$1.1 Billion Worldwide Multicooker Industry to 2027 - Impact of COVID-19 on the Market

News provided by

Oct 29, 2020, 16:30 ET

DUBLIN, Oct. 29, 2020 /PRNewswire/ -- The "Multicooker - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

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:

Groupe SEB
Instant Brands Inc. (Instant Pot)
Newell Brands
Spectrum Brands Holdings, Inc.
Whirlpool Corporation

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Global Competitor Market Shares
Multicooker Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

Total Companies Profiled: 46

For more information about this report visit https://www.researchandmarkets.com/r/4cbay1

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets