ELECTRIC GRILL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

The Electric Grill Market size is expected to reach US$ 7.72 billion by 2030, from US$ 4.53 billion in 2023, at a CAGR of 7.9% during the forecast period. Electric grills are cooking appliances that use electricity as the heating source to cook food. Electric grills provide quick, convenient and consistent cooking with adjustable temperature controls. The market growth is driven by factors like increasing demand for outdoor cooking, rising expenditure on smart kitchen appliances and growing popularity of barbecue culture.

The Electric Grill Market is segmented by type, power source, temperature control, material type, application, distribution channel and region. By type, the market is segmented into indoor, outdoor, hybrid, portable electric grills and others. The indoor electric grills segment accounts for the largest market share owing to their ease of use and suitability for small homes and apartments.

Electric Grill Market Regional Insights:

• North America is expected to be the largest market for Electric Grill Market during the forecast period, accounting for over 40% of the market share in 2022. The growth of the market in North America is attributed to the high demand for outdoor cooking appliances and backyard grilling culture in the region.
• Europe is expected to be the second-largest market for Electric Grill Market, accounting for over 30% of the market share in 2022. The growth of the market in is attributed to the rising expenditure on premium and innovative electric grills among European consumers.
• Asia Pacific is expected to be the fastest-growing market for Electric Grill Market, with a CAGR of over 6.5% during the forecast period. The growth of the market in Asia Pacific is attributed to the improving living standards and growing adoption of western lifestyle cooking habits.

Figure 1. Global Electric Grill Market Share (%), by Region, 2023

Electric Grill Market Drivers:

• Surging Popularity of Outdoor Cooking and Barbecuing: The rising popularity of outdoor cooking and backyard barbecuing is a major factor driving the growth of the electric grill market. With improving lifestyle and increasing disposable incomes, consumers are willing to invest in premium outdoor cooking appliances. Electric grills provide convenience and ease of cooking outdoors. The growing culture of hosting barbeque parties and cookouts among millennials is further fueling the demand for outdoor electric grills.
• Product Innovations and Technological Advancements: Key players in the electric grill market are constantly focusing on innovations and introducing advanced features and technologies in their product offerings. The launch of smart electric grills with Wi-Fi and app connectivity for remote monitoring and control has gained significant popularity among tech-savvy consumers. Other innovations include improved heating efficiency, precise temperature controls, and portable and compact designs. Such product innovations are attracting new consumers and driving market growth.
• Benefits such as Low Maintenance Costs: Electric grills are much easier to maintain compared to traditional charcoal or gas grills. Electric grills do not require gas cylinders or charcoal bags for fueling. The lack of messy ash residue also reduces cleaning efforts substantially. Low maintenance overhead is a critical factor spurring the adoption of electric grills among residential users. Furthermore, technological advancements have improved the durability and lifespan of electric grill components.
• Versatility in Cooking Applications: Modern electric grills are highly versatile appliances that can be used for grilling, roasting, braising, baking as well as indoor cooking purposes. The availability of interchangeable grill plates like griddle and BBQ plates further expands the cooking functionality of electric grills. This versatility and flexibility of cooking is attracting consumers from across demographics. Electric grills are being adopted for everyday meal preparation as well as outdoor cooking.

Electric Grill Market Opportunities:

• Increasing Adoption in Emerging Economies: Players in the electric grill market have significant opportunities in emerging economies across Asia Pacific, Middle East and Latin America. Rising disposable incomes, improving living standards and growing influence of western lifestyle cooking habits in these regions is attracting consumers towards electric grills. Market players can focus on competitive pricing and customization as per local consumer preferences.
• Rising Commercial Applications: From restaurants to hotels and cafes, the adoption of electric grills in commercial establishments is rising owing to benefits such as cost-efficiency, low maintenance and ease of use. Players can target the largely untapped potential in the commercial electric grill market through suitable product customizations catering to the specific needs of commercial usage.
• Growing Popularity of Indoor Grilling: Indoor electric grilling is gaining immense popularity among urban consumers living in apartments/condos due to space constraints and weather limitations of outdoor grilling. Players in the market can introduce more innovative indoor electric grills with varying designs, plate materials and smart technologies to appeal to this potential consumer base.
• Sustainable and Eco-friendly Product Offerings: With rising environmental awareness, the demand for eco-friendly and sustainable electric grill solutions is expected to rise among consumers. Manufacturers can gain a competitive edge by introducing electric grills made from recycled materials, using less hazardous coatings and adopting greener production/packaging processes. The adoption of energy-efficient technologies can also attract the eco-conscious urban consumers.

