized Appliances
      • Mexico
        • By Product Type
          • Cook tops and cooking ranges
            • Gas cooktop
            • Electrical cooktop
            • Induction cooktop
            • Others
          • Oven
            • Conventional
            • Microwave
            • Combination
          • Specialized Appliances
      • Rest of Latin America
        • By Product Type
          • Cook tops and cooking ranges
            • Gas cooktop
            • Electrical cooktop
            • Induction cooktop
            • Others
          • Oven
            • Conventional
            • Microwave
            • Combination
          • Specialized Appliances
    • Middle East & Africa
      • Middle East
        • By Product Type
          • Cook tops and cooking ranges
            • Gas cooktop
            • Electrical cooktop
            • Induction cooktop
            • Others
          • Oven
            • Conventional
            • Microwave
            • Combination
          • Specialized Appliances
      • Africa
        • By Product Type
          • Cook tops and cooking ranges
            • Gas cooktop
            • Electrical cooktop
            • Induction cooktop
            • Others
          • Oven
            • Conventional
            • Microwave
            • Combination
          • Specialized Appliances
  •  Company Profiles
    • AB Electrolux.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Daewoo Electronics Corporation
    • Whirlpool Corporation
    • Haier Group Company
    • LG Electronics, Panasonic
    • Philips Electronics
    • Videocon Industries Limited
    • Robert Bosch Gmbh
    • Fisher & Paykel Appliances Holdings Ltd.
    • Stoves Appliance Company (Glen Dimplex Home Appliances Ltd.)
    • Miele & Cie. KG.

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • PEST Analysis
      • PORTER’s Five Forces Analysis
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
  4. Global Household Cooking Appliances Market - Impact of Coronavirus (Covid-19) Pandemic
    • Overview
    • Factors Affecting Global Household Cooking Appliances Market – COVID-19
    • Impact Analysis
  5. Global Household Cooking Appliances Market, By Product Type, 2017- 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Cook tops and cooking ranges
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
      • Sub-segment Trends
        • Gas cooktop
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
        • Electrical cooktop
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
        • Induction cooktop
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
        • Others
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
    • Oven
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
      • Sub-segment Trends
        • Conventional
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
        • Microwave
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
        • Combination
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
        • Specialized Appliances
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
  6. Global Household Cooking Appliances Market, By Region, 2017- 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2020 - 2027
    • North America
      • Market Share Analysis, By Country, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
    • Latin America
      • Market Share Analysis, By Country, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
        • Argentina
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
        • Rest of Latin America
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
    • Europe
      • Market Share Analysis, By Country, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
        • France
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
        • Spain
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
        • Rest of Europe
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
    • Asia Pacific
      • Market Share Analysis, By Country, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • China
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
        • India
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
        • Australia
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
        • South Korea
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
        • Rest of Asia Pacific
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
    • Middle East & Africa
      • Market Share Analysis, By Sub-Region, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Sub-Region, 2020 - 2027
        • Middle East
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
        • Africa
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
  7. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • AB Electrolux.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Daewoo Electronics Corporation
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Whirlpool Corporation
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Haier Group Company
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • LG Electronics, Panasonic
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Philips Electronics
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Videocon Industries Limited
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Robert Bosch Gmbh
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Fisher & Paykel Appliances Holdings Ltd.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Stoves Appliance Company (Glen Dimplex Home Appliances Ltd.)
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Miele & Cie. KG.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 25 market data tables* and 15 figures* on "Household Cooking Appliances Market” - Global forecast to 2027.

FAQgrowicon

Frequently Asked Questions

The market for global household cooking appliances is forecast to surpass US$ 133,680.03 million by 2027 witnessing a CAGR of 5.9% between 2020 and 2027.
Growing population around the globe coupled with the increasing number of small households is a prime factor fueling the market growth of the household cooking appliances.
Modern food consumption is one of the current trends in the market.
High initial cost as compared to conventional cooking appliances is expected to hinder the market growth.
Major players operating in the Market include AB Electrolux, Daewoo Electronics Corporation, Whirlpool Corporation, Haier Group Company, LG Electronics, Panasonic, Philips Electronics, Videocon Industries Limited, Robert Bosch Gmbh, Fisher & Paykel Appliances Holdings Ltd., Stoves Appliance Company (Glen Dimplex Home Appliances Ltd.), and Miele & Cie. KG.
The Market was valued around US$ 84,508.20 million in terms of revenue in 2019.
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