Electric Kettle Market Size Worth $21.0 Billion By 2025 | CAGR: 4.7%: Grand View Research, Inc.
SAN FRANCISCO, Aug. 6, 2019 /PRNewswire/ -- 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.
https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg
Key suggestions from the report:
-- 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.
Read 80 page research report with TOC on "Electric Kettle Market Size, Share & Trends Analysis Report By Raw Material (Stainless Steel, Plastic, Glass), By Application (Residential, Commercial), By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/electric-kettles-market
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.
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
-- Electric Kettle Regional Outlook (Revenue, USD Million, 2015 - 2025)
-- North America
-- U.S.
-- Canada
-- Europe
-- Germany
-- U.K.
-- Asia Pacific
-- China
-- India
-- Central & South America
-- Brazil
-- Middle East & Africa
Find more research reports on Consumer Goods Industry, by Grand View Research:
-- Cake Mixes Market - Rising product demand across the globe due to
preference for Ready-To-Eat (RTE) foods on account of hectic work life
is expected to be the key factor driving the market.
-- Edible Insects Market - Increasing health consciousness among the youth,
awareness about nutritional benefits, and willingness to explore new
options are expected to drive the edible insects market in the forecast
period.
-- Almond Oil Market - Increasing demand for organic, herbal, and natural
cosmetics and personal care products among consumers is the key factor
propelling demand.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Follow Us: LinkedIn | Twitter
View original content:http://www.prnewswire.com/news-releases/electric-kettle-market-size-worth-21-0-billion-by-2025--cagr-4-7-grand-view-research-inc-300896870.html
SOURCE Grand View Research, Inc.
