According to the latest report by IMARC Group titled, “Kitchen Appliances Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global kitchen appliances market to reach a value of US$ 322.3 Billion by 2024, registering a CAGR of around 5% during 2019-2024.
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Kitchen appliances comprise refrigerators, food processors, blenders and dishwashers, which are employed in the smooth functioning of kitchen activities. They are mainly operated by electricity or gas and are used for cooking, storing and cleaning purposes. Kitchen appliances are available in a wide range of colors, sizes, mechanisms and materials that help users in saving time, cost and energy while cooking.
The inflating income levels and changing lifestyles of people have resulted in the increasing adoption of smart kitchen appliances across the globe. Apart from this, manufacturers are incorporating wireless, internet or Bluetooth technologies in various products, which is impelling the market growth. They are also introducing modular and energy-efficient kitchen equipment such as induction cooktops, speed cooking ovens and warming drawers. Furthermore, altering eating patterns and increasing health consciousness among the young population is catalyzing the demand for homecooked food. This is consequently boosting the overall sales of kitchen appliances in the residential sector.
Explore full report with table of contents: https://www.imarcgroup.com/kitchen-appliances-market
Key Market Segmentation:
Breakup by Product Type
2. Microwave Owens
3. Induction Stoves
5. Water Purifiers
Breakup by Structure
2. Free Stand
Breakup by Fuel Type
1. Cooking Gas
Breakup by Application
Breakup by Distribution Channel
1. Supermarkets and Hypermarkets
2. Specialty Stores
3. Online Stores
4. Departmental Stores
Breakup by Region
1. Asia Pacific
2. North America
4. Middle East and Africa
5. Latin America
The report has also analyzed the competitive landscape of the market with some of the key players being Whirlpool Corporation, AB Electrolux, Samsung Electronics Co. Ltd., LG Electronics, Winia Daewoo Electronics, Panasonic Corporation, Haier Group Corporation, BSH Hausgeräte GmbH, Miele & Cie. KG, and Sub- Zero Group, Inc.
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This post was originally published on Trading Herald