Global BBQ Market Expected to Hit $7.96
USA, Rockville MD, 19 Jul. 2022 (GLOBE NEWSWIRE) — Fact.MR, a market research and competitive intelligence provider: The global barbecue market is expected to grow at a CAGR of 4.5% and reach a size of US$7.96 billion by 2032, according to detailed industry research by Fact.MR, a market research and competitive intelligence provider.
In the near future, changing lifestyles and the use of high-end items for indoor and outdoor cooking will lead to an increase in the demand for barbecue grilling systems.
Barbecues are gaining popularity in developing countries after gaining considerable market share in developed countries. This factor is driving the revenue of the global barbecue grills market. The increase in population, along with the rise in meat consumption, has driven up the value of the global barbecue grill market. Apart from meat consumption, a growing vegetarian population that consumes vegetarian grills is also propelling the share of the industry.
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Key Takemanners market research:
- The global barbecue market is expected to be valued at $5.12 billion in 2022.
- The North American market is expected to account for almost 27.6%, while the European market is expected to hold around 35.1% of the share during the forecast period of 2022 to 2032.
- The top three barbecue manufacturers are expected to generate a market share of approximately 40.7%.
- More than 50% of customers in North America say they prefer a barbecue for birthday parties, while 24% say the same for camping outings.
- US-based Char-Broil launched the SmartChef Smoker app to let people know about maintaining meat temperature, chamber temperature and cooking time.
The upward trend of barbecues on weekends and holidays, especially among young people, is expected to stimulate growth. Additionally, changing lifestyles coupled with the adoption of premium products for home and outdoor cooking activities are expected to drive the demand for the products in the near future.
Due to the existence of many international and regional companies, the barbecue market is very competitive. To strengthen their market position, major players are implementing various methods including product portfolio growth and regional development.
- With their high demand, product innovations such as the Tower T14028 Indoor/Outdoor Electric BBQ Grill stand out in the market.
- Recently, under the name of George Foreman Grills, Spectrum Brands, Inc. introduced the Grill & Broil, an electric grill consisting of five non-stick plates.
- The IntelliKEN Touch, which has features such as an integrated kitchen timer and a touch control system, was introduced by Kenyon International, Inc. in March 2019.
A non-stick grill plate is included with these state-of-the-art products and can be washed by hand or in the dishwasher. In addition, they eliminate the need to acquire gas cylinders, clean grease and light charcoal.
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Key Segments Covered by the Barbecues Industry Research
- The Barbecue Grill Market by Product:
- Gas BBQ Grills
- Charcoal barbecue grills
- Electric BBQ Grills
- Barbecue Grills Market by Application:
- Household BBQ Grills
- Commercial barbecue grills
- Barbecue market by region:
- North America
- Latin America
- East Asia
- South Asia and Oceania
Key points covered in Barbecue Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Analysis by segment, by country and by region
- Competitive Mapping and Benchmarking
- Market share analysis
- Recommendation on the main winning strategies
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Fact.MR, in its new offering, presents an unbiased analysis of the global barbecue market, presenting historical market data (2017-2021) and forecast statistics for the period 2022-2032.
The study reveals essential insights by product (gas, charcoal, electricity), by application (household, commercial) and by region (North America, LATAM, Europe, East Asia, South Asia and Oceania and MEA).
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