The global electric grill market size is expected to reach USD 5.21 billion by 2025, according to a new report by Radiant Insights, 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.
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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.
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.
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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.
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In response to growing consumer preference for grilling delicious meat at home without the need for checking temperature, adding charcoal, and dealing with smoke, manufacturers of smart kitchen appliances have developed electric grill.
Although charcoal grill have perceived higher preference for grilling food in light of their traditional attraction, more consumers are currently preferring electric grills on account of their convenience and ability of using indoors.Read Report Overview: https://www.factmr.com/report/781/electric-grill-marketAs these grills rely on electricity as fuel source for heating surface and grill plate, they alleviate restrictions of charcoal or gas grills with regard to apartment barbecuing.
Indoor use without smoke problems is a key benefit of electric grills, which has underpinned their demand since the recent past.
Fact.MR’s recent analytical research projects the electric grill market to reflect a splendid 9.0% CAGR between the forecast period 2018 and 2028.The Hearth, Patio & Barbecue Association (HPBA) foresees a promising future for the barbecue industry, with nearly 30%of North America’s consumers estimated to use their smoker or grill.
Grilling is gaining widespread momentum as a year-round passion.
Passion for flavorful foods is further likely to trace an upward graph in the region, implying a bright future for grilling & barbecuing industry.Request for the Sample Report: https://www.factmr.com/connectus/sample?flag=S_id=781Survey from HPBA states that over one-third consumers in North America eye on purchasing new grill, with electric grills accounting for nearly 10% of the overall grill sales.
The “Global Electric Grill Market” report offers compound growth from the base year and projected until 2026.
The report is further fragmented on the basis of segmentation that involves product type, application, and geography.
Esticast Research and Consulting provides accurate market size and forecast in relation to the major five regions.
A grilling unit that uses an electric element to supply a constant heat source is called an electric grill.
Moreover, consumer demand for convenience fuelling connected electric grill development is likely to gain significant impetus for the electric grill market share in the coming years.For Better Understanding, Try Sample PDF Brochure of Report (including full TOC, Tables and Figures) @ https://www.esticastresearch.com/report/electric-grill-market//#request-for-sampleMarket OverviewThe research report covers various developments across the geography of the Electric Grill market based on the tools of organic as well as inorganic growth strategies.
The market report presented provides key statistics based on the past and current status of the market coupled with key trends and opportunities.The report not only analyses factors responsible for impacting the Electric Grill market on the basis of the value chain but also evaluates industry forces that will highlight the market in the coming years.
