Multicooker Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, Germany, China, UK, France - Size and Forecast 2024-2028

Multicooker Market Size 2024-2028

The multicooker market size is forecast to increase by USD 3.91 billion, at a CAGR of 33.15% between 2023 and 2028.

• The market is driven by the trend toward product innovation and portfolio extension, leading to the premiumization of offerings. Manufacturers continue to introduce advanced features and functionalities, such as smart connectivity, to cater to kitchen appliances consumers' evolving needs and preferences. However, the high penetration of traditional cookers, particularly in developing countries, poses a significant challenge. Despite this obstacle, opportunities exist for companies to capitalize on the growing demand for convenience and technological advancements in food preparation.
• The integration of smart connectivity in multicookers represents a strategic move to attract tech-savvy consumers and differentiate offerings in a competitive landscape in smart kitchen appliances. Companies that successfully navigate these dynamics will be well-positioned to capture market share and drive growth in the market.

What will be the Size of the Multicooker Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market continues to evolve, with innovative features and applications driving its growth across various sectors. These versatile kitchen appliances, incorporating non-stick coating, rice cooker functionality, energy efficiency, and advanced safety features, cater to diverse consumer needs. Food allergies and dietary restrictions are addressed through customized cooking programs, while overheat protection ensures food safety. Yogurt makers and automatic shut-off mechanisms add convenience, as does voice control and a removable inner pot for easy cleaning. Price point remains a significant factor, with compact designs and delayed start options appealing to budget-conscious consumers. Slow cookers, sauté functions, and LCD displays further expand the multicooker's capabilities, making meal planning more efficient.

Kitchen appliances with user-friendly interfaces, recipe books, and recipe sharing enable healthier eating and brand reputation. Power consumption and touchscreen interfaces are essential considerations for smart kitchen appliances, integrating nutrition information and app connectivity. Safety features, such as stainless steel construction and pressure cooker safety valves, further enhance consumer trust. The home appliances market continues to adapt to evolving consumer preferences, with meal preparation and cooking automation at the forefront. Brand reputation, customer reviews, and pre-set recipes influence purchasing decisions, while connected devices and timer functions offer added value. Ceramic coating, delayed start, and automatic cooking programs cater to diverse cooking styles and dietary requirements.

The market's continuous dynamism ensures its relevance in modern kitchens, offering a comprehensive solution for healthy meal preparation and efficient cooking.

How is this Multicooker Industry segmented?

The multicooker industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Distribution Channel
  • Offline
  • Online
• Capacity
  • 5-6 quarts
  • Less than 5 quarts
  • Greater than 6 quarts
• Geography
  • North America
    • US
  • Europe
    • France
    • Germany
    • UK
  • APAC
    • China
  • Rest of World (ROW)

.

By Distribution Channel Insights

The offline segment is estimated to witness significant growth during the forecast period.

Multicookers, which incorporate features such as non-stick coating, rice cooker functionality, energy efficiency, and safety mechanisms for food allergies and dietary restrictions, have gained popularity in the US market. These versatile kitchen appliances offer additional functions like yogurt making, automatic shut-off, voice control, and delayed start for meal planning and preparation. The home appliances market is driven by consumers seeking convenience, healthy eating, and brand reputation. Retailers like Tesco Plc (Tesco), Walmart Inc. (Walmart), and Target Corp. (Target) dominate the offline distribution channel, selling multicookers in various sizes, packaging, and brands. companies employ promotional strategies, such as in-store signages and product discounts, to attract customers.

Walmart and Walgreens have long featured multicookers in their retail offerings. Safety features, including overheat protection and user-friendly interfaces, are essential considerations for consumers. Smart kitchen appliances with touchscreen interfaces, app integration, and cooking automation are emerging trends. Compact designs cater to limited kitchen space, while stainless steel construction and dishwasher-safe parts ensure ease of cleaning. Pre-set recipes and community features enable users to share recipes and connect with other multicooker owners. Energy efficiency and power consumption are crucial factors for environmentally-conscious consumers. LCD displays and timer functions provide convenience and precision during cooking. Multicookers offer a range of functions, including slow cooking, sautéing, and pressure cooking, making them an indispensable addition to modern kitchens.

