Saudi Arabia Cooking Appliances Market Industry Dynamics, Opportunity Analysis and Forecast 2024-2031
Saudi Arabian Cooking Appliances Market
Dublin, Oct. 08, 2024 (GLOBE NEWSWIRE) -- The "Saudi Arabia Cooking Appliances Market, By Product, By Technology, By Structure, By Fuel Type, By End User, By Distribution Channel, By Region - Market Size, Industry Dynamics, Opportunity Analysis and Forecast for 2024-2031" report has been added to ResearchAndMarkets.com's offering.
The Saudi Arabia cooking appliances market is experiencing steady growth, driven by rising urbanization, increasing disposable incomes, and changing consumer preferences toward modern kitchens. The shift toward smart homes and energy-efficient appliances is also influencing demand, with consumers opting for advanced cooking technologies like induction cooktops, convection ovens, and multifunctional kitchen gadgets. Additionally, the growing popularity of home cooking, spurred by social media trends and health-conscious lifestyles, is further propelling the market. Saudi Arabia's focus on improving its retail infrastructure, along with expanding e-commerce platforms, provides consumers with easy access to a wide variety of cooking appliances. Key players in the market are offering innovative products catering to the country's evolving culinary preferences, such as appliances suited for traditional Middle Eastern dishes, while also focusing on sustainability and energy conservation.
Saudi Arabia's eCommerce landscape is rapidly evolving, positioning the country as the 28th largest market globally. The surge in online shopping is transforming traditional retail, making cooking appliances more accessible to a broader audience. With around 74% of online shoppers expected to favor local eCommerce platforms over global ones, the convenience of purchasing from home is driving spontaneous buying behaviors. Consumers now enjoy a wider selection of brands and models, facilitating the discovery of products tailored to their specific needs.
Moreover, rapid urbanization - where approximately 82.1% of the population resides in cities - has significantly impacted cooking dynamics. In densely populated urban areas, such as the Eastern Province and Riyadh, smaller living spaces necessitate compact and efficient appliances like microwave ovens and induction cooktops. This shift is further fueled by Saudi Arabia's diverse demographics, which include both local citizens and expatriates, resulting in a demand for versatile cooking solutions that cater to various culinary traditions. As lifestyles change and cooking habits evolve, the market for innovative cooking appliances continues to expand, driven by these transformative trends.
The Saudi Arabia Cooking Appliances Market is segmented into Cooktops & Cooking Ranges, Ovens, and Other Appliances. In 2022, the Cooktops & Cooking Ranges segment held the largest market share, driven by rapid urbanization and increased consumer spending on modern, space-efficient kitchen appliances. Rising disposable incomes and home renovation trends have further boosted demand for stylish and upgraded kitchen solutions. Meanwhile, the Other Appliances segment is expected to grow at the fastest rate through 2031, fueled by busy lifestyles and increasing demand for convenient, time-saving tools like blenders, mixers, and air fryers, which support healthier cooking methods and simplify meal preparation.
The Saudi Arabia Cooking Appliances Market is categorized into Smart and Conventional technologies. In 2022, Conventional appliances held the highest market share as many households still prefer traditional cooking methods, such as gas stoves and ovens. Conventional cooking solutions are also cost-effective, appealing to budget-conscious consumers. However, demand for smart cooking appliances is expected to grow rapidly during 2023-2031, driven by increasing adoption of smart home technologies.
The Saudi Arabia Cooking Appliances Market is divided into Built-in and Freestanding categories. In 2022, Freestanding appliances dominated the market due to their flexibility, easy installation, and cost-effectiveness. These appliances are popular with consumers seeking adaptable kitchen layouts and budget-friendly options. Freestanding models also offer the advantage of easy replacement and upgrades, appealing to a broad consumer base. However, built-in appliances are expected to grow at the highest rate through 2031. These appliances seamlessly integrate with modern kitchen designs, optimizing space in urban areas where kitchens are smaller, and contribute to a sleek, clutter-free aesthetic desired by many homeowners.
In 2022, the Cooking Gas segment held the largest share of the Saudi Arabia Cooking Appliances Market. Cooking gas is favored for its cost-effectiveness, wide availability, and infrastructure, which includes well-established pipelines. Its rapid heat generation, precise temperature control, and energy efficiency make it a popular choice for many households. Cooking gas is especially suitable for preparing a variety of dishes in a time-efficient manner. However, electric cooking appliances are expected to drive market growth through 2031, as urbanization and modernization lead to a preference for electric options, which are easier to install, safer, and more convenient for modern homes.
The Saudi Arabia Cooking Appliances Market is dominated by the Commercial segment, which is expected to maintain its lead throughout the forecast period. Saudi Arabia's flourishing hospitality and foodservice industries, including hotels, restaurants, and cafes, drive demand for commercial-grade cooking appliances. These establishments require durable and efficient equipment to meet high cooking demands. The Residential segment is also growing, with an increase in housing developments and smart home technologies. As more homes adopt smart appliances, there is rising demand for cooking devices that integrate with home ecosystems, offering remote control features and enhanced convenience for busy households.
The Saudi Arabia Cooking Appliances Market is divided into online and offline channels. In 2022, offline channels dominated, with retail stores and specialty shops being the preferred shopping destinations for cooking appliances. Consumers in Saudi Arabia often prefer in-person shopping experiences, which allow them to interact with products before making a purchase. Cultural norms and the availability of physical retail spaces also contribute to the dominance of offline distribution. However, the online channel is expected to see the highest growth during the forecast period, driven by e-commerce platforms offering wider selections, competitive pricing, and the convenience of home delivery.
