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The global electric grill market is prophesied to show impressive growth while riding on the changing lifestyle of people, availability of advanced and compact products with great durability, and other important growth drivers. The advent of smart cooking grills and increasing integration of sophisticated technology into cooking appliances, such as in the case of Bluetooth BBQ grill thermometer, could help manufacturers to cash in on some lucrative prospects in the electric grill business.
Availability of a range of innovative products in the global electric grill market is expected to lay a platform for strong growth in the coming years. In June 2019, McCormick, a US food company that produces spices, revealed a new BBQ grill with DJ mixing station – the SUMR HITS 5000.
Rising Trend of At-home Cooking for Leisure to Augment Demand for Electric Grill
Increasing inclination toward at-home cooking as a hobby or leisure-time activity and due to the benefit of healthy cooking and healthy eating is prophesied to strengthen the demand for electric grill. Rising interest in using electric grill, especially among young people, for outdoor cooking or cookouts is expected to augur well for the global electric grill market. High consumption of various types of exotic grilled foods is anticipated to create profitable opportunities for manufacturers. Key advantages of using electric grill such as convenience, easy portability, and low installation cost could help to attract more customers as their lifestyle becomes busier.
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Players to Launch Innovative and Technologically Advanced Products to Impress Customers
The global electric grill market witnesses the presence of top players such as Weber-Stephen Products LLC, The Middleby Corporation, Taylor Company, Roller Grill International, The Holland Grill Company Inc., Dimplex North America Limited, De’Longhi SpA, The Coleman Company, Inc., Midea Group., and RH Peterson Co. Innovation is one of the critical factors that differentiate most players in the global market. Manufacturers are foreseen to focus on introducing technologically advanced products with innovative features to keep customers interested. The Coleman Company and Weber-Stephen Products could be among leading players of the global market.
The Middleby Corporation is one of the key leaders of the global electric grill market. In June 2019, the company acquired Ss Brewtech, a manufacturer of high-quality stainless steel brewing equipment. For Q1 2019, it reported an overall net sales growth of 17.4% compared to the year-ago quarter. Its Commercial Foodservice Equipment Group attained a net sales increase of 27.1%, which was way more than that of its Residential Kitchen Equipment Group and Food Processing Equipment Group.
Among products, electric smokers are expected to collect a remarkable share of the global electric grill market. Advantages such as low maintenance and user-friendliness and benefits such as improved or smoky flavor of food are anticipated to push the demand for electric smokers. The commercial application segment is foretold to gain substantial market growth due to the growing use of electric grill in open events, hotels, and restaurants.
Researchers predict North America to take the lead in the global electric grill market because of the high interest in backyard cooking and barbecuing. Increasing demand for new food tastes and flavors could be another factor reflecting positively on the regional market. Asia Pacific is projected to register a faster CAGR owing to high consumption of street food, increasing adoption of outdoor grills, and growing consumption of grilled foods.
Why Players Need Pricing Analysis
QY Research is one of the top experts in the market research business, especially when it comes to pricing analysis. Analysts at QY Research take into account multiple factors ranging from weather to advertisement campaigns and access massive quantities of competitive and historical data to provide accurate pricing analysis. The report includes competitor pricing and product data as part of its pricing analysis, which is assumed to help players boost revenue, maintain better relations with suppliers, and improve sales. In addition, the pricing analysis is expected to assist players to optimize prices and gain appropriate value for their products.
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