Kitchen Appliances Market is Expected to Reach $253.4 Billion by 2020
May 1, 2015
According to a new report by Allied Market Research titled, “Global Kitchen Appliances Market – Size, Share, Global Trend, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation, and Forecast 2013 – 2020,” the global kitchen appliances market is expected to garner $253.4 billion by 2020.
The growth of the kitchen appliances market is supplemented by rising disposable incomes, changing lifestyles, increasing health concerns and the growing food and services industry. The kitchen appliances market primarily includes refrigerators, cooking appliances, dishwashers and others. The other category includes coffee maker, grinders, kettles, etc.
With respect to user application, the household segment accounted for the larger market share. The market has also been analyzed from the perspective of fuel type. The gas appliances accounted for a major part of the kitchen appliances market, followed by electric appliances. The demand for electric appliances market is forecast to grow at a relatively higher rate compared to the gas-operated appliances.
The market is further segmented into the structure type, which includes built-in and freestanding appliances. Because of the rise in living standards and increase in disposable incomes, customers are increasingly opting for modular kitchen set up. However, the adoption is less because of the high cost of these appliances.
March 19, 2018 | Featured
Formica’s FORM Student Innovation Competition Winners Announced