The electric grill market comprises electric grills that allow consumers to grill variety of meat as well as vegetable products indoors without emitting smoke. Electric grills are convenient to use and offer hassle-free grilling experience. They are equipped with various power settings that enable to prepare food at desired temperature. Some advanced electric grills come with functions like temperature control probe and smoking box. The proliferation of online and offline distribution channels along with growing popularity of indoor grilling has augmented the demand for electric grills in recent years.
The Global Electric Grill Market is estimated to be valued at US$ 5.22 Mn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Electric Grill market are Medtronic, DePuy Synthes, Stryker Corporation, NuVasive Inc., Globus Medical Inc., Orthofix International N.V., Zimmer Biomet Holdings Inc., Alphatec Holdings Inc., B. Braun Melsungen AG, Centinel Spine LLC. The rising health awareness among people along with growing preference for smokeless cooking is propelling the demand for electric grills globally. With increasing disposable income, people are willing to spend more on technologically advanced and premium electric grills. Major players are expanding their product portfolio and focusing on emerging markets like Asia Pacific and Latin America to tap the growth opportunities.
The global shift towards sustainable living has boosted the popularity of electric grills in recent years. With growing concerns about health hazards of traditional charcoal or gas grills, many consumers are opting for eco-friendly electric grilling solutions. Electric grills allow indoor grilling and come with added advantages like easy cleanup and automatic temperature adjustments. The growing trend of organised retail and online shopping has made electric grills widely accessible. Leading players are investing heavily in new product development, incorporating smart features to cater to evolving consumer demands.
Market key trends
One of the key trends gaining traction in the Electric Grill Market Demand is the increasing demand for multi-cooking functionalities. Manufacturers are focusing on developing multi-functional grills that offer various cooking options like grilling, smoking, baking etc. This is compelling consumers to replace various traditional appliances with single multi-functional electric grill solutions. Moreover, the rise of connected kitchen appliances has prompted players to introduce smart electric grills that can be controlled remotely using mobile apps. This new technology enables consumers to monitor cooking progress and control grill functioning from anywhere.
Porter’s Analysis
Threat of new entrants: High initial costs and economies of scale are high barriers for new players.
Bargaining power of buyers: buyers have low bargaining power as there are many substitutes available at competitive prices.
Bargaining power of suppliers: Suppliers have moderate bargaining power as there are several component suppliers.
Threat of new substitutes: substitutes like gas grills and charcoal grills pose moderate threat.
Competitive rivalry: Market is very competitive with many international and domestic brands.
Geographical regions with highest market share in terms of value are North America and Europe. North America accounts for over 35% of global electric grill market owing to increasing outdoor cooking trend in countries like USA.
Asia Pacific electric grill market is expected to witness highest growth during the forecast period owing to rising urbanization, increase in disposable incomes and preference for convenience products in countries like China and India.