The global market for cooking hoods is predicted to expand at a CAGR of 4.5% during the forecast period of 2023 to 2030. It is anticipated that the primary elements driving market expansion would be technological advances in conjunction with an increase in the utilization of IoT in kitchen hood devices. As a result of the preference of customers for products that include intelligent characteristics, such as noise reduction, wireless connectivity, and the installation of temperature, optic, and infrared sensors, manufacturers are placing a greater emphasis on the development of novel equipment.
The Food Service Industry is Expanding, and More Restaurants Are Opening in Demand for Cooking Hoods
The global market for cooking hoods is being driven by factors such as an increase in the number of cloud-based kitchens and service restaurants as well as an expansion in the food service industry. After cooking, the air quality in the kitchen can be significantly improved with the use of a kitchen hood. The gadget draws in contaminated air or air that is not wanted and then expels it into the surrounding environment. Customers are spending more money on modular kitchens because they are well-organized space-saving choices that maximize the use of the floor in a compact area. Customers are spending more money on modular kitchens because of these benefits. When moisture from the air is absorbed by hood ventilation or a kitchen exhaust fan in the kitchen, this might lead to cracks in the ceiling and walls. As a consequence of this, the demand for cooking hoods is continuously increasing all over the world.
A growing number of people are becoming aware of the numerous advantages that cooking hoods offer, which is opening up lucrative chances in the market. It is anticipated that this will accelerate the growth of the kitchen hood market share around the world. The increased use of range hoods can be attributed to a variety of factors, including shifting lifestyles and busier work schedules. The importance of maintaining a clean kitchen is one factor that is expected to contribute to an increase in demand for home cooker hoods in every region of the world.
Rapid Increase in the Utilization of State-of-the-Art Technology in Cooking Hoods
Those who make cooking hoods are making investments in the creation of new products as well as research and development efforts that are relevant to this sector. This can be attributed to the presence of restrictions on hydraulic efficiencies, such as those concerning cooker hoods and ventilation systems, as well as controls regarding fuel combustion pollution that are operation-related. Consumers in developing economies typically make investments in ventilation solutions that are both cost-effective and efficient, such as domestic kitchen exhaust fans.
The size of the range hood market is anticipated to expand during the forecast period as a result of an increase in the use of IoT devices as well as a rise in the popularity of smart household kitchen appliances. There is a good chance that the market will be driven by the introduction of cooking hoods with novel shapes and sizes, as well as other features that provide improved use. Innovative goods including self-cleaning gadgets, portable kitchen hoods, and UV protection hoods are being developed by manufacturers. For instance, North American Kitchen Solutions, Inc. has introduced UL710 Listed Type 1 range hoods that do not require factory-cut pipe connections. These range hoods may be purchased from their website. These range hoods assist reduce overall operating costs and keep the kitchen at a comfortable temperature.
Performance That Exceeds Expectations Helps Drive Demand for Wall-Mounted Cooking Hoods
When broken down into its component parts, the wall-mounted cooking hood is the type of range hood that dominates the market for cooking hoods. Cooking hoods that are located on the wall are mounted directly on the wall of the kitchen and are positioned directly above the range. To properly capture smoke and pollutants, wall-mounted range hoods should be installed at a height of between 28 and 36 inches above the cooktop. This is the suggested installation height. In order to ensure adequate ventilation, these hoods are connected to the duct system that is already present in the kitchen. Because they come in such big sizes, range hoods that are placed on the wall are able to totally absorb all of the smoke and fumes that are present in the kitchen. Because of their big dimensions, the kitchen needs to have a greater amount of room. As a result, wall-mounted cooking hoods are among the most often used pieces of equipment in commercial kitchens. Because the air that is exhausted from these hoods typically goes outside via the wall that is located behind them, it is best to utilize a range hood that is wall mounted when the stove is positioned on an outside wall. A chimney is occasionally included with these hoods so that it can help with ventilation.
