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 De’Longhi 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.
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.
Leading vendors of global multicooker market Other prominent vendors of global mutlicooker market
Breville Crockpot
Fagor Cuisinart
KitchenAid JML Group
Morphy Richards National Presto Industries Inc.
Philips Redmond
Tefal Sage
