World Cooking Appliances
Freedonia Group Inc
World demand to rise 4.8% annually through 2017
Global demand for cooking appliances is forecast to increase at a 4.8 percent annual rate through
2017 to 249 million units, improving over gains that were recorded during the 2007-2012 period.
Growth will be boosted by an improvement in the key US market, with demand stemming in large
part by a recovery in the country’s large housing industry. In addition, rising standards of living in
many developing areas will contribute to overall sales. Advances in the number of foodservice
establishments worldwide, which itself is a byproduct of rising living standards, will provide further
impetus for growth.
China & India to experience robust growth
The US was the world’s largest consumer of cooking appliances in 2012, a result of high saturation
rates and a sizable housing stock. While most appliance purchases in the US are for replacement
purposes, the swift rebound in new housing units will generate substantial demand through the
forecast period. Developing areas will offer the best prospects for growth through 2017, since the
penetration rate for cooking appliances is generally smaller, which results in a larger pool of first
time purchasers. In addition, these countries typically have a booming housing industry, further
contributing to overall demand gains. Developing countries such as China and India will record
particularly robust growth through 2017. Low penetration rates in these nations, particularly in
rural areas, have historically limited demand opportunities. However, improving standards of living
will cause cooking appliance demand to increase at a rapid rate going forward.
Shift toward separate cooktops to boost unit demand
In general, demand for cooking appliances will be stimulated by the global shift towards separate
cooktop and oven units. While most developed countries have been transitioning towards separate
cooking appliances for quite some time, consumers in a number of developing nations are
beginning to opt for separate cooktops and ovens over ranges. Cooktops and ovens offer a more
seamless design into a kitchens cabinetry, providing a greater degree of aesthetic appeal. However,
the purchase of separate cooktops and ovens requires some level of affluence, for initial market
penetration of cooking appliances is comprised largely of ranges. These appliances are significantly
less expensive than cooktops and ovens, and provide the essential functions of preparing meals.
Commercial market to outpace residential
The residential market accounts for the vast majority of demand, since the number of households
far surpasses the number of foodservice establishments worldwide. However, demand for cooking
appliances in the much smaller commercial segment will grow at a faster rate than residential
demand. The lifestyle of many consumers is increasingly fastpaced, which results in less time
available for meal preparation at home. As a result, a larger percentage of meals are eaten away
from home, benefiting growth in food-service establishents. Additionally, as a larger share of the
world’s population migrates towards urban centers, the number of foodservice establishments will
also rise, as restaurants tend to be concentrated in areas with a high population density. Both of
these factors will play a vital role in the future growth of commercial cooking appliances.
About the Publisher
The Freedonia Group is a leading international industrial research company
publishing more than 100 studies annually. Since 1985 we have provided
research to customers ranging in size from global conglomerates to one-person
consulting firms. More than 90% of the industrial companies in the Fortune
500 use Freedonia Group research to help with their strategic planning. Each
study includes product and market analyses and forecasts, in-depth discussions
of important industry trends, market share information and profiles of the
leading industry players.
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