The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The large cooking appliance market has experienced robust expansion in recent years, with significant projections for the future. According to market analysis, the size of this sector surged from $32.47 billion in 2023 to an estimated $34.99 billion in 2024, boasting a compound annual growth rate (CAGR) of 7.8%. Looking ahead, the market is poised to reach $46.69 billion by 2028, maintaining a steady CAGR of 7.5%.

Understanding the Growth Factors

• Shifting Consumer Lifestyles
• Design and Aesthetics
• Consumer Health Awareness
• Urbanization and Space Constraints
• Product Customization and Personalization

Urbanization Fuels The Surge In The Large Cooking Appliances Market
The burgeoning trend of urbanization serves as a key driver propelling the growth of the large cooking appliances market. Urbanization, characterized by the migration of populations from rural to urban areas, has significantly contributed to the expansion of this sector. As urban populations continue to soar, accompanied by rising income levels and smaller household sizes, the demand for large cooking appliances escalates. According to the World Bank, over 50% of the global population resided in urban areas in 2022, a figure expected to rise to 6 billion by 2045. Consequently, the growth in urbanization serves as a pivotal force driving the large cooking appliances market.

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Samsung’s Bespoke Ai Oven Sets The Bar For Innovation In Large Cooking Appliances
Innovation stands out as a prominent trend within the large cooking appliance market, with major companies striving to introduce cutting-edge products to bolster their market presence. A prime example of this innovation is Samsung’s Bespoke AI Oven, launched in 2022. This Korea-based electronics giant introduced the Bespoke AI Oven, equipped with intelligent features that revolutionize the cooking experience. Utilizing image-oriented food recognition technology and AI Pro Cooking, this oven optimizes cooking settings while preventing overcooking. Moreover, its diverse steam cooking options enhance the preparation of nutritious and delectable dishes, setting a new standard for innovation in large cooking appliances.

Spectrum Brands Inc. Enhances Global Appliance Leadership With Tristar Products Acquisition
In February 2022, Spectrum Brands Inc. solidified its position in the global appliances market through the acquisition of Tristar Products’ kitchen appliances and cookware division. This strategic move underscores Spectrum Brands’ commitment to bolstering its market standing and expanding its product portfolio. Tristar Products Inc., a prominent player in the large cooking appliance market, brings valuable assets and expertise to Spectrum Brands, facilitating its journey towards becoming a market-leading entity.

Segmentation of the Large Cooking Appliance Market

1. By Product: Cooktops, Ovens, Specialized Appliances
2. By Sales Channel: Brick And Mortar, E-Commerce
3. By Application: Household, Commercial

Asia-Pacific: A Dominant Force in the Large Cooking Appliance Market
In 2023, Asia-Pacific emerged as the largest region in the large cooking appliance market, highlighting the region’s significant influence and market share within the industry. With a burgeoning consumer base and evolving lifestyle preferences, Asia-Pacific continues to drive innovation and demand within the large cooking appliance sector, solidifying its position as a dominant force in the global market landscape.

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The Large Cooking Appliance Global Market Report 2024  provides comprehensive insights on the large cooking appliance market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the large cooking appliance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Household Appliances Global Market Report 2024
Household Cooking Appliance Global Market Report 2024
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