Pressure Cooker Market Size, Share, Growth Analysis, By Material(Aluminum, Brass, Stainless steel, Hard Anodised Aluminium), By Capacity(1-2 Litres, 2-5 Litres, 5-8 Litres, Above 8 Litres), By Application(Household, Commercial), By Region - Industry Forecast 2024-2031

Pressure Cooker Market size was valued at USD 4.57 billion in 2019 and is poised to grow from USD 4.9 billion in 2023 to USD 9.16 billion by 2031, growing at a CAGR of 7.2% in the forecast period (2024-2031).

To draw in a sizable customer base, the major market participants in the pressure cooker sector are concentrating on providing the most recent product lines. To occupy the largest possible market share, other techniques used include partnerships, mergers, and acquisitions, and the introduction of cutting-edge products. The competition is getting more intense due to the presence of major pressure cooker market players like Groupe SEB (Selongey, France), Corelle Brands LLC (Illinois, U.S.), Fissler GmbH (Idar-Oberstein, Germany), Midea Group (Foshan, China), National Presto Industries, Inc. (Wisconsin, U.S.), TTK Prestige Limited (Chennai, India), Hawkins Cookers Limited (Mumbai, India), Myer Pty Ltd. (Carlingford, Australia), Wisconsin Aluminum Foundry Co. (Wisconsin, U.S.), Conair Corporation (Connecticut, U.S.), Kuhn Rikon (Rikon, Switzerland). To maintain the escalating market competition, the market participants are implementing methods including increased R&D spending, mergers, acquisitions, and product developments. 'Instant Brands Inc.', 'Conair Corporation', 'Newell Brands Inc.', 'TTK Prestige Limited', 'Fissler GmbH', 'Hawkins Cