Residential Cooking Grills Market: Current Analysis and Forecast (2022-2028)
Emphasis on Product (Gas Cooking Grills, Charcoal Cooking Grills, Electric Cooking Grills); Application (Outdoor Cooking Grills, Indoor Cooking Grills); Distribution Channel (Online, Offline); and Region/Country
The residential cooking grills market is expected to register a CAGR of approx. 4% over the period of 2022-2028. Cooking grills are a particular kind of kitchen appliance where the cooking surface consists of an open grate or rack with a heat source underneath; heat typically comes from the equipment’s side, top, or bottom. Vegetables and meat are cooked more quickly when grilled because it typically uses a large amount of radiant, direct heat. There are many types of grills available, including electric, gas, and charcoal. The growing demand for residential cooking grills can be attributed to the rapidly urbanizing households and technological advancement thus, rising the adoption of organic growth strategies among key industry players across the globe. For instance, In April 2022, Napoleon Rogue EQ launched the first full-size electric grill with IoT technology. The product has temperature and grill controls with precision on a 7-inch LCD screen. Owing to these glaring statistics, changing lifestyles and growing urbanization is fueling the demand for residential cooking grills and would contribute to the growth of the market in the forthcoming period as well. Furthermore, the residential cooking grills market is anticipated to grow on account of the increasing consumption of low-fat content grilled food. However, some of the restraints in the market, including the high prices of cooking grills are impeding the growth of this market all over the world.
Middleby Corporation, De’Longhi Appliances S.r.l, Hamilton Beach Brands Inc., Cuisinart, KitchenAid, West Bend, Morphy Richards, Haier Inc, Koninklijke Philips N.V, Panasonic Corporation are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product, the electric cooking grills category accounted for the significant share in the market in 2020”
Based on the product, the residential cooking grills market is segmented into gas cooking grills, charcoal cooking grills, and electric cooking grills. The electric cooking grills segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe. Consumers are seeking lightweight alternatives to various cooking appliances. Electric cooking grills are easier and more convenient to use as consistent addition of fuel, such as charcoal, wood, and gas, are not required. Electric barbeque grills use electricity to provide constant heat to the food.
“Amongst application, the outdoor cooking grills category is expected to witness considerable CAGR during the forecast period”
Based on the application, the market is bifurcated into outdoor cooking grills and indoor cooking grills. The outdoor cooking grills segment grabbed a considerable market share and is expected to grow at a significant CAGR during the forecast period. With the rise in technological advancements and modernization in developing countries, there is an increase in outdoor cooking grills.
“Amongst distribution channel, the online category is expected to witness considerable CAGR during the forecast period”
the market is fragmented into online and offline. The online segment grabbed a considerable market share and is expected to grow at a significant CAGR during the forecast period owing to the increasing ability to offer a more engaging retail experience, operating efficiency, and various discount offers.
“North America to witness significant growth during the forecast period”
North America constitutes a major market for the residential cooking grills industry owing to the increasing popularity of portable cooking grills and the emergence of solar-powered grills, the rising popularity of house parties, and rising innovations and product premiumization in this region.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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Table of Contents
Research Methodology for the Global Residential Cooking Grills Market Analysis (2022-2028)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global residential cooking grills market were the three major steps undertaken to create and analyze the adoption of residential cooking grills in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global residential cooking grills market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the residential cooking grills market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the residential cooking grills market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as the product, application, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the residential cooking grills market. Further, we conducted factor analysis using dependent and independent variables such as rapidly urbanizing households and technological advancement, etc. globally. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the residential cooking grills market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global residential cooking grills market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach were applied to arrive at the market forecast about 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the residential cooking grills market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global residential cooking grills market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global residential cooking grills market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas product, application, and distribution channel in the global residential cooking grills market.
The main objective of the Global Residential cooking grills Market Study
The current & future market trends of the global residential cooking grills market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the residential cooking grills market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product, application, and distribution channel.
- Define and analysis of the regulatory framework for the residential cooking grills market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the residential cooking grills market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the residential cooking grills market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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