lobal Electric Grill Market Is Estimated To Witness High Growth Owing To Growing Popularity of Indoor Cooking

Electric grills do not require traditional fuel sources such as charcoal or propane which makes indoor grilling a possibility. These grills are convenient for small spaces and allow for year-round usage. Key product types include indoor electric grills suitable for apartments and outdoor electric grills for patios and decks. The growing popularity of indoor cooking is driving demand for compact and easy to use electric grill options.

The global Electric Grill Market is estimated to be valued at US$ 4.53 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The key drivers fueling growth of the electric grill market include growing preference for indoor and outdoor grilling across both commercial and household sectors along with rising urbanization globally. Indoor grilling allows urban population restricted by space constraints to enjoy grilled foods throughout the year. Furthermore, electric grills offer convenient and safer indoor cooking compared to traditional gas or charcoal grills. They also eliminate the hassle of refueling or cleaning after each use. Product innovation with smart connectivity features is another factor augmenting demand. However, high initial costs compared to gas or charcoal grills remains a challenge.

SWOT Analysis

Strength: Electric grills offer convenience as they can be used indoors and are easy to start and control. They heat up more quickly than charcoal or gas grills. Electric grills are more affordable than gas grills.

Weakness: Electric grills have a smaller cooking area compared to gas grills. The food may not get the same smoky flavor as with charcoal or gas grills.

Opportunity: Rising disposable incomes and changing lifestyles are encouraging the use of electric small cooking appliances. The growing popularity of grilling among millennials also presents an opportunity.

Threats: Volatility in raw material prices can raise production costs. Strict government regulations regarding energy efficiency could increase compliance costs.

Key Takeaways

The global Electric Grill Market Share is expected to witness high growth, exhibiting a CAGR of 7.9% over the forecast period, due to increasing preference for convenient and easy-to-use small appliances. The market size is estimated to reach US$ 7.88 billion by 2030 from US$ 4.53 billion in 2023.

The North America region is expected to dominate the electric grill market during the forecast period. The growth in this region can be attributed to busy lifestyles, significant disposable income, and growing popularity of outdoor entertaining. According to a survey, more than 60% of Americans own a grill or smoker.

Key players operating in the electric grill market include Weber, Coleman, George Foreman, Traeger, Masterbuilt, Green Mountain Grills, Char-Broil, Kenyon, Camp Chef, Blackstone, Hamilton Beach, TEC, Excelvan, Zojirushi, Delonghi, Brentwood, Fuego, PowerXL, Elite Platinum, and Cuisinart. The competition in the market is expected to intensify further with local players entering the fray with low cost offerings. Players are focusing on product innovation and portfolio expansion.