Electric Kettle Market Overview, 2031
According to a new report published by Allied Market Research, titled, โElectric Kettle Market Size, Share, Competitive Landscape and Trend Analysis Report, by Raw material, by Application, by Distribution channel : Global Opportunity Analysis and Industry Forecast, 2021-2031″. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market. The global electric kettle market was valued at $4.06 billion in 2021, and is projected to reach $6.08 billion by 2031, growing at a CAGR of 4.2% from 2021 to 2031.
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Rising purchase power, changes lifestyle and rapid urbanization are Electric Kettle Market Trends. Furthermore, the growing awareness about health benefits of using electric kettles and its multipurpose uses is supporting the market growth. Additionally, rising number of hotels, restaurants, hospitals, corporate office is positively influencing the market growth.
Moreover, increase in inclination of consumers toward smart appliances that have multipurpose uses notably contributes toward the growth of the global market. Additionally, companies provide electric kettles in a variety of sizes and with the capacity to boil between 0.5 and 2 litres of water, which has led to a wide range of product options for consumers, which creates enormous Electric Kettle Market Opportunity.
๐๐๐๐จ๐ซ๐๐ข๐ง๐ ๐ญ๐จ ๐๐ก๐ ๐๐ฅ๐๐๐ญ๐ซ๐ข๐ ๐๐๐ญ๐ญ๐ฅ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ, ๐ญ๐ก๐ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ข๐ฌ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ๐๐ ๐จ๐ง ๐ญ๐ก๐ ๐๐๐ฌ๐ข๐ฌ ๐จ๐ ๐ซ๐๐ฐ ๐ฆ๐๐ญ๐๐ซ๐ข๐๐ฅ, ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง, ๐๐ข๐ฌ๐ญ๐ซ๐ข๐๐ฎ๐ญ๐ข๐จ๐ง ๐๐ก๐๐ง๐ง๐๐ฅ, ๐๐ง๐ ๐ซ๐๐ ๐ข๐จ๐ง. By raw material, the market is categorized into stainless steel, plastic, and glass. The stainless steel segment was the highest contributor to the market, with $1,683.4 million in 2021, and is estimated to reach $2,433.1 million by 2031, at a CAGR of 3.8% during the forecast period. This is attributed to the fact that stainless steel kettle is widely used in cafรฉs and restaurants. Moreover, stainless steel kettles are reasonably priced and include extra features such as auto shutoff and base cord storage temperature control, and other lighting features include illuminated blue switches etc., which boost the growth of this segment.
Based on application, the commercial segment held a significant share of 63.81% in the global market in 2021. This is attributed to increase in number of cafรฉs, restaurants, and hotels in commercial complexes. Moreover, rapid development of the corporate sector is expected to fuel the demand for electric kettles. Electric kettles quickly boil water, which help restaurants and hotels to serve their customer quickly.
Depending on distribution channel, the offline segment dominated the market in 2021, accounting for 62.9% of the Electric Kettle Market Share, and is expected to retain its dominance throughout the Electric Kettle Market Forecast period. This is attributed to the fact that consumers are preferring products from various offline sales channels such as hypermarket/supermarket, specialty stores, and convenience stores.
Region wise, Europe was the prominent market in 2021, garnering maximum share, owing to high consumption of coffee and tea in majority of the European countries, including Germany, Italy, France, and Spain.
Key players are Aroma houseware company, Bajaj electrical limited, Breville group, Chefโs choice, Cuisinart, Hario company limited, Hamilton beach, Helen of troy limited , Morphy Richards, and Spectrum brands holding.
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Analyst Review
According to the insights of the top-level CXOs, innovation in electric kettle is the key factor for the growth of the global electric kettle market. Rise in demand for various electric kettle products from target customers encourages manufacturers to develop new coffee makersis expected to drive the electric kettle market’s growth.
The CXOs further added that electric kettles have high traction in the market, owing to rise in number of working women coupled with surge in demand for smart kitchen appliances that save time, energy, and allow them to cook food quickly and increase workload and busy & hectic lifestyle of consumers. Moreover, rise in popularity of coffee and tea encourages consumers to use electric kettle.
Furthermore, increased investment in commercial space such as airports, hospitals, hotels, and restaurants as well as customers’ regular visits to restaurants and hotels drive the demand for innovative electronic kitchen appliances. As per the CXOs, major obstacles attributed to the pandemic was disruption of supply chain. Furthermore, all distribution channels were nearly shut down in the first quarter of the pandemic. However, online channels such as Amazon, Flipkart, and Alibaba were operating during the pandemic.
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐จ๐ ๐ญ๐ก๐ ๐๐ญ๐ฎ๐๐ฒ:
โข On the basis of raw material, the glass segment is expected to exhibit the fastest growth during the forecast period.
โข Depending on type, the commercial segment dominated the Electric Kettle Industry in 2021.
โข By distribution channel, the online sales channel segment is expected to register the highest CAGR of 4.8%.
โข Region wise, Europe is expected to be the fastest growing segment during the forecast period with a CAGR of 4.5%.
๐๐๐๐ฌ๐จ๐ง๐ฌ ๐ญ๐จ ๐๐ฎ๐ฒ ๐๐ฅ๐๐๐ญ๐ซ๐ข๐ ๐๐๐ญ๐ญ๐ฅ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ:
โข Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
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โข Classify potential new clients or partners in the target demographic.
โข Develop tactical initiatives by understanding the focus areas of leading companies.
โข Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
โข Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
โข Report will be updated with the latest data and delivered to you within 2-4 working days of order.
โข Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
โข Create regional and country strategies on the basis of local data and analysis.
๐ ๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐:
โข How much is the electric kettle market worth?
โข What is the trend in the electric kettle market?
โข What is the target market for electric kettle?
โข What is the market analysis of electric kettle?
โข What is the most expensive electric kettle company?
โข What is the largest electric kettle company in the world?
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