Download Sample, Impact of Cooking Trends, Urbanization, and Consumer Spending Power on Growth of Hob Market
The hob market is significantly driven by several key factors, reflecting changing consumer preferences, urbanization trends, and increasing disposable incomes are one of the major drivers is the global shift towards home cooking. For instance, one survey revealed that 81% of consumers now cook more than half of their meals at home and as more people embrace cooking at home due to lifestyle changes, concerns over food quality, and the post-pandemic trend of preparing meals at home, demand for gas stoves and hobs has surged. Gas cooking is favored for its precise and immediate heat control, making it a preferred choice among both professional chefs and home cooks. Additionally, energy efficiency is increasingly important, with consumers opting for gas stoves as they provide quicker and more effective heating compared to electric alternatives.
Urbanization and kitchen renovation trends are also pivotal in driving the hob market, for instance, currently, 4.4 billion people accounting for 56% of the world's population live in cities and this trend is predicted to continue with the urban population more than tripling by 2050 when nearly 7 out of 10 people would reside in cities. As cities grow and kitchens become smaller yet more modern, consumers seek compact, sleek, and multifunctional cooking appliances. Additionally, in established markets such as North America and Europe, the ongoing kitchen renovations and the desire for high-end, stylish kitchen designs further propel the demand for premium gas stoves and hobs. The rise in disposable incomes, particularly in emerging markets like Asia-Pacific, Africa, and Latin America, enables consumers to upgrade their kitchen appliances as this trend, coupled with increasing urbanization has expanded the market for modern cooking solutions.
Consumers in these regions are gradually prioritizing convenience and technological advancements which influences their inclination towards more advanced kitchen appliances including gas stoves and hobs. The growing demand for modular kitchens, especially in emerging markets like India, China, and Southeast Asia is restructuring the kitchen appliance landscape. Modular kitchens are valued for their customizable layouts and space efficiency and are increasingly incorporating built-in gas hobs and cooktops that reflect a shift towards more integrated, functional kitchen solutions. As the middle class in these regions expands, there's a noticeable preference for premium, space-saving appliances that align with modern lifestyles. This trend is driving the adoption of built-in gas stoves which offer consumers convenience, improved aesthetics, and enhanced cooking efficiency, thereby fueling the rapid growth of the hob market.
Urbanization and kitchen renovation trends are also pivotal in driving the hob market, for instance, currently, 4.4 billion people accounting for 56% of the world's population live in cities and this trend is predicted to continue with the urban population more than tripling by 2050 when nearly 7 out of 10 people would reside in cities. As cities grow and kitchens become smaller yet more modern, consumers seek compact, sleek, and multifunctional cooking appliances. Additionally, in established markets such as North America and Europe, the ongoing kitchen renovations and the desire for high-end, stylish kitchen designs further propel the demand for premium gas stoves and hobs. The rise in disposable incomes, particularly in emerging markets like Asia-Pacific, Africa, and Latin America, enables consumers to upgrade their kitchen appliances as this trend, coupled with increasing urbanization has expanded the market for modern cooking solutions.
Consumers in these regions are gradually prioritizing convenience and technological advancements which influences their inclination towards more advanced kitchen appliances including gas stoves and hobs. The growing demand for modular kitchens, especially in emerging markets like India, China, and Southeast Asia is restructuring the kitchen appliance landscape. Modular kitchens are valued for their customizable layouts and space efficiency and are increasingly incorporating built-in gas hobs and cooktops that reflect a shift towards more integrated, functional kitchen solutions. As the middle class in these regions expands, there's a noticeable preference for premium, space-saving appliances that align with modern lifestyles. This trend is driving the adoption of built-in gas stoves which offer consumers convenience, improved aesthetics, and enhanced cooking efficiency, thereby fueling the rapid growth of the hob market.
Surging Hospitality Sector Boosts Need for Reliable Gas Stoves in Commercial Kitchens
The rising quantity of commercial kitchen areas, especially in the food service, hospitality, and institutional industries, is driving the expansion of the hob market. The worldwide hospitality sector is expected to increase from US$76.91 billion in 2023 to US$80.29 billion in 2024 as the increased need for dependable, high-quality cooking equipment is driven by the growth of restaurants, hotels, catering services, and institutional kitchens. Preferred in these demanding settings, gas stoves provide quick heat response and accurate temperature control, important for cooking large quantities. Their skill in efficiently managing large-scale food preparation without compromising food quality makes them a crucial appliance in commercial kitchens. This change highlights the necessity for high-tech kitchen equipment that enhances quickness, accuracy, and effectiveness in fast-moving, extensive cooking activities.
Furthermore, the growth of fast-food outlets and quick-service restaurants (QSRs), driven by consumer demand for convenience, further boosts the demand for gas hobs. For instance, the International Foodservice Manufacturers Association (IFMA) revised its 2024 growth projections, expecting the total restaurant segment to grow 0.5%, down from last year's 0.8%. Quick-service restaurants will grow by 0.7%, and fast casuals by 1.3%. IFMA also reduced its inflation forecast to 3.8%. Steady growth is expected in stable segments like healthcare and university food service, outperforming volatile restaurant categories. These establishments require quick cooking equipment that maintains high output and consistent quality, making gas stoves an attractive option.
The rapid growth of the hospitality sector, fueled by surging global and food tourism, has led to a significant shift in kitchen technology investments. Hotels and resorts are prioritizing high-performance kitchen equipment, with gas stoves still dominating due to their unmatched efficiency and ability to provide consistent, quick results. Additionally, the rise of urbanization and government-backed initiatives to modernize food service infrastructure are further driving demand for advanced cooking solutions. As the foodservice industry expands, the need for innovative cooking technologies particularly gas stoves and hobs continues to grow reflecting the industry's commitment to both quality and operational excellence.
Furthermore, the growth of fast-food outlets and quick-service restaurants (QSRs), driven by consumer demand for convenience, further boosts the demand for gas hobs. For instance, the International Foodservice Manufacturers Association (IFMA) revised its 2024 growth projections, expecting the total restaurant segment to grow 0.5%, down from last year's 0.8%. Quick-service restaurants will grow by 0.7%, and fast casuals by 1.3%. IFMA also reduced its inflation forecast to 3.8%. Steady growth is expected in stable segments like healthcare and university food service, outperforming volatile restaurant categories. These establishments require quick cooking equipment that maintains high output and consistent quality, making gas stoves an attractive option.
The rapid growth of the hospitality sector, fueled by surging global and food tourism, has led to a significant shift in kitchen technology investments. Hotels and resorts are prioritizing high-performance kitchen equipment, with gas stoves still dominating due to their unmatched efficiency and ability to provide consistent, quick results. Additionally, the rise of urbanization and government-backed initiatives to modernize food service infrastructure are further driving demand for advanced cooking solutions. As the foodservice industry expands, the need for innovative cooking technologies particularly gas stoves and hobs continues to grow reflecting the industry's commitment to both quality and operational excellence.
Recent Trends in the Hob Industry
- Growing demand for induction hobs due to their energy efficiency, safety features, and ease of use
- The demand for modular kitchens has led to a rise in demand for customized and built-in hobs
- Environmental concerns are driving the adoption of more sustainable cooking technologies with eco-friendly material hobs
- As kitchen spaces become more modern and smaller due to urbanization, sleek and compact hob designs are in high demand
- With the increasing adoption of smart home technologies, connected or smart hobs are becoming a key trend
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Alternative Cookware Adoption Owing to Their Benefits Over Hob May Hamper the Market Growth
The availability of alternative products to hobs for cooking meals such as an oven, microwave, air fryer, slow cooker, grill, or countertop oven that is used for similar cooking functions but may differ in technology, convenience, or application is the biggest challenge for the hob market. These products are based on electric, microwave, and induction technology that can be used to prepare food in commercial spaces and households that pursue convenience, efficiency, and economy. For instance, a microwave would be slightly more efficient at heating water than the flame on a gas stove and should use up a little less energy. The federal government’s Energy Star program which rates appliances based on their energy efficiency stated that cooking or re-heating food in the microwave can save up to 80% of the energy that is being used to cook or warm.
With health-conscious consumers looking to decrease their oil intake, air fryers are gaining popularity as a substitute for regular stovetops. Increasing worries about the high amount of oil used in cooking are fueling this trend. It is estimated that by 2028, worldwide air fryer sales will reach 106.5 million units, with a projected annual growth rate of 10.2% until 2024. Manual and residential air fryers are dominating the market, with expected yearly increases of 7.7% and 7.8% each from 2023 to 2033, indicating a significant move towards healthier cooking practices in regular households.
With health-conscious consumers looking to decrease their oil intake, air fryers are gaining popularity as a substitute for regular stovetops. Increasing worries about the high amount of oil used in cooking are fueling this trend. It is estimated that by 2028, worldwide air fryer sales will reach 106.5 million units, with a projected annual growth rate of 10.2% until 2024. Manual and residential air fryers are dominating the market, with expected yearly increases of 7.7% and 7.8% each from 2023 to 2033, indicating a significant move towards healthier cooking practices in regular households.
