The global residential cooking grills market is expected to grow at a CAGR of close to 7% during the period 2018-2022, according to a new market research study by Technavio.
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Technavio has published a new market research report on the global residential cooking grills market 2018-2022 under their food and beverage library. (Graphic: Business Wire)
The report categorizes global residential cooking grills market by application (outdoor cooking grills and indoor cooking grills), by product (gas cooking grills, charcoal cooking grills, and electric cooking grills), and by distribution channel (offline and online). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: innovations and portfolio extensions leading to product premiumization
The integration of technology with cooking appliances has resulted in innovative cooking appliances that save the time and energy of customers. Smart cooking grills, cooktops, and others are in high demand across the globe. Wi-Fi and Bluetooth enabled cooking appliances have been launched in the market. Such cooking appliances facilitate remote and instant monitoring of multiple cooking activities. However, such advanced cooking appliances are associated with high prices owing to their increased functionality.
According to a senior analyst at Technavio for food service research, “The launch of cooking grills with innovative features will help in propelling the growth of the global residential cooking grills market during the forecast period. Product innovations and portfolio extensions facilitate product premiumization. This is expected to positively boost the growth of the global residential cooking grills market during the forecast period.”
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Market trend: growing online sales
The advent of online retail has positively impacted the demand for cooking grills. As of 2017, the global business-to-consumer e-commerce industry was valued at USD 2.27 trillion. The industry is likely to grow significantly during the forecast period. Due to the increased penetration of smart gadgets, the industry is expected to witness high growth potential in future. Weber-Stephen Products, The Coleman Company, Char-Broil, and Napoleon Grills are some of the prominent vendors in the global residential cooking grills market that offer cooking grills through third-party e-retailers such as Amazon.com, Alibaba Group, and others. These vendors sell their products through company-owned web portals as well.
Market challenge: high competition from alternative cooking appliances
The use of alternative cooking appliances poses a major challenge to the growth of the global residential cooking grills market. Alternative cooking appliances include grill pans and grill microwave ovens. Increased price sensitivity of customers influences the demand for such alternative cooking appliances. The rising number of apartment dwellers, too, is a key reason for the shift toward alternative cooking appliances. Outdoor space crunches in apartments lead to reduced demand for residential cooking grills and increased demand for alternative cooking appliances.
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Some of the major contributors to the global residential cooking grills market:
- Groupe SEB
- Koninklijke Philips
- Robert Bosch
- Weber-Stephen Products
- Whirlpool Corporation
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