A Look into Electric Grill Industry……Deep Analysis…..
The global electricgrill 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.
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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.
Further key findings from the report suggest:
·
In terms of revenue, electric
griddles t is projected to ascend at a CAGR of 5.4% from 2019 to 2025
·
Commercial application led the
global market with an overall revenue share of over 57.2% in 2018
·
North America led the global
electric grill market in 2018, which constituted for 34.8% of revenue share
·
The market is highly
competitive in nature with the main players including The Middleby Corp.,
Taylor Company, Roller Grill International, The Holland Grill Company Inc.,
Dimplex North America Limited. Various manufacturers are concentrating on new
product launches, focusing on product differentiation and technological
advancements.
The
global electric grill market size was estimated at USD 3.68 billion in 2018. It
is anticipated to register a CAGR of 5.1% during the forecast period. The
rising trend of cookouts among younger population has been driving the product
sales. Inclination towards at-home cooking as an option for fulfilment of
leisure and hobby is anticipated to further fuel the growth.
The
adoption of electric grills witnessed surge on account of 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 the product
demand.
Moreover,
the changing lifestyle of consumers and 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
latest technologies.
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.
Browse Press
Release of this report:
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 Smokers
·
Electric Griddles
Electric Grill Application Outlook (Revenue, USD Million,
2015 - 2025)
·
Residential
·
Commercial
Electric smokers was the largest
product segment, accounting for more than 60% of market share in 2018. Smokers
are basic barrel style drum and vertical box which are designed to cook meat in
a slow process. The product allows the smoke of burning wood such as pecken,
hickory, or mesquite logs to enhance the flavor and cooking of the food. These
smoker product forms are often made available in the smaller form for outdoor
cooking or a refrigerator style to cook pounds of meat at the same time. The
product witnesses growth in sales for the outdoor application of cooking owing
to added benefits such as user friendly, low maintenance and easy replacement.
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.
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