The Asia Pacific Cookers & Ovens Market would witness market growth of 6.1% CAGR during the forecast period (2022-2028).
People prefer to acquire these household goods online with an ensured guarantee from online providers, hence e-commerce is gaining traction in the current industry. It is because of the widespread accessibility of home gadgets and the internet that can be operated by voice and command, large kitchen appliances are becoming increasingly popular. Given the existing pandemic situation, which is also driving growth as individuals stock up on basics, these cookers & ovens are likely to expand the most among major kitchen appliance product types during the current days. Customers are more drawn to home delivery, lower costs, and better deals, hence online shopping is predicted to increase substantially. Consumer buying patterns are varying and growing, comprising of an increase in the number of customers buying housewares online, which creates both opportunities and concerns for the major appliance category's future prospects, as well as for individual shops and industry participants.
China is a leading consumer electronics manufacturer and gradually entering into manufacturing of electric cookers and ovens for the population. Countries such as Japan and China have tremendous technological advancements integrated into everyday products or appliances. Additionally, the manufacturing sectors of countries such as South Korea and Japan are large, and the high existence of many important market participants throughout this area would drive regional market growth during the forecast period. A huge spike has been recorded in the demand for convenience foods in this region, which necessitates the use of baking equipment such as an oven.
Additionally, the rising demand for bakery items will encourage many restaurant owners to invest in ovens. The need for high-tech unified home appliances is growing in emerging countries like India in order to make tasks easier and faster. Countries in the Asia Pacific have rich and age-old cultures associated with the food and its cooking method, and with a wide range of tastes and recipes the demand and usage of the cookers and ovens in the countries would increase and this trend is never going to decline as cooking and food culture are among the richest culture the world cherish.
The China market dominated the Asia Pacific Cookers & Ovens Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $22,728.9 million by 2028. The Japan market is poised to grow at a CAGR of 5.5% during (2022 - 2028). Additionally, The India market would display a CAGR of 6.8% during (2022 - 2028).
Based on Distribution Channel, the market is segmented into Offline and Online. Based on Type, the market is segmented into Cooktops & Cooking Ranges, Ovens, and Cookers. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Cookers & Ovens Market is Projected to reach USD 220.1 Billion by 2028, at a CAGR of 5.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Haier Smart Home Co., Ltd. (Haier Group Corporation), Samsung Electronics Co., Ltd. (Samsung Group), LG Electronics, Inc. (LG Corporation), Robert Bosch GmbH, Groupe SEB, Wilh. Werhahn KG (ZWILLING J.A. Henckels AG), Koninklijke Philips N.V., Fissler GmbH, and Electrolux AB.
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