According to a new report, published by KBV research, The Global Electric Kettle Market size is expected to reach $5.8 billion by 2030, rising at a market growth of 4.3% CAGR during the forecast period.
The Residential segment is leading the Global Electric Kettle Market, by Application in 2022 thereby achieving a market value of $4.9 Billion by 2030. Homeowners value electric kettles for their convenience and time-saving benefits. They can quickly boil water for various purposes, such as making tea, coffee, instant noodles, or oatmeal. The busy lifestyles of many consumers make electric kettles an attractive kitchen appliance. People are becoming more aware of their general health and wellness, which has increased the popularity of tea, herbal infusions, and other hot-water-based beverages.
The Plastic segment is showcasing a CAGR of 4.5% during (2023 - 2030). Plastic electric kettles are often more cost-effective than stainless steel or glass counterparts. This affordability can attract price-conscious consumers and drive market growth. Plastic electric kettles are typically lightweight, making them easy to handle and suitable for travel or outdoor use. This can be a selling point for consumers who prioritize portability. Owing to these benefits, the segment will expand rapidly in the future.
The Asia Pacific region dominated the Global Electric Kettle Market, by region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2.6 Billion by 2030. The Europe market is poised to grow at a CAGR of 3.6% during (2023 - 2030). Additionally, The North America market would display a CAGR of 4% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/electric-kettle-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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Companies Profiled
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