Rising Demand for Innovative and Energy-Efficient Kitchen Appliances Drives Market Growth
The increasing trend of home cooking has led to a higher demand for kitchen appliances, as consumers look for both practicality and stylish options to complement their kitchens, and consequently, major industry leaders are diversifying their product offerings and making substantial investments in innovation as a reaction. An exceptional illustration is Beyond Appliances, a new company that focuses on intelligent stoves. Recently, the company obtained US$2 million in funding to improve research and development in November 2024 and increase manufacturing abilities, incorporating advanced functions such as digital timers and whistle counters. In the business sector, Havells India is working to expand its range of products and services.
The company revealed intentions to launch a variety of premium kitchen appliances such as cooktops, hobs, and chimneys, in March 2024. Havells plans to become one of the top three competitors in the market in the next three years by utilizing synergies with its current small domestic appliance products. This change highlights the increasing need for kitchen solutions that are enhanced with technology and visually appealing. Moreover, Stove Kraft, a well-known kitchen appliances manufacturer in India unveiled its latest collection of cutting-edge kitchen solutions namely, Pigeon Black Diamond and Atmos Chimneys, as well as the Slender and Linea Hobs in November 2024, in order to indicate the company’s dedication to innovation, style, and functionality.
The key players invest more in the development of technologically advanced kitchen hobs such as energy-efficiency, smart, electric, and built-in gas hobs which drives the hob market. For instance, in December 2023, RIDAX, a leading OEM and ODM manufacturer of kitchen appliances, focused on innovation and quality. Their popular Hobtop 3 Burner features advanced Sabaf burner technology for precise heat control. RIDAX continually invests in research and development to expand and improve its product range, ensuring it stay ahead of industry trends while meeting customers' evolving needs. Furthermore, in November 2024, TTK Prestige has launched the Efficia Gas Stove, featuring 75% thermal efficiency for superior energy savings. The product, highlighted in a new TVC, emphasizes its fuel efficiency, comparing it to a vehicle’s mileage. Designed to reduce fuel consumption and lower gas bills, the Efficia Gas Stove offers a sustainable and cost-effective solution for modern Indian kitchens.
The company revealed intentions to launch a variety of premium kitchen appliances such as cooktops, hobs, and chimneys, in March 2024. Havells plans to become one of the top three competitors in the market in the next three years by utilizing synergies with its current small domestic appliance products. This change highlights the increasing need for kitchen solutions that are enhanced with technology and visually appealing. Moreover, Stove Kraft, a well-known kitchen appliances manufacturer in India unveiled its latest collection of cutting-edge kitchen solutions namely, Pigeon Black Diamond and Atmos Chimneys, as well as the Slender and Linea Hobs in November 2024, in order to indicate the company’s dedication to innovation, style, and functionality.
The key players invest more in the development of technologically advanced kitchen hobs such as energy-efficiency, smart, electric, and built-in gas hobs which drives the hob market. For instance, in December 2023, RIDAX, a leading OEM and ODM manufacturer of kitchen appliances, focused on innovation and quality. Their popular Hobtop 3 Burner features advanced Sabaf burner technology for precise heat control. RIDAX continually invests in research and development to expand and improve its product range, ensuring it stay ahead of industry trends while meeting customers' evolving needs. Furthermore, in November 2024, TTK Prestige has launched the Efficia Gas Stove, featuring 75% thermal efficiency for superior energy savings. The product, highlighted in a new TVC, emphasizes its fuel efficiency, comparing it to a vehicle’s mileage. Designed to reduce fuel consumption and lower gas bills, the Efficia Gas Stove offers a sustainable and cost-effective solution for modern Indian kitchens.
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North America and Asia’s Growing Hob Market Driven by Innovation and Consumer Preferences
The hob market in North America has a number of top key players including Whirlpool Corporation, General Electric, Bosch, and LG Electronics, and the market is driven by a growing preference for modern kitchen appliances and energy-efficient solutions. Consumers increasingly favor electric and induction stoves due to their efficiency and safety features and consequently, manufacturers offer technologically advanced products in the North American market. For instance, New York State and City launched the Induction Stove Challenge in November 2023 which invited manufacturers to develop energy-efficient induction stoves for New York City Housing Authority (NYCHA) apartments.
This initiative, led by NYCHA, NYPA, and NYSERDA, aims to replace gas stoves without costly electrical upgrades, supporting climate goals and improving residents’ living conditions. The program plans to deploy 10,000 induction stoves, promoting clean energy solutions and advancing climate justice. Smart appliances with connectivity options are gaining traction, especially in urban households. Leading manufacturers focus on offering innovative designs and eco-friendly products. The market also benefits from renovation trends, where homeowners prioritize premium cooking appliances to enhance functionality and aesthetic appeal in their kitchens.
