Market outlook of global multicookers
Technavios market research analyst predicts the global multicooker market to reach a market value of over $743 million by the end of 2019. The key regions where multicooker adoption is the highest are North America and Europe. Consumers who preferred to eat in restaurants and food outlets, have developed a passion for cooking at home. This trend towards creating restaurant like food at home is propelling the market for electric kitchen appliances.
The market is further strengthened by social media and digital advertising, which gives consumers exposure to new cooking and healthy living trends. With innovations in product offerings and extensive promotional campaigns, leading vendors such as Philips and DeLonghi are extensively investing in brand building activities which will further accelerate the demand for multi cookers during the forecast period.
What is a multicooker and why is it important?
A multicooker, which is an appliance that offers the consumers various advantages and features compared to conventional pressure cookers and slow cookers. . It can replace various appliances like stoves, ovens, steamers and yoghurt makers due to its multi-functionality. Another benefit of owning a multicooker is its energy saving capability. Unlike ovens which use around 10kW power, multicookers come with energy saving capabilities and use 0.8 to 0.9 kW electricity. Features like user-friendly LCDs, time-delay and yoghurt-maker function, and pre-programmed recipes are further attractive enhancements in multicookers. They formed nearly 3.5% of the small kitchen appliances market in 2014.
Leading vendors would launch multicookers which will have wi-fi connectivity and will have the ability to be controlled though mobile apps. For instance, in September 2015, Philips showcased its connected multicooker that can be controlled with the use of WiFi. The device can also be connected to the ChefConnect app which helps to monitor the nutritional content of the food. The device comes with a MyRecipe feature to ensure that the user can save the recipes for later use. It uses Double-Coil for heating purpose which ensures that the food is cooked at a faster pace and heat is uniformly distributed. With 21 pre-set functions, like slow cooking and frying, this product has various distinguishing features to set it apart from other multicookers currently available in the market. As the leading vendors in the market incorporate newer innovations in their offerings, the market will be propelled further.
Further market analysis on geographical segmentation of global multicookers
• North America
North America is the leading region in the global multicooker market growing at a CAGR of 12%. The increase in health consciousness due to rising obesity levels is driving people to cook at home. As multicookers are multi-functional and will soon have enhanced technological features like Wi-Fi connectivity, the market is attracting demand from residential consumers.
Factors driving the growth of the global multicooker market
• Change in food habits and lifestyle
• Sustained production in key leading countries
• Strong distribution channels
• Improvement in income levels
This market research report provides a number of factors contributing to the adoption and opportunities in the global multicooker market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Competitive landscape and leading companies in the global multicooker market
Competition among leading companies as well as other prominent ones is intense; however, due to the increasing consumer expenditure on electric kitchen appliances, the market is expected to increase YoY during the forecast year. Therefore, the potential to thrive in this market is high provided the companies stay competitive on their offerings and price and launch more engaging marketing campaigns to increase awareness among customers.
Leading vendors of global multicooker market Other prominent vendors of global mutlicooker market
KitchenAid JML Group
Morphy Richards National Presto Industries Inc.
Key questions answered in this report
• What factors will influence the market size and market forecast of the global multicooker market over the next four years?
• What are the key market trends of the global multicooker market?
• What is driving the growth rate of the global multicooker market?
• What are the various opportunities and threats faced by the global multicooker market?
• What are the strengths and weaknesses of the key vendors?
• What are the market opportunities and threats faced by the key vendors?
• Trending factors influencing the market share in North America, Europe, APAC, and ROW.
• What are the key outcome of the five forces analysis on the global multicooker market?
