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North America Multi Cooker Market to Reach US$ 541.15 Million by 2027, Supported by Increasing Electricity Charges

Published on Nov 07, 2022

The latest report by IMARC Group, titled “North America Multi Cooker Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the North America multi cooker market size reached US$ 325.91 Million in 2021. A multi-cooker is a modern electric device used for automatic cooking. It consists of numerous components, including the inner bowl, lid, control panel, condensate collector, temperature, and pressure sensors. It offers multiple health benefits as it reduces overall calories by using less oil in food preparation. It is commonly used in residential and commercial settings for boiling, simmering, baking, frying, grilling, roasting, and steaming. It is multifunctional and can serve various purposes of different kitchen appliances, such as bread-maker, oven, deep fryer, and microwave. It includes pre-programmed user modes that provide consumers with convenient cooking options. Since it requires minimal monitoring and can cook an entire meal in relatively less time, the multi-cooker is gaining immense traction in North America. 

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.  

North America Multi Cooker Market Trends:

In North America, the increasing need for new cooking and healthy living practices due to the rising prevalence of chronic diseases across the region represents the primary factor driving the market growth. Moreover, the escalating demand for automated products such as multi-cookers and rising technological advancements are positively influencing market growth. Additionally, the shifting consumer preferences from manual to electric kitchen appliances, as they aid in preparing multiple food items in a limited amount of time with minimal effort, is another major growth-inducing factor. Besides this, the rising electricity prices and the increasing concerns regarding energy conservation have accelerated the product adoption rate as multi-cookers help save energy by reducing cooking time and power consumption. In addition, inflating consumer disposable incomes and improving living standards are contributing to market growth. Along with this, the shifting inclination of individuals toward modular kitchens and the escalating demand for attractive and innovative kitchen appliances have catalyzed market growth. Furthermore, heavy investments in research and development (R&D) activities by key players to introduce innovative products, such as smart Bluetooth-enabled multifunctional pressure cookers, and expand their customer base have propelled the market growth. Other factors, including increasing health consciousness, growing adoption of homecooked meals, numerous product innovations, surging instances of obesity, and the rising working population, are also anticipated to create a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 541.15 Million by 2027, expanding at a CAGR of 9% during 2022-2027.

Market Summary:

  • On the basis of the product type, the market has been divided into round, cube, and others.
  • Based on the application, the market has been segregated into restaurants, home uses, and others. 
  • The market has been classified based on the distribution channel into electrical goods retailers, supermarkets/hypermarkets, departmental stores, homeware stores, online stores, and others. 
  • Country-wise, the market has been segmented into the United States and Canada. 
  • The competitive landscape of the market has also been analyzed, along with detailed profiles of the key players operating in the industry.    
     

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