Multicookers

Multicookers

Global Multicookers Market to Reach US$5.2 Billion by 2030

The global market for Multicookers estimated at US$1.9 Billion in the year 2023, is expected to reach US$5.2 Billion by 2030, growing at a CAGR of 15.3% over the analysis period 2023-2030. Below 5 Quarts Capacity Multicookers, one of the segments analyzed in the report, is expected to record a 15.6% CAGR and reach US$2.5 Billion by the end of the analysis period. Growth in the 5 - 6 Quarts Capacity Multicookers segment is estimated at 17.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$493.1 Million While China is Forecast to Grow at 19.7% CAGR

The Multicookers market in the U.S. is estimated at US$493.1 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2030 trailing a CAGR of 19.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 10.6% and 12.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.8% CAGR.

Global Multicookers Market – Key Trends & Drivers Summarized

What Are Multicookers and How Do They Transform Modern Kitchens?

Multicookers are versatile kitchen appliances designed to simplify cooking by combining various cooking methods into one device. These appliances can perform tasks such as slow cooking, steaming, sautéing, pressure cooking, and even baking. Multicookers are equipped with programmable settings, allowing users to automate their cooking process, reducing the need for manual intervention. The rise of time-saving cooking solutions in households has made multicookers increasingly popular among busy professionals, families, and even amateur chefs looking for convenience without compromising on quality. Their ability to handle diverse cooking tasks in a single appliance is making them a staple in modern kitchens, especially as they help reduce clutter by eliminating the need for multiple devices.

How Are Technological Advancements Shaping the Multicooker Market?

Technological innovation is playing a significant role in enhancing the functionality and appeal of multicookers. Smart multicookers equipped with Wi-Fi or Bluetooth connectivity allow users to control and monitor cooking remotely via smartphone apps. These apps often include recipe integration, real-time updates, and voice control compatibility with virtual assistants like Alexa or Google Assistant, further adding convenience. Advances in pressure cooking and induction heating technologies are also enabling multicookers to offer faster and more energy-efficient cooking solutions. Additionally, the introduction of non-stick and multi-layered cooking surfaces ensures that the devices are easier to clean and maintain, improving user satisfaction. As more consumers embrace smart home ecosystems, the integration of multicookers into these systems is driving market growth.

How Is Changing Consumer Behavior Influencing Multicooker Adoption?

The growing trend of home cooking, driven by health consciousness and a desire to reduce dining-out expenses, is one of the major factors behind the rising demand for multicookers. Consumers are looking for ways to prepare nutritious meals at home while minimizing time and effort, and multicookers cater to this need by simplifying the cooking process. Moreover, the increasing popularity of meal prep and batch cooking for weekly consumption is enhancing the appeal of these appliances, as they allow users to cook large portions with minimal oversight. Additionally, the surge in demand for plant-based and specialty diets, which often require specific cooking methods, is pushing more households to invest in multicookers that can handle a wide variety of ingredients and recipes efficiently.

What Are the Key Growth Drivers in the Multicooker Market?

The growth in the multicooker market is driven by several factors, including technological advancements, evolving consumer preferences, and the rise of smart home appliances. Increasing demand for time-efficient and easy-to-use kitchen solutions is encouraging more consumers to adopt multicookers. Additionally, the rise of smart kitchen devices, with features like app connectivity and remote monitoring, is pushing demand for high-tech multicookers. Consumer preference for healthier home-cooked meals over takeout, coupled with the growing trend of meal prepping and batch cooking, is also propelling market growth. The introduction of energy-efficient and multi-functional models, as well as the growing influence of social media and cooking blogs, is further driving demand, especially among younger demographics looking for convenient, innovative kitchen solutions.

Select Competitors (Total 46 Featured) -

• AmTrade Systems, Inc.
• BEKO Deutschland GmbH
• Bertazzoni SPA
• Black & Decker, Inc.
• Breville Usa, Inc.
• Candy Hoover Group Srl
• Dongguan XiQin Electrical Appliances Co., Ltd
• Elecpro
• Electrolux plc - AEG
• Eolo Elettrodomestici Srl

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