Europe Smart Cooker Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 7.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Smart Cooker Market Analysis
Europe Smart Cooker Market is poised to grow at a CAGR of 7% during the forecast period.
Sales prospects of smart cookers were largely unaffected by COVID-19. Despite the rigorous implementation of prohibitions on industrial and logistical operations, growth was observed in the market in 2019. At the peak of the pandemic, consumers' growing concerns for the environment encouraged them to spend money on efficient and intelligent equipment, leading to the purchase of smart cookers.
IoT-enabled appliances known as "smart cookers" are largely used in household and hospitality kitchens. Users can now remotely operate and control smart appliances and devices using smartphones and tablets owing to the integration of Bluetooth and Wi-Fi. With a primary focus on increasing efficiency in the kitchen and minimizing the time spent cleaning and cooking, the adoption of smart homes has substantially altered the kitchen scene.
Cookers are frequently used by people to meet their daily food needs. The demand for such products is primarily influenced by pot capacity, design material, and cooking time. Modern hotel chefs and housekeepers are turning to multifunctional kitchen appliances to prepare meals quickly. As a result, well-known manufacturers are concentrating on providing multifunctional gadgets to fulfill these diverse client needs.
Europe Smart Cooker Market Trends
This section covers the major market trends shaping the Europe Smart Cooker Market according to our research experts:
Boom in Smart Homes and Smart Kitchens are Driving the Market
In Europe, smart cookers and kitchen appliances are steadily increasing due to rapid urbanization and customers' busy schedules. Growing consumer awareness about a healthy diet and nutrition is another factor boosting the sector's revenue, particularly during the pandemic. Users can choose a recipe to be cooked at certain temperatures using smart modular kitchens and smart home technologies. In Europe, the household penetration rate increased from 3.8% in 2020 to 6.3% in 2022, which is a fairly significant increase.
Technological Advancement is Supporting the Growth of the Market
Technological advancements, such as near-field communication (NFC), Wi-Fi, and other technologies, are being incorporated into smart kitchen appliances. The Wi-Fi segment had a much higher revenue share in 2021. Remote accessibility enables control of many features, including preheating, temperature regulation, and settling timer. The main reason driving the growth of this market is the rising usage of smart devices, including smartphones, smart locks, smart watches, and smart bands, as well as their interconnection. Built-in ovens, microwaves, and free-standing cookers were all exchanged in 2020 for about USD 12.5 million, USD 6.6 million, and USD 4.9 million, respectively, in Europe.
Europe Smart Cooker Industry Overview
The report covers major players operating in the European smart cooker market. In terms of market share, few major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets.
Europe Smart Cooker Market Leaders
-
Samsung Electronics Co. Ltd
-
Whirlpool Corporation
-
Panasonic Corporation
-
Electrolux AB
-
Prestige
*Disclaimer: Major Players sorted in no particular order
Europe Smart Cooker Market News
- In October 2022, Prestige introduced the Prestige PMC 3.0 (Plus Multi Cooker) with a 1.5 L capacity with a concealed element for easy cleaning, temperature control, and power indicator.
- In October 2022, the portable, lightweight, automatic SR-3NA(T) cooker from Panasonic was designed to be used when traveling.
Europe Smart Cooker Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Industry Attractiveness - Porter's Five Forces Analysis
- 4.5 Value Chain Analysis
- 4.6 Insights on Current Trends and Recent Developments
- 4.7 Insights on Technological Advancements and Innovations
- 4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
-
5.1 By Capacity Type
- 5.1.1 Small (Less Than 3qt)
- 5.1.2 Medium (More Than3.1qt - 6qt)
- 5.1.3 Large (More Than 6.1qt)
-
5.2 By Distribution Channel
- 5.2.1 Online
- 5.2.2 Offline
-
5.3 By Geography
- 5.3.1 Italy
- 5.3.2 Netherlands
- 5.3.3 Germany
- 5.3.4 United Kingdom
- 5.3.5 Rest of Europe
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
-
6.2 Company Profiles
- 6.2.1 Samsung Electronics Co. Ltd
- 6.2.2 Whirlpool Corporation
- 6.2.3 Panasonic Corporation
- 6.2.4 Electrolux AB
- 6.2.5 Prestige
- 6.2.6 Tovala
- 6.2.7 FABER SpA
- 6.2.8 BERTAZZONI SpA
- 6.2.9 Best SpA
- 6.2.10 Bosch
- 6.2.11 Anova*
- *List Not Exhaustive
7. MARKET OPPORTUNTIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Europe Smart Cooker Industry Segmentation
People regularly use cookware to fulfill their everyday cooking needs. The cooking time, design material, and pot capacity impact consumer demand for smart cookware products. Smart kitchen appliances are more expensive than conventional kitchen equipment. However, they are more effective and time-saving. The European smart cooker market is segmented by capacity type (small (less than 3qt), medium (more than3.1qt - 6qt), large (more than 6.1qt)), distribution channel (online, offline), and geography (Germany, Netherlands, United Kingdom, Italy, and Rest of Europe). The report offers market size and forecasts for European Smart Cooker Market in value (USD Million) for all the above segments.
| By Capacity Type | Small (Less Than 3qt) |
| Medium (More Than3.1qt - 6qt) | |
| Large (More Than 6.1qt) | |
| By Distribution Channel | Online |
| Offline | |
| By Geography | Italy |
| Netherlands | |
| Germany | |
| United Kingdom | |
| Rest of Europe |
Europe Smart Cooker Market Research FAQs
What is the current Europe Smart Cooker Market size?
The Europe Smart Cooker Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Europe Smart Cooker Market?
Samsung Electronics Co. Ltd, Whirlpool Corporation, Panasonic Corporation, Electrolux AB and Prestige are the major companies operating in the Europe Smart Cooker Market.
What years does this Europe Smart Cooker Market cover?
The report covers the Europe Smart Cooker Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Europe Smart Cooker Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Smart Cooker Industry Report
Statistics for the 2024 Europe Smart Cooker market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Smart Cooker analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
