May 22, 2024
Electric Grill Market

The Global Electric Grill Market Is Driven By Growing Preference For Convenient Cooking

The electric grill is a kitchen appliance used for grilling or barbecuing food using indirect or direct heat without using charcoal or gas. It uses electric heating elements, usually varying in temperature, to cook food. Electric grills offer convenience due to its ease of use as they can be used both indoors and outdoors. It eliminates the need for maintaining gas tanks or dealing with ash and smoke generated during cooking on charcoal or gas grills. Electric grills enable cooking of a variety of foods from meat, seafood, vegetables to desserts. They come in different sizes and the compact designs make them space efficient for small kitchens or apartments.

The global Electric Grill Market is estimated to be valued at US$ 5.22 Mn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One major trend gaining popularity in the Global electric grill market size is the rising demand for multi cook systems. Traditional electric grills only offered grilling function but new innovative models are launching that allow various cooking methods like smoking, searing, baking, and roasting. For instance, Cuisinart GR-4N 5-in-1 Griddler allows cooking food as a contact grill, panini press, griddle, and more. Another key trend is the growth in popularity of portable electric grills. Portable electric grills are gaining traction among outdoor enthusiasts, picnickers and travelers as they are lightweight and compact to be carried anywhere. Manufacturers are launching portable grills in innovative designs with adjustable temperature settings and removable plates for easy cleaning. Advancements in technology are also spurring new product launches with features like Wi-Fi connectivity, automatic temperature control, and grillingpreset options controlled via mobile apps.

Porter’s Analysis

Threat of new entrants: The electric grill market has moderate threat of new entrants due to established brands and requirement of significant investment and technical expertise.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes like gas grills and charcoal grills.
Bargaining power of suppliers: A few major suppliers exist for raw materials like steel and electronics leading to moderate bargaining power.
Threat of new substitutes: Low threat as electric grills offer convenience of use indoors without emissions making it unique.
Competitive rivalry: Intense competition exists among key players to gain market share through product innovations, branding and promotion.

Key Takeaways

The global electric grill market is expected to witness high growth. The global Electric Grill Market is estimated to be valued at US$ 5.22 Mn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031.

Regional analysis: North America dominated over 40% market share in 2021 owing to rising disposable income and preference for outdoor cooking among population. Europe and Asia Pacific are fastest growing regions during forecast period due to rising living standards.

Key players analysis: Key players operating in the electric grill market are Medtronic, DePuy Synthes, Stryker Corporation, NuVasive Inc., Globus Medical Inc. Medtronic leads the electric grill devices market with wide product portfolio for spine treatments.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it