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Kitchen Appliances Market Size to Hit $210.80 Billion by 2027; Stoked by Rising Residential & Commercial Sector Worldwide

December 18, 2020 | Consumer Goods

The global kitchen appliances market size is expected to reach USD 210.80 billion by 2027 owing to the rising residential and commercial sector across the globe. This information is published by Fortune Business Insights, in its latest report, titled, “Kitchen Appliances Market Size, Share & COVID-19 Impact Analysis, By Product Type (Refrigerator, Cooking Appliances, Dishwashers, and others), Application (Residential and Commercial), Distribution Channel (Online and Offline), and Region Forecast, 2020-2027.” The report further observes that the market stood at USD 159.29 billion in 2019 and is projected to exhibit 3.7% between 2020 and 2027.


MVP Holdings Inc. Acquires Mealthy Inc. to Strengthen its Position in Consumer Goods Sector


In June 2020, MVP Holdings Inc. announced its acquisition of Mealthy Inc., a leading small kitchen appliance company. The acquisition is expected to strengthen its position in the lucrative consumer goods sector. Mealthy Inc, based in San Antonio, Texas, is known for manufacturing advanced kitchen products and their experience in the business is likely to favor the growth prospects of MVP.


The representatives at MVP Holdings Inc., said, “We are extremely excited at acquiring Mealthy, Inc. that has helped us lick off in a new direction away from the travel industry and foray into the consumer goods sector. Additionally, it presents a strategic opportunity to introduce top-level executive talent under MVP Holdings.”


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/kitchen-appliances-market-104504


Rising Residential & Commercial Sector to Augment Growth


The increasing urbanization activities and the rapid-paced industrialization is driving the demand for advanced residential & commercial sector across the globe. This has led to the high adoption of advanced kitchen appliances for cooking purposes. In addition to this, the rising concept of modular kitchens is expected to contribute to the global kitchen appliances market growth during the forecast period.


Prominent Companies Introducing Advanced Kitchen Product Models to Expand Product Portfolio & Boost Sales Revenue


The kitchen appliances market comprises small, medium, and large companies that are striving to maintain a stronghold by introducing innovative kitchen appliances market. Other key players are focusing on maintaining their presence in the global marketplace by adopting strategies such as partnership, facility expansion, and collaboration that will further contribute to the market growth in the forthcoming years.


Industry Development:



  • August 2018 – Hisense Group announced the acquisition of Gorenje, a Slovenia-based smart kitchen appliances company. The move is likely to aid in establishing the company’s footprint in the lucrative Central and Eastern Europe region.   


List of the Companies Profiled in the Global Market:



  • Electrolux AB (Stockholm, Sweden)

  • The Samsung Group (Seoul, South Korea)

  • LG Electronics Inc. (Seoul, South Korea)

  • BSH Hausgeräte GmbH (Munich, Germany)

  • The Whirlpool Corporation (Michigan, United States)

  • Robert Bosch GmbH (Gerlingen, Germany)

  • Koninklijke Philips N.V. (Amsterdam, Netherland)

  • Miele (Gutersloh, Germany)

  • General Electric Company (Massachusetts, United States)

  • Haier Group Corporation (Qingdao, China)

  • Beko (Istanbul, Turkey)


Further Report Findings:



  • Asia-Pacific stood at USD 52.79 billion in 2019 and is expected to hold the highest position in the global market during the forecast period. This is attributable to the rising consumption of innovative refrigerators in countries such as India and Japan in the region. For instance, as per the data by the Japan Electrical Manufacturers Association (JEMA), overall fridge sales rose by 3.3% in 2019 compared to 2018 in the country.

  • The market in Europe is expected to showcase significant growth backed by the presence of established kitchen appliances manufacturers such as The Samsung Group, BSH Hausgeräte GmbH, Electrolux AB, and others in the region that are introducing advanced kitchen appliances to cater to the rising consumer demand between 2020 and 2027.

  • The refrigerator segment, based on the product, held a market share of about 37.56% in 2019 and is likely to gain momentum owing to the surging demand for innovative refrigerators that aid in prolonging the shelf life of food and other consumable products.


Table of Segmentation:














































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Billion)



 By Product Type




  • Refrigerator

  • Cooking Appliances

  • Dishwashers

  • Others



 By Application




  • Residential

  • Commercial



 By Distribution Channel




  • Online

  • Offline



 By Geography




  • North America (By Product Type, Application, Distribution Channel, and Country)

    • U.S. (By Product Type)

    • Canada (By Product Type)

    • Mexico (By Product Type)



  • Europe (By Product Type, Application, Distribution Channel, and Country)

    • Germany (By Product Type)

    • France (By Product Type)

    • Italy (By Product Type)

    • Spain (By Product Type)

    • U.K. (By Product Type)

    • Rest of Europe (By Product Type)



  • Asia Pacific (By Product Type, Application, Distribution Channel, and Country)

    • China (By Product Type)

    • India (By Product Type)

    • Japan (By Product Type)

    • Australia (By Product Type)

    • Rest of Asia Pacific (By Product Type)



  • South America (By Product Type, Application, Distribution Channel, and Country)

    • Brazil (By Product Type)

    • Argentina (By Product Type)

    • Rest of South America (By Product Type)



  • Middle East & Africa (By Product Type, Application, Distribution Channel, and Country)

    • UAE (By Product Type)

    • South Africa (By Product Type)

    • Rest of the Middle East & Africa (By Product Type)




Global Kitchen Appliances Market
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  • 2016-2018
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