Cookers and Ovens Market – Growth of Market Size, Market Dynamics and Forecast Period (2024-2030)

Cookers and Ovens Market Overview

This might be attributed to the rising demand for portable cooktops and smooth, effective cooking solutions among consumers in China and India. Over the projection period, it is also anticipated that the growing customer preference for ovens across Europe would drive market expansion. A market opportunity exists due to the rising demand for freestanding cookers that offer exact temperature control as well as pre-set ovens with automated power settings. The market's major players are currently concentrating on releasing smart inverter microwave ovens as well as stainless steel cavity-based ovens. Apart from these, other players are attempting to provide built-in cookers, particularly to meet demand in Europe, while some are adding tandoor technology into the ovens.

Players have also increased their investments in order to produce high-tech ovens and cookers at cheaper costs. For instance, the Chinese-based Haier Group invested in buying more affordable, high-tech ovens. Companies gain a competitive edge as a result. Major industry participants are implementing internet marketing strategies to increase sales of kitchen appliances. The business picture for cooktops and ovens has improved thanks to these e-commerce portals, supporting market expansion.

 

 

To get more Insights: Request Free Sample Report

 

Cookers and Ovens Market Dynamics

Demand for energy-efficient appliances is rising as consumers become more conscious of the value of energy efficiency and look for ways to cut back on their energy usage. Energy-efficient cookware and ovens are becoming more and more common since they can reduce consumers' energy costs. Smart appliances are getting more and more popular since they provide a number of functions that make cooking simpler and more practical. Smart ovens, for instance, can be set up to cook food automatically and can be managed remotely using a smartphone or tablet. Consumers' rising disposable income is driving up demand for premium, cutting-edge cookware.

 

The characteristics that consumers are ready to pay more for include many cooking capabilities, simple cleaning, and fashionable designs. More people are moving into flats and condos as a result of growing urbanization, which is changing lifestyles. This is increasing demand for small, simple-to-install ovens and stoves. The usage of energy-efficient appliances is being encouraged. The demand for cookware and ovens that adhere to energy efficiency regulations is being fuelled in part by this.

 

Cookers and Ovens Market Opportunities

Induction cooktops are becoming more and more popular since they use less energy than conventional gas or electric cooktops. Additionally, they are simpler to maintain and clean. As a result, both developed and emerging nations are seeing an increase in demand for induction cooktops. Young people and single people, in particular, are increasingly using portable cooktops. They are perfect for flats and other tiny living spaces because they are compact, lightweight, and simple to store. The expanding need for multipurpose ovens because they are no longer solely utilized for baking. As of late, roasting, grilling, and even steaming are also done with them. As a result, demand for ovens with numerous functionalities is rising.

 

Smart kitchen appliances are getting more and more popular since they offer a number of functions that make cooking simpler and more practical. Smart ovens, for instance, can be set up to cook food automatically and can be managed remotely using a smartphone or tablet. The demand for cookers and ovens in emerging nations is being driven by urbanization and disposable money. People in these areas are seeking more practical and effective cooking methods as they relocate to urban areas.

 

Cookers and Ovens Market Challenges

As consumers expect more automated and linked gadgets, smart appliances are growing in popularity. Manufacturers of conventional cookers and ovens are facing a challenge as a result, and they must make investments in innovative technologies to stay competitive. Induction cooking is becoming more and more popular since it uses less energy and is more effective than conventional gas or electric cooking. Due to the growing demand for induction cookers as a result, traditional cookers and oven sales are under pressure. Growing consumer demand for cookers and ovens that can help consumers prepare healthier meals is a result of the growing popularity of healthy cooking.

 

Ovens with characteristics like steam cooking and air frying are becoming more and more popular as a result of this. Modular kitchens are getting more and more popular as a result of their ability to give customers greater flexibility and options. This presents a challenge to traditional stove and oven producers, who must modify their goods to satisfy customers using modular kitchens.

 

Cookers and Ovens Market Restraints

Due to their high upfront costs, some consumers may choose not to purchase cookware and ovens. A variety of other cooking equipment, including microwaves and air fryers, are offered on the market. Some consumers may decide to pick these appliances over stoves and ovens since they can be more economical and practical. Consumer preferences are always changing, particularly with regard to cooking. For instance, healthy cooking techniques like grilling and baking are becoming more popular. This might prompt some customers to switch to equipment like air fryers that is better suited for these techniques.

