Asia Pacific Kitchen Appliances Market
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Consumers today are quite conscious about their health. Unhealthy food habits have adverse effect on the health of people and therefore, people now chose better food. Health conscious consumers prefer kitchen appliances that are capable of cooking food with less or no oil. Health conscious consumers are fostering the market growth of smart kitchen appliances. Technological advancement has allowed companies to offer superior quality products.
The demand for such products have witnessed unprecedented growth in the last few years. Upgrading kitchen appliances has been a trend in the recent past, and therefore, has contributed to the market growth. Cooking appliance is witnessing nominal growth due to the introduction of induction and electric cooking appliances. Smart kitchen appliances despite being a creative and potential market, would take substantial amount of time to grow, globally. Strategies such as collaborations and acquisitions would be some of the key strategies companies are adopting to sustain in the competitive market.
Asia Pacific kitchen appliances market is expected to grow at a CAGR of 9.3% during the forecast period 2016-2022. Refrigerators, cooking appliances, dishwashers and others are the majorly used kitchen appliances. Refrigerators were the leading appliances within the kitchen appliances market in 2015. The report highlights the adoption of Kitchen Appliances in Asia Pacific. Based on the Product Type, the Asia Pacific Kitchen Appliances Market is segmented into Refrigerator, Cooking Appliances, Dishwasher and Others segment.
Based on the User Application, the market is bifurcated into Commercial and Household segment. According to the Fuel type, the market is segmented into Electric, Cooking Gas and Other segments. Based on the Product Structure, the market is segmented into Built-in and Free Stand segment.
The countries included in the report are China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia Pacific. Key companies profiled in the report includes Whirlpool Corporation, AB Electrolux, Haier Group Corporation, Koninklijke Philips N.V., Panasonic Corporation, Robert Bosch GmbH, Samsung Electronics, Morphy Richards and Dacor.