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Three major trends driving range hood market growth over 2020-2026

Author : Rahul Varpe | Published Date : 2020-11-03 

The range hood market is projected to witness a lucrative growth rate over the forthcoming years owing to the increasing food safety & hygiene concerns across the world. In fact, stringent regulations by global governments regarding the cleanliness and hygiene in restaurants and hotels chains have further mandated the installation of range hoods, which will greatly help the market growth. Range hoods are installed in commercial and residential kitchens, mainly to remove the fumes, airborne grease, heat, and combustion products, essentially maintaining kitchen hygiene.

Technological advancements in kitchen hood devices are expected to be one of the key factors fueling market growth. Prominent key players are focusing on developing innovative devices to cater to the growing consumer preference for more smart features. Citing an instance, in May of 2020, Zephyr, a leader in specialty appliance category with its insightful product design and innovative technology, reportedly unveiled a novel range hood model with in-built Bluetooth® stereo speakers, an industry first.

The new product, named Roma Groove, with its exceptional quality sound, outstanding contemporary design, and powerful performance, turns the kitchen into a music-listening lounge. It is equipped with ICON Touch® controls, including Zephyr dual level LED lighting and BriteStrip™ LED lighting, which lights up the cooking surface, giving an aesthetically pleasing glow to the kitchen at night.

As per a Global Market Insights, Inc., research report, range hood market is slated to surpass a $9.5 billion valuation by 2026.

Below are some of the key trends that are likely to influence range hood industry growth:

High demand for modular kitchens

In terms of product, the ceiling mount range segment is experiencing high growth due to shifting customer preference towards modular kitchen layouts. These types of hoods are mainly designed for modular kitchens where nob or stove is installed in the middle area of the kitchen, further allowing many people to cook together. Ceiling hood systems are generally available in an assortment of sizes, colors, materials, and shapes, and are gaining imminence popularity across modern kitchen setups.

Increasing product adoption across residential sectors

In terms of application, the residential application segment will witness substantial growth over the coming years. This anticipated growth is ascribed to the changing consumer preference toward new and modern kitchen cleaning appliances over traditional cleaning systems like fans. With various new innovations in the field of kitchen products, consumers are more inclined towards using more convenient and feature-rich solutions. This trend is expected to stimulate the market growth in the years to come.

Increasing adoption of new kitchen appliances across Asia-Pacific

The APAC range hood market is expected to witness high growth over the coming years. Increasing consumer spending capacity in countries such as South Korea, Japan, India, and China is creating high demand for advanced kitchen appliances, accelerating the growth of the market in the region. In fact, regional consumers are increasingly investing towards the adoption of novel kitchen appliances and the development of modular kitchens to improve their home aesthetics. Moreover, the surging number of food service providers across the region is boosting the APAC market growth.

Recently, numerous industry players are emphasizing on novel product launches to accelerate their business growth. Citing an instance, in June 2020, Xiomi, a renowned home electronics company, reportedly announced the launch of the new MIJIA Smart Kitchen Hood. The novel range hood is mounted on the sidewall, without hovering above the cooker. The new smart range hood also comes along with the MIJIA app connectivity and a smart feature that allows an interconnection between the cooker and the hood. The smart range hood has a 4200W large firepower, 10 levels of safety protection, 230° step-less fire adjustment, and also with an automatic cruise boost.

Zephyr Ventilation, Samsung Electronics, Fotile Overseas Kitchen Appliance, Viking Range, LLC, CaptiveAire Systems, Windster Hoods, Broan, Inc., Faber S.p.A, Whirlpool Corporation, BSH Group, KOBE Range Hoods, Asko Appliances, Vent-A-Hood, Miele, Inc., Panasonic Corporation, and Elica S.p.A. are some of the key players operating in the range hood market.

 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. [email protected] | https://twitter.com/varperahul

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