The global electric cookers market is anticipated to grow at a CAGR of 8.9% during the forecast period (2022-2028). Electric cookers are similar to pressure cookers that draw power from an electric source. The major factor attributing to the growth of the global electric cookers market is the increasing use of electric cookers due to the growing foodservice industry. According to an article published by the India Brand Equity Foundation (IBEF) in December 2021, the Indian food services industry is estimated to grow at a CAGR of 17%. The estimated size of the Indian food services industry is around $13.77 billion. Thus, increasing the demand for electric cookers.
The commercial use of electric cookers is also increasing in hotels & restaurants for food service due to the increasing number of hotels & restaurants across the globe. According to an article published by the National Restaurant Association in 2021, the estimated size of the global restaurant industry is around $799 billion in 2021 and giving employment to around 14.5 million people. Furthermore, according to an article published by Condor Ferries Ltd. in 2021, there are more than 7,00,000 hotels & resorts accounting for 16.4 million hotel rooms across the globe. The size of the global hotel industry is around $570 billion. Among these, China is the country with the greatest number of hotels with around 4,169 hotels. London & Dubai are the cities with the major number of 5-star hotels across the globe accounting for 65 hotels in London, and 61 hotels in Dubai. Thus, propelling the growth of the global electric cookers market.
Some major players in the market include Philips Corp., Panasonic Corp., Toshiba Corp., Hitachi Ltd., and Bajaj Electricals Ltd., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market.
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Competitive Landscape-
Philips Corp., Panasonic Corp., Toshiba Corp., Hitachi Ltd., Bajaj Electricals Ltd., among others.
By Type
Standard Electric Cookers
Multifunctional Electric Cookers
Induction-Based Electric Cookers
By Application
Household
Hotels & Restaurants
Others
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Scope of the Report
The research study analyzes the Global Electric Cookers industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Global Electric Cookers Market Report
1. What was the Global Electric Cookers Market size in 2019 and 2021; what are the estimated growth trends and market forecast (2022-2028).
- What will be the CAGR of Global Electric Cookers Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Global Electric Cookers Market was the market leader in 2021?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the Global Electric Cookers market.
- The market share of the Global Electric Cookers market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the Global Electric Cookers market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the Global Electric Cookers market.
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