Technavio, a tech-focused market research firm, has published a new report on the global slow cooker market, which is expected to grow at a CAGR of more than 8% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global slow cooker market into the following key regions: the Americas, APAC, Europe, and MEA.
Source: Technavio
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Top three contributors for the slow cooker market are elaborated below
Slow cooker market in the Americas: Increasing obesity rates, especially in the US and Canada, are encouraging people in the region to be more health conscious and adopt healthy lifestyle habits. As a result, there is an increase in the purchase of kitchen devices and appliances, as people prefer to cook healthy food at home instead of consuming outside food. Looking at the opportunities, key vendors in the market have introduced high-quality products catering to the consumer’s convenience and cooking experience.
According to Poonam Saini, a lead analyst at Technavio, specializing in research on retail goods and services, “American consumers are exposed to knowledge and information about kitchen appliances through TV shows and programs such as MasterChef and YouTube channels. Such channels and TV shows enhance the visibility of the appliances and latest innovations in the market. Thus, it is essential for vendors to collaborate with food companies and TV channels to ensure market growth.”
Slow cooker market in Europe: Western European countries like Germany, the UK, Portugal, and the Austria lead the growth of the slow cooker market in Europe. Product awareness, desire to purchase products, and the purchasing power of the customers are the key factors that fuel the adoption of slow cookers in the region. With the help of extensive marketing campaigns and geographical expansion, the market players are focusing on increasing the customer base. With more innovations in product features, the functions and design of slow cookers will continue to evolve during the forecast period, leading to the growth of the market.
Global slow cooker market in APAC: In APAC, Japan is a prominent market, followed by China and India. The demand for slow cookers will gain traction in the region during the forecast period. APAC is an emerging region and has low product penetration, brand equity, product awareness, and utility. Geographical expansion of international vendors in APAC is expected to spur an increase in the sales of slow cookers in the APAC region over the next four years.
The leading vendors operating in the global XX market are:
- Breville Group Limited
- Conair
- Electrolux
- Newell Brands
- Spectrum Brands
- Whirlpool
Other prominent vendors in the market include Hamilton Beach Brands, Focus Products Group International, Fagor America, Morphy Richards, Tefal, and SharkNinja.
A more detailed analysis is available in the Technavio report titled, ‘Global Slow Cooker Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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