Cooktop Market: Introduction
- A cooktop is commonly found in kitchens for heating and cooking purposes. It is generally used for heating the base of pots and pans. Cooktops are available in various types and are powered by gas, electricity, or induction to heat the food. Traditionally, cooking happened over an open fire. Gradually, with the development of pottery and utensils, regulated heat became essential. When cultures began to leave behind their wandering ways, more consideration was given to refine culinary techniques, leading to the creation of cooktops. Cooktops can be found integrated with an oven or they may be standalone devices. The market for cooktops is expected to witness huge growth during the forecast period.
Key Drivers and Opportunities of the Global Cooktop Market
- Consumers are opting for energy-efficient kitchen products that help minimize utility bills and are relatively cost effective. Also, induction cooktops are comparatively safer to use than LPG cylinders due to the absence of open flames. They can cook even at low temperatures at reduced time and energy usage. People are compelled to opt for alternatives such as energy efficient cooktops due to the rising cost of conventional cooking fuel. This is expected to drive the cooktop market during the forecast period.
- Growing urbanization and the newly launched kitchen appliances with better safety features is significantly contributing to the increased adoption of induction cooktops, globally. Growing western kitchen styles is driving the appliances market comprising microwaves and cooker hoods. Western style kitchen appliances reduce unpleasant issues such as cooking smoke and encourage safe and healthy cooking methods. Advanced technological innovations such as flame-less cooking and development of temperature control is the primary focus of manufacturers globally.
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- Growth in working class population coupled with trend of fast food consumption has increased health consciousness among customers. Of late, demand for induction cooktops that cook food easily with less oil has increased, which in turn is likely to positively impact the induction cooktop market during the forecast period.
- Cooktops can function properly with cooking vessels made of cast iron or steel. However, aluminum, copper pans, and glass cookware do not work on induction cooktops, which is expected to restrain the growth of the market during the forecast period.
North America and Europe to Hold Major Share of the Global Cooktop Market
- In terms of region, the cooktop market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America and Europe are expected to boost the cooktop market during the forecast period. Rising awareness among people regarding safety features of kitchen appliances including cooktops is expected to drive the demand for the product in these regions.
Key Players Operating in the Global Cooktop Market
- CG Power and Industrial Solutions Limited
- Electrolux AB
- Fisher & Paykel Appliances Holdings Limited
- Frigidaire Appliance Company
- Koninklijke Philips N.V.
- LG Group (Corporation)
- Robert Bosch GmbH
- Smeg Group S.p.A.
- TTK Prestige Limited
- Whirlpool Corporation
