Dublin, Feb. 02, 2024 (GLOBE NEWSWIRE) -- The "Global Kettles Market (2023-2028) by Type, Raw Material, Applications, Distribution Channels, and Geography, Competitive Analysis, Impact of Covid-19, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The latest in-depth industry analysis on the Global Kettle Market projects an impressive compound annual growth rate (CAGR) of 4.30% from 2023 to 2028.
The comprehensive report unpacks the varied dimensions shaping the kettle market, from type and raw material to applications and distribution channels, coupled with an insightful geographical outlook. The kettle, a vital kitchen appliance, has seen a surge in innovation and usage across residential and commercial sectors. With technological advancements propelling the market, consumers have been quick to embrace smart electric kettles, exemplifying the intersection of convenience and modern living. Market Dynamics and Segment Insights
The analysis confirms a robust consumer shift towards electrical kettles, favoring features like temperature control and automatic shut-off, which have significantly contributed to this segment's dominance. Stainless steel kettles continue to carve a significant niche due to their durability and advances such as double-walled designs, ensuring both efficiency and safety. In the realm of applications, commercial use is on an upswing, with the hospitality industry's high demand for quick-service solutions fueling exponential growth. Distribution channel insights reveal a preference for offline retail, spanning supermarkets to specialty stores, although the rise of online channels cannot be overlooked. Geographic Expansion and Opportunities
The Asia-Pacific region leads the market, with emerging economies such as India and China emerging as hotbeds for electric appliances. Policy initiatives and a burgeoning middle-class population are poised to further augment market reach in these areas. The narrative of technological integration, with smart features like Wi-Fi connectivity, is setting new standards in kettle manufacturing and usage. The impact of COVID-19 has undoubtedly reshaped market dynamics, pushing innovation and adaptation to meet shifting consumer demands. In parallel, recent product launches from leading manufacturers underscore a dedicated pursuit toward enhancing user experiences and utility.
- TTK Prestige unveiled a cutting-edge Wifi Electric Kettle with Temperature Control in May 2023.
- Xiaomi expanded its MIJIA Thermostatic Kettle 2 Pro range, featuring an LED display, in November 2023.
Competitive Landscape and Analytical Tools
Beyond a mere market evaluation, the report employs strategic tools like the Ansoff Matrix to dissect company growth strategies, while the Competitive Quadrant models stand as a testament to corporate positioning and market performance. In an era where data drives decisions, a combination like SWOT analysis and regulatory scenarios offers a pragmatic lens for both existing market players and potential entrants.
The multitude of factors considered includes innovation scores, financial performance, and market share growth, culminating in a holistic view of the kettle market landscape. The report extends beyond numbers and charts to craft narratives that resonate with market quintessence, charting a path forward in this versatile and evolving industry. This insightful analysis serves as a beacon for stakeholders across the kettle supply chain, from manufacturers and policy makers to end-users, navigating through market trends, challenges, and untapped potentials.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 194 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $4.23 Billion |
| Forecasted Market Value (USD) by 2028 | $5.22 Billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
Companies Mentioned
- Aroma Housewares Co.
- Bajaj Electricals Ltd
- Breville, Inc.
- Cuisinart
- Electrolux
- Groupe SEB
- Guangdong Galanz Enterprises Co., Ltd. i
- Hamilton Beach Brands Holding Co.
- HARIO Co., Ltd
- Koninklijke Philips N.V.
- Orient Electric Ltd.
- Russell Hobbs
- Spectrum Brands, Inc
- Tefal S.A.S.
- Whirlpool Corp
For more information about this report visit https://www.researchandmarkets.com/r/wudizi
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