Electric Kettle Market Size, Share & Trends Analysis Report By Raw Material (Stainless Steel, Plastic, Glass, Others), By Application (Residential, Commercial), By Region, And Segment Forecasts, 2024 - 2030

Electric Kettle Market Size, Share & Trends Analysis Report By Raw Material (Stainless Steel, Plastic, Glass, Others), By Application (Residential, Commercial), By Region, And Segment Forecasts, 2024 - 2030

Electric Kettle Market Growth & Trends

The global electric kettle market size is expected to reach USD 2.58 billion by 2030, registering to grow at a CAGR of 5.6% from 2024 to 2030 according to a new report by Grand View Research, Inc. Advanced features including perfect grip handle, quick heat up time, and easy light indicator of electric kettles are expected to expand the market size over the forecast period. Furthermore, demand for hot beverages is rising in developed economies including Germany and U.K. as a result of shifting consumer preference towards replicating the coffee shop culture experience in household. This, in turn, is expected to upscale the requirements of electric kettles in the coming years.

The commercial segment is projected to grow at the fastest CAGR over the forecast period. The product is majorly used in the hotels and restaurants as it can quickly heat up the liquids and keep it warm for the next 5 to 6 hours. The tourism and hotel industries are witnessing significant growth in countries including China, Japan, Australia, and New Zealand due to favorable government policies on the establishment of new tourist destinations. This, in turn, is expected to expand the utility of electric kettles in the near future.

Stainless steel segment held the largest market revenue share of 45.7% in 2023. These types of products have the ability to keep the liquid warm for a long time. Furthermore, easy access to these products from retail stores as well as online channels is expected to remain a favorable factor for promoting the demand for stainless steel products in the near future. Plastic-based products are expected to witness high demand owing to rising product’s popularity for its lightweight and easy to carry characteristics.

Asia Pacific held the largest market revenue share of 44.4% in 2023. High concentration of working class population, coupled with increasing consumer spending on kitchen appliances in emerging economies including China and India, is expected to remain a favorable factor for the electric kettles market growth. Furthermore, new product launches by electronics goods manufacturers including JOVEN are expected to open new avenues over the next few years.

Key industry participants include Aroma Housewares Company; Conair; Hamilton Beach Brands, Inc.; Groupe SEB; Cuisinart; Breville USA, Inc.; bonavitaworld; Chef's Choice; SUPOR; and Koninklijke Philips N.V. Product innovation is expected to remain one of the key strategies opted by the manufacturers to expand their market reach in the near future. In August 2018, Denmark-based Stelton launched cordless electric kettle under the brand name, EM77.

Electric Kettle Market Report Highlights

• Stainless steel segment held the largest market revenue share of 45.7% in 2023. Stainless steel kettles are preferred for their reliability, ability to resist rust and corrosion, and easy stain removal properties. Consumers frequently opt for durable products, leading to increased demand for stainless steel kettles.
• The residential segment held the largest market revenue share in 2023. The growing trend of home-based lifestyles, accelerated by remote work and flexible schedules, has heightened the need for convenient and efficient kitchen appliances.
• Asia Pacific held the largest market revenue share of 44.4% in 2023. Rising disposable income and improving living standards across countries like China and India drive the adoption of convenient and time-saving kitchen appliances.

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