by The electric grill market has witnessed significant growth over the past few years owing to the rising trend of outdoor cooking among consumers. Electric grills offer various advantages such as ease of use, quick cooking, and ability to control cooking temperature precisely. They also produce less smoke and mess compared to gas or charcoal grills. The growing popularity of portable and compact electric grills suitable for small outdoor spaces like patios and decks is further augmenting the market growth.
The Global electric grill market is estimated to be valued at US$ 5.22 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the electric grill market are Medtronic, DePuy Synthes, Stryker Corporation, NuVasive Inc., Globus Medical Inc., Orthofix International N.V., Zimmer Biomet Holdings Inc., Alphatec Holdings Inc., B. Braun Melsungen AG, Centinel Spine LLC.
The Electric Grill Market Growth is expected to witness lucrative growth opportunities due to rising consumer preference for outdoor cooking. Manufacturers are focusing on developing innovative electric grill products with advanced features such as temperature control, compact size, ease of cleaning etc.
The global expansion of the electric grill market is driven by growing consumer demand across international markets. Manufacturers are investing in emerging economies in Asia Pacific and Latin America to tap the high market potential.
Market Drivers
Rising disposable incomes of consumers globally has increased their spending on grilling equipment and related outdoor cooking accessories. The easy availability and affordable prices of electric grills compared to other types of grills is a key factor augmenting their adoption rate.
PEST Analysis
Political: The Electric Grill market is influenced by various government policies and regulations regarding safety and hygiene standards for food preparation appliances. Changes in import duties can impact the prices of products and components.
Economic: Rising disposable incomes and higher consumer spending on home appliances is driving demand for electric grills. Economic factors such as interest rates and inflation also impact consumer decisions.
Social: Changing consumer preferences towards convenient cooking appliances is a key social trend. Health and wellness concerns are increasing popularity of grilling as a healthier way of cooking. Social media marketing influences purchasing decisions.
Technological: Advancements in technology lead to new product innovations in electric grills such as improved heating systems, features like preset temperatures and timers for easy grilling. Integration with smart home systems allows remote control and monitoring of grills.
The Electric Grill market gathers most of its value from the Asia Pacific region. Countries like China, India and Japan have large populations and rising incomes, driving demand. North America is another concentrated region owing to high grill ownership in the United States.
In terms of fastest growth, the Electric Grill market in the Middle East and Africa region is estimated to expand at strong rates through 2031. Factors fueling this include urbanization, westernization of lifestyles and increasing numbers of nuclear families seeking convenient appliances. Government initiatives to diversify economies away from oil are positively impacting disposable incomes as well.
