The domestic food preparation appliances market is anticipated to grow at a CAGR of 6.1% over the course of the forecast period, rising from US$ 601,532 Million in 2020 to US$ 963,451 Million in valuation by 2026.
The Domestic Food Preparation Appliances Market is growing steadily due to changing consumer lifestyles and increased emphasis on convenience in kitchen operations. With increased urbanisation and dual-income homes, there is a greater demand for time-saving and efficient kitchen appliances. Smart technology innovation and eco-friendly design are projected to fuel future market growth.
Domestic appliances are mechanical or electrical devices used in everyday life to do household tasks such as cooking, cleaning, and laundry. Domestic appliances are classified into four categories: kitchen appliances, personal care appliances, home comfort appliances, and others. Domestic food preparation appliances refer to a type of kitchen appliance.
Domestic food preparation appliances are any electrical or mechanical devices that make it simple to prepare the food that people consume on a regular basis. The domestic food preparation appliances market is expanding globally due to consumers’ growing desire for simple, convenient lifestyles.
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On the basis of application domestic food preparation appliances market can be segmented as blenders, food processors, juice extractors, grinders and choppers, citrus pressers, mixers and other food preparation appliances. Among all these segments juice extractor is expected to account for the major share in terms of the revenue contribution to the overall market. Increasing consumer concerns for healthy lifestyle is supporting the growth of juice extractor segment worldwide during the forecast period. Moreover, grinders and blenders are also expected to show a substantial growth during the forecast period.
On the basis of distribution channel, the domestic food preparation appliances market segmentation includes supermarket/hypermarket, electronic retail outlets, franchise outlet (company’s brand retail outlets) and e-retailing. Among all these segments supermarket/hypermarket is expected to account for the major market share followed by sell out through internet. Growing retail industry across the globe is expected to support the sellout of domestic food preparation appliances through supermarket/hypermarket in the near future. Sell out through internet is also expected to account for major contributor in terms of revenue generation. This is due to the consumer preferences for convenience and availability of the products at lower price.
Domestic Food Preparation Appliances Market Drivers
Rising urge of the consumers for better and convenient lifestyle is driving the growth of domestic food preparation appliances market across the globe. Moreover continuous innovation and product launches coupled with consumer inclination for having modular kitchen products is attracting the consumer, which is fueling the demand of domestic food preparation appliances during the forecast period. In addition, influence of consumers from various television cookery shows is supporting the demand of domestic food preparation appliances worldwide.
Domestic Food Preparation Appliances Market: Key Players
Few international players operating in domestic food preparation appliances market include Bajaj Electricals Ltd., Koninklijke Philips N.V., Groupe SEB, Sunbeam Mexicana S.A. de CV, Kenwood Ltd., Joyoung Co Ltd., De’Longhi UK Ltd., Joyoung Co Ltd, Whirlpool Corp. and Breville Group Ltd. among others.
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Key Segments
By Product:
- Refrigerator
- Air Conditioner
- Heater
- Washing Machines
- Cooktop
By Distribution Channel:
- Specialty Stores
- E-Commerce
- Supermarket & Hypermarket
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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