Competitive Landscape:
The Saudi Arabia Cooking Appliances market is characterized by a vigorous competitive landscape, with prominent entities BSH Home Appliances, Haier Inc., Koninklijke Philips N.V., LG Electronics, Whirlpool, Samsung, Panasonic Corporation and Others at the forefront, collectively accounting for more than 50% of the overall market share. This competitive milieu is fueled by their intensive efforts in research and development as well as strategic partnerships and collaborations, underscoring their commitment to solidifying market presence and diversifying their offerings. The primary competitive factors include pricing, product caliber, and technological innovation.
As the Saudi Arabia Cooking Appliances industry continues to expand, the competitive fervor among these key players is anticipated to intensify. The impetus for ongoing innovation and alignment with evolving customer preferences and stringent regulations is high. The industry's fluidity anticipates an uptick in novel innovations and strategic growth tactics from these leading corporations, which in turn propels the sector's comprehensive growth and transformation.
Report Insights:
The Saudi Arabia Cooking Appliances Market is projected to reach US$ 0.10 billion by 2031, growing at a CAGR of 4.16%.
Urbanization and rising disposable incomes are key drivers of market expansion.
The Commercial segment leads the market, propelled by the hospitality and foodservice industries.
Key players in the market include BSH Home Appliances, Haier Inc., and LG Electronics, focusing on innovation and quality.
Questions Answered:
What is the estimated growth rate of the Saudi Arabia Cooking Appliances market?
What are the key drivers and potential restraints?
Which market segments are expected to witness significant growth?
Who are the leading players in the market?
Key Attributes:
Report Attribute | Details |
No. of Pages | 144 |
Forecast Period | 2023 - 2031 |
Estimated Market Value (USD) in 2023 | $0.07 Billion |
Forecasted Market Value (USD) by 2031 | $0.1 Billion |
Compound Annual Growth Rate | 4.1% |
Regions Covered | Saudi Arabia |
Key Topics Covered:
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Saudi Arabia Cooking Appliances Market
Chapter 4. Saudi Arabia Cooking Appliances Market Overview
4.1. Industry Value Chain Analysis
4.2. Industry Outlook
4.3. PESTLE Analysis
4.4. Porter's Five Forces Analysis
4.5. Market Dynamics and Trends
4.6. COVID-19 Impact Assessment on Market Growth Trend
4.7. Market Growth and Outlook
4.8. Competition Dashboard
4.8.1. Market Concentration Rate
4.8.2. Company Market Share Analysis (Value %)
4.8.3. Competitor Mapping
Chapter 5. Saudi Arabia Cooking Appliances Market Analysis, By Product
5.1. Key Insights
5.2. Market Size and Forecast, 2018 - 2031 (US$ Mn & 000' Units)
5.2.1. Cooktops & Cooking Ranges
5.2.1.1. Gas Cooktops & Cooking Ranges
5.2.1.2. Electrical Cooktops & Cooking Ranges
5.2.1.3. Induction Cooktops & Cooking Range
5.2.2. Ovens
5.2.2.1. Conventional & Convection Ovens
5.2.2.2. Microwave Ovens
5.2.2.3. Combination Ovens
5.2.3. Other Appliances
5.2.3.1. Mixer
5.2.3.2. Food Processor
5.2.3.3. Electric Kettle
5.2.3.4. Blender
5.2.3.5. Air Fryer
5.2.3.6. Coffee Maker
Chapter 6. Saudi Arabia Cooking Appliances Market Analysis, By Technology
6.1. Key Insights
6.2. Market Size and Forecast, 2018 - 2031 (US$ Mn & 000' Units)
6.2.1. Smart
6.2.2. Conventional
Chapter 7. Saudi Arabia Cooking Appliances Market Analysis, By Structure
7.1. Key Insights
7.2. Market Size and Forecast, 2018 - 2031 (US$ Mn & 000' Units)
7.2.1. Built-in
7.2.2. Freestanding
Chapter 8. Saudi Arabia Cooking Appliances Market Analysis, By Fuel Type
8.1. Key Insights
8.2. Market Size and Forecast, 2018 - 2031 (US$ Mn & 000' Units)
8.2.1. Cooking Gas
8.2.2. Electric
Chapter 9. Saudi Arabia Cooking Appliances Market Analysis, By End User
9.1. Key Insights
9.2. Market Size and Forecast, 2018 - 2031 (US$ Mn & 000' Units)
9.2.1. Residential
9.2.2. Commercial
Chapter 10. Saudi Arabia Cooking Appliances Market Analysis, By Distribution Channel
10.1. Key Insights
10.2. Market Size and Forecast, 2018 - 2031 (US$ Mn & 000' Units)
10.2.1. Online
10.2.1.1. E-Marketplace
10.2.1.2. Brand Websites
10.2.2. Offline
10.2.2.1. Hypermarket/Supermarket
10.2.2.2. Specialty Stores
10.2.2.3. Others
Chapter 11. Company Profile
(Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
BSH Home Appliances
Electrolux
Godrej
Haier
Koninklijke Philips
LG Electronics
Panasonic
Samsung
Whirlpool
For more information about this report visit https://www.researchandmarkets.com/r/wdasx0
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