The global large cooking appliance market was valued at USD 12.0 billion in 2022 and is projected to expand at a CAGR of 4.5% from 2023 to 2030. The rising trend of nuclear family system and growing demand for ready-to-eat food items are some of the major factors driving the market. Furthermore, increasing demand for large cooking appliances for commercial purposes such as hotels, restaurants, catering services, and industrial kitchens is expected to offer lucrative opportunities for market growth.

Moreover, large cooking appliances are increasingly being used in households due to the availability of multiple features such as low energy consumption, advanced safety systems, and convenience. For instance, electric ovens are becoming more popular as they use lesser energy than traditional gas ovens. Key players are launching advanced ovens with innovative features such as self-cleaning ovens, steam ovens, and convection ovens. For instance, in November 2021, Samsung launched a new range of ovens with voice recognition technology and a built-in camera to monitor the cooking process.

Furthermore, rising awareness about healthy eating and the growing trend of home meal delivery services is increasing the demand for large cooking appliances. Consumers are now opting for home-cooked meals as they are more nutritious and cost-effective. Additionally, the rising trend of smart kitchens, which are equipped with advanced appliances, is further supporting the growth of the market.

In addition, the growing demand for energy-efficient and advanced cooking appliances is expected to drive the market growth. Manufacturers are focusing on introducing technologically advanced appliances to meet the rising demand from customers. For instance, in June 2021, Whirlpool Corporation launched connected appliances with voice-controlled technology, which can be integrated with other smart devices in the home.

The rising trend of online shopping is expected to further support the growth of the market. Online platforms offer convenience, easy comparison of prices, and discounts. Furthermore, the increasing number of start-ups offering rental services for large cooking appliances is expected to create lucrative opportunities for the market in the coming years.

The ovens segment accounted for a share of around 45% in 2022. Major factors driving the ovens segment include the increasing demand for home baking, rising disposable incomes, and increasing the number of nuclear families. According to an article published by the European Association of Craft, Small and Medium-sized Enterprises, in December 2019, the average household spends 3.2 hours per day on cooking and baking activities. Furthermore, the increasing demand for energy-efficient and multi-functional kitchen appliances is likely to further propel the ovens segment in the coming years.

The refrigerators segment is anticipated to expand at the fastest CAGR of 4.5% over the forecast period. The growing demand for food preservation, rising disposable incomes, and the increasing demand for energy-efficient large cooking appliance products are some of the key factors driving the refrigerators market growth revenue. Additionally, the increasing demand for smart refrigerators, which are equipped with features such as voice control, temperature control, and energy efficient modes, is also playing a crucial role in the growth of the segment.

The supermarkets & hypermarkets segment accounted for the largest market share of 35.2% in 2022. The increasing consumer preference towards supermarkets & hypermarkets as a primary source to purchase large cooking appliances is the major factor driving the segment growth. Furthermore, the availability of a wide variety of products and options at one place, as well as the presence of knowledgeable sales personnel to provide assistance in decision making, have further strengthened the segment’s position in the market.

The online segment is anticipated to expand at the highest CAGR of 12.7% during the forecast period. The increasing penetration of internet and the growing trend of e-commerce are driving the segment’s growth. The convenience of product comparison and the availability of a wide variety of products at competitive prices are encouraging consumers to purchase large cooking appliances online. In addition, the presence of discounts, offers, and promotional activities are further encouraging the consumers to buy large cooking appliances from online retailers.

The freestanding segment accounted for the largest revenue share of 70.1% in the year 2022. The freestanding segment includes a wide range of products such as refrigerators, ovens, and dishwashers. The availability of these products in different sizes and shapes, at affordable prices, and with features such as auto-defrost, water and ice dispensers, and quick-cooking options have increased the demand for freestanding products. Moreover, the availability of innovative designs and materials, such as stainless steel and glass, has further boosted the demand for large cooking appliances.

The built-in segment is anticipated to expand at the highest CAGR of 10.2% over the forecast period. The increasing trend of smart kitchens and the introduction of advanced features such as voice-activated technology, remote control, and temperature sensors, is driving the demand for built-in products in the large cooking appliance market. Furthermore, the increasing affordability of smart kitchens is also a key factor driving the growth of the built-in segment.

Asia Pacific is projected to be the fastest-growing region, owing to the rising demand for large cooking appliances, such as ovens, cooking ranges, and cooktops, in the residential segment. The rising awareness of healthy lifestyle and food habits among people in the region is a key factor driving the growth of the market. Additionally, the rising disposable income of people in the region and the introduction of energy-efficient appliances, such as induction cooktops, is expected to drive the growth of the market.

North America is expected to hold the second-largest market share, owing to the presence of various prominent players, such as Whirlpool, General Electric, and Samsung, in the region. The rising demand for large cooking appliances in commercial applications is expected to drive the growth of the market. For instance, in April 2022, Samsung launched a range of commercial large cooking appliances, including ovens, cooktops, and microwaves.

In this part of the large cooking appliance products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your large cooking appliance products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a large cooking appliance products business comes from sales of the products, and possibly from installation and maintenance services. Here you will find a list with a description of each of them and other possible sources of profit such as discounts, promotions, and bulk orders.

Projecting Expenses
In this section, all the regular expenses related to keeping the large cooking appliance products business running will be described. The list of operating expenses includes wages, inventory, utilities, advertising, materials, supplies, and others.

Some of the key companies operating in the large cooking appliance market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Whirlpool launched the Smart All-in-One appliance, a 5-in-1 system that includes a refrigerator, oven, stovetop, air fryer, and microwave in one device.

– In August 2022, Bosch released the Home Connect Wall Oven, a connected oven that can be controlled remotely from a smartphone or tablet.

– In October 2022, Samsung launched the Dual Cook Flex Oven, a dual-oven system that allows users to cook two dishes simultaneously.

Some of the prominent players in the large cooking appliance market include:

– Whirlpool Corporation
– Electrolux AB
– LG Electronics Inc.
– Samsung Electronics Co., Ltd.
– BSH Hausgeräte GmbH
– Midea Group
– Panasonic Corporation
– Haier Group Corporation
– Bosch Group
– Viking Range, LLC

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global large cooking appliance products market based on product, distribution channel, fuel, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Ovens
– Refrigerators
– Dishwashers
– Ranges
– Microwave Ovens
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Fuel Outlook (Revenue, USD Million, 2017 – 2030)

– Gas
– Electric
– Others

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the main applications of large cooking appliances?
[A]: Large cooking appliances are mainly used in residential applications. These appliances are used for cooking, baking, grilling and roasting foods, providing convenience and efficiency. These appliances are also used in commercial applications such as restaurants, hotels, hospitals, and other food service establishments.

[Q]: What are the factors driving the large cooking appliances market?
[A]: The large cooking appliance market is driven by factors such as increasing disposable incomes, rising demand for convenience and efficiency in cooking, and the growing health consciousness among consumers.

[Q]: Who are the key players in the global large cooking appliances market?
[A]: The key players in the global large cooking appliances market include Whirlpool Corporation, Electrolux AB, LG Corporation, Panasonic Corporation, Samsung Electronics Co., Ltd., and Haier Group Corporation.

[Q]: What is the regional outlook for the large cooking appliances market?
[A]: Asia Pacific is expected to be the fastest growing region in the global large cooking appliances market. This can be attributed to the growing population, increasing disposable incomes, and changing lifestyles in the region.

[Q]: What are the different types of large cooking appliances?
[A]: The different types of large cooking appliances include ovens, cooktops, microwaves, hoods, and other cooking appliances.