Smokehouse Market– Statistics And Analysis & Forecast To 2025Posted by Mrudula Anil Karmarkar on March 22nd, 2021 The global smokehouse market size is anticipated to reach USD 157.2 million by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 2.2% during the forecast period. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth. The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution networks to online channels in order to cater to the surging consumer demand. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections. Key market participants have been focusing on innovation and new product development to manufacture environment-friendly components using latest technologies. Most manufactures have been focusing on electric grills to help reduce air pollution caused on account of burning charcoal and wood. North America was the dominant region occupying over 35.0% of the revenue share in 2017. It is projected to account for a major share of the market over the forecast period on account of increasing popularity among young adults for cookouts. Europe is expected to account for the second largest market share in 2017. In addition, the demand for portable products is expected to grow over the forecast period owing to increase in the number of family outings and picnics. Further key findings from the report suggest:
The smokehouse market is characterized by the presence of major companies as well as small- and medium-scale regional players. Some of the major players in the market engage in strategic developments to boost their sales and revenue by expanding their reach and providing customized services to customers. Key players operating in the industry are The Weber-Stephen Products LLC, KitchenAid, Lynx Grills, and Viking Range Corporation among various others.Key players in the market have been trying to cater to both commercials as well as household needs. However, most households particularly in the Asia Pacific prefer the traditional wood-based grills as opposed to electric grills. Leading companies have been increasingly looking forward to product innovation and new product development to manufacture environment-friendly components using the latest technologies. E-shopping and buying with using a smartphone and personal devices, such as laptops and desktops have been gaining pace globally over the past few years. Media has a significant contribution in generating customer involvement and engagement in the smokehouse/grill industry. Media including traditional as well as digital plays a key role in the overall smokehouse/grill market. Various media platforms act as a bridge in establishing communication between customers and suppliers. The growing need for healthy food particularly in North America is expected to facilitate new players to invest in the market. Key players have been focusing on increasing their share in the industry particularly through various e-commerce platforms through product innovation and focusing on new product development. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/5733/ibb The market is characterized by the presence of various well-established players, such as Wolf Steel, Ltd., KitchenAid, Lynx Grills, and Viking Range Corporation along with various small and medium players such as R & V Works; Alto-Shaam, Inc.; and Town Food Service Equipment Company. The companies face strong competition as the majority of them have similar product portfolios. Some of the players are well-established and have strong and vast distribution networks. The key players cater to the demand from household and commercial foodservice industries. With the increasing interest in various types of food products, the demand is expected to rise and positively impact the competition in near future. Grand View Research has segmented the global smokehouse market on the basis of type, product: Smokehouse Type Outlook (Revenue, USD Million, 2014 - 2025)
Smokehouse Product Outlook (Revenue, USD Million, 2014 - 2025)
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com Like it? Share it! More by this author |