Global Electric Kettles Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The Widespread Use of Electric Kettles in Hospitality Industries, Including Hotels and Restaurants

The Global Electric Kettles Market is estimated to be USD 5.28 Bn in 2023 and is expected to reach USD 6.7 Bn by 2028 growing at a CAGR of 4.91%.

Electric kettles are kitchen appliances designed to quickly and efficiently heat water using electricity. They feature an electric heating element that rapidly brings water to a boil, providing a convenient and time-saving solution for preparing hot beverages, such as tea or coffee, and for various cooking purposes. Electric kettles often have additional features like temperature control, automatic shut-off, and indicator lights, enhancing user convenience and safety.

The Global Electric Kettles Market is shifting customer preference toward hot beverages. The rising demand for hot beverages such as tea, coffee, and hot chocolate is driving the adoption of electric kettles. The Electric kettles offer convenience and speed in boiling water, making them an ideal choice for preparing hot beverages quickly.

The restraint in the Global Electric Kettles Market is the high cost associated with electric kettles. Electric kettles often come at a higher price than traditional stovetop kettles. This higher cost for price-sensitive consumers affects electric kettles' overall adoption and market growth.

The introduction of smart electric kettles is also becoming a trend among consumers as they are user-friendly, innovative, and convenient. The advancement in technological features such as Wi-Fi and Bluetooth are some of the primary factors boosting the usage of smart electric kettles as these technologies make it easier for users to control these kettles through electronic devices such as laptops and smartphones. Thus, the Global Electric Kettles Market poses growth opportunities.

• Electric kettles may face challenges in specific regions or areas with inadequate electrical infrastructure or unstable power supply. Without reliable access to electricity, the functionality and convenience of electric kettles are compromised. Manufacturers and policymakers must address such infrastructure limitations to ensure broader market penetration.

Market Segmentations

• The Global Electric Kettles Market is segmented based on Raw Materials, Applications, Distribution Channels, and Geography.
• By Raw Material, the Global Electric Kettles Market is classified into Stainless Steel, Plastic, Glass, and Others. Due to its durability, the stainless steel segment has significant growth in the Global Electric Kettles Market. Some of these steel kettles feature built-in scale filters to stop the accumulation of limescale inside the product. To prevent concerns with a hot exterior for customers, businesses are offering double-walled designs. For instance, North American manufacturer Secura offers a 1.8-quart capacity 100% stainless steel electric kettle with double-wall mounted coating that boils water more quickly and maintains a higher temperature for longer.
• By Applications, the Global Electric Kettles Market is classified into Residential and Commercial. The commercial application segment is expected to expand rapidly due to its widespread usage of electric kettles in hospitality industries, including hotels and restaurants. For example, an electric kettle can boil water in a short period, which helps hotels and restaurants to serve their customers quickly. Additionally, the population's growing travel and leisure activities are further likely to boost its demand across various resorts and tourism spots globally.
• By Distribution Channels, the Global Electric Kettles Market is classified into Offline and Online. Depending on Distribution Channels, the offline segment has the largest Global Electric Kettle Market market share. This is attributed to the consumers preferring products from offline sales channels such as hypermarkets/supermarkets, specialty stores, and convenience stores. Offline stores are common globally and are found in urban and rural settings.
• By Geography, the Global Electric Kettles Market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific. The Asia Pacific has the largest Global Electric Kettle Market market share. In developing nations such as India and China, there is a rising demand for electric appliances due to the high number of working-class populations, increasing consumer spending on kitchen appliances and better infrastructural facilities. This is expected to be a positive factor in boosting the growth of electric kettles. Countries like China and Japan also offer a wide range of smart home appliances. Moreover, an increase in government initiatives for the usage of energy-efficient devices and increasing usage of electric home appliances are also anticipated to boost the growth of electric kettles in the region.

Recent Development

• TTK Prestige launched the Wi-Fi electric Kettle with Temperature Control to maximize consumer convenience. - May 2023
• Xiaomi MIJIA Thermostatic Kettle 2 Pro with 1.7L capacity and an LED display launched. - November 2023

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. The companies covered in this report are Koninklijke Philips N.V., Orient Electric Ltd., Russell Hobbs, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Electric Kettles Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Electric Kettles Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Electric Kettles Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market