The global barbeque grill market size is expected to register a revenue of USD 6.50 Billion from 2019 to 2025, according to a new report by Million Insights. It is expected to grow with a 4.5% CAGR in upcoming years. Rising preference for outdoor cookouts on holidays and weekends amongst millennial coupled with rising willingness among the working population to spend on such premium products for indoor and outdoor cooking is expected to fuel the market demand.
The product segment of electric grills is anticipated to register the fastest CAGR of 5.6% from 2019 to 2025.This can be attributed to convenience offered by these products for preparation of grilled food items. The gas product segment held the largest market share across the global BBQ grill market. Rising usage of natural gas or propane is expected to boost the market growth for this product segment.
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The commercial application generated revenue of USD 2.66 Billion in 2018. Rising popularity of eating at BBQ restaurants across developing countries like China, India, and Brazil are expected to drive market growth. Moreover, activities like trekking and camping are also expected to boost the demand for such grills.The household segment is anticipated to witness a CAGR of 4.8% during the forecasted period, 2019 to 2025. The use of portable, flat top and single burner products among the customers is expected to boost the market growth.
North America held the largest share in around 55% across the global barbeque grill market during 2018. This growth can be attributed to the rising consumption of grilled food items across countries like Canada and the U.S. Asia Pacific region is expected to witness the highest CAGR of 5.6% during the forecasted period, 2019 to 2025. This growth can be attributed to the increasing consumption of street food among the consumers.
The key players in this market are Spectrum Brands, Inc.; The Coleman Company Inc.; Kenmore; Char-Broil LLC; LANDMANN; Traeger; FIRE MAGIC and Broilmaster. They are constantly engaged in product development and technological advances in their products to boost sales.
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Further key findings from the report suggest:
• In 2018, the gas product segment held a revenue share of USD 2.67 billion.
• The household segment is anticipated to witness a CAGR of 4.8% during the forecast period.
• The commercial application segment held the largest share in the global barbeque grill market with revenue of USD 2.66 billion.
• Asia Pacific is anticipated to witness the highest CAGR of 5.6% during the forecast period, 2019 to 2025.
Million Insights has segmented the global barbeque grill market on the basis of product, application and region:
Barbeque Grill Product Outlook (Revenue, USD Million, 2015 – 2025)
Barbeque Grill Application Outlook (Revenue, USD Million, 2015 – 2025)
Barbeque Grill Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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