Product ID: SQSG30K2003
Global Pressure Cooker Market Size, Share, Growth Analysis, By Material(Aluminum, Brass), By Capacity(1-2 Litres, 2-5 Litres), By Application(Household, Commercial) - Industry Forecast 2024-2031
Report ID:
SQSG30K2003 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
91 |
Figures:
75
Global Pressure Cooker Market Insights
Pressure Cooker Market size was valued at USD 4.57 billion in 2019 and is poised to grow from USD 4.9 billion in 2023 to USD 9.16 billion by 2031, growing at a CAGR of 7.2% in the forecast period (2024-2031).
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 Segmental Analysis
The global pressure cooker market is segmented based on material, capacity, application, and region. Based on region Pressure Cooker Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Pressure Cooker Market Analysis by Material
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.
Pressure Cooker Market Analysis by Capacity
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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Global Pressure Cooker Market Regional Insights
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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Global Pressure Cooker Market Dynamics
Pressure Cooker Market Driver
- During the projected period, the pressure cooker market will grow at a faster rate due to favourable regulatory and governmental policies supporting increased sales of clean cooking solutions and technological advancements.
- Additionally, the abundance of instructional materials that are available online and with every purchase will contribute to the market's expansion. The availability of tools at consumers' steady disposal and increased consumer interest in discovering new recipes are factors that will expand the pressure cooker industry.
Pressure Cooker Market Restraint
- One of the main drawbacks of pressure cooking is that users are unable to monitor the progress of the cooking process. The meal is commonly described as soggy and overdone by several users. To ensure that the holder could seal properly and produce pressure, the sealing ring must also be in acceptable condition. These elements may affect the pressure cooker market's sales.
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Global Pressure Cooker Market Competitive Landscape
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
- Instant Brands Inc.
- Conair Corporation
- Newell Brands Inc.
- TTK Prestige Limited
- Fissler GmbH
- Hawkins Cookers Limited
- Meyer Corporation
- Magefesa S.A.
- Manttra Inc.
- Silit-Werke GmbH & Co. KG
- Groupe SEB USA
- Breville Group Limited
- Vita Craft Corporation
- Kuhn Rikon
- WMF AG
- Tefal SAS
- Cuisinart
- Fagor America Inc.
- Lagostina S.p.A.
Pressure Cooker Market Recent Developments
- VitaQuick pressure cookers with a metallic finish and a variety of capacities were introduced by Fissler. Fissler's revolutionary method allows for rapid roasting and energy savings. Mealthy Inc., a small manufacturer of kitchen appliances, was acquired by MVP Holdings Inc. With the acquisition, MVP will have access to a wider customer base and a better selection of products.
Global Pressure Cooker Key Market Trends
- Players on the pressure cooker market are investing in R&D initiatives and the introduction of cutting-edge technologies based on cooking techniques and materials to meet the rising demand for nontoxic pressure cookers. Pressure cookers covered in hard anodized ceramic and aluminium, among other materials, are in greater demand, according to market participants.
- When compared to their stovetop equivalents, electric pressure cookers are a better choice. The electric product's cutting-edge technology automatically turns off the pressure button. While saving energy, it also prevents the food from burning.
- When compared to traditional cooking techniques like boiling and steaming, pressure cookers conserve important nutrients, according to several renowned chefs. The market growth for pressure cookers is anticipated to be influenced favourably by these variables.
Global Pressure Cooker Market SkyQuest Analysis
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 4.57 billion |
| Market size value in 2031 | USD 9.16 billion |
| Growth Rate | 7.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Pressure Cooker Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Pressure Cooker Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global 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 Global 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 Global Pressure Cooker Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global 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.
Global Pressure Cooker Market Report Snapshots
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