Multi Cooker Market Outlook
According to a new report by Expert Market Research titled, “Multi Cooker Market Size, Share, Analysis, Report and Forecast 2024-2032″, the global multi cooker market reached a value of USD 779.62 million in 2023. Aided by the rapidly evolving lifestyle trends and an increased penchant for convenience in cooking, the market is projected to further grow at a CAGR of 10.4% between 2024 and 2032 to reach a value of USD 1,415.41 million by 2032.
Multi cookers are versatile kitchen appliances that combine the features of various cooking devices into one. They can perform a myriad of functions such as sautéing, boiling, frying, baking, grilling, roasting, slow cooking, and more. With advanced technological integrations, these devices can often be programmed for various tasks, making them indispensable for modern kitchens. Moreover, with space becoming a premium in urban households, multi cookers, with their multipurpose utility, are proving to be a boon, effectively reducing the need for multiple single-purpose devices.
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As per the multi cooker market analysis, driving the global market growth is the surging demand for smart kitchen appliances that offer both convenience and efficiency. As global urbanisation rates climb, and the pace of life accelerates, consumers are increasingly seeking solutions that can reduce cooking time without compromising the quality of meals. This has directly translated into an augmented demand for multi cookers, known for their time-saving capabilities.
Another key factor propelling the multi cooker market growth is the growing global trend of healthy eating. With a multi cooker, users can control ingredients, portions, and cooking methods, facilitating healthier meal preparation. Furthermore, the energy efficiency of multi cookers, as compared to using multiple appliances, appeals to the environmentally conscious segment of consumers, adding to their popularity.
Technological advancements are also significantly influencing the multi cooker market demand. With innovations such as touch interfaces, programmable settings, wireless connectivity, and compatibility with smart home systems, multi cookers are evolving beyond just cooking devices. They’re becoming an integral part of the connected, smart home ecosystem.
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The appeal of multi cookers is not just limited to households. With an increasing number of small-scale eateries, cafés, and bed-and-breakfast establishments sprouting globally, there’s a growing demand from the commercial sector which further increases the multi cooker market size. These businesses, often operating with limited space and resources, find multi cookers to be cost-effective and efficient.
Multi Cooker Market Segmentation
The market can be divided based on product type, application, distribution channel, and region.
Market Breakup by Product Type
- Round
- Cube
- Others
Market Breakup by Application
- Restaurants
- Home Uses
- Others
Market Breakup by Distribution Channel
- Electrical Goods Retailers
- Supermarkets/Hypermarkets
- Departmental Stores
- Homeware Stores
- Online
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global multi cooker market. Some of the major players explored in the report by Expert Market Research are as follows:
- Koninklijke Philips N.V.
- KitchenAid (Whirlpool Corporation)
- Breville, Inc.
- Tefal S.A.S
- Others
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