New York, United States , Jan. 13, 2023 (GLOBE NEWSWIRE) -- The Global Outdoor Kitchen Appliances Market Size to grow from USD 6.3 billion in 2021 to USD 10.12 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 8.3% during the forecast period. The market's growth is mostly attributed to shifts in consumer behaviour, social media fads, more disposable income, and an increase in outdoor living space preferences across the globe.
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Backyard camping has become a popular pastime for folks whose busy schedules prevent them from cooking at home. Due to customer demand, more people are buying outdoor grills to use for their weekend activities, which eventually boosts barbecue grill sales. The growing influence of various retailing channels is one of the key factors driving the growth of the global outdoor kitchen cabinets market. The expansion of the international market for outdoor kitchen cabinets is significantly impacted by the rising popularity of both online and offline retailing channels. The category of offline retailers also includes organised merchants including traditional storefronts, manufacturer-branded stores, discount stores, rental stores, warehouse clubs, and designer stores. Due to the increasing industrialization of the world, these organised stores have expanded in size and become one of the major global dealers and distributors of outdoor kitchen cabinets.
The prevalence of the Internet is rising worldwide, which has boosted e-commerce and online shopping's influence. Numerous important companies have either launched or are just about to do so for their new e-commerce furniture-focused websites. In an effort to pursue additional alternative retailing channels, major businesses in the global outdoor kitchen cabinets market have been emphasising on selling their products through a range of channels, including mobile apps. Planning and building a kitchen boosts a home's value in industrialised nations, which has sped up industry expansion in recent years. Additionally, it is projected that the growing spending of millennials and baby boomers on outdoor entertainment venues will encourage corporate growth. According to Rymer Strategies Company, 68% of millennials and 78% of baby boomers, respectively, are allegedly willing to spend more than USD 5,000 more for a beautiful outdoor living area. The expansion of hotels and eateries globally, rising household sizes in many nations, and rising consumer disposable income are all contributing to the market's expansion.
Browse 55 market data Tables and 57 Figures spread through 175 Pages and in-depth TOC on “Global Outdoor Kitchen Appliances Market Size, Share, and COVID-19 Impact Analysis, Outdoor Kitchen Appliances Market Size By Product (Cooking Fixtures, Refrigeration Units), By Application (Residential, Commercial), By Distribution Channel, by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030”
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Refrigeration unit to witness a rapid market growth over the forecast period.
Based on product, the global outdoor kitchen appliances market is segmented into Cooking Fixtures, Refrigeration Units. The refrigeration units segment is witnessing the fastest market growth over the forecast period. The market growth is anticipated to be accelerated by the growing use of refrigeration units to store food and both alcoholic and non-alcoholic drinks outside. In addition, although outdoor-rated goods can function in temperatures between 40 and 100 degrees, outdoor refrigeration systems work best in conditions between 60 and 80 degrees outside. Furthermore, it is projected that during the course of the projection period, growing spending on outdoor kitchen appliances would fuel industry expansion.
Commercial Segment is witnessing significant growth during the forecast period.
On the basis of application, the outdoor kitchen appliances market is segmented into residential and commercial. Among these, the commercial segment is witnessing the fastest market growth. The expansion of hotels, resorts, and eateries around the world is responsible for the segment's rise. Additionally, the market is being driven by the rising demand for takeout food brought on by busy work schedules. Due to consumers' growing desire in outdoor living spaces, hotels, bars, and restaurants are also building commercial BBQ areas and outdoor bars, which is propelling market expansion.
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Online segment to foresee a faster market growth.
On the basis of distribution channel, the global outdoor kitchen appliances market is segmented into offline and online. Among these, the online segment is witnessing the fastest market growth over the forecast period. This is explained by the growing global adoption of mobile, internet, and e-commerce platforms. Additionally, a significant growing element is the increase in customer demand for cooking appliances such gas grills, pizza ovens, smokers, and specialty grills via online sales channels. E-commerce services that put the needs of the client first and have effective delivery methods are likely to stimulate market expansion. Additionally, the internet channel segment is effectively responding to client inquiries to increase buyer satisfaction levels, which is accelerating market growth.
Asia Pacific region to witness a faster market growth over the forecast period.
Asia Pacific region is anticipated to witness the faster market growth. People are increasingly drawn to outdoor living spaces, which is boosting the market's expansion in this region because to factors like rising purchasing power and rising standards of living. Additionally, a growth in social events like house parties and family reunions can be linked to the increase in spending on home improvement. Additionally, the growing customer preference for cutting-edge and contemporary kitchens in Asia Pacific is anticipated to hasten industry growth.
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Key Vendors in Outdoor Kitchen Appliances Market: Weber-Stephen Products LLC, The Middleby Corporation, Napoleon, The Coleman Company Inc, NexGrill Industries, Inc., Weber-Stephen Products LLC, and The Middleby Corporation LLC, Traeger Pellet Grills, LLC, and Char-Broil LLC are some of the prominent companies in the market.
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