We bring years of research experience to this 8th edition of our report. The 150-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global Multicooker Market to Reach $3.9 Billion by 2027
Amid the COVID-19 crisis, the global market for Multicooker estimated at US$1.1 Billion in the year 2020, is projected to reach a revised size of US$3.9 Billion by 2027, growing at a CAGR of 19.8% over the analysis period 2020-2027.
Less Than 5 Quarts, one of the segments analyzed in the report, is projected to record a 20.5% CAGR and reach US$1.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the 5-6 Quarts segment is readjusted to a revised 21.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $297 Million, While China is Forecast to Grow at 25% CAGR
The Multicooker market in the U.S. is estimated at US$297 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$922 Million by the year 2027 trailing a CAGR of 25% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 15.5% and 18.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 17% CAGR.
Greater Than 6 Quarts Segment to Record 17.3% CAGR
In the global Greater Than 6 Quarts segment, USA, Canada, Japan, China and Europe will drive the 16.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$267.4 Million in the year 2020 will reach a projected size of US$785.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$573.8 Million by the year 2027, while Latin America will expand at a 18.6% CAGR through the analysis period.
Competitors identified in this market include, among others: