Barbeque Grill Market to Exceed US$ 7.96 Billion by 2032 as Trend for Weekend Cookouts Gains Traction
Premium Gas Grills Makes Headway in Barbeque Grill Market through 2022 & Beyond
Fact.MR's latest study on the barbeque grill market provides a comprehensive outlook of drivers, challenges, trends, and opportunities prevailing in the industry. The study further divulges compelling insights into segments of the market in terms of product and application across six prominent regions.
NEW YORK, July 14, 2022 /PRNewswire/ -- The global barbeque grill market size is expected to reach US$ 7.96 Billion in 2032 and exhibit steady growth at a CAGR of 4.5% in the forecast period from 2022 to 2032. Increasing trend of cookouts on holidays and weekends, especially among millennials, is set to push demand.
As per a report by Fact.MR, the global barbeque grill market is projected to be valued at US$ 5.12 Billion in 2022. Rising adoption of premium products for outdoor and home cooking activities is likely to bode well for the global market.
Surging demand for stainless steel barbeque grills owing to their long lifespan and cost-effectiveness is another factor that would fuel growth. Besides, manufacturers are expected to offer one to 10-year warranty on the basis of the type of material of their in-house grills.
Premium barbeque grills are usually available with a lifetime burner warranty. On account of this, consumers are set to demand for high-end products equipped with innovative features such as pull-out tray, electronic igniters, and fuel gauge.
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Moreover, gas barbeque grills are anticipated to gain traction in the forthcoming years on the back of rising trend of backyard grilling. Gas grills run on either bottled propane or natural gas, which depends on utility providers.
Gas grills are capable of quickly firing up to initiate grilling activities. Rising demand for premium gas barbeque grills with features, including side burner for heating pots & pans, three to five burners, and stainless steel body, among the middle-class population is likely to accelerate growth.
Key Takeaways:
- North America barbeque grill market is projected to account for a share of nearly 27.6% in the forecast period (2022-2032).
- Top 3 barbeque grill manufacturers are anticipated to generate a market share of approximately 40.7% in the evaluation period.
- Europe barbeque grill market is likely to hold about 25.1% of share in the assessment period.
- The global barbeque grill market is set to reach a valuation of US$ 5.12 Billion in 2022.
- As per Fact.MR, the global barbeque grill market is estimated to showcase considerable growth at a CAGR of 4.5% from 2022 to 2032.
Growth Drivers:
- Availability of new barbeque grills with novel features, including fuel valves, portable gas grills, LED-light control, and heavy-duty grates is set to aid growth.
- High demand for natural gas-powered barbeque grills stoked by their ability to burn cleaner than propane and relatively low cost would drive growth.
Restraints:
- Though electric barbeque grills are energy efficient, the smoky grill flavor that one would get by using a gas grill may be missing.
- Gas grills require lots of space to use and these cannot be kept anywhere near any material that can catch fire.
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Competitive Landscape:
Leading players operating in the global barbeque grill market are focusing on new product launches and product innovations to attract a large consumer base. They are also aiming to collaborate with start-up firms to co-develop cutting-edge products by using the latter's technology. Meanwhile, some of the other companies are striving to gain high shares by engaging in mergers and acquisitions.
For instance,
- In November 2021, Kenyon International, Inc., a renowned indoor and outdoor grilling equipment manufacturer headquartered in Connecticut, introduced the G2 Grill. It was inspired by various unique features and uses sleek engineering. It also provides 35% more cooking surface, as compared to the company's other portable counterparts.
- In August 2021, BBQGuys, a prominent e-commerce retailer for outdoor living and grilling products based in the U.S., launched its new Victory line. The line debuts two new grills, namely, The Victory Pellet Grill and The Victory Gas Grill. The company aims to help consumers reimagine the expectation of affordability and quality for the entry-level grill market.
Key Companies Profiled by Fact.MR
- The Coleman Company Inc.
- Spectrum Brands, Inc.
- The Middleby Corporation LLC.
- Char-Broil LLC
- Kenmore
- Traeger
- LANDMANN
- Broilmaster
- FIRE MAGIC
- Weber-Stephen Barbecue Products India Private Limited
More Valuable Insights on Barbeque Grill Market
In the latest study, Fact.MR offers a detailed study on global barbeque grill market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of barbeque grill through detailed segmentation as follows:
By Product:
- Gas Barbeque Grills
- Charcoal Barbeque Grills
- Electric Barbeque Grills
By Application:
- Household Barbeque Grills
- Commercial Barbeque Grills
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Key Questions Covered in the Barbeque Grill Market Report
- What is the projected value of the barbeque grill market in 2022?
- At what rate will the global barbeque grill market grow until 2032?
- Which are the factors hampering the growth in the barbeque grill market?
- Which region is expected to lead in the global barbeque grill market during 2022-2032?
- Which are the factors driving the barbeque grill market during the forecast period?
- What is the expected market value of the barbeque grill market during the forecast period?
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