Electric Kettle Market Size and Growth Rate:
According to the Research Report, the Global Electric Kettle Market Size was Expected to Reach at USD 515 Million USD by 2023 with a CAGR of 2.5% during the forecast period 2019-2023.
Electric Kettle Market Overview:
Electrical kettles are used to heat tea or water instantly. These electrical kettles are made using a material such as copper with high resistance and tungsten. Outer body of electrical kettles contains stainless steel and a handle made with plastic or other heat resistant material. Increasing adoration for tea and other such refreshing drinks are giving scope for new industries to gain profits in global market. These Kettles are manufactured to work on several intensities of electrical energy such as 220-230 Volts and 2-3 KiloWatts based on the availability in the region. Electric Kettle Market is estimated to be growing at a whopping pace of 4.5% CAGR in forecasted years.
Electric Kettle Market Drivers and Restraints:
Electric Kettle Market is estimated to grow in the forecasted period owing to supporting factors such as increasing demand for hot beverages, and technological developments in kitchen appliances are estimated to support the market growth. Increasing concern about saving conventional sources such as gas and oil, increasing working population, endorsements and advertisements by celebrities for promotions, increasing online market places, an increasing number of supermarkets and hypermarkets are estimated to drive the market in forecasted years. Comfortable sizes which enable carrying kettles easier, increasing number of electrical energy consumer’s demand for electric kettles in developing countries are other supporting factors of the global market. However, the rise in prices and safety concerns are hindering the market.
The world market for electric kettles has been segmented according to the material used, the type, the distribution channel, and the region. Depending on the material used, the market is segmented into plastic or stainless steel. Of the two segments, it is expected that the plastic electric kettle will grow significantly in the near future. Based on the type, the market is segmented into transparent and opaque. Of the two, the opaque segment has most of the market share. According to the distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores, online stores and others.
Electric Kettle Market is primarily segmented into Europe, North America, Latin America, Middle East & Africa, and Asia Pacific regions. North America region is estimated to be the largest contributor to the market with support from the United States. Europe and Asia Pacific regions are estimated to be growing at a quicker pace with decent CAGR in forecasted periods in these regions.
Some of the Prominent Companies leading the Global Electric Kettle Market Profiled in the Report are:
- Aroma Housewares
- Groupe SEB
- Hamilton Beach Brands
- Spectrum Brands
- Hamilton Beach
- Proctor Silex
The Research Report segments the Electric Kettle Market into the following submarkets:
Electric Kettle Market – By Product:
- Direct Plug-in
- Rotation Type
Electric Kettle Market – By Application:
Electric Kettle Market – By Region:
- North America
- United Kingdom
- South Korea
- Latin America
- Middle-East & Africa