The Large Cooking Appliance Global Market Report 2023 by The Business Research Company, provides large cooking appliance market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Large Cooking Appliance Global Market Report 2023, the market size is expected to grow from $30.36 billion in 2022 to $32.72 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global large cooking appliance is expected to grow to $43.09 billion in 2027 at a CAGR of 7.1%.
The growth in urbanization is expected to propel the growth of the large cooking appliances market going forward. Urbanization refers to the mass movement of populations from rural areas to urban areas. The total number of large cooking appliances rises as a result of urbanization, income growth, and smaller households, hence growing urbanization is boosting the large cooking appliances market.
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The large cooking appliance market is segmented:
1) By Product: Cooktops, Ovens, Specialized Appliances
2) By Sales Channel: Brick And Mortar, E-Commerce
3) By Application: Household, Commercial
Product innovations have emerged as the key trend gaining popularity in the Large Cooking appliance market. Major companies operating in the Large Cooking appliance market are developing innovative products to strengthen their position in the market. For instance, in 2022, Samsung, a Korea-based producer of electronic devices launched Bespoke AI (artificial intelligence) Oven. Bespoke AI Oven’s unique characteristics include intelligent elements that improve the enjoyment of wholesome food. Using image-oriented food recognition technology, AI Pro Cooking5, 6 optimizes oven cook settings while keeping an eye on food to avoid meals from becoming overcooked. To make nourishing and delicious steamed dishes, the Bespoke AI Oven has a variety of steam cooking options.
The large cooking appliance market report table of contents includes:
1. Executive Summary
2. Large Cooking Appliance Market Characteristics
3. Large Cooking Appliance Market Trends And Strategies
4. Large Cooking Appliance Market – Macro Economic Scenario
5. COVID-19 Impact On Large Cooking Appliance Market
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26. Africa Large Cooking Appliance Market
27. Large Cooking Appliance Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Large Cooking Appliance Market
29. Large Cooking Appliance Market Future Outlook and Potential Analysis
30. Appendix
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