According to recently released data by Future Market Insights (FMI), the freestanding large cooking appliance market is estimated to be worth US$ 20,333.0 million in 2023. It is projected to reach US$ 30,977.5 million by 2033, with a Compound Annual Growth Rate (CAGR) of 4.3% from 2023 to 2033.
The global freestanding large cooking appliances market is poised to feel the influence of peer markets within the cooking appliances industry, such as the built-in large cooking appliances market and the induction cooktops market. Through thorough analysis of these interconnected industries, Future Market Insights has uncovered valuable insights that can inform the development of distinctive strategies for pursuing growth and seizing opportunities.
Supermarkets, megastores, and malls are examples of contemporary retail structures that are gaining popularity. Consequently, producers of freestanding kitchen appliances are benefiting from this development and collaborating with these final consumers.
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Also, several manufacturers in this industry are developing cutting-edge appliances and services for the kitchen. Innovations in technology, such as the development of attractive, complex kitchen equipment that can be controlled via an app, are accelerating the demand in the market. As an increasing number of individuals are concerned about their personal health, the market for tranquil and clean kitchen appliances is increasing rapidly.
Who is winning?
Energy-efficient goods are being developed by market participants by examining new raw material and production options, as well as novel thermal element designs. Some of the biggest companies on the market are always updating their product line with the most cutting-edge and cutting-edge technology. A significant portion of their R&D budgets is going into developing new products that take use of cutting-edge technology like artificial intelligence (AI) and the internet of things (IoT).
Major players present in the freestanding large cooking appliances market are Samsung Electronics Co. Ltd; Morphy Richards; LG Electronics Inc.; Whirlpool Corporation; Hitachi Appliances Inc.; Koninklijke Philips N.V.; AB Electrolux; Haier Group Corporation; GE Appliances; and Robert Bosch GmbH.
Key Takeaways from the Freestanding Large Cooking Appliances Market Study
- By sales channel, online retailers segment is projected to gain traction over the assessment period
- India is expected to dominate the South Asia freestanding large cooking appliances market though 2032
- The U.S. is expected to account for significant share in the global freestanding large cooking appliances market
- In terms of product type, the freestanding hobs segment will witness highest growth over the forecast period
- Based on application, the commercial segment will grow at a fastest rate through 2022 & beyond
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Future Market Insights, in its new offering, provides an unbiased analysis of the global freestanding large cooking appliances market, presenting historical demand data (2015-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the freestanding large cooking appliances market based on the product type (Freestanding hobs, Freestanding Ovens, others), application (residential and commercial), sales channel (hypermarkets/ supermarkets, convenience stores, online markets and others) across seven major regions.
Freestanding Large Cooking Appliances Market by Category
Product Type:
- Freestanding Hobs
- Freestanding Ovens
- Others
By Application:
- Residential
- Commercial
Sales Channel:
- Wholesalers/Distributors
- Multi-Brand Stores
- Specialty Stores
- Hypermarket/Supermarkets
- Online Retailers
- Other Sales Channel
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa (MEA)
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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