As per the newly released report on outdoor cooking equipment by Fact.MR, the global market is projected to be valued at US$ 8.53 Bn in 2022, and further expand at a CAGR of 8.1% over the period of 2022-2032.
Additionally, Fact.MR, a market research and competitive intelligence provider, estimates the outdoor cooking equipment market valuation to reach US$ 18.53 Bn by the end of 2032, attributed to factors such as growing demand for outdoor cooking equipment from hikers and mountaineers who have taken up camping as one of their regular weekend activities.
In present times, most outdoor cooking equipment is made from low-profile composites, which, in turn, is creating a lot of rust when they end up in water after rigorous usage. This problem has been noticed by cooking equipment manufacturers and they are working towards manufacturing lightweight cooking equipment made from high-grade composites.
Wireless products in cooking are not new to the world. Wireless thermometers are in use to monitor food temperature. Wi-Fi grills give the freedom to control cooking without looking at it. It can increase or decrease temperature without being anywhere near the grill. Whether it is pellets, charcoal, or gas grills, a Wi-Fi grill is available in all these types.
- Weber Company, in Feb 2021, launched a grill that can be operated on Wi-Fi or Bluetooth and has a digital display as well.
Key Takeaways from Market Study
- By type, outdoor stove/cooktops are projected to provide an absolute $ opportunity worth US$ 2.63 Bn through 2032.
- Grills are anticipated to account for 30.7% market share by 2032.
- By size, 20 to 60 inch outdoor cooking equipment utilization across geographies is anticipated to expand 2.2X in value by 2032.
- The mobile/portable segment is set to create an absolute $ opportunity worth US$ 5.59 Bn by 2032.
- North America is projected to capture around 29.2% of the global outdoor cooking equipment market share by 2032.
- Europe is set to provide an absolute dollar opportunity worth US$ 2.8 Bn by 2032.
“North America has remained the primary consumer of outdoor cooking equipment, with the U.S. leading from the front; there were over 94.5 million camper households across North America as of 2020-2021,” says a Fact.MR analyst.
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Winning Strategy
Manufactures should offer affordable products in high-growth markets and partner with retailers selling outdoor cooking equipment. They need to introduce new product designs in terms of portability and compactness to capture a higher market share and also collaborate with local players and end users to develop newer outdoor cooking equipment made from high-grade composite materials.
Trend of rental outdoor cooking equipment is booming, and industry leaders should tie up with local players to for the customization of products according to need of consumers. Besides, manufacturers should also focus on adding some digital features in smokers and barbecue grills.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the outdoor cooking equipment market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of category (grills, outdoor stoves/cooktops, smokers, fryers & steamers, coolers, boilers, kettles, ovens, other outdoor cooking equipment), fuel/power source (wood, natural gas, electricity, charcoal, others), buyer category (residential/personal, commercial (HORECA, camping, others), placement type (fixed/floor-mounted, freestanding, mobile/ portable), size (less than 20 inches, 20 to 60 inches, above 60 inches), and sales channel (offline (supermarkets and hypermarkets, exclusive brand outlets, speciality stores), online (brand/company websites, e-Commerce), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
About the Consumer Goods Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned consumer goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the consumer goods industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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