Brazil Induction Cooktop Market Research Report, 2028

Brazil is the largest economy in South America, and is a mature market with affluent consumer base and strong purchasing power. Induction cooktop is referred as a type of cooking appliance that functions by transferring electric power from the glass surface to the magnetic induction cookware using an electromagnetic field. It is equipped with the ability to directly heat the cookware without the need of using any flame or burner. Induction cooktop also features instantaneous changes in heat settings and allows users to cook in high temperature. A household induction cooktop uses a magnetic field, which is used to heat the specially designed cookware placed on the cooktop. Induction Cooktops are sufficient and easiest means for cooking. The cooktops are preferred by consumers owing to the use of energy efficient method of preparing food. Growing middle class families and working women are the factors responsible for the adoption of convenience-oriented lifestyles. Time limitation has become one of the major problems for the working population. Therefore, the induction cooktops have presented as the solution for the time limitation. Induction cooktops cook food easily and quickly, which in turn saves the time and effort of working women population. According to the research report "Brazil Induction Cooktop Market Research Report, 2028," published by Actual Market Research, the market is anticipated to add USD 290.64 million in the upcoming period, 2023–2028. The Market is segmented into by type: Built-In and Freestanding. Freestanding is dominating the market and expected to grow at significant CAGR during the forecast period due to its features like Energy Efficient, Safety, Easy to Clean, Flexibility, quick cooking, and Versatility. On the basis of Application, the market is segmented into Residential and Commercial. With a number of new home development projects underway, demand for induction cooktops is projected to increase. In the past, the steady transition away from gas cooktops benefited the market, and an increasing number of consumers are interested in installing induction cooktops in their homes or large-scale residential projects. Instead of using electricity, most Brazilian kitchens have gas stoves and ovens. In Brazil, for some time, the category was considered a niche, but today it is quite consolidated and present in the best cuisines. According to the Brazilian Journal of Nutrition, more than half of the participants in a study of 1,005 people said they cooked more frequently after the pandemic than before. In addition, the rising need for energy consumption and low operating cost is also fostering the market growth of induction cooktops. For instance; according to IOP Conference Series Materials Science and Engineering, electrical energy now dominates household energy demand, which is expected to increase by 50 percent by 2028. Household induction cooktops have become more prominent in Brazil due to the rise in the working population and purchasing power. The use of modular kitchens and inflation of fuel prices have triggered people to choose an alternative to traditional cookware. An increase in the safety and security measure to safeguard people from any fire accidents also hike up the demand for induction cooktops. The focus on high-tech products and easy-to-use cookware has gained prominence over the years. Various residential construction projects have been on the rise and people prefer installing induction cooktops more so than any other traditional cooking equipment. All these factors are looked at as the key drivers for household induction cooktops market growth. Some of the Induction cooktop stores in brazil are Casas Bahia, Magazine Luiza, Ponto, Fast shop, Uniao Supermercados, Spectra Home Appliances, Harlows Kitchen Concepts, and many more. Considered in this report • Geography: Brazil • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Brazil Induction Cooktop market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type: • Built-In • Freestanding By Application: • Residential • Commercial By Distribution Channel: • Specialty Store • Hypermarkets & Supermarkets • Online 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, analysing 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 Induction Cooktop 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.