Electric Grill Market Trends:

• Integration of IoT and Smart Technologies: The electric grill market is witnessing rising integration of IoT and smart technologies such as Wi-Fi connectivity, app and voice control, touchscreens and inbuilt meat probes. These smart features enable remote monitoring, temperature control and provide recipe recommendations. Key players are partnering with tech companies to make their electric grill portfolio smarter and differentiated.
• Increasing Focus on Premium and Innovative Designs: Market leaders are introducing premium electric grills with visually appealing and highly functional designs to gain competitive differentiation. Some of the top design innovations include modular/convertible grills, rotating plates, inbuilt cutting boards, powerful air circulation and portable compact models. Consumers are willing to pay more for such value-added design benefits.
• Adoption of Advanced Heating Technologies: The growing adoption of advanced electric heating technologies such as infrared, induction and radiant heating provides quicker, uniform and fuel-efficient grilling. These technologies enable precise control over heating zones while retaining the natural juices and flavours. Integration of hybrid heating allows users to combine technologies for specialized cooking requirements.
• Usage of Safe and Durable Materials: The electric grill market is witnessing increasing usage of durable and advanced non-toxic materials for grill plates and bodies. Some of the commonly used materials include enameled cast iron, stainless steel, and ceramic glass. These materials offer excellent conductivity, stability at high temperatures and safe cooking. The adoption of chrome/titanium/ceramic coatings further minimizes the risky chemical exposures during grilling.

Electric Grill Market Restraints:

• High Costs Limit Adoption Among Price-Sensitive Consumers: Electric grills, especially advanced models with innovative features, can be considerably more expensive than standard gas or charcoal grill variants. These high costs limit the adoption of electric grills among value-conscious consumers mainly in developing economies and rural areas. Players need to introduce affordable models to tap into the price-sensitive user segments.
• Performance Limitations Relative to Charcoal Grilling: While rapidly improving, there is still a consumer perception that electric grills may not match the authentic smoky flavors and grilling experience delivered by traditional charcoal grilling. Charcoal grills can attain higher temperatures for better searing and use real wooden fire for genuine barbecue flavoring. Overcoming these performance limitations poses a key challenge for electric grill manufacturers.
• Safety Risks and Fire Hazards: There are some concerns regarding the potential fire hazards and risks associated with electrical malfunctions in electric grills. Faulty components, damaged cords and circuit overloading can lead to accidents while using electric grills. Ensuring product safety through design modifications and consumer education about proper usage practices is critical for long term market growth.

Recent Developments:

New product launches:

• In January 2022, Weber launched the new Genesis II Smart Gas Grill with built-in WiFi and app connectivity for remote monitoring and control.
• In March 2021, Char-Broil launched the new TRU-Infrared Electric Patio Bistro Grill for compact outdoor spaces and balconies.
• In August 2020, George Foreman introduced the new Portable Tailgate Electric Grill for barbeque on-the-go.

Acquisition and partnerships:

• In September 2021, Middleby acquired Traeger Grills to expand its outdoor cooking portfolio.
• In July 2020, Weber-Stephen Products was acquired by BDT Capital Partners to accelerate Weber's digital transformation.
• In May 2022, Hamilton Beach partnered with June Life Inc. to launch smart grilling and cooking products.

Figure 2. Global Electric Grill Market Share (%), by Type, 2023

Top companies in Electric Grill Market:

• 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
• Cuisinart

Definition: The Electric Grill Market refers to the global market for electric cooking grills used for barbequing, grilling and other outdoor cooking applications. Electric grills use electricity as the heating source and provide quick, convenient and consistent grilling with precise temperature control. The market comprises different types of electric grills such as indoor, outdoor, portable and hybrid grills with varying power sources, temperature controls, and grill plate materials. Key end-use sectors are residential and commercial establishments.

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