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Residential Electric Grill Market Growth Strategies and Competition Background through 2019 to 2028

02-03-2020 01:47 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR

Residential Electric Grill Market Growth Strategies

The residential electric grill sales exceeded 3,200 thousand units in 2018, and are forecast to record a volume growth at 7.6% in 2019, according to a new Fact.MR study. The residential electric grill sales have been influenced by a slew of factors, which range from the trend of "going smokeless" for reducing the environmental footprint, to integration of connected technologies such as Bluetooth and Wi-Fi that enable remote monitoring. However, reluctance toward electric grills remains among consumers who hold authenticity of taste obtained from gas grills in greater regard. This Fact.MR study also offers an accurate forecast of the residential electric grill market for the period between 2019 and 2028. The residential electric grill market will record a volume CAGR of 8.0% through 2028.

Evolving requirements of consumers have led to introduction of a variety of residential electric grills, among which built-in and portable have been significant variants. The report states that built-in electric grills have been accounting for a larger share of the market, with over 6 in 10 of overall residential electric grills sold worldwide. Built-in electric grills have gained a remarkable popularity as preferred variant among residential buyers, with indoor as well as outdoor compatibility being a value-added offering of manufacturers. Although relatively less significant compared to built-in variants, portable electric grills will witness a steady rise in sales to surpass 800 thousand units in 2019.

North America Continues to Lead Residential Electric Grill Market

Promising future has been envisaged for the barbecue industry in North America, with approximately 30% of consumers witnessed to use grilling equipment, according to the Hearth, Patio & Barbecue Association (HBPA). Grilling activities continue to gain a remarkable significance in the region, as barbecuing witnesses a rise in popularity from being a mere leisure activity to a more integral part of the consumer lifestyle. As the passion for flavorful foods becomes a pervasive trend in the region, brighter future prospects are foreseen for the residential electric grill market in North America.

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The study states that nearly 70% of the consumers in North America owns grilling equipment, with 60% of Millennials stating grilling as their favorite summer activity. Additionally, approximately 35% of Millennials in the region have been witnessed to grill at home, thereby creating a lucrative consumer base for residential electric grills. The study further estimates majority of consumers in North America possess multiple accessories, alluding willingness of consumers to spend more on customized grilling experience.

Manufacturers Adopt Advanced Infrared Heating Technology to Attract Consumer Attention

Key players operating in the residential electric market are shifting their focus toward adoption of advanced infrared heating technology in their newer products, in a bid to attract more consumers and boost sales. As this heating technology has been associated with nearly 80% less smoke, along with minimized spattering, more and more residential electric grill will be integrated with advanced infrared technology in the upcoming years.

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The risk of carcinogens in the smoke produced grilling activities are offset by the residential electric grills, and with the advanced infrared technology enables curtailing such harmful impacts while retaining the taste authenticity sought-after by consumers. Leading players in the residential electric grill market are also focusing on developments to facilitate consumers in cleaning of the grills via offerings such as detachable parts, dishwasher proofing, and minimal spattering.

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About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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