Smart Slow Cooker Market Size Worth $1.2 billion by 2031: IndustryARC

The Global Smart Slow Cooker Market size is predicted to reach $1.2 billion by 2031, growing at a CAGR of 6.6% during the forecast period 2024-2031 according to the latest market research report published by IndustryARC. The increasing demand for connected and intelligent kitchen appliances and the ability to sync with mobile applications and recipe databases are fueling the growth of the Smart Slow Cooker Market during the forecast period, finds IndustryARC in its recent report, titled “Smart Slow Cooker Market Size, Share & Trends Analysis Report- By Capacity Type (Small (Less than 3 quarts), Medium (More than 3.1 to 6 quarts), Large (More than 6.1 quarts)), By Function (Automatic and Manual), By Distribution Channels (Hypermarkets/Supermarkets, Departmental and Convenience Stores, Specialty Stores, Online Sales Channels and Others), By Application (Household and Commercial), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2031’’

During the forecast period of 2024-2031, North America is expected to exhibit the highest compound annual growth rate (CAGR) of 7.3% in the global Smart Slow Cooker market. The region boasts of a tech-savvy consumer base keen on adopting smart home solutions. With a higher disposable income, North American consumers are more inclined toward convenient, time-saving kitchen appliances. Moreover, the proliferation of IoT technology and the presence of key market players driving innovation contribute to the market's growth. These factors contribute to the growth of the Smart Slow Cooker Market share in this region.

As per the Smart Slow Cooker Market forecast, the automatic segment is estimated to grow at the fastest CAGR of 8.8% during the forecast period in terms of function. These automated cookers provide preset programs, intuitive controls, and remote adjustments via mobile apps, catering to time-saving solutions. Additionally, the integration of AI and IoT technology further fuels this growth. A Bosch Home Appliances survey highlights 52% of consumers seeking smart kitchen devices for remote control, emphasizing the desire for time, energy, and cost-efficient solutions.

As per the Smart Slow Cooker Market analysis, the household segment is projected to exhibit the highest growth during the forecast period in terms of application. This upsurge is attributed to the increased adoption of smart slow cookers in domestic settings and the growing preference for home-cooked meals. Consumers seek the convenience, efficiency, and diverse cooking features offered by these smart appliances, driving the substantial growth in the household application segment amid the shift towards smart kitchen solutions and the desire for enhanced cooking experiences within the smart home trend.

The escalating desire for connected and intelligent kitchen appliances serves as a driver for the Smart Slow Cooker market. Consumers are increasingly seeking sophisticated kitchen solutions that provide convenience and advanced capabilities. Smart Slow Cookers, equipped with connectivity features and intuitive controls, align with this demand by offering remote access and diverse cooking programs. This surge in interest mirrors the broader trend of integrating smart technology into households, contributing to the heightened demand for Smart Slow Cookers in the market.

Connectivity issues pose a significant threat to the market growth of smart slow cookers. Inconsistent or weak Wi-Fi signals can disrupt the seamless remote-control functionalities promised by these appliances. Users may face challenges in adjusting settings or accessing features via mobile apps, impacting the expected convenience. A reliable Wi-Fi connection is pivotal, as interruptions might lead to delayed updates, recipe downloads, and hindered monitoring, potentially undermining user experience which can pose a challenge for the Smart Slow Cooker industry.

Health-conscious innovations in smart slow cookers represent a significant opportunity for the market. Integrating features designed for health-conscious consumers involves a focus on promoting healthier cooking practices. This might include functionalities catering to specific dietary needs such as keto, paleo, or vegan diets, enabling users to create meals aligned with their health goals. Additionally, introducing portion control settings, nutritional insights, or calorie tracking capabilities can support users in making more informed and healthier meal choices. Innovations with specialized cooking modes promoting healthier cooking techniques, align with the increasing consumer emphasis on overall wellness, making smart slow cookers more appealing to health-conscious individuals.

Smart kitchen appliances are increasingly being like Amazon Alexa and Google Assistant. This allows users to control their appliances using voice commands, making cooking easier and more convenient. This integration streamlines the cooking process, offering unparalleled convenience to users. Through simple voice prompts, users can initiate, monitor, or adjust cooking settings, contributing to a hands-free and user-friendly cooking experience. For instance, in January 2020, Belkin unveiled a 6-quart Crock-Pot slow cooker with Amazon Alexa. Using the voice assistant, one can not only set cooking times and heat settings, but also check the status of the meal, as well.

● Smart Slow Cooker Market Size and Forecast 

● Smart Slow Cooker Market Trends

● Smart Slow Cooker Market Analysis by Capacity Type

● CAGR of the market during the forecast period 2024-2031

● Value Chain analysis of key stake holders

● Detailed analysis of market drivers and opportunities during the forecast period

● Smart Slow Cooker Market size estimation and forecast

● Analysis and predictions on end users’ behavior and upcoming trends 

● Competitive landscape and Vendor market analysis including offerings, developments, and financials

● Comprehensive analysis of challenges and constraints in the Smart Slow Cooker Market

The COVID-19 pandemic led to an increase in the demand of smart slow cooker owing to the global rise of home cooking during lockdowns. As per a survey by ChefKart, 51% of Indian consumers reported buying at least one smart appliance between March 2020 and January 2021. The emphasis on convenient, yet home-cooked meals during the pandemic has led to heightened interest and adoption of smart slow cookers. 

The ongoing Ukraine-Russia conflict's impact on smart slow cookers is evident amid rising inflation, compelling people to shift towards home cooking and subsequently boosting kitchen appliance sales. With inflationary concerns prompting individuals to cut dining out, there's a heightened preference for home-cooked meals which boosts the sales of smart slow cookers. A survey by Bank of America in 2023 reveals that Gen Z is responding to inflation woes by cutting back on eating out and increasing home dining. 

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The key companies profiled in the Smart Slow Cooker Market Report are listed below:

● Panasonic

● Crock-Pot

● Instant Pot

● Hamilton Beach

● Russell Hobbs

● Breville

● Cuisinart

● Chef iQ

● Ninja

● Morphy Richards

● KitchenAid

● Elite Gourmet

● All-Clad

● Belkin

● Black + Decker

 

Smart Microwave Market – The Smart Microwave Market size is projected to grow at a significant CAGR during the forecast period, owing to the ongoing advancements in IoT technology and increasing consumer interest in smart home appliances. 

Smart Home Appliances Market – The Smart Home Appliances Market size is projected to grow at a CAGR of 15.4% during the forecast period. The growth of this market is mainly attributed to the growth influx in the automation solutions and the rise in disposable personal income.

Smart Oven Market – The Smart Oven Market size is growing at a CAGR of 18.9% during the forecast period of 2022-2027. The ease of use and accessibility of smart ovens, as well as increased disposable income, are driving market expansion.

 

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IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.  

IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format which assists an intelligent and informed decision-making process.

 

Mr. Venkat Reddy

IndustryARC

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