The Latin America, Middle East and Africa Electric Kettle Market would witness market growth of 5.8% CAGR during the forecast period (2023-2030).
The has grown and changed significantly due to technological improvements, shifting consumer preferences, and the demand for convenience and energy economy. This versatile kitchen appliance has become a staple in households and commercial settings, revolutionizing the way to heat water for various applications. Safety is a fundamental need in any kitchen appliance. Electric kettles are designed with built-in safety features such as automatic shutoff mechanisms and boil-dry protection. These features prevent accidents and ensure the kettle does not overheat or continue operating when insufficient water exists.
Electric kettles have diverse applications that extend beyond their primary function of heating water. They are commonly used for preparing hot beverages like tea, coffee, and hot chocolate. The speed and efficiency of electric kettles make them indispensable for brewing the perfect cup of tea, where water temperature and steeping time are crucial for flavor extraction. Additionally, electric kettles are utilized for cooking purposes, such as preparing instant noodles, soups, and oatmeal. Their rapid boiling capability saves time in the kitchen, making them a handy tool for busy individuals and families. Furthermore, they sterilize water essential for infants during outdoor activities like camping.
The UAE's tax-free environment, which includes no personal income tax, positively impacts disposable income. This means that individuals can retain a larger portion of their earnings. The UAE government has implemented various initiatives to improve the standard of living, including wage protection systems, labor reforms, and efforts to reduce the gender pay gap. These initiatives have led to higher incomes for many residents.
Furthermore, consumer spending in the UAE is increasing rapidly. The retail economy as a whole saw a noteworthy 13 percent gain in expenditure. This growth was due to a surge in foreign tourists visiting the UAE, which more than quadrupled to 14 million in 2022 because of important events like the FIFA World Cup in neighboring Qatar. As a result, the LAMEA region will see an increase in demand for electric kettles in the upcoming years.
The Brazil market dominated the LAMEA Electric Kettle Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $153.8 Million by 2030. The Argentina market is showcasing a CAGR of 6.3% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 5.5% during (2023 - 2030).
Based on Application, the market is segmented into Residential, and Commercial. Based on Raw Material, the market is segmented into Stainless Steel, Plastic, Glass, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Electric Kettle Market is Projected to reach USD 5.8 Billion by 2030, at a CAGR of 4.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Aroma Housewares Company, Conair LLC (American Securities LLC), Hamilton Beach Brands, Inc., Groupe SEB, Spectrum Brands Holdings, Breville USA, Inc., bonavitaworld, TTK Prestige Limited, Crompton Greaves Consumer Electricals Limited, and Koninklijke Philips N.V.
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