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Pressure Cooker Market was valued at USD 5.90 Bn. in 2023. Global Pressure Cooker Market size is expected to grow at a CAGR of 8.78 % through the forecast period.<br>
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Pressure Cooker MarketGlobal Analysis Report 2024-2030 Published by: MANASI, SENIOR RESEARCH ANALYST
Market Size & Overview: The global pressure cooker market was valued at USD 5.90 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 8.78% through 2030. Pressure cookers are sealed vessels that cook food quickly by trapping steam, which raises the boiling point of water and reduces cooking times by approximately 30% compared to traditional methods. This efficiency has led to increased adoption among consumers seeking time-saving cooking solutions.
Market Growth & Opportunities The market is experiencing significant growth due to several factors: • Urbanization and Busy Lifestyles: Rapid urbanization and hectic schedules are driving demand for appliances that offer convenience and time savings. • Health Consciousness: Pressure cooking preserves nutrients better than traditional methods, appealing to health-conscious consumers. • Energy Efficiency: Pressure cookers consume less energy, aligning with the growing preference for energy-efficient household appliances.These trends present opportunities for manufacturers to innovate and cater to the evolving needs of consumers. Sample Request
Market Segmentation by Application • Household • Commercial by Material • Stainless Steel • Aluminum • Others by capacity • 1-2 liters • 2-5 liters • 5-8 liters • Above 8 liters
Regional Analysis: • North America: The North American market is expanding due to a growing preference for time-saving cooking appliances and an increasing number of working professionals. • Europe: In Europe, the market is driven by a focus on healthy eating and the adoption of energy-efficient kitchen appliances. • Asia Pacific (APAC): The APAC region is experiencing rapid growth, fueled by rising disposable incomes, urbanization, and a shift towards modern cooking methods.
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Merges and Acquisition • Tefal's Acquisition of Rowenta: Tefal acquired Rowenta to expand its presence in the kitchen appliance market, which includes pressure cookers, combining innovation from both brands. • Hamilton Beach Brands, Inc. Acquisition: Hamilton Beach acquired several brands in the kitchen appliance sector to enhance its product portfolio, including electric pressure cookers, allowing the company to expand its reach in North America. • Panasonic Corporation’s Merger with Sanyo Electric: This merger enabled Panasonic to enhance its product lineup with advanced electric pressure cookers, catering to the increasing consumer demand for smart kitchen appliances. Buy This Report
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