Under Cabinet, Hood Segment Dominated the Market
In 2021, the under-cabinet hood sector retained the largest market share, with 42% of the total. Because of how simple it is to install, how affordable it is, and how well it works with a variety of kitchen layouts, under-cabinet hoods are the product type. Additionally, the smoke and particles are carried out of the kitchen via the duct, whereas other ductless versions recirculate the air back into the kitchen. Over the course of the projected period, it is anticipated that the ceiling-mount hood sector would record the highest CAGR. This type of equipment is also known as an island hood due to the fact that it is put above the range rather than being attached to the wall. Because of its sophisticated and understated appearance, this category of electronic equipment is quickly rising in favor.
Offline Distribution Channel Among Other Channels Topped the Revenues
In 2021, offline distribution channels held the largest market share. It is anticipated that it will continue to hold the leading position for the duration of the forecast period because of the availability of a large selection of products from which to choose and the benefit of being able to inspect the products before making a purchase. In addition, the vast majority of the biggest corporations have their own specialized stores located in various parts of the world, which also helps the expansion of the market segment. On the other hand, it is expected that the online sector would increase at the greatest CAGR of 4.5% over the course of the forecast year. It is anticipated that the primary growth-driving elements will be the increasing prevalence of e-commerce as well as the use of smart devices such as mobile phones and tablets. The market segment will be driven even further by the benefits provided by online portals, which include price reductions, simple payment alternatives, and free installation services.
North America Remains as the Global Leader
In 2021, North America held the largest share of the global range hood market, and it is anticipated that this region will continue to lead market growth at a consistent rate during the forecast period. The rapid adoption of cutting-edge technologies in the area, particularly in nations like Canada and Mexico, as well as the subsequent need for connected and intelligent gadgets, are the primary factors driving the market. With a CAGR of 5.0% from 2023 to 2030, Asia Pacific is projected to be the regional market that will expand at the quickest rate. The demand for range hoods in the United States is increasing as a result of the continuous growth of the residential sector, which is caused by the rise in the number of households, as well as the significant increases in the number of home improvement projects carried out by consumers in the country.
The Leading Index for Remodeling Activity estimates that annual spending on home improvements in the United States is growing at a rate of approximately 6%. In addition, homeowners are spending a greater portion of their money on initiatives that enhance their lifestyle rather than on standard maintenance activities. In addition, there has been a recent surge in the number of millennials purchasing homes, particularly older homes, which has led to an increase in the demand for increased maintenance. According to the findings of a study conducted by HomeAdvisor, millennials are participating in a greater number of home renovation projects on an annual basis in comparison to those of other age groups. The current upward trend will lead to an increase in demand for range hoods in the United States.
The growth of the market in the Asia Pacific region is being fuelled by an increase in the purchasing power of consumers as well as a surge in demand brought on by greater consumer awareness of the advantages offered by the product. The growing number of working people, particularly in emerging nations like India and China, has led to a growth in the demand for easy-to-use cleaning solutions, which is another factor that is driving the demand for these products. In addition, consumers in this region favor convenient kitchen designs, such as modular patterns, which is predicted to boost the demand even further. This preference is a result of the increasing urbanization that is occurring in the region, as well as the current trend of small and compact homes.
Market Remains Consolidating Challenging New Entrants
The global market for cooking hoods is highly consolidated, with only a few of large-scale vendors holding the majority of the share. The primary motivation for considerable investments by manufacturers in all-encompassing research and development operations is the introduction of individualized products that incorporate cutting-edge technologies. Key strategies that top players have implemented recently include expanding their product portfolios and engaging in mergers and acquisitions. The leading companies in the global market for cooking hoods are as follows: Asko Appliances, Broan, Inc., BSH Home Appliances Corporation, Elica S.p.A., Faber S.p.A., Falmec S.p.A., Miele, Inc., Panasonic Corporation, Samsung Electronics, and Whirlpool Corporation. These businesses place their primary emphasis on the modification of existing products in order to add new features and functions. For example, Faber came up with a novel idea for a chimney that did not include a filter. This chimney produces significantly less noise than competing products and does not need to be cleaned on a regular basis.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Cooking Hood market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Key questions answered in this report
