Technavio analysts forecast the global electric container cook pots market to grow at a CAGR of close to 10% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global electric container cook pots market for the period 2018-2022. (Graphic: Business Wire)
The integration of smart connectivity is one of the major trends being witnessed in the global electric container cook pots market 2018-2022. One of the trending innovations in the field of electric container cook pots is smart connectivity using Wi-Fi and Bluetooth. Such smart electric container cook pots are controlled and monitored through mobile apps, installed on smart gadgets.
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According to Technavio analysts, one of the key factors contributing to the growth of the global electric container cook pots market is the convenience and multiple functions:
Global electric container cook pots market: Convenience and multiple functions
Ease of use, portability, and convenience are the three pillars of innovation that vendors try implementing in their products while studying consumer behavior.
According to a senior analyst at Technavio, “Owing to hectic lifestyles, increasing number of nuclear families, and the growing working population, consumers need products that are easy to use and portable, efficient, and convenient. Multicookers have multiple functions such as slow cooking, fast cooking, brown/sauté, steam, frying, and baking. They allow cooking at different temperature ranges as per requirement.”
Global electric container cook pots market: Segmentation analysis
The global electric container cook pots market research report provides market segmentation by product (rice cookers, slow cookers, and multicookers), by distribution channels (online and offline), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major products, including rice cookers, slow cookers, and multicookers, the rice cooker segment held the largest market share in 2017, contributing to close to 67% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2017, accounting for close to 39% share, followed by EMEA and APAC respectively. The region is expected to continue to dominate the market during the forecast period.
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Some of the key topics covered in the report include:
Five Forces Analysis
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