
Report ID: SQSG30K2003
Report ID:
SQSG30K2003 |
Region:
Global |
Published Date: January, 2025
Pages:
165
|Tables:
91
|Figures:
75
Global Pressure Cooker Market size was valued at USD 4.9 billion in 2023 and is poised to grow from USD 5.25 billion in 2024 to USD 9.16 billion by 2032, growing at a CAGR of 7.2% during the forecast period (2025-2032).
The urban population's growing demand for a busy lifestyle is anticipated to boost the expansion. The use of gas and electricity, as well as pressure cookers, helps conserve the energy needed for cooking. In the near future, it is projected that these variables will have a beneficial impact on product demand.
Compared to other cooking methods, a pressure cooker can cut the cooking time by about 70%. It aids in the creation of complex, rich flavours while also preserving nutrients. It may also aid in gas and power conservation, depending on the kind. It is projected that consumer awareness of these benefits would increase demand for gas and electric pressure cooker goods, which will in turn propel pressure cooker market expansion in the near term.
The government's Pradhan Mantri Ujjwala Yojana, which has a budget of INR 12,800 crore designated for providing LPG connections throughout rural India, can also be blamed for the predicted rise in the industry for the upcoming years. The use of contemporary pressure cookers is projected to increase in the near future thanks to the various designs and advancements made by producers in the pressure cooker business.
US Pressure Cooker Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global Pressure Cooker Market is segmented by Product type, Types, Material, Capacity, Application, Distribution Channel and region. Based on Product type, the market is segmented into Electric Pressure Cookers, Stovetop Pressure Cookers and Multi-Function Pressure Cookers. Based on Types, the market is segmented into Single Purpose and Multi-Purpose. Based on Material, the market is segmented into Stainless Steel, Aluminum and Others. Based on Capacity, the market is segmented into Below 2 Liters, 2-5 Liters, and Above 5 Liters. Based on Application, the market is segmented into Household and Commercial. Based on Distribution Channel, the market is segmented into Offline and Online. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
In 2021, the stainless steel segment had the biggest market share, accounting for around 64 percent. Due to its durability, stainless steel is frequently utilised to make gas and electric pressure cookers. It lessens the likelihood that frequent overheating and cleaning may result in damage like scratches, stains, and rust. Additionally, it prevents the food from burning throughout the cooking process by not absorbing too much heat. In the near future, it is projected that the material's advantages will fuel the segment's expansion.
Due to the product's low cost, the aluminium segment is predicted to see the fastest CAGR between 2022 and 2028, at about 8.5 percent. Aluminum is a much more practical material for products transportation and is simple to carry while cooking. Additionally, because aluminium is such a good heat conductor, food cooks more quickly and evenly. Due to its small weight, the material is also excellent for industrial cooking. All of these elements are anticipated to increase product demand, which will then propel the pressure cooker market.
Because there are so many 3 to 5 size families worldwide, the 2 to 5 Iiters sector commands a significant market share. Most households with 3 to 5 people use earthenware pots with a volume of 2 to 5 litres. The Public Reference Bureau (PRB) published statistics information showing that, as of August 2021, the average number of household members worldwide was 4.0. Additionally, earthenware pots with a capacity of 2 to 5 litres primarily provide moderate functional and financial advantages. The 2-5 litres category dominates the pressure cooker market as a result of these considerations.
Crookery pots have a volume of 1-2 litres, which is sufficient for usage by single or two-person families. Due to the increase in single-person households around the world, the 1-2 litres sector is anticipated to rise more quickly. The number of single-person families in Europe increased by 21% between 2010 and 2020, according to the European Union.
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Due to rising output and consumption, which would spur regional acceptance of quick cooking techniques like pressure cookers, the Asian market will hold the greatest market share over the projection period. Sales in the industry are being further boosted by the rise in the adoption of innovative items. In the region, India is both the largest producer and consumer of pressure cookers.
Due to steps launched by the European Commission to promote the use of low and green emissive products, Europe is predicted to significantly develop during the projection period. Additionally, it is projected that customers' strong purchasing power will lead to an increase in sales of electric pressure cookers.
The increased demand for electric pressure cooking equipment in the United States and Canada, North America will make up a sizeable portion of the pressure cooker market. Additionally, elements like ongoing baking and cooking trends will extend the limits of the current industry expansion.
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To draw in a sizable customer base, the major market participants in the pressure cooker sector are concentrating on providing the most recent product lines. To occupy the largest possible market share, other techniques used include partnerships, mergers, and acquisitions, and the introduction of cutting-edge products. The competition is getting more intense due to the presence of major pressure cooker market players like Groupe SEB (Selongey, France), Corelle Brands LLC (Illinois, U.S.), Fissler GmbH (Idar-Oberstein, Germany), Midea Group (Foshan, China), National Presto Industries, Inc. (Wisconsin, U.S.), TTK Prestige Limited (Chennai, India), Hawkins Cookers Limited (Mumbai, India), Myer Pty Ltd. (Carlingford, Australia), Wisconsin Aluminum Foundry Co. (Wisconsin, U.S.), Conair Corporation (Connecticut, U.S.), Kuhn Rikon (Rikon, Switzerland). To maintain the escalating market competition, the market participants are implementing methods including increased R&D spending, mergers, acquisitions, and product developments.
Top Players in the Global Pressure Cooker Market
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, by material, the stainless steel sub-segment of had the biggest pressure cooker market share in 2021. By capacity segment, the 2 to 5 Iiters sub-segment dominated the market. Region-wise, North America dominated the global pressure cooker market in the year 2021.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 4.9 billion |
Market size value in 2032 | USD 9.16 billion |
Growth Rate | 7.2% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Pressure Cooker Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Pressure Cooker Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Pressure Cooker Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Pressure Cooker Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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