According to a new market report published by Transparency Market Research titled ‘Cooking Hood Market (Product Type: Wall Mounted Hoods, Ceiling Mounted Hoods, Under Cabinet Type Hoods and Others; Suction Power: Less than 800 m3/h, 800-1200 m3/h, and More than 1200 m3/h; Decibel: Less than 40 Decibels, 40-60 Decibels, and More than 60 Decibels; Application: Residential and Commercial; Distribution Channel: Online and Offline) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’.
- The global cooking hood market was valued at US$ 4,952.9 Mn in 2019 and is expected to grow at a CAGR of 4.7% from 2019 to 2027. Increasing expenditure on household appliances and increasing awareness about indoor health and hygiene are also expected to boost the global market of cooking hood in the near future.
- Europe holds a major share of the global cooking hood market, followed by North America. Awareness about overall safety, sanitation, and hygiene among consumers and food service center owners has propelled the demand for cooking hood in these regions.
- The cooking hood market in Asia Pacific is likely to expand at a notable growth rate during the forecast period, due to expansion of the catering industry and strong product innovation among cooking hood manufacturers in the region.
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- Cooking hood is primarily preferred by the hotel industry, restaurants, and other food service establishments to wash glassware, pots, dishes, and utensils that are utilized to prepare or serve food.
- Rise in the number of hotels, restaurants, and cafes is a major factor driving the cooking hood market.
- Additionally, standards enacted by governments and various associations regarding cleanliness and hygiene are key factors boosting the attractiveness of cooking hood among consumers.
- Modern cooking hood contains upgraded technology and sensors, which offers several features that make cooking more convenient. Expansion of the cooking hood market in emerging economies due to rising income and changing consumer preference toward e-commerce are driving the business expansion of cooking hood manufacturers, which in turn is boosting the cooking hood market.
- The factors restraining the cooking hood market growth in the forecast period:
- Presence of substitute
- High maintenance cost
- In terms of product type, wall mounted hoods are mostly preferred by households, hotels, restaurants, and cafes owing to their convenience and cost-effectiveness
- In terms of suction power, the 800-1200 m3/h segment constitutes a share of over 56% of the global cooking hood market. This is due to more prevalence of compact households. Moreover, they are more affordable and adequate for the average kitchen size in households.
- In terms of decibel, 40-60 decibels dominates the cooking hood market due to its less noise and presence of fewer fans as compared to higher decibel cooking hoods.
- Based on application, the residential segment dominates the market due to higher application of cooking hoods in houses, apartment, villas, etc.
- In terms of distribution channel, the offline channel dominates the cooking hood market since consumers want to physically know about the product. However, online retail stores are likely to be the highly preferred segment during the forecast period, due to a rise in preference for online shopping in recent years.
- In terms of region, Europe holds a major share of the global cooking hood market, followed by North America. Awareness about overall safety, cleanliness, and hygiene among consumers and food service center owners has propelled the demand for cooking hood in these regions.
- The cooking hood market includes several players who are focused on the development of new products to cater to the rising and shifting consumer preferences.
- The reports includes the below mentioned pointers of the major players operating in the cooking hood market:
- Competition Matrix
- Company Overview
- Product Profiling
- Market Share Analysis (2018)
- Product innovation
- Business Strategies / Recent Developments
- Technological advancements
- Key mergers and acquisitions
- Expansion strategies.
- Company Financial
Major Players covered under the scope
Market Segmentation/Research Scope as follows: -
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