According to a newly published research analysis by Fact.MR, sales of residential electric grills in East Asia are projected to reach US$ 83.7 million in 2024. The market is anticipated to grow at a CAGR of 8.3%, reaching a valuation of US$ 185.9 million by the end of 2034.
In recent years, the market for residential electric grills in East Asia has witnessed significant growth, driven by urbanization, changing lifestyle trends, and increasing awareness of healthier cooking alternatives. The burgeoning middle-class population, particularly in countries like China, Japan, and South Korea, is contributing to the rising demand for convenient and efficient cooking appliances. This article delves into the factors propelling the market, the opportunities it presents, and the future outlook for residential electric grills in East Asia.
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Urbanization and Lifestyle Changes
One of the primary drivers of the residential electric grill market in East Asia is the rapid urbanization in the region. As more people migrate to urban centers, the demand for compact, efficient, and user-friendly kitchen appliances has surged. Urban dwellers often have limited kitchen space, making electric grills a practical choice due to their compact size and versatility. Unlike traditional grilling methods, electric grills do not require extensive ventilation systems, making them suitable for apartment living.
Key Companies Profiled
Zojirushi Corporation
Tiger Corporation
Panasonic Corporation
Tefal
Cuisinart
Philips
Market Segmentations
By Product : Built-in Electric Grills, Portable Electric Grills
By Pricing : Low (Below 50 US$), Medium (50 US$ to 100 US$), High (Above 100 US$)
By Application : Indoor, Outdoor
By Material : Plastic, Steel, Aluminum
By Power Rating : Below 5kW, 5 to 10 kW, Above 10kW
By Cooking Area : Under 200 Square Inches, 200 to 400 Square Inches
By Distribution Channel : Home Improvement Centers, Discount Department Stores, Hardware Stores, Warehouse Membership Clubs, Direct-to-consumer, Department Stores, Specialty Stores