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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.”
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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.
List of the Companies Profiled in the Global Market:
Further Report Findings:
Table of Segmentation:
Value (USD Billion)
By Product Type
By Distribution Channel