15-Jan-2020: The global electric kettle
market size is expected to reach USD 21.0 billion by
2025, according to a new report by Grand View Research, Inc., expanding at a
CAGR of 4.7% over the forecast period. Advanced features including perfect grip
handle, quick heat up time, and easy light indicator of electric kettles are
expected to expand the market size over the forecast period. Furthermore,
demand for hot beverages is rising in developed economies including Germany and
U.K. as a result of shifting consumer preference towards replicating the coffee
shop culture experience in household. This, in turn, is expected to upscale the
requirements of electric kettles in the coming years.
The commercial
segment is estimated to be the fastest growing market with a CAGR of 5.5% from
2019 to 2025. The product is majorly used in the hotels and restaurants as it
can quickly heat up the liquids and keep it warm for the next 5 to 6 hours. The
tourism and hotel industries are witnessing significant growth in countries
including China, Japan, Australia, and New Zealand due to favorable government
policies on the establishment of new tourist destinations. This, in turn, is
expected to expand the utility of electric kettles in the near future.
Stainless
steel-based kettles generated a revenue of USD 7.0 billion in 2018. These types
of products have the ability to keep the liquid warm for a long time.
Furthermore, easy access to these products from retail stores as well as online
channels is expected to remain a favorable factor for promoting the demand for
stainless steel products in the near future. Plastic-based products are
expected to witness high demand owing to rising product’s popularity for its lightweight
and easy to carry characteristics.
Asia Pacific
generated a revenue of USD 7.6 billion in 2018. High concentration of working
class population, coupled with increasing consumer spending on kitchen
appliances in emerging economies including China and India, is expected to
remain a favorable factor for the electric kettles market growth. Furthermore,
new product launches by electronics goods manufacturers including JOVEN are
expected to open new avenues over the next few years.
Key industry participants
include Aroma Housewares Company; Conair; Hamilton Beach Brands, Inc.; Groupe
SEB; Cuisinart; Breville USA, Inc.; bonavitaworld; Chef's Choice; SUPOR; and
Koninklijke Philips N.V. Product innovation is expected to remain one of the
key strategies opted by the manufacturers to expand their market reach in the
near future. In August 2018, Denmark-based Stelton launched cordless electric
kettle under the brand name, EM77.
In
depth research report on Electric Kettle Market
Further key findings from the report suggest:
·
The residential application segment generated a revenue of
USD 13.2 billion in 2018
·
By product, plastic is expected to be the fastest growing
segment with a CAGR of 5.9% from 2019 to 2025
·
Asia Pacific is estimated to emerge as the fastest growing
electric kettle market from 2019 to 2025.
Grand View Research
has segmented the global electric kettle market on the basis of application,
raw material, and region:
Electric Kettle Raw Material Outlook (Revenue, USD Million,
2015 - 2025)
·
Stainless Steel
·
Plastic
·
Glass
·
Others
Electric Kettle Application Outlook (Revenue, USD Million,
2015 - 2025)
·
Residential
·
Commercial
Browse
more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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