 

Price increases for energy could result in higher operating costs for cooktops and ovens. This might make some customers choose more energy-efficient appliances instead of utilising them. The energy efficiency of appliances is being progressively regulated by governments all over the world. This can make it more challenging for producers to create cookware and ovens that adhere to the necessary requirements, which might result in increased costs for customers.

 

Cookers and Ovens Market Trends

Induction cooktops are growing more and more in demand since they are safer and more energy-efficient than conventional gas or electric cooktops. Multi-functional oven demand is rising as a result of these appliances' ability to do a number of different cooking tasks, including baking, roasting, and grilling. Smart appliances are getting more and more popular since they provide a number of functions that make cooking simpler and more practical. Manufacturers are concentrating on creating energy-efficient cooktops and ovens in order to meet the rising demand for environmentally friendly equipment. In order to better serve customers' individual demands, manufacturers are providing additional customization options for cooktops and ovens.

 

Cookers and Ovens Market Regional Analysis

North America: North America is the world's largest market for cookers and ovens. This is brought on by the region's customers' high levels of disposable money, the rising acceptance of western culinary practises, and the rising desire for energy-efficient appliances. The largest markets in the area are those of the United States, Canada, and Mexico.

 

Europe: Europe is the second-largest market for cookers and ovens. This is brought on by the expanding population, rising interest in smart appliances, and rising demand for convenient cooking options. The biggest markets in the area are in Germany, the UK, and France.

 

Asia-Pacific: With a CAGR of more than 6% from 2024 to 2030, Asia Pacific is the region with the fastest growing market for cookware and ovens. This is brought on by the rising disposable income of local consumers, the expansion of urban areas, and the expanding popularity of western cooking techniques. The region's three largest markets are China, India, and Japan.

 

South America: Over the forecast period, Latin America is anticipated to increase at a moderate rate. This is brought on by the expanding population, rising use of energy-efficient equipment, and rising demand for convenient cooking options. The biggest market in the area is Brazil.

 

Middle East & Africa: Over the forecast period, Middle East & Africa is anticipated to develop at the slowest rate. This is brought on by the region's consumers' low disposable income, the scarcity of energy, and the preference for conventional cooking techniques. The biggest market in the area is South Africa.

 

Cookers and Ovens Market Segment Analysis

By Distribution Channel: The market is divided into offline and online channels based on the means of distribution. With a lion's share of the market, the offline channel is the main sector. However, because internet shopping is becoming more and more common, it is anticipated that the online channel will expand more quickly.

 

By Type: The market is divided into three types: cooktops and cooking ranges, ovens, and cookers. The highest market share belongs to the category of cooktops and cooking ranges. This is as a result of their practicality and adaptability. Due to the increased demand from customers in the UK and Germany for ovens that use charcoal lighting heaters, ovens are predicted to have the quickest rate of growth.

 

Cookers and Ovens Market Competitive Landscape

Electrolux AB, Haier Group, Samsung, LG Electronics, Robert Bosch GmbH, and Koninklijke Philips N.V. are a few of the top significant players. These players have been launching new products, forming alliances, merging with other companies, and expanding internationally. Companies have been concentrating on introducing pressure cookers with locking indicator-based no-pressure steam settings. Additionally popular lately are portable cooktops with a high-end glass finish and ovens with a stacking feature.

 

LG Electronics: The Double Oven Gas Slide-in Range and the Over-the-Range Microwave Oven were introduced and debuted by LG Electronics.

 

GROUPE SEB: To increase its footprint in Africa, GROUPE SEB inked an agreement in December 2022 to create a joint venture called Groupe SEB Maroc with the family business Preciber in Morocco.

Cookers and Ovens Market Scope
Market Size in 2023	USD 109.64 Bn.
Market Size in 2030	USD 151.21 Bn.
CAGR (2024-2030)	4.7%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Type Cooktops & Cooking range Ovens Cookers
	By Distribution Channel Online Channel Offline Channel
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Cookers and Ovens Market Key Players

1. Haier Smart Home
2. Whirlpool
3. LG Electronics
4. Midea
5. Panasonic
6. Bosch Siemens Home Appliances (BSH)
7. Electrolux
8. Samsung Electronics
9. Miele
10. Smeg
11. Gorenje
12. Groupe SEB
13. Haier Group
14. Fissler
15. Zwilling
16. Koninklijike Philips N.V
17. WMF Group