Electric Kettle Market 2019 Deep Analysis of Current Trends and Future Demand by Top Key Players By 2025




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.
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https://www.grandviewresearch.com/industry-analysis/electric-kettles-market/request/rs4
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.
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.
Rising importance of conservation of sources including oil and gasoline is expected to expand the scope of eco-friendly electric kettle as a sustainable source in household applications over the next few years. Over the past few years, growing working population has led to the need to save cooking time, which is prompting the product’s consumption. A large number of consumers prefer to purchase this product for hassle free water boil process.
Inside the electric kettle, liquid can reach up to 100 degree Celsius temperature in a smaller time span, which decreases the total boiling time. The product has the ability to boil the water for a certain period of time and due to security measure, it will automatically turn off the power. Electric kettles are made to work on different intensities of electrical energy including 220 to 230 volts and 2 to 3 kilowatts.
These products are also available in different sizes, along with the ability to boil water of 0.5 to 2 liters, which has created a wide range of product variations for the customers. Growing application of hot beverages in developing economies including China and India, coupled with technological developments in the kitchen appliances industry, will have a strong impact on the industry growth.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-electric-kettles-market
Grand View Research has segmented the global electric kettle market on the basis of application, raw material:
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
The stainless steel segment generated a revenue of USD 7.0 billion in 2018 and is expected to witness significant growth in the coming years on account of its durability. Some of these steel kettles are made with scale filter to prevent the lime scale buildup inside the product. Companies are providing double-walled designs so that consumers don’t face hot exterior problems. For instance, North American manufacturer, Secura offers 100% stainless steel electric kettle with 1.8 Quart Capacity and double-wall mounted coating, which boils water quicker and keeps it warm for a longer time.
Plastic is expected to be the fastest growing segment, expanding at a CAGR of 5.9% from 2019 to 2025. Lightweight and easy to carry characteristics of plastic materials are expected to promote the utility of the product in manufacturing kettle products. Furthermore, rising concerns over hazardous effects associated with bisphenol-A (BPA) as a result of stringent regulations by the regulatory bodies at a global level are expected to lure the industry participants to launch advanced products. For instance, in October 2018, Malaysia-based JOVEN launched BPA free electric kettle under the brand name, JK1701P.
About Grand View Research
Grand View Research, Inc. is a 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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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