Multicooker Market was valued at USD 2.5 Billion in 2022 and is projected to reach USD 5.5 Billion by 2030, growing at a CAGR of 10.5% from 2024 to 2030.
The multicooker market has experienced significant growth in recent years, driven by consumer demand for versatile, time-saving kitchen appliances. This article delves into the key market insights, trends, and future projections for the multicooker industry, providing a comprehensive overview for stakeholders and enthusiasts alike.
Multicookers are multifunctional kitchen appliances that combine various cooking methods—such as pressure cooking, slow cooking, sautéing, steaming, and more—into a single device. This versatility appeals to consumers seeking convenience and efficiency in meal preparation. The global multicooker market was valued at approximately USD 910.2 million in 2024 and is projected to reach USD 2,062.6 million by 2033, exhibiting a compound annual growth rate (CAGR) of 9.04% during the forecast period from 2025 to 2033.
Several factors contribute to the robust growth of the multicooker market:
Demand for Convenience: Modern consumers increasingly prefer appliances that simplify cooking processes, leading to a surge in multicooker adoption.
Health Consciousness: Multicookers facilitate healthier cooking methods, such as steaming and pressure cooking, aligning with the growing health trends among consumers.
Technological Advancements: The integration of smart technologies, including app controls and voice commands, enhances user experience and broadens the appeal of multicookers.
Key trends shaping the multicooker market include:
Smart Multicookers: The rise of smart kitchen appliances has led to the development of multicookers with advanced features like remote control via smartphones and programmable cooking settings.
Multi-Functionality: Consumers favor appliances that offer multiple cooking functions, reducing the need for separate devices and saving kitchen space.
Energy Efficiency: With increasing energy costs, there is a growing preference for energy-efficient appliances that offer quick cooking times and lower power consumption.
The multicooker market can be segmented based on product type, application, and distribution channel:
Product Type:
Round Multicookers: Dominant in the market due to their traditional design and versatility.
Cube Multicookers: Gaining popularity for their modern aesthetics and space-saving design.
Others: Includes specialized designs catering to niche markets.
Application:
Home Use: The largest segment, driven by consumer demand for convenient cooking solutions.
Restaurants: Utilized for bulk cooking and consistency in food preparation.
Others: Includes commercial and industrial applications.
Distribution Channel:
Electrical Goods Retailers: Significant market share due to the availability of a wide range of products.
Supermarkets/Hypermarkets: Offer convenience and the ability to compare different models.
Online: Growing segment, especially post-pandemic, as consumers prefer online shopping for its convenience.
Others: Includes homeware stores and departmental stores.
Geographically, North America holds a significant share of the multicooker market, attributed to technological advancements and a high demand for automated products. The Asia Pacific region is also experiencing rapid growth, driven by increasing disposable incomes and a rising middle class.
The multicooker market is highly competitive, with several key players leading the industry:
Philips: Known for innovative designs and smart multicooker models.
KitchenAid (Whirlpool Corporation): Offers premium multicookers with advanced features.
Breville, Inc.: Renowned for high-quality, durable multicookers.
Tefal S.A.S: Provides user-friendly multicookers with a focus on health-conscious cooking.
Others: Include brands like Morphy Richards, Fagor, and Cuisinart, each offering unique features catering to diverse consumer preferences.
Despite the positive growth trajectory, the multicooker market faces challenges such as:
Consumer Awareness: A lack of awareness regarding the full range of features can hinder market growth.
Price Sensitivity: High-quality multicookers often come with premium pricing, which may limit their appeal in price-sensitive markets.
However, these challenges present opportunities for manufacturers to:
Enhance Marketing Efforts: Educating consumers about the benefits and functionalities of multicookers can drive adoption.
Innovate Product Offerings: Developing models that cater to specific regional tastes and preferences can tap into new markets.
The multicooker market is poised for substantial growth, driven by consumer demand for convenience, health-conscious cooking, and technological innovation. Stakeholders in the industry must focus on consumer education, product innovation, and strategic marketing to capitalize on the opportunities presented by this dynamic market.
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Breville
Fagor
Cuisinart
KitchenAid
Philips
Tefal
Sage
Morphy
Elegento
Lakeland
Ninja
Midea
Supor
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Multicooker Market
Home Uses
Restaurants
Food outlets
Based on Types the Market is categorized into Below types that held the largest Multicooker market share In 2023.
Small volume
Medium wolue
Large volume
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Multicooker Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Multicooker Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Multicooker Market, By Type
6. Global Multicooker Market, By Application
7. Global Multicooker Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Multicooker Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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