Multicooker Market Segmentation, Analysis and Forecast 2020

Market outlook of global multicookers

Technavios market research analyst predicts the global multicooker market to reach a market value of over $743 million by the end of 2019. The key regions where multicooker adoption is the highest are North America and Europe. Consumers who preferred to eat in restaurants and food outlets, have developed a passion for cooking at home. This trend towards creating restaurant like food at home is propelling the market for electric kitchen appliances.

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The market is further strengthened by social media and digital advertising, which gives consumers exposure to new cooking and healthy living trends. With innovations in product offerings and extensive promotional campaigns, leading vendors such as Philips and DeLonghi are extensively investing in brand building activities which will further accelerate the demand for multi cookers during the forecast period.

What is a multicooker and why is it important.

A multicooker, which is an appliance that offers the consumers various advantages and features compared to conventional pressure cookers and slow cookers. . It can replace various appliances like stoves, ovens, steamers and yoghurt makers due to its multi-functionality. Another benefit of owning a multicooker is its energy saving capability. Unlike ovens which use around 10kW power, multicookers come with energy saving capabilities and use 0.8 to 0.9 kW electricity. Features like user-friendly LCDs, time-delay and yoghurt-maker function, and pre-programmed recipes are further attractive enhancements in multicookers. They formed nearly 3.5% of the small kitchen appliances market in 2014.

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Leading vendors would launch multicookers which will have wi-fi connectivity and will have the ability to be controlled though mobile apps. For instance, in...