The global electric kettle market is expected to reach $21 billion by 2025, according to a new report by Grand View Research. The dollar figure includes the residential and commercial segments.
According to the report, several factors including continued demand for hot beverages from consumers are expected to drive sales in the coming years.
The report noted that kettles used in the home generated revenue of $13.2 billion globally in 2018.
In recent years, electric kettles have gained in popularity with consumers as the popularity of tea and specialty coffees, such as pour-over, have grown. Several suppliers have introduced products that allow consumers to warm water to certain temperatures to achieve optimal taste when brewing specific types of coffees and teas.
Grand View Research noted that stainless-steel kettles generated revenue of $7 billion globally in 2018 as these products can keep liquid warm for long periods, But, the reported said, kettles made of plastic could grow in popularity as consumers look for products that are lighter in weight.