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.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/electric-kettles-market
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.
Electric Kettle Market Segmentation
Grand View Research has segmented the global electric kettle market on the basis of application, raw material, and region:
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
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