Electric Grill Market Set to Witness an Uptick during 2019 to 2025Posted by Mrudula Anil Karmarkar on December 22nd, 2020 The global electric grill market size is expected to reach USD 5.21 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.1% during the forecast period. Several factors including shifting preference for at-home grilling system as well as fulfilling leisure time in cooking activities on account of increasing interest for experimental cooking is expected to drive the market. Covid 19's rapid development worldwide has led to serious implications for most suppliers of electronics and electrical products, in the form of supply chain disruptions. While the pandemic crisis has decreased the frequency of purchase of consumer appliances, the lead time for delivery of orders has also increased significantly. Limited availability of components, restricted labor supply, and other supply chain related costs are some of the major challenges that most industry players are focusing on at present. The end of the lockdown is expected to bring this industry significantly higher consumer traffic, most notably through the online channels, and the manufacturers will need to design their production plans and distribution networks in tandem with this changing business environment. 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. Barbecuing has evolved beyond just a pastime and has become an integral part of consumer lifestyle, owing to the changing lifestyle attributed to rising disposable income. The passion for adding flavors to food as well as entertaining family and friends, is gaining a prominent share in developing the market for electric grills. According to the Hearth, Patio & Barbecue Association (HPBA), in July 2017, 72% of consumers opted for flavor, 52% opted for lifestyle, and 40% consumers opted for entertainment as their source of grilling food at home. In addition, factors such as convenience, accounted for 33%, hobby accounted for 19%, flexibility accounted for 18% and health accounted for 18% as well in North American. The prominence of charcoal grills and gas grills is likely to affect the sales of electric grills in near future. The preference of consumers to add authentic taste and coal flavor particularly among the baby boomers generation is likely to drive the market. Although, the increasing occurrence of fire damages by these dominant grilling products is expected to drive the consumers towards electric grill appliances. Growing demand for residential application is witnessed in Asia Pacific and Africa. The changing lifestyle of consumers, particularly in the developing economies, has led to growth in sales of the product. Increasing consumption of street food in countries, such as China and Japan are expected to propel the regional growth. Street food comprises the best available food in China and people prefer to add natural fiery taste to their food. Electric Grill Market Report Highlights
The commercial application led the global as well as North America market. The vast market for grilled food owing to its natural taste and associated health benefits prevail in countries like U.S. and Canada. Moreover, according to the HPBA, 35% of U.S. consumers planned to purchase a new grill or smoker in 2017. Most of the buyers are likely to replace or upgrade their current grill appliance. The adoption of electric grills witnessed a surge on account of the rising preference of consumers for grilling meals at home. It is more feasible as it does not incur the need of checking temperature, adding charcoal, and dealing with smoke. Moreover, the advantage of convenience and indoor utility of these products have an upper stake in the market. Electric grills rely on electricity as a source of fuel for heating surface and grill plate which provides an added advantage of the restriction of charcoal and gas grill with respect to apartment barbecuing. Thus, indoor usage beyond smoke will promote product demand. Moreover, the changing lifestyle of consumers and the adoption of premium products with increased technological advancements are stressing on features such as compact and convenient products. Electric grills are portable, easy to carry products, and incur no installation cost. The working-class professionals also stress on availability of features such as durability and compact size infused with the latest technologies. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/5830/ibb The prominent players are increasing spending on innovation and technology in combination with convenience to shake up the respective categories. For instance, in March 2019, Kenyon International, Inc., launched its new product line IntelliKEN Touch, with a touch control system and built-in kitchen timer for adding precision. In September 2016, Spectrum Brands, Inc. launched under its brand George Foreman Grills, Five Serving Grill & Broil with five non-stick plates. The product provides features of countertop broiling which allows consumers to grill, broil, and melt in a single appliance. The leading players stress on product innovation as a result of new product development that helped gain a greater market share at a global level. The new product launches help keeps the interest of the consumers alive on account of the increasing preference towards healthy food in the majority of the regions. The popular brands such as Weber-Stephen Products LLC and The Coleman Company, Inc. have gained the largest market share of approximately 40% and 8% respectively. Moreover, the players are opting for innovation-led technological products meet the expected demand. For instance, in March 2018, Weber-Stephen Products LLC launched a versatile product, Q1400. The product can be used for barbecue, grilling, baking, convection, and roasting. In December 2016, TTK Prestige Ltd. launched a product with non-stick heating plates and temperature control. Some of the prominent players in the electric grill market include:
Grand View Research has segmented the global electric grill market on the basis of product, application: Electric Grill Product Outlook (Revenue, USD Million, 2015 - 2025)
Electric Grill Application Outlook (Revenue, USD Million, 2015 - 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 |