Market Segmentation
Rising trend of food away from home is building a lucrative growth opportunity for restaurants and eating joints to propel in the market. These rising number of eating places are developing the need for barbeque grill in their kitchen for fast food processing and servicing to its customers. The growing trend of eating outside and spending more on food is likely to increase the adoption of barbeque grills in the coming years. The growth in the restaurant industry mainly driven by customer’s desire for convenience, socialization, and high-quality food and service have influenced owners of the restaurants to invest in a modern and quality cooking appliance. According to National Restaurant Association, there were over 1 million restaurant locations in the U.S. in 2019 and the industry revenue is projected to reach USD 899 billion in 2020. Moreover, increasing growth of Quick Service Restaurants (QSR) leading to convenience of meal options at fast delivery times is also generating greater demand for cooking appliances such as fryers, grills, and cooking tops. According to a QSR Report, the Quick Service Restaurant (QSR) generated revenue gains of USD 256 billion in 2018, witnessing a 3.8% growth. For instance, McDonald’s is the leading quick service restaurant in the U.S. as well as Australia.
High visibility of grill oven in developed countries such as the U.S., the UK, and Germany is expected to hamper the adoption of barbeque grill among residential consumers. Moreover, grill oven can be used for various other purposes such as baking and steam. Surging demand for frozen & pre-cooked ready-to-eat food, changing eating preferences & lifestyles, and rising disposable income of consumers are among the key factors fueling the adoption of ovens. Furthermore, increasing launch of grill oven with innovative technologies has resulted in driving the demand for grill ovens. Market players are increasingly integrating appliances with Internet of Things (IoT) platform. Smart kitchen appliances operate remotely and wirelessly in real time through mobile and desktop applications. Also, with rising awareness about energy conservation, manufacturers are focused on developing energy efficient products that are energy star rated. Widening base of working-class population is likely to drive the demand for grill oven. Key market players are estimated to offer novel and innovative products such as ovens equipped with auto program and easy control panels to enhance their usability and cater to the changing demand of consumers. Consumers focus more on buying new and innovative home appliances such as ovens that are equipped with varied advanced features. Such factors are expected to hamper the growth of barbeque grill over the forecast period.
Increasing prominence of outdoor living areas in U.S. households has gathered greater attention toward outdoor kitchen and cooking. Americans are increasingly indulging in backyard outdoor living, which encourages them to enhance their culinary skills. Advanced appliances have created ample growth opportunities for new market entrants as well as established industry participants. India has emerged as a highly lucrative destination for the new players planning to establish their manufacturing facilities, owing to the rapidly growing demand from consumers as well as the availability of skilled manufacturing and R&D engineers across the region. Increased spending towards outside food with an intent of seeking variety of options and multiple cuisines is adding towards investment in high-end cooking appliances including barbeque grill. According to National Restaurant Association, average household expenditure for food away from home is USD 3,459 in 2018 in western regions. Thus, rising number of commercial constructions particularly hotels, restaurants, and food-joints are leveraging on the growth prospects for barbeque grill market. Furthermore, growing construction of green buildings to reduce negative impacts on climate by over-consumption of energy has influenced manufacturers to introduce appliances with ENERGY STAR rating which implies energy efficiency. Globally, green building projects has grown substantially in last 10 year and are expected to witness steady growth in upcoming years. Over the past few years, government bodies in countries such as the U.S., Ireland, Australia, Brazil, and China have been initiating and promoting energy efficient products in order to reduce overall carbon emission and energy consumption. Thus, market witnesses lucrative growth opportunities for various cooking appliances such as fryers, grills, ovens, and electric cooktops to be energy efficient thereby attracting huge application of the product.
This section will provide insights into the contents included in this barbeque grill market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
Company overview
Financial performance
Product benchmarking
Latest strategic developments
Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance