Multicooker Market to Showcase Inferior Growth Due to the Increase in COVID-19 Spread | Technavio
LONDON--(BUSINESS WIRE)--Jan 21, 2021--
Technavio has been monitoring the multicooker market and it is poised to grow by USD 1.32 billion during 2021-2025, progressing at a CAGR of over 17% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210121006010/en/
Technavio has announced its latest market research report titled Global Multicooker Market 2021-2025 (Graphic: Technavio)
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries; however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the multicooker market. The market growth in 2021 is likely to increase compared to market growth in 2019.
Frequently Asked Questions:
- Based on segmentation by distribution channel, which is the leading segment in the market?
Offline is the leading segment in the market.
- What are the major trends in the market?
The product convenience and multiple functions enabling a better cooking experience are the major trends in the market.
- At what rate is the market projected to grow?
The market is projected to accelerate at a CAGR of over 17%.
- Who are the top players in the market?
Corelle Brands LLC, Glen Dimplex Group, Groupe SEB, Hamilton Beach Brands Holding Co., Koninklijke Philips NV, Newell Brands Inc., Panasonic Corp., REDMOND Industrial group, Spectrum Brands Holdings Inc., Whirlpool Corp. are the top players in the market.
- What are the key market drivers and challenges?
The market is driven by product innovation and portfolio extension leading to premiumization. However, the high existing penetration of traditional cookers in developing countries will challenge growth.
- How big is the North American market?
41% of the market’s growth will originate from North America during the forecast period.
Related Reports on Consumer Discretionary Include:
Global Commercial Beverage Blender Market– The commercial beverage blender market is segmented by end-user (JCB, restaurants, and others), geography (North America, Europe, APAC, South America, and MEA), control type (electronic controls and paddle or toggle controls), container material (plastic containers, stainless-steel containers, and glass containers), and key vendors. Click Here to Get an Exclusive Free Sample Report
Global Commercial Toaster Market– The commercial toaster market is segmented by product (commercial conveyor toaster and commercial pop-up toaster), geography (North America, Europe, APAC, South America, and MEA), and key vendors. Click Here to Get an Exclusive Free Sample Report
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Corelle Brands LLC, Glen Dimplex Group, Groupe SEB, Hamilton Beach Brands Holding Co., Koninklijke Philips NV, Newell Brands Inc., Panasonic Corp., REDMOND Industrial group, Spectrum Brands Holdings Inc., and Whirlpool Corp. are some of the major market participants. Although the product innovation and portfolio extension leading to premiumization will offer immense growth opportunities, factors such as the high existing penetration of traditional cookers in developing countries are likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this multicooker market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Multicooker Market 2021-2025: Segmentation
The multicooker market is segmented as below:
- Distribution Channel
- 5-6 Quarts
- Less Than 5 Quarts
- Greater Than 6 Quarts
- North America
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR46508
Multicooker Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The multicooker market report covers the following areas:
- Multicooker Market Size
- Multicooker Market Trends
- Multicooker Market Industry Analysis
This study identifies Product convenience and multiple functions enabling a better cooking experience as one of the prime reasons driving the multicooker market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Multicooker Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist multicooker market growth during the next five years
- Estimation of the multicooker market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the multicooker market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of multicooker market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020-2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Distribution channel
- Market segments
- Comparison by Distribution channel
- Offline - Market size and forecast 2020-2025
- Online - Market size and forecast 2020-2025
- Market opportunity by Distribution channel
Market Segmentation by Bowl capacity
- Market segments
- Comparison by Bowl capacity
- 5-6 quarts - Market size and forecast 2020-2025
- Less than 5 quarts - Market size and forecast 2020-2025
- Greater than 6 quarts - Market size and forecast 2020-2025
- Market opportunity by Bowl capacity
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- APAC - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Corelle Brands LLC
- Glen Dimplex Group
- Groupe SEB
- Hamilton Beach Brands Holding Co.
- Koninklijke Philips NV
- Newell Brands Inc.
- Panasonic Corp.
- REDMOND Industrial group
- Spectrum Brands Holdings Inc.
- Whirlpool Corp.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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 17,000 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210121006010/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
KEYWORD: UNITED KINGDOM EUROPE
INDUSTRY KEYWORD: ONLINE RETAIL RETAIL OTHER CONSUMER CONSUMER OTHER RETAIL HOME GOODS FOOD/BEVERAGE
Copyright Business Wire 2021.
PUB: 01/21/2021 09:04 PM/DISC: 01/21/2021 09:04 PM