Quadintel published a new report on the Kitchen Appliances Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
The global kitchen appliances market size was US$ 264.60 million in 2021. The global kitchen appliances market is forecast to grow to US$ 426.70 million by 2030 by growing at a compound annual growth rate (CAGR) of 6.0% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
The rising trend of smart homes and the increasing popularity of technology-driven appliances will fuel the growth of the smart kitchen appliances market. Connected appliances are expected to gain significant traction in the coming years. Therefore, the majority of appliance manufacturers are offering smart and connected refrigerators to attract customers.? Samsung launched ‘Family Hub refrigerator,’ in 2019. The refrigerator offers advanced features that automate meal planning and other daily tasks and deliver a more personalized experience. ?Thus, such advancements will escalate the growth of the global kitchen appliances market during the study period.
Growing purchasing power will allow consumers to purchase efficient appliances. Therefore, it will benefit the kitchen appliances market throughout the forecast period.
Growing launches of advanced technologies will also contribute to the growth of the global kitchen appliances market. For instance, Whirlpool Corporation unveiled its Smart Countertop oven under the brand name of WLabs in 2019.
Availability of cost-friendly kitchen appliances will also drive the market forward.
The Asia-Pacific kitchen appliances market is forecast to grow at the highest growth rate. It is owing to the presence of the fastest growing economies in the region. In addition, the growing urban population, together with the increasing purchasing power of the population, will also contribute to the growth of the market. Trending smart kitchen infrastructure and the popularity of innovative appliances will drive the market forward.
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COVID-19 Impact Analysis
The wake of the pandemic has drastically affected the entire hospitality sector. Most of the countries announced a complete lockdown, which forced hotels and restaurants to shut the doors for dine-in facilities. However, the concept of a ghost kitchen grew exponentially. As a result, it has been beneficial for the global kitchen appliances market.
The high cost of kitchen appliances has been a significant obstacle limiting the industry growth during the pandemic. Due to the wake of the pandemic, the demand for luxury products reduced drastically. As a result, it hampered the growth of the global kitchen appliances market. In addition, challenges faced by the manufacturing units further hampered the growth of the global kitchen appliances market.
Competitors in the Market
General Electric (GE
Life is Good (LG)
Other Prominent Players
The global kitchen appliances market segmentation focuses on Product, Fuel, Distribution Channel, Application, Product Structure, and Region.
By Product Type Outlook
By Fuel Type Outlook
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By Distribution Channel Outlook
By User Application Outlook
By Product Structure Outlook
Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America
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Final Report will add the analysis of the impact of COVID-19 on this industry.”
In the highly import dependent Kitchen Appliances Market, a large number of indigenous manufacturers of syringes and needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.
The report provides a snapshot of the Kitchen Appliances Market. It begins with the introduction section which mentions the features and uses of syringes and needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes and needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.
An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes and needles and problems associated with usage. Government legislation in the market has been discussed in the next section.
The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section. A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability
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