Technavio also offers customization on reports based on specific client requirement.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
Key market highlights
PART 05: Market overview
Global home appliances market
PART 06: Market landscape
Global kitchen appliances market
Global multicooker market
Global multicooker market by purchasing channel 2013
Five forces analysis
PART 07: Geographical segmentation
Global multicooker market by geographical segmentation 2014-2019
Multicooker market in North America
Multicooker market in Europe
Multicooker market in APAC
Multicooker market in ROW
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
Other prominent vendors
Market vendor analysis 2014
PART 14: Other prominent vendors
PART 15: Key vendor analysis
PART 16: Appendix
List of abbreviations
PART 17: Explore Technavio
Exhibit 01: Product offerings 7
Exhibit 02: Global home appliances market 2014-2019 ($ billions)
Exhibit 03: Segment-wise distribution of home appliances in 2014
Exhibit 04: Expenditure of high-income US households on kitchen appliances 2013
Exhibit 05: Global kitchen appliances market 2014-2019 ($ billions)
Exhibit 06: Share of small and large kitchen appliances in global kitchen appliances market 2014
Exhibit 07: Global multicooker market 2014-2019 ($ millions)
Exhibit 08: Five forces analysis
Exhibit 09: Global multicooker market by geographical segmentation 2014-2019 ($ millions)
Exhibit 10: Global multicooker market by geographical segmentation 2014
Exhibit 11: Global multicooker market by geographical segmentation 2019
Exhibit 12: Global multicooker market by geographical segmentation 2014-2019
Exhibit 13: Multicooker market in North America 2014-2019 ($ millions)
Exhibit 14: Adult obesity rates in US and Canada 2014
Exhibit 15: Distribution of expenditure on home appliances in US 2012
Exhibit 16: Average annual expenditure per consumer on small home appliances in US 2008- 2013 ($)
Exhibit 17: Multicooker market in Europe 2014-2019 ($ millions)
Exhibit 18: Multicooker market in Russia 2012-2014 ($ millions)
Exhibit 19: Multicooker market in APAC 2014-2019 ($ millions)
Exhibit 20: Average per capita disposable income in India and China 2009-2013 ($)
Exhibit 21: Distribution channels of small kitchen appliances in APAC 2013
Exhibit 22: Multicooker market in ROW 2014-2019 ($ millions)
Exhibit 23: Per capita expenditure on food and beverages in Saudi Arabia and UAE 2012 ($)
Exhibit 24: Average number of hours devoted to cooking per week 2014
Exhibit 25: Home appliances industrial production in China 2014
Exhibit 26: Percentage of omnichannel shoppers in US 2014
Exhibit 27: Global small appliance sales through online retail 2014 (units)
Exhibit 28: Expenditure on household appliances in US, UK, and India 2013 and 2014 ($ billions)
Exhibit 29: Region-wise distribution of middle class population 2009-2030(millions)
Exhibit 30: Global middle class population 2009-2030 (billions)
Exhibit 31: Drivers and their impact
Exhibit 32: Number of slow cooker units sold in US 2008-2014
Exhibit 33: Slow cooker market in UK 2014-2019 ($ millions)
Exhibit 34: Impact of drivers and challenges
Exhibit 35: Global smart appliances market 2014-2019 ($billions)
Exhibit 36: Global urban population 2005-2014 (percentage of total population)
Exhibit 37: Household appliance distribution in China 2013
Exhibit 38: Tefal: Strategies for growth
Exhibit 39: Crock-Pot: Product offerings
Exhibit 40: Crock-Pot: Business segmentation
Exhibit 41: Cuisinart: Product offerings
Exhibit 42: Cuisinart: Business segmentation
Exhibit 43: JML Group: Product offerings
Exhibit 44: JML Group: Business segmentation
Exhibit 45: Presto: Product offerings
Exhibit 46: Presto: Business segmentation
Exhibit 47: Redmond: Product offerings
Exhibit 48: Redmond: Business segmentation
Exhibit 49: Sage: Product offerings
Exhibit 50: Sage: Business segmentation
Exhibit 51: Breville: Product segmentation
Exhibit 52: Fagor: Business segmentation
Exhibit 53: KitchenAid: Product segmentation
Exhibit 54: Philips: Business segmentation by revenue 2014
Exhibit 55: Philips: Business segmentation by revenue 2013 and 2014 ($ billions)
Exhibit 56: Philips: Geographical segmentation by revenue 2014