Kitchen Appliance Market revenue will reach $297.1 billion by 2024 Kitchen Appliance Market revenue will reach $297.1 | Page 5

Changing lifestyle of homemakers and working class people
has led the household kitchen appliances to dominate the
overall kitchen appliance market in 2016
The household kitchen appliances segment held approx. 60% revenue
share of the overall market in 2016 and is expected to maintain the
same trend throughout the forecast period. This is because, kitchen
appliances play a vital role in smooth and efficient cooking for the
household end-users. These appliances have become an inevitable
necessity in every household, as they assist convenient and easy
cooking. Further, the growing working population paired with nuclear
family tendency will continue to drive the demand for kitchen
appliances among these users. However, the commercial kitchen
appliances market is expected to witness the fastest growth, having a
CAGR of 8.7% during the forecast period.