The global barbeque grill market is predicted to expand at a CAGR of 4.5% and reach a size of US$ 7.96 billion by 2032, as per detailed industry research by Fact.MR, a market research and competitive intelligence provider.
In the near future, changing lifestyles and the use of high-end items for indoor and outdoor cooking will drive higher demand for barbeque grilling systems.
Barbeque grills are gaining significant traction in developing countries after having a sizable market share in developed countries. This factor is boosting the worldwide barbeque grill market revenue. Increasing population, as well as rising meat consumption, has boosted the global barbeque grill market value. Aside from meat consumption, a growing vegetarian population that consumes vegetarian grill food is also propelling the industry share.
Key Takeways from the Market Study:
- The global barbeque grill market is projected to be valued at $5.12 billion dollars in 2022.
- The North American market is projected to account for nearly 27.6%, while the European market is likely to hold about 35.1% of the share in the forecast period of 2022 to 2032.
- The top three barbeque grill manufacturers are anticipated to generate a market share of approximately 40.7%.
- Over 50% of customers in North America say they prefer a barbeque for birthday celebrations, while 24% say the same about camping outings.
- S.-based Char-Broil introduced the SmartChef Smoker app to notify people about maintaining meat temperature, chamber temperature, and cooking time.
The rising trend of cookouts on weekends and holidays, especially among the younger population is expected to drive the growth. Furthermore, changing lifestyles coupled with the adoption of premium products for home and outdoor cooking activities is projected to boost the product demand in the near future.
“Market Suffering Due to Growing Preference for Fast Food & High Product Cost”
Competitive Landscape
Due to the existence of numerous international and regional companies, the market for barbeque grills is very competitive. To strengthen their position in the market, major players are implementing a variety of methods, including product portfolio growth and regional development.
- With their high demand, product innovations such as the Tower T14028 indoor/outdoor electric barbeque grill are standing out in the marketplace.
- Recently, under the name George Foreman Grills, Spectrum Brands, Inc. introduced the Grill & Broil, an electric grill comprising five non-stick plates.
- The IntelliKEN Touch, which has characteristics such as a built-in kitchen timer and touch control system, was introduced by Kenyon International, Inc. in March 2019.
