Global Slow Cooker Market 2017-2021
About Slow Cooker
A slow cooker is a countertop electrical cooking appliance that cooks at a low temperature with optimum cooking time. The global slow cooker market includes manual and automatic types of slow cookers. Based on the capacity, the product is segregated into 0-1 gallon and above 1 gallon capacity cookers.
Technavio’s analysts forecast the global Slow Cooker market to grow at a CAGR of 8.27% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global slow cooker market for 2017-2021. To calculate the market size, the report considers the retail sales value for the derivation of market size.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Slow Cooker Market 2017-2021
Technavio recognizes the following companies as the key players in the global slow cooker market: Breville Group Limited, Conair, Electrolux, Newell Brands, Spectrum Brands, and Whirlpool.
Other Prominent Vendors in the market are: Hamilton Beach Brands, Focus Products Group International, Fagor America, Morphy Richards, Tefal, and SharkNinja.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is smart slow cookers with wi-fi. The introduction of wireless connectivity in slow cookers has enabled them to be operated by tablets or smartphones. Through these devices, users can monitor and control the cooking temperature and time. This is an advancement in kitchen technology. Belkin, a prominent vendor, has introduced slow cookers integrated with automation technology. These wireless enabled cookers look identical to other slow cookers. They allow users to connect the slow cookers with any internet device.”
According to the report, one of the major drivers for this market is growing demand for slow cooked food. There was a boom in the usage of slow cookers during 1970-1980 when slow cookers were introduced in the US market. During that time, a slow cooker was commonly known as a crock-pot. Even in the 21st century, it is a popular name in the US market. Over the years, it got popular in other parts of the world. There was a rise in the sales of slow cookers during the period, due to a gradual increase in the number of working women. Thus, more than 40 companies started to manufacture their own brand of slow cookers. However, due to the introduction of microwave ovens, the slow cooker market started deteriorating.
Further, the report states that one of the major factors hindering the growth of this market is availability of microwave ovens. Microwave ovens are posing a challenge to the growth of slow cookers across the globe. Microwave ovens are bigger in structure, hold a larger quantity of food, and feature many cooking settings that permit users to cook a wide range of foods. The settings make it possible to roast a chicken, grill a steak, or bake a casserole. Also, they can instantly be preheated, which is helpful for baking cakes and other desserts. Convection cooking is considered ideal for preparing traditional meals. Therefore, consumers prefer convection microwave ovens over slow cookers.
Breville Group Limited, Conair, Electrolux, Newell Brands, Spectrum Brands, Whirlpool, Hamilton Beach Brands, Focus Products Group International, Fagor America, Morphy Richards, Tefal, and SharkNinja.