Smart Slow Cooker Market Size to Grow At 6.5% CAGR From 2024 to 2030.

Smart Slow Cooker Market Size (2024 - 2030)

As per our research Report, the Smart Slow Cooker Market is forecasted to be growing at CAGR of 6.5% from 2024 to 2030.

A smart cooker is an electronic gadget that automates the cooking process using technology. The temperature, cooking time and even ingredient additions while the appliance is running can all be controlled in this manner. As it offers many benefits over conventional cookers, smart cookers are growing in popularity. Smart Cookers are high-tech multi-function ovens, which may cook in multiple ways with only a few basic commands (often a button push), decreasing some of the guesswork involved in the cooking process. The entire cooking process is mechanized. The appliance cooks the food at the ideal temperature and time, turn them off, and maintains warmth on its own. A slow cooker is a cooking appliance that takes additional time to prepare food than conventional cookers. The modernization in technology led to the development in the cooking industry as well, which impacted in smart slow cookers. A smart slow cooker permits user to control the cooking time and temperature through a smartphone application. The smart slow cooker constitutes of a heating element, temperature sensor, power and control board, connectivity module, and a control panel. The temperature sensor and connectivity module are what differentiates Smart cookers from conventional cookers. A user can start using the smart slow cooker by registering themselves on the manufacturer’s website and then integrating the smartphone to the smart cooker’s control panel.  The smart gadget has helped consumers to save cooking time and prepare healthy and delicious meals. Also, due to its slow cooking and remote connectivity benefit it conserves energy and provides hands-off cooking, which is congenial for people working long hours in a hectic schedule.

Smart appliances are typically incremental developments that enhance current products with new capabilities rather than producing entirely new. The relatively high product prices compared to its alternatives are the main source of a large number of revenues. Customers frequently begin with lower-cost small appliances like vacuum robots or smart coffee makers, whereas those who already own products from other segments are more likely to purchase large, more expensive appliances like refrigerators. There are various reasons why the market for smart appliances is expanding so quickly. These gadgets make consumers' lives easier and quicker because they can control all of their devices from one location. The increasing need for home automation technology has also escalated the demand for smart appliances. The potentiality of smart appliances to save energy is another aspect driving demand.
Smart Kitchen Appliances are eco-friendly, user-friendly and energy efficient and consumers are addicted to modern and smart appliances. Furthermore, consumers can raise their spending on luxury smart kitchen appliances owing to rise in the disposable income and purchasing power, which is driving up demand and the market.

In the smart kitchen appliance market, the dominating segment is cooking appliance segment which is increasing at the fastest rate. Due to growing living standards and growing interest in smart-linked home appliances, this segment holds the largest share of the global market for smart kitchen appliances. The updated technology used in these appliances and their additional networking features also support the expansion. The smart cooker market is expected to rise as consumer demand for user-friendly, energy-efficient appliances grows. Utilizing technology, smart cooker gadgets may complete duties more swiftly and effectively. Smart cookers are more energy-efficient than conventional kitchen device. The capability to automatically shut off the appliances when necessary while informing the owner is one of the main factors boosting the demand for smart kitchen equipment.

Portability of slow cookers is a latest innovation introduced by the prominent vendors in the market. In the current market, the slow cookers being introduced consist of a removable crock. Due to this detachable characteristic, the weight of slow cookers reduces, allowing the users to move the cookers from one place to another. Vendors are also launching models with rubber seals and locking mechanisms, which hold the lid sealed tightly onto the crock for spill-free transportation of slow cookers. These features have enhanced the convenience and comfort quotient of the appliance, which is very helpful for women. One of the challenges that Smart cookers might face is the fact that low power is consumed by slow cookers. Slow cookers available in the market require around 0.4A current per hour. So, if a cooker is utilised for eight hours, the current drawn amounts to 3.2 A or 0.768 KW only. Thus, the total energy consumed by a slow cooker is about 2000-watt per hour which is why it is popular among many households.

The Global Smart Slow Cooker Market is expected to deliver lucrative opportunities for businesses, which include acquisitions, partnerships, collaborations, and agreements during the estimated period. Furthermore, technological advancements and an improvisation in smartphone usage by consumers are predicted to improve the market for the smart slow cooker and enhance its future growth opportunities.

KEY MARKET INSIGHTS: 

• Based on market segmentation by application, household holds the highest share of the market. Smart slow cookers are accelerated in demand by households for clean and healthy food consumption. Emerging elements in smart slow cookers such as Wi-Fi and Bluetooth connectivity, AI monitoring and voice assistant, digital recipes that are in-built in the application, and others have increased its demand in the household sector. Further, a growing need for 6-quart smart slow cookers is observed in large families as it enables cooking different meals in large amounts.  The commercial sector is growing swifter during the forecast period as smart slow cookers are widely used by catering services, restaurants, and hotels to cater to large consumer demand at once. Additionally, large-sized smart cookers with various cooking modes are becoming popular among restaurants.
• Based on segmentation by distribution channel, hypermarket, and supermarket occupies the biggest share in the market. The consumer mind set of sense and feel a product has the sale of smart slow cookers via supermarkets and hypermarkets. Furthermore, attractive offers such as cashback, sales, discounts, free goodies such as kitchen accessories, and free recipe books have further hiked the demand for smart slow cookers via hypermarkets and supermarkets. The online segment is witnessing significant development in the smart slow cooker market. Product and price comparison, easy home delivery, and 24*7 accessibility through online apps have risen the demand for smart slow cookers via the online segment.
• North America holds the dominating portion in the market share, region-wise. Owing to technology improvements such as AI and voice enable smart slow cookers and all-at-one-stop features such as 9-in-1 smart slow cookers with warmer, steamers, and other features, have increased the demand for smart slow cookers in the region. Furthermore, rising meat consumption among the US population has pushed the demand for smart slow cookers. This is because meat and other ingredients are cooked more safely and bacteria are easily dead by steam in a smart slow cooker, which enables a healthy and clean meal. Asia Pacific witnessed faster growth during the estimated period. The rising population and food habits of people in this region has boosted the demand for smart slow cookers in the region. Further, changing cooking preferences as a result of Western influence has developed the use of smart and wi-fi-enabled slow cookers in the region.

Smart Slow Cooker Market Segmentation:

By Application

• Household
• Commercial

By Distribution Channel

• Online
• Hypermarket/ Supermarket
• Retail Stores
• Others

By Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East and Africa

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