The market continues to evolve, with companies focusing on improving functionality, design, and user experience to meet the evolving needs of consumers.

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The Offline segment was valued at USD 525.80 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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In the dynamic the market of 2023, North America holds the largest share, with the US being its most significant contributor. This region's market growth can be attributed to the increasing number of working women and their demand for time-efficient and effort-minimizing kitchen appliances. Leading companies, such as Spectrum Brands Holdings Inc., Breville USA Inc., and Hamilton Beach Brands Holding Co., capitalize on this trend. However, strong brand reputation plays a crucial role in market differentiation. Energy efficiency, food safety, and various cooking functions, including rice cooker, slow cooker, sauté, and pressure cooker, cater to diverse consumer needs, including food allergies, dietary restrictions, and meal planning.

Safety features like overheat protection, automatic shut-off, and removable inner pots further enhance the appeal. Smart kitchen appliances with touchscreen interfaces, app integration, and cooking automation are gaining popularity. Compact designs ensure easy storage, while easy cleaning and delayed start functions add to the convenience. The home appliances market continues to evolve, with a focus on healthy eating and user-friendly interfaces. Pre-set recipes, stainless steel construction, and dishwasher-safe parts further enhance the multicooker's value proposition.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of Multicooker Industry?

• Product innovation and portfolio extension, key strategies for businesses, contribute significantly to the premiumization trend in the market.

• Multifunctional electric cookers, or multicookers, are gaining popularity due to their advanced features and integrated technologies. These high-end appliances offer a range of functions, including pressure cooking, steaming, sautéing, and even baking, all in one device. The demand for multicookers is driven by their convenience and ability to simplify meal preparation. Companies differentiate their multicookers through add-on features and designs. For instance, some models come with pre-set recipes, digital control panels, and automatic cooking programs, making meal preparation easier and more efficient. Other features include stainless steel construction, ceramic coating, dishwasher-safe parts, and timer functions.
• Some multicookers are also compatible with connected devices, allowing users to control cooking remotely. Community features, such as recipe sharing and social media integration, further enhance the user experience. The market for multicookers is expected to grow as consumers seek more convenient and efficient ways to prepare meals at home. With their sleek designs and modern technologies, multicookers offer a harmonious blend of functionality and aesthetics, making them a worthwhile investment for home cooks.

What are the market trends shaping the Multicooker Industry?

• The integration of smart connectivity is becoming a significant trend in the market for multicookers. This technological advancement enables users to control and monitor cooking processes remotely, enhancing convenience and efficiency.

• Multicookers, which include rice cookers and yogurt makers with a non-stick coating, are gaining popularity due to their energy efficiency and versatility. These appliances cater to consumers with food allergies and dietary restrictions, offering convenience and safety features such as overheat protection and automatic shut-off. companies are focusing on technological advancements, with smart connectivity being a significant trend. Multicookers can be controlled and monitored through mobile apps using Wi-Fi and Bluetooth.
• Instant Pot, a brand of Corelle Brands LLC, offers a Bluetooth-enabled multi-functional electric cooker named Instant Pot Smart. This innovation aims to attract customers and expand market share. With the increasing demand for convenient and efficient cooking solutions, multicookers are becoming a preferred choice for modern kitchens.

What challenges does the Multicooker Industry face during its growth?

• In developing countries, the substantial market penetration of traditional cookers poses a significant challenge to the growth of the industry.

