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An increase in the demand for kitchen hoods due to multiple benefits has propelled the higher growth in market value - Actual Market Research
May, 22
2021

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An increase in the demand for kitchen hoods due to multiple benefits has propelled the higher growth in market value - Actual Market Research

 

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A device with a mechanical fan that hangs over the stove or cooktop in the kitchen is called a kitchen hood, exhaust hood, or range hood. By expelling the air and filtering it, it eliminates airborne grease, combustion products, odours, smoke, heat, and steam. Exhaust hoods are frequently used in conjunction with fire suppression equipment in commercial kitchens to ensure that grease fire gases are adequately evacuated and the fire is rapidly put out.Commercial vent hoods can also be paired with a fresh air blower to bring in outside air and circulate it with cooking odors before the hood draws it out. The majority of exhaust hoods have a filtering system to get rid of oil and other debris. Some vent hoods pump air back into the kitchen, despite the fact that many vent hoods exhaust air outside. Filters may be used in a recirculating system to eliminate smells in addition to grease. People before installing kitchen hood, they learn the pros and cons and people prefer to have comfortable where they can have fast delivery of foods. With new technology of kitchen appliances, the real estate business is increasing day by day. Globally, it has been noticed that there is continously increase in construction of buildings and installing of kitchen appliance has been a major factor to increase in demand for kitchen hood market. Due to the expanding residential real estate industry, rising disposable income, and increased demand for cutting-edge smart electrical appliances, the global market for kitchen hoods is expected to expand at a rapid CAGR. Additionally, rising numbers of working women, simple access to a variety of kitchen hoods, and consumers' continually changing lifestyles are anticipated to propel the global kitchen hoods market throughout the projected period.

According to the Actual Market Research, “Global Kitchen Hood Market Research Report, 2027” it is expected to grow at CAGR value of 4.86% by the forecast period and In 2021 the market size was valued to be worth of USD 8.349 Billion. Consumer spending on modular house building has increased as a result of the growing need for effective storage and space-saving that maximises floor utilisation in compact places. In order to improve aesthetics and general home comfort, consumers are installing sophisticated range hood systems in smart kitchens, which is fueling significant development potential. Systems with integrated IoT technologies are being introduced by businesses to enhance total home connectivity. The statistics for the business will be impacted by expanding urbanisation and rising government measures to rehabilitate outdated urban residential structures.

Kitchen hood by product type is classified into three types, under cabinet, wall mounted and ceiling mount. Ceiling mount has to be installed in a standard height for chimney, it has height of 8” and 9” ceiling. This makes it suck the moisture and eliminate the impurities. Wall mount have fixed in the kitchen and this have to be installed at the height of 28 and 36 Inches from the cooktot. It is expected that with range hood inserts and professional grade hood will grow at rapid pace in the forecast period. Currently the largest market share is dominated by under cabinet and it is demanded due to homeowner interest in installing more and larger cabinets to provide more storage space; design fads like islands and counter-style seating, which incorporate more cabinets into residential kitchens; and manufacturer efforts to include more amenities into cabinets, like LED lighting, pull-out shelves, and racks, which help raise the average sale price.

The Asia Pacific range hood market crossed around more than USD 2.08 billion in 2021. It is also expected to have CAGR value of 6.96% by forecast period. The demand for cooking hoods is predicted to rise in the region due to the increasing number of Quick Service Restaurants (QSRs) and new food joints. Rising consumer disposable income has also supported range hoods in residential applications. Implementation of stringent government food and safety and hygiene regulation in America and Europe. The growing demand for range hoods in modular kitchen in Latin America.  Increasing cosumer awareness and product popularity in Asian countries and rapid development of residential infrastructure in China, Japan and India.

North America have key trends and drivers which are increasing the market value for kitchen hood, It is anticipated that a growing working population in the North American market would increase home consumers' use of this product. Different nations' governments have strict rules governing how clean food processing facilities must be. The market is projected to be driven by these devices' additional functions, which include air quality maintenance, heat reduction, and better safety, in the coming years.

The largest kitchen hood market in Latin America is in Brazil, where a small number of major manufacturers hold the smallest market share. For a developing market, Latin America is a heavily urbanised region. In spite of lower borrowing rates, home appliance consumption declined in the market in 2019, which moderately slowed Brazil's economic growth. Brazil has a market share of more than 40% of the Latin American Kitchen Hood market in 2021. Voice activation and smart technologies kept driving the appliance industry. Despite the hazy economic climate, kitchen hood in Mexico was expanding favourably.Similar to the worldwide trend, the under cabinet sector clearly dominates the region. By the projected time, this market sector is expected to reach a significant market value. A high-CFM range hood with stainless steel baffle filters works well for vigorous Latin cooking. The most powerful alternatives are professional and outdoor hoods, while wall-mounted and island hoods are quite adaptable and versatile for such cooking. According to reports, the ceiling mount sector in the area is predicted to develop at the greatest growth rate of all the segments.

The market share of the under cabinet kitchen hood sector in the Middle East and Africa area in 2021 was 40%. In a situation where cities are quickly urbanising, the area is made up of a collection of nations that are experiencing modest economic growth. Several resources are driving these nations forward and producing urban marketplaces that are ideal for selling appliances to new homeowners. More factors supporting the rise of home appliances in both regions include an increasing middle class, the inclusion of additional areas as peri-urban and urban markets, and the inclusion of more women in the workforce. The ceiling mount segment is anticipated to have a market share of more than 20% by the end of the estimated period.

The Europe kitchen hood market is growing at rapid pace and so in the future also it is forecast period to have grow at high pace. Range hoods are taking the place of older exhaust fans because they are more effective at ventilating spaces. As a result, there is an increasing need for contemporary household appliances that support efficient and practical cooking practises and a corresponding increase in their installation since they have the potential to eliminate smoke and odour via baffle and mesh filters.The development of loT technology and the advancement of technology in general are credited with driving the market growth for range hoods. Due to consumers' growing appreciation for different smart features, such as noise reduction, installation of temperature, wireless connectivity, optic, and infrared sensors in various kitchen appliances, major manufacturers are focusing on developing more modern gadgets.

The COVID-19 epidemic had a little impact on the range hood market. During the first half of 2020, the market experienced a decline in sales as a result of mounting financial concerns and a shift in consumer preference toward buying necessities. However, with the reopening of important markets throughout the world and the rise in home remodelling projects, the demand for range hoods saw an increasing trend.