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Outdoor Kitchen Appliances Global Market Report: Key Insights and Market Trends | 2024 To 2033 Key Players
Outdoor Kitchen Appliances Global Market Share
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According to The Business Research Company's, The outdoor kitchen appliances market size has grown strongly in recent years. It will grow from $6.33 billion in 2023 to $6.77 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increase in popularity of home renovations, increase in participation in outdoor activities, rise in trend of cookouts, and rise in disposable incomes..
The outdoor kitchen appliances market size is expected to see strong growth in the next few years. It will grow to $8.74 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to the rising number of hotels and restaurants, growing popularity of outdoor living spaces, an increasing population, and rapid urbanization. Major trends in the forecast period include premium products, and strategic partnerships and collaborations.
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Market Drivers and Trends:
Rising inclination towards outdoor parties and recreational activities is significantly contributing to the growth of the outdoor kitchen appliances market going forward. Outdoor parties and recreational activities are activities organized for entertainment that include social gatherings and family and friends gatherings. Outdoor kitchen appliances are helpful for cooking and are convenient for outdoor parties, as a result, the demand for outdoor kitchen appliances is increasing as more people are opting for outdoor recreational activities and outdoor parties in recent years. For instance, in January 2022, according to the Outdoor Industry Association report, a US-based membership-driven trade organization for the outdoor industry, the number of people attending outdoor parties increased by 2.2% in 2021 with 164.2 million participants, a 6.9% increase since March 2020. Therefore, a rising inclination towards outdoor parties and recreational activities drives the outdoor kitchen appliances market.
Product innovations have emerged as a key trend gaining popularity in the outdoor kitchen appliances market. Major companies operating in the cooking and kitchen appliances manufacturing sector are focused on developing new innovative products to strengthen their position in the market. For instance, in May 2021, RTA Outdoor Living, a US-based kitchen appliance manufacturer, introduced an innovative new modular outdoor kitchen system (MOKS) that allows customers to select designs and place ready-assembled outdoor kitchens. The key feature includes its patent-pending interlocking channels that allow for intuitive and quick assembly with no need for a contractor also includes cabinet panels and countertops that are light enough to be easily hand-carried.
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Major Key Players of the Market:
Camelot Group, International Game Technology Plc, The Hong Kong Jockey Club, Francaise des Jeux, Florida Lottery,North Carolina Lottery, Zeal Network, Lotto247, Lotto Direct, Lotto Agent, Dhankesari Lottery Sambad, Lottery Sambad Result, Takarakuji-official.jp, Ichiban Kuji Club, Lotterywest, Oz Lotteries, Baidu Inc, China Sports Lottery Operation and Management Co. Ltd., 360 Lottery, QQ Lottery, National Lottery, Jackpot.com, Betfred Lotto, Intralot SA, Française des Jeux (FDJ), EU Lotto Limited, Legacy Eight Curacao N.V., Wejdź do świata LOTTO, Megalotto, SYNOT W, a. s., Jackpocket, Mido Lotto, Prize Pool, Scientific Games Corp, Long Game, Linq3, EMIDA Technologies, Atlantic Lottery Corporation, GammaStack, Mega Sena, Quina, Lotofácil, Dupla Sena, NeoGames S.A., Emirates Draw, Mahzooz, BuyLottoOnline, Ithuba National Lottery, wow!lotto
Outdoor Kitchen Appliances Market 2024 Key Insights:
• The outdoor kitchen appliances market size is expected to see strong growth in the next few years. It will grow to $8.74 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
• Surge In Outdoor Recreational Activities Boosts Demand For Outdoor Kitchen Appliances
• Revolutionary Modular Outdoor Kitchen System Sparks Innovation In Appliance Market
• North America was the largest region in the outdoor kitchen appliances market in 2023
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