• Multicookers, a versatile kitchen appliance, offer features such as storage space, delayed start, keep warm function, and user-friendly interfaces, making meal planning more convenient. Food safety is ensured with these appliances as they maintain consistent cooking temperatures. Easy cleaning is another advantage, making them a preferred choice for busy households. Power consumption is a concern for some consumers, but multicookers generally consume less energy than traditional ovens or stovetops. Despite their benefits, multicookers have not yet gained significant penetration in some developing markets, particularly in Asia, Latin America, and Eastern Europe, due to the high prevalence of traditional cookers.
• In rice-consuming Asian countries, traditional cookers are deeply ingrained in cooking practices, being cost-effective and easy to use on LPG. However, as consumer preferences shift towards more convenient and time-saving cooking methods, multicookers are gaining traction. Multicookers come with recipe books and offer recipe sharing options, expanding the culinary possibilities for users. Their slow cook function allows for long, unattended cooking, perfect for busy schedules. The market for multicookers is expected to grow as consumers seek more efficient and versatile kitchen appliances.

Exclusive Customer Landscape

The multicooker market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the multicooker market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, multicooker market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

Aroma Housewares Co. - The company specializes in innovative multicooker solutions, featuring the Pro Plus 6-Quart Smart, Duo 6-Quart, and Duo 3-Quart Mini models.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Aroma Housewares Co.
• Breville Group Ltd.
• CHEFMAN
• Corelle Brands LLC
• De Longhi S.p.A
• Domu Brands Ltd.
• Glen Dimplex Group.
• Gourmia Inc.
• SEB Developpement SA
• Hamilton Beach Brands Holding Co.
• Hisense International Co. Ltd.
• John Mills Ltd.
• Koninklijke Philips N.V.
• Mueller Direct
• National Presto Industries Inc.
• Newell Brands Inc.
• Panasonic Holdings Corp.
• REDMOND Industrial group
• Robert Bosch GmbH
• SharkNinja Operating LLC
• Spectrum Brands Holdings Inc.
• Sunpentown International Inc.
• Tiger Corp.
• TTK Prestige Ltd.
• Whirlpool Corp.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Multicooker Market

• In February 2023, Instant Pot, a leading multicooker brand, introduced the Duo Nova 7-in-1 Electric Pressure Cooker, featuring a user-friendly interface and improved safety features, according to Instant Pot's press release. This new product launch caters to the growing demand for smart and convenient kitchen appliances.
• In May 2024, KitchenAid, a renowned kitchen appliance manufacturer, announced a strategic partnership with Google to integrate Google Assistant and Wi-Fi connectivity into their multicookers, as reported by CNET. This collaboration aims to enhance the user experience by enabling voice commands and remote control functionality.
• In October 2024, Ankarsrum, a Swedish appliance manufacturer, acquired the multicooker division of a leading European kitchen appliance company, according to a press release from Ankarsrum. This acquisition strengthens Ankarsrum's market position and broadens their product portfolio, providing them with a larger share of the European market.
• In January 2025, the European Union introduced new energy efficiency regulations for multicookers, as stated in a European Commission press release. These regulations aim to reduce energy consumption and carbon emissions, driving manufacturers to innovate and develop more energy-efficient multicookers.

Research Analyst Overview

• The market is experiencing significant growth, driven by the increasing popularity of high-pressure cooking and international cuisine. Consumers are increasingly seeking multifunctional cooking appliances that offer time management benefits and cater to diverse lifestyle choices. Product longevity is a key consideration, as is the ability to preserve food and cook efficiently using features like sous vide and induction heating. Smart Home integration, temperature control, and recipe databases are also important factors. Culinary expertise is not required, as many models come with measuring cups, cooking tips, and even steam release valves.
• Cookware compatibility, serving bowls, and energy monitoring are additional features that enhance the user experience. Cooking trends include slow cooking, meal costs, and culinary experimentation, making multicookers an attractive option for household budget-conscious consumers.

Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Multicooker Market insights. See full methodology.

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What are the Key Data Covered in this Multicooker Market Research and Growth Report?

• CAGR of the Multicooker industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the multicooker market growth of industry companies

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