Asia-Pacific Kitchen Hood Market Outlook, 2027

Asia-Pacific Kitchen Hood Market Outlook, 2027

The Asia-Pacific is emerging as the fastest-growing market of range hood products. The market growth is primarily driven by the increasing food chains. With the increasing awareness of proper ventilation facilities in developing countries of the Asia Pacific region, range hood products are replacing exhaust fans as they are more effective in the ventilation process. Also, the changing lifestyles due to busy work schedules, particularly in countries like India and China, are driving the market. Whereas, increasing awareness of product benefits and high consumer spending capacity is playing a major role in the growth of the demand. Around the Asia-Pacific market, fast food businesses are growing more and more well-liked. To eat their favorite foods and spend time with their family or friends, people love to visit these establishments. This has led to a rise in global food chains, which has given the industry attractive new growth potential. To ensure cleanliness, almost all fast food chains choose to install modern range hoods. Many businesses use many layers of lining, a foundation for dampening sound, and motors for filtering systems to reduce noise, which is projected to further contribute to the market's growth. The range hood market is expanding as a result of changing lifestyle patterns brought on by rigorous work schedules, as well as an increase in the number of restaurant chains and food chains, especially in emerging nations like China and India.

According to the Bonafide Research, “Asia-Pacific kitchen hood market outlook, 2027” the market is expected to have CAGR value of 6.96% in the forecast period. In 2021, the market value was worth USD 2.08 Billion. Due to rising urbanization, the inclusion of women in the workforce, the rise of the middle class, and the introduction of new markets, markets in China, India, and other nearby nations are seeing rapid growth. Many manufacturers are putting more of an emphasis on automating people's daily tasks in order to relieve them of some of their burdens. The newest trends in household appliances, including kitchen appliances, are energy efficiency and connection in accordance with the IoT (Internet of Things), wherein the majority of appliances may be operated remotely or are outfitted with sensors to automatically manage the appliances. This segment is anticipated to grow mostly due to smart appliances. Kitchen equipment may be chosen to meet the size of the kitchen in new and renovated homes. Across a range of pricing points, the appliances come with frills or are also available without frills. Distribution is notably leaning toward channels with steep discounts, such as private label goods stores, mega markets that offer steep discounts via tax breaks and manufacturer partnerships, and e-commerce, which has been posing as a significant rival to other sellers due to the steep discounts and other offers.

Developing Economies like China and India are expected to lead the market in near future. With the benefit to allow more people to cook together, Customers across the Asia Pacific region are making investments in modular kitchens and are adopting advanced kitchen appliances to improve their home aesthetics. Also, In China, India, Japan, and South Korea, the rising disposable income of customers creates a huge demand for range hood products. Furthermore, the rising number of food service providers is also driving the growth. The Indian market for commercial range hoods is expected to capture a large industry share in the market during the forecast period. Manufacturers launching some of the advanced products with AI-enabled features, voice assistance, wireless connectivity, etc. are some of the latest trends prevailing in the market. Markets in India and China and other surrounding countries are registering high growth due to the increasing urbanization, the inclusion of women in the workplace, expanding middle class, and the inclusion of new marketplaces. Several manufacturers are focusing more on automating people's daily activities by taking a load off their shoulders.

COVID-19 IMPACT
Range hood manufacturing was little impacted by the COVID-19 epidemic. The market saw a decline in sales in the first half of 2020 as a result of consumer choice shifts toward buying necessities and financial uncertainties. The reopening of important markets throughout the world and the rise in the number of home remodeling projects, however, have resulted in an increase in demand for range hoods

Major Companies:
Asko Appliances, Broan-nuTone, BSH Home Appliance, Elica S.P.A, Faber S.P.A, Falmec S.P.A, Samsung Electronics Co. Ltd, Miele Inc, Panasonic Corporation, Whirlpool Corporation, Fotile Overseas Kitchen Appliances, Viking Range, LLC and LG Electronics.

Considered in this Report:
• Geography: Asia-pacific
• Historic year: 2016
• Base Year: 2021
• Estimated year: 2022
• Forecast period: 2027

Aspects covered in this report
• Asia-Pacific Kitchen Hood market with its value and forecast along with its segments
• Country-wise kitchen hood market analysis
• Various drivers and challenges
• Ongoing trends and developments
• Five force models
• Top profiled companies
• Strategic recommendation

Countries covered in the report
• China
• India
• Japan
• Australia

Segments covered in the report

By Product
• Under Cabinet
• Wall cabinet
• Ceiling mount
• Others

By Sales Channel
• Online
• Offline

By Application
• Residential
• Commercial

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering, the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started, verifying the details obtained from secondary sources.

Intended audience
This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to pet care products industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.