Global Multicooker Market 2018-2022| 25% CAGR Projection Over the Next Four Years| Technavio

Technavio has published a new market research report on the global multicooker market from 2018-2022. (Graphic: Business Wire)

LONDON--()--The global multicooker market 2018-2022 is expected to post a CAGR of close to 25% during the forecast period, according to the latest market research report by Technavio.

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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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market sizing
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The global multicooker market 2018-2022 is set to post a CAGR of almost 25% during the forecast period, according to the latest report by Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com