USD 20.10 billion
Report ID:
SQMIG25H2041 |
Region:
Global |
Published Date: February, 2024
Pages:
223
|Tables:
62
|Figures:
77
Outdoor Kitchen Market size was valued at USD 20.10 billion in 2021 and is poised to grow from USD 21.81 billion in 2022 to USD 38.60 billion by 2030, at a CAGR of 8.5% during the forecast period (2023-2030).
Global market growth is accelerating due to the increasing purchasing power of consumers. The market expansion over the anticipated years is being outpaced by the rising popularity of outdoor culinary events and the rising number of hotels and restaurants. Rymer Strategies Company reports that 78% of boomers and 68% of millennials are willing to spend more than USD 5,000 more for an aesthetic outdoor living area. Outdoor living spaces have become increasingly popular, with people incorporating outdoor kitchens, yoga spaces, mini-gyms, and grilling areas into their homes. This trend has increased demand for outdoor kitchen cabinets, as people invest in luxury lifestyles and seek to create functional and stylish outdoor spaces. Germany had USD 516.23 billion (EUR 504.54 billion) in disposable personal income in past years, which is expected to rise to USD 544.47 billion (EUR 532.14 billion) in 2022, according to the Federal Statistical Office. The market growth is restrained due to the high setup costs for outdoor kitchens.
US Outdoor Kitchen Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 20.10 billion
Largest Segment
Residential
Fastest Growth
Residential
Growth Rate
8.5% CAGR
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Outdoor Kitchen Market is segmented on the basis of Product, Application, Distribution Channels and region. By Product, the market is segmented into Cooking Fixtures, Islands & Storage, Cocktail & Bar Centers, Sinks & Faucets, Others. By Application, market is segmented into Residential and Commercial. By Distribution Channels, the market is segmented into Offline and Online. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Outdoor Kitchen Market Analysis by Product
In 2021, the cooking fixtures segment dominated the global market. Gas grills, pizza ovens, smokers, speciality grills, side burners and other auxiliary cooking fixtures are included in the cooking fixture sector. The market expansion is predicted to be accelerated by customers' increasing propensity to install an outdoor kitchen in their homes.
The refrigeration units segment is anticipated to grow at the fastest CAGR. Consumption of refrigeration units to keep food and alcoholic and non-alcoholic beverages outside is expected to speed up industry growth. Moreover, outdoor refrigerated systems work best in temperatures between 60 and 80 degrees, however outdoor-rated equipment can work in the 40-to-100-degree range.
Outdoor Kitchen Market Analysis by Application
In 2022, the residential segment dominated the global market. This is explained by the increase in house renovation initiatives taking place all around the world. In addition, rising spending on outdoor living areas like the kitchen is anticipated to support market expansion. For instance, in 2022, Fixr, Inc. polled 40 leading industry experts about the features and preferences of homeowners for their outdoor living areas, and it found that 41% of them thought that outdoor kitchens will continue to be at the top of homeowners' wish lists this year.
From 2022 to 2030, the commercial application segment is anticipated to grow at the fastest CAGR. The expansion of hotels, resorts, and eateries around the world is responsible for the segment's expansion. Furthermore, the market is being driven by the rising demand for takeaway food brought on by busy work schedules. Also, due to consumers' growing desire for outdoor spaces, hotels, bars, and restaurants are building commercial BBQ areas and outdoor bars, propelling market expansion.
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Due to rising income levels in the region and a stronger business climate in nations like the U.S. and Canada, North America became the largest regional market for outdoor kitchens in 2021, accounting for over 45.0% of global sales. Industry growth is accelerating due to the rise in outdoor kitchen construction in the United States. Also, homeowners are consulting with designers and gardening experts for their outdoor kitchens.
The Asia Pacific market is predicted to grow at the fastest CAGR. People are becoming more interested in outdoor living areas, which is driving the market's expansion due to rising purchasing power and living standards. Furthermore, growth in social events like family reunions and house parties can be linked to increased spending on home improvement.
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Outdoor Kitchen Market Drivers
Changing lifestyle and preferences of consumers
Rising popularity of outdoor cooking and entertainment
Outdoor Kitchen Market Restraints
Limited Space
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To appeal to consumers around the world, both small and large firms are launching cutting-edge products and broadening their product lines. Also, thanks to the availability of a wide range of product options, the outdoor kitchen is becoming more and more popular across the globe.
Outdoor Kitchen Market Top Player’s Company Profiles
Outdoor Kitchen Market Recent Developments
Modular designs
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global outdoor kitchen market analysis, the market growth is driven by increasing demand for outdoor living spaces, the rising popularity of outdoor cooking and entertainment, and the growing adoption of the luxury lifestyle. In addition, the integration of smart technology, a focus on sustainability and eco-friendliness, and the trend towards modular designs are expected to shape the industry and drive innovation in the market. manufacturers are also developing new materials, such as water-resistant polymers, to provide extra protection against harsh weather conditions. North America is expected to hold a significant market share due to the region's popularity of outdoor living and entertainment. The global outdoor kitchen market is expected to grow steadily in the coming years, driven by increasing demand for outdoor living spaces, the rising popularity of outdoor cooking and entertainment, and growing adoption of the luxury lifestyle, along with trends such as smart technology integration, sustainability and eco-friendliness, and modular designs.
Report Metric | Details |
---|---|
Market size value in 2021 | USD 20.10 billion |
Market size value in 2030 | USD 38.60 billion |
Growth Rate | 8.5% |
Base year | 2023 |
Forecast period | 2023-2030 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Outdoor Kitchen Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Outdoor Kitchen Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Outdoor Kitchen Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Outdoor Kitchen Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG25H2041
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