The new report by Expert Market Research titled, ‘Global Multi Cooker Market Size, Share, Price, Trends, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global multi cooker market, assessing the market based on its segments like product type, application, distribution channel, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 638.5 Million
- Forecast CAGR (2023-2028): 10.5%
- Forecast Market Size (2026): USD 1159.2 Million
Customers are becoming more aware of their health and nutritional habits as a result of the growing prevalence of obesity, encouraging them to try new recipes and adopt healthier lifestyles. This is expected to help multi-cookers grow in popularity around the world. Buyers are swiftly switching from manual to electric apparatuses, such as multi cookers, as a result of advances in innovation and robotisation in all circles.
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The surge in demand for multi-cookers in emerging nations is also predicted to grow at a quick rate, owing to changes in living standards and people’s hectic schedules, which will likely provide manufacturers with potential growth prospects.
Industry Definition and Major Segments
A multicooker (also spelled “multi cooker”) is an electric kitchen appliance that uses a timer to automate cooking. Food can be boiled, simmered, baked, fried, deep fried, grilled, stewed, steamed, and browned in a typical multicooker.
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On the basis of product type, the market is segmented into:
- Round
- Cube
- Others
The industry can be segregated on the basis of application into:
- Restaurants
- Home Uses
- Others
Based on the distribution channel, the market is divided into:
- Electrical Goods Retailers
- Supermarkets/Hypermarkets
- Departmental Stores
- Homeware Stores
- Online
Regionally, the industry can be classified into:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Market Trends
Consumers’ increasing disposable income, improving lifestyles, and creative product offerings and campaigns by manufacturers are some of the other aspects that aid the global multi cooker market’s overall expansion. Individuals’ growing preference for modular kitchens, and their growing interest in innovative and appealing kitchen appliances, are expected to boost multi-cooker market growth over the forecast period.
The adoption of different cooking techniques, such as the multi-cooker, which can cut cooking time, has increased as buyers’ awareness of the preservation of gas and power has grown. The multi-cooker protects the food from scorching while it is being prepared. Several prominent chefs use multi-cookers because they retain key nutrients better than traditional boiling and steaming processes. These factors are expected to have a positive impact on multi-cooker market growth.
Key Market Players
The major players in the market are Koninklijke Philips N.V., KitchenAid (Whirlpool Corporation), Breville Inc., and Tefal SAS, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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