Asia’s hob and stove market experiences robust growth driven by rapid urbanization and rising disposable incomes as in Asia, more than 2.2 billion people live in cities currently, and this number is projected to grow by 50% by 2050, with an additional 1.2 billion urban inhabitants. Consumers in countries like China and India increasingly seek affordable yet high-performing cooking appliances. Gas stoves remain dominant in many regions due to affordability and accessibility, though induction stoves are gaining momentum among younger, urban consumers. Manufacturers focus on catering to diverse market demands from budget-friendly options to premium, technologically advanced models.
Additionally, home cooking in the Asia Pacific region has evolved significantly driven by changes in consumer behavior during the pandemic such as increased hygiene awareness and reduced mobility. Economic recovery and growing consumer expenditure on food and household durables are expected to drive innovation across the food, beverage, appliance, and home care sectors. Key trends include a demand for convenience-driven solutions, multifunctional appliances suited to local needs, and digital integration with cross-industry partnerships. The market reflects a dual focus on affordability for emerging economies and premium offerings for consumers prioritizing ease and quality in-home cooking. Such factors facilitate the adoption of modern cooking solutions such as hobs in this region.
This initiative, led by NYCHA, NYPA, and NYSERDA, aims to replace gas stoves without costly electrical upgrades, supporting climate goals and improving residents’ living conditions. The program plans to deploy 10,000 induction stoves, promoting clean energy solutions and advancing climate justice. Smart appliances with connectivity options are gaining traction, especially in urban households. Leading manufacturers focus on offering innovative designs and eco-friendly products. The market also benefits from renovation trends, where homeowners prioritize premium cooking appliances to enhance functionality and aesthetic appeal in their kitchens.
Asia’s hob and stove market experiences robust growth driven by rapid urbanization and rising disposable incomes as in Asia, more than 2.2 billion people live in cities currently, and this number is projected to grow by 50% by 2050, with an additional 1.2 billion urban inhabitants. Consumers in countries like China and India increasingly seek affordable yet high-performing cooking appliances. Gas stoves remain dominant in many regions due to affordability and accessibility, though induction stoves are gaining momentum among younger, urban consumers. Manufacturers focus on catering to diverse market demands from budget-friendly options to premium, technologically advanced models.
Additionally, home cooking in the Asia Pacific region has evolved significantly driven by changes in consumer behavior during the pandemic such as increased hygiene awareness and reduced mobility. Economic recovery and growing consumer expenditure on food and household durables are expected to drive innovation across the food, beverage, appliance, and home care sectors. Key trends include a demand for convenience-driven solutions, multifunctional appliances suited to local needs, and digital integration with cross-industry partnerships. The market reflects a dual focus on affordability for emerging economies and premium offerings for consumers prioritizing ease and quality in-home cooking. Such factors facilitate the adoption of modern cooking solutions such as hobs in this region.
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The report provides a detailed overview of the hob market insights in regions including North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. The country-specific assessment for the hob market has been offered for all regional market shares, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the hob market. These Y-o-Y projections on regional and country-level markets brighten the political, economic,c and business environment outlook, which are anticipated to have a substantial impact on the growth of the hob market. Some key countries and region included in the hob market report are as follows:
| Regions | Countries |
|---|---|
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Central America Countries, Caribbean Countries, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Poland, Netherlands, Switzerland, Belgium, Sweden, Austria, Norway, Denmark, Czech Republic, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Singapore, Malaysia, Philippines, Vietnam, Thailand, Bangladesh, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Nigeria, Egypt, Turkey, Morocco, Ethiopia, Algeria, Israel, Iran, Iraq, Kenya, Rest of MEA |
Hob Market Research Report Covers In-depth Analysis on:
- Hob market detailed segments and segment-wise market breakdown
- Hob market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in hob industry)
- Current, historical, and forthcoming 10 years market valuation in terms of hob market size (US$ Mn), volume (Units), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Hob market demand analysis
- Hob market pricing analysis over the forecast period (by key segment and by region)
- Hob market regional insights with a region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in hob market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in hob market
- Hob market sales and distribution strategies
- A comprehensive overview of the parent market
- A detailed viewpoint on hob market forecast by countries
- Mergers and acquisitions in hob market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What are the key drivers of growth in the hob market?
The growth in the hob market is primarily driven by increasing demand for modern kitchen appliances, energy-efficient products, and technological advancements in induction and gas hobs.
What are the different types of hobs available in the market?
The market offers various types of hobs, including gas hobs, electric hobs, induction hobs, and ceramic hobs, catering to diverse consumer needs and preferences for cooking efficiency and energy use.
What factors should manufacturers consider when entering the hob market?
Manufacturers should consider factors such as technological innovation, energy efficiency, market demand trends, and local regulations related to safety standards when entering the hob market.
