5-March-2019: The global smokehouse market size is anticipated to reach USD 157.2 million by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 2.2% during the forecast period. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth.
Key market participants have been focusing on innovation and new product development to manufacture environment-friendly components using latest technologies. Most manufactures have been focusing on electric grills to help reduce air pollution caused on account of burning charcoal and wood.
North America was the dominant region occupying over 35.0% of the revenue share in 2017. It is projected to account for a major share of the market over the forecast period on account of increasing popularity among young adults for cookouts.
Europe is expected to account for the second largest market share in 2017. In addition, the demand for portable products is expected to grow over the forecast period owing to increase in the number of family outings and picnics.
The smokehouse market is characterized by the presence of major companies as well as small- and medium-scale regional players. Some of the major players in the market engage in strategic developments to boost their sales and revenue by expanding their reach and providing customized services to customers.
Key players operating in the industry are The Weber-Stephen Products LLC, KitchenAid, Lynx Grills, and Viking Range Corporation among various others.
In depth research report on Smokehouse Market
Further key findings from the report suggest:
· Outdoor grills segment was valued at USD 76.3 million in 2017 and is expected to witness steady growth over the forecast period, on account of the rising trend toward cookouts and outdoor parties among the youth
· Electric grill segment is expected to expand at a CAGR of 2.2% from 2018 to 2025. Electric grills are cheaper than gas grills, can be used in both indoor and outdoor spaces, and are easy to clean. In addition, since these grills just need to be plugged in to be used, there are not many restrictions and regulations governing their safe use
· Europe was the second largest revenue generating region with USD 34.0 million in 2017 on account of technological advancements in manufacturing processes of the smokehouses coupled with the development and introduction of innovative products.
· Some of the key strategies adopted by industry participants include mergers and acquisitions and integrations across the value chain to strengthen their product portfolios and global distribution network
Grand View Research has segmented the global smokehouse market on the basis of type, product, and region:
Smokehouse Type Outlook (Revenue, USD Million, 2014 - 2025)
· Indoor
· Outdoor
Smokehouse Product Outlook (Revenue, USD Million, 2014 - 2025)
· Charcoal & Wood Grill
· Electric Grill
· Gas Grill
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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