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The global kitchenware equipment market is projected to grow at a CAGR of 7.5% during the forecast period. Kitchenware equipment are cooking appliances that are designed for smooth easy cooking. In the kitchen, major appliances include stoves, refrigerators, and dishwashers. Blenders, food processors, and coffee makers are also included in the kitchenware equipment. The majority of equipment is used in the kitchen for cooking, storage, and cleaning. People’s lifestyles are changing as a result of a significant increase in disposable income, and they are gaining popularity among consumers. The price gap between similar kitchen equipment offered by different companies in the market is narrowing due to increased demand for such equipment. Furthermore, technological advancements are expected to accelerate the future growth of kitchen equipment.
Further, consumers’ growing preference for having a smart kitchen is expected to provide traction to the market growth. Furthermore, in countries such as India, the number of households has increased rapidly. The increasing number of residential buildings is also a result of people migrating to different countries.
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The study categorizes the kitchenware equipment market based on type, distribution channel, end-users, and region.
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Asia Pacific accounts for the highest CAGR during the forecast period
Based on the regions, the global kitchenware equipment market has been segmented across North America, Asia–Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR in the global kitchenware equipment market during the forecast period. The region includes the countries such as China, India, Japan, South Korea, Australia, Southeast Asia, and Rest of Asia–Pacific. The growth of the region is primarily due to strong economic growth in the domestic emerging countries such as China, Indonesia, Malaysia, and India.
A large amount of investment has been made in this sector. Furthermore, the growth of the tourism industry in countries such as Thailand and Malaysia has fueled the development of several hotels and resorts, which has indirectly boosted the demand for kitchenware products. To keep up with the growing competition, the hospitality industry’s top players are attempting to improve their services. As a result, the sector is expected to generate significant demand over the forecast period.
Major players in the global kitchenware equipment market are:
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