Cooking Hood Market set to expand at a CAGR of 4.7% during forecast period. If you have any query regarding cooking hood market, then Ask our Industry Expert.
Albany, NY -- (SBWIRE) -- 02/14/2020 -- 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.
cooking hood market
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
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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.