Global Multi Cooker Market Report and Forecast 2024-2032

Global Multi Cooker Market Outlook

The global multi cooker market attained a value of USD 860.70 million in 2023. The market is further expected to witness a CAGR of 10.4% during the forecast period of 2024-2032 to reach USD 2,102.61 million by 2032.

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Based on the product type, the round multi cooker segment is anticipated to dominate the market over the forecast period. On the basis of the applications, the multi cookers are widely employed in homes, followed by restaurants and others. Based on the distribution channels, the electrical goods retailers accounted for the majority of the total market share. 

Regionally, North America held the major share in the global multi cooker market. The regional growth is accredited to the rising technological advancements along with the growing demand for automated products. Also, increasing research and development activities is likely to spur the market in the region.

Market Segmentation

Multi cooker is a modern electrical household appliance used for automated cooking. The essential parts of the multi cooker include an inner bowl, control panel, lid, temperature and pressure sensor, and condensate collector, among others. It is a multifunctional cooker that can be used to boil, roast, bake, steam, grill, stew, fry, and prepare yoghurt. They are widely used in households and commercial sectors on account of its convenient cooking options for users. Moreover, these cookers are equipped with pre-programmed user modes, which aids in the minimum monitoring requirement.

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Additionally, multi cookers also offer various health benefits as it uses less oil content in preparing food, which, in turn, helps in reducing the overall calories. On account of the factors mentioned above, multi cookers have gradually replaced many kitchen appliances such as microwave, oven, stove, deep fryer, pan, and bread-maker, among others. Besides, rising promotional campaigns, and increasing research and development activities are the factors projected to stimulate the industry growth over the assessment years.

The major product types in the global multi cooker market are:

• Round
• Cube
• Others

The industry can be broadly segregated on the basis of its application segment into:

• Restaurants
• Home Uses
• Others

Based on the distribution channel, the global multi cooker market is divided into:

• Electrical Goods Retailers
• Supermarkets/Hypermarkets
• Departmental Stores
• Homeware Stores
• Online

The EMR report looks into the regional markets in the global multi cooker market like North America, Europe, the Asia Pacific, the Middle East and Africa, and Latin America.

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Market Analysis

Rising health consciousness among consumers and increasing instances of obesity across the globe are the prime factors driving the growth of the global multi cooker market. Moreover, with the technological advancements and rising automation in various verticals, the consumer's preference is shifting from manual to electric appliances such as multi cooker. These cookers assist in preparing multiple food items in a limited amount of time with minimal effort, owing to which their sales are witnessing exponential growth across the globe. Furthermore, increasing electricity charges coupled with the surging need for energy saving is also providing a thrust to the industry growth. Owing to this benefit, it has emerged as a convenient alternative to appliances such as a microwave oven, which usually consumes a significant amount of energy. Rising disposable incomes, rising working population, and product innovations by the manufacturers are also expected to influence the market growth positively.

Competitive Landscape

The report gives a detailed analysis of the following key players in the global multi cooker market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Koninklijke Philips N.V.
• KitchenAid (Whirlpool Corporation)
• Breville, Inc.
• Tefal S.A.S
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report