Electric Kettle Market

The global electric kettle market size was valued at USD 16.69 billion in 2020 and is projected to expand at CAGR of 4.5% during the forecast period. The growth of the market is attributed to the increasing production of advanced and innovative product variants of electric kettle.

Electric kettle is a water boiling appliance that has certain key features such as safety and comfort grip handling, easily visible light indicator, and quick time for heating-up. The product can be available in different sizes, which normally come with the capacity to boil water of 0.5 to 2 liters and different designs. In general, the electric kettle can heat up the liquid inside to 100 degrees Celsius temperature in a short period of time, which reduces the total boiling time as compared to other conventional methods. The appliance can automatically turn its power off when the boiling water reaches its maximum degree. These appliances are designed to work on different powers of electrical energy levels including 220 to 230 volts and 2 to 3 kilowatts.

The portability of electric kettle is a key aspect that boost the demand for electric kettle at a significant rate. Increasing number of working population across the globe acts as a vital factor that lead to the rising adoption of the devices especially to save cooking time and manage their busy schedule at the same time. A huge number of consumers prefer to buy the device due to its hassle-free water boil process.

Market Trends, Drivers, Restraints, and Opportunities

• Rising demand for the appliance from the working population and wide adoption of the appliance for the consumption of hot beverages with saving time are main factors driving the market growth.
• High adoption of smart kitchen and rising production of advanced kitchen appliances due to technological advancements are projected to push the market expansion in the coming years.
• Lucrative advertisements in various social media endorsed by several number of celebrities across the globe are expected to grow the market.
• Rising awareness about energy conservation and increasing demand for energy-saving technology for boiling or cooking items among a large number of population worldwide present another key factor boosting the market.
• Increase production of innovative and a variety of eco-friendly electric kettle for household applications is another key driver propelling the market expansion during the coming years.
• Lack of awareness and knowledge about the usage and benefits of electric kettles may hamper the market growth during the analysis period.
• Manufacturers are focusing on offering innovative options in electric kettles to meet the growing needs of customers across the globe present numerous opportunities for the market expansion.

Scope of the Report

The report on the global electric kettle market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been involved in this report.

Global Electric Kettle Market Segment Insights

Stainless-steel segment expected to witness a substantial growth

Based on raw materials, the market is divided into stainless steel, plastic, and glass. The stainless-steel segment constituted a revenue share of nearly USD 7.3 billion in 2020 and is expected to exhibit substantial growth in the coming years. The segment growth is attributed to wide demand for the product type due to its excellent properties such as durability and convenience to use. Introduction of double-walled designs to prevent from exterior hot issues of the kettle is a key aspect for the segment growth. However, the plastic segment is projected to register a substantial CAGR of 6.2% from 2021 to 2028 owing to certain advantages of plastic materials such as lightweight and easy to carry.

Residential application segment is anticipated to account a major share

On the basis of applications, the market is classified into residential and commercial. The residential application segment is anticipated to account a major share during the forecast years. The rising working-class population at a global level is anticipated to promote the usage of kitchen appliances, which saves the users’ cooking time. For instance, the device generally takes a boiling time of 2-4 minutes as compared to gas-operated stoves, which normally take around ten minutes. Additionally, the use of the device for household purpose is higher during winter than other seasons as consumers find it a handy alternative to make hot coffee or tea.

Commercial segment is estimated to expand at a CAGR of 6.1%

Meanwhile, the commercial segment is estimated to expand at a CAGR of 6.1% from 2021 to 2028. The device is broadly used in the hospitality industry as hotels and restaurants have to serve their customers quickly and provide their order at a warm temperature at the same time.

Asia Pacific is anticipated to account a major revenue share

In terms of regions, the global electric kettle market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is anticipated to account a major revenue share over the coming years. Growing consumer spending on kitchen appliances from a large number of population in emerging economies such as China, India, and Thailand are contributing to the market expansion. According to a report of the World Employment and Social Outlook, the number of working people has grown by 23 million between 2017 and 2019 in Asia Pacific. The market in China alone accounted for a revenue of USD 2 billion in 2019. Some of the prominent manufacturers are Mgintl group, Mickey, and Guangzhou Jitai Appliance Science & Technology Co., Ltd are the key players in the region. Meanwhile, the market in North America is predicted to expand at a CAGR of 5.1% from 2021 to 2028.

Segments

The global electric kettle market has been segmented based on

Raw Materials

• Stainless Steel
• Plastic
• Glass

Applications

• Residential
• Commercial

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Competitive Landscape

Some prominent players of global electric kettle market include Breville USA, Inc.; Groupe SEB; Cuisinart; Hamilton Beach Brands, Inc.; Aroma Housewares Company; Conair; bonavitaworld; Chef's Choice; SUPOR; and Koninklijke Philips N.V. These companies are focusing on several business strategies such as product launch and entering into partnership or collaboration to get a competitive advantage in the market.

For instance, Malaysia-based JOVEN introduced BPA free electric kettle in October 2018, under the brand name, JK1701P. In May 2020, the Xiaomi introduced Mi electric kettle under MIJIA home products. The product can detect and shut off its power if the water is absent inside the kettle. Lately, a North America-based manufacturer, Secura launched a 100% stainless steel electric kettle with 1.8 quart capacity and double-wall mounted coating, which is enabled to boil water quicker and retain warm for a long period.