The Global Cooking Hood Market is anticipated to expand at a substantial CAGR during the forecast period, between 2020 and 2027. A cooking hood is a cooking appliance used to remove unwanted airborne and additional heat particles from the kitchen. A cooking hood is situated right over a range top or cook top so that it can perform its job more efficiently. In most of commercial kitchens, cooking hoods are used with fire suppression devices, to control grease fire. Most cooking hood comes with filtration systems which helps in removing grease and other particles from the exhaust.
Market Trends, Drivers, Restraints, and Opportunities:
- Rising numbers of restaurants & hotels and regulations laid by associations and government regarding hygiene and cleanliness are major drivers driving the cooking hood market. Moreover, growing preference for e-commerce among consumers is projected to boost the demand for cooking hood.
- Growing demand for cooking hood with smart features and increasing adoption of Internet of Things (IoT) devices are projected to drive the market in the future. Furthermore, the introduction of innovative size & shape and additional features for increased usability is expected to boost the market.
- The presence of substitute products and high maintenance costs are anticipated to hamper the market during the forecast period.
Cooking Hood Market Segment Insights:
The under-cabinet segment to hold significant market share
In the terms of product types, the cooking hood market has been segmented into wall mounted hoods, ceiling mounted hoods, and under cabinet type hoods. The under-cabinet segment is projected to grow at a significant pace during the forecast period due to compatibility, affordability, and easy installation with different kitchen designs.
High use of 800-1200m3/h in homes and fast-food restaurants fuels segment growth
On the basis of suction powers, the market has been segregated into less than 800 m3/h, 800-1200 m3/h, and more than 1200 m3/h. The 800-1200 m3/h is anticipated to hold a major share of the market, as they are mostly used in homes and fast-food restaurants. Furthermore, cooking tops having suction power 800-1200 m3/h generates less noise as compared to the more than 1200 m3/h.
Commercial segment is anticipated to grow due to the emergence of several new hotels and restaurants
Based on of applications, the cooking hood market is fragmented into residential and commercial. The commercial segment holds a significant share of the market, while the residential segment is projected to expand at a substantial CAGR during the forecast period. The commercial segment is growing due to the rising trend of consuming fast food has led to the emergence of several fast food and quick service restaurants, thus boosting the use of commercial cooking hoods.
Easy availability of the products in the store drives the offline segment
In terms of distribution channels, the market is bifurcated into offline and online. The offline segment holds a majority share of the market, as many people prefer buying cooking hoods from stores, as a wide variety of products are available for consumers and can check the product before buying. Moreover, the online segment is anticipated to expand at a significant CAGR, as it provides various benefits such as free installation service, easy payment options, and discounts.
Competitive Landscape:
Key players in the cooking hood market include Asko Appliances, Broan Inc., BSH Home Appliances Corp., Elica S.p.A., Faber S.p.A., Falmec S.p.A., Miele Inc., Panasonic Corp., Samsung Electronics, and Whirlpool Corp. Mergers & acquisitions, collaborations, agreements, and partnerships are some growth strategies adopted by these players to strengthen their geographical presence.
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