A key factor driving the growth of the market is product innovation and portfolio extension leading to premiumization. Multifunctional electric cookers (also know as multicooker) with innovative features and functionalities are more expensive than the regular cookers. Such high-quality multipurpose cookers with integrated modern technologies witness high demand from customers. Moreover, portfolio extension by vendors also results in product premiumization.
This market research report on the global multicooker market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the integration of smart connectivity in multicookers as one of the key emerging trends in the global multicooker market:
Global multicooker market: Integration of smart connectivity in multicookers
Vendors in the multicooker market are focusing on development and continuous technological advancements in multicookers. One such trending innovation is smart connectivity in multicookers through a wireless connection (such as Wi-Fi and Bluetooth). Such smart multicookers can be controlled and monitored through installed mobile apps in smart gadgets such as tablets and smartphones. These smart cookers not only offer convenience to the customers but also saves space in the kitchen as it eliminates the requirement of purchasing separate kitchen appliances.
“While some vendors are still installing smart connectivity in their products, certain vendors like Instant Pot, a brand of Instant Brands, are already offering a Bluetooth-enabled multifunctional electric cooker named Instant Pot Smart. This appliance can be connected using Bluetooth for easy controlling and monitoring using smart gadgets like smartphone or tablets,” says a senior analyst at Technavio for research on home, kitchen, and large appliances.
Global multicooker market: Segmentation analysis
This market research report segments the global multicooker market by bowl capacity (bowl capacity 5-6 quarts, bowl capacity greater than 6 quarts, and bowl capacity less than 5 quarts), by distribution channel (online and offline distribution), and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of more than 52%. The majority of the market share was mostly from the US, Canada, and Mexico. The region is expected to continue to dominate the market with a share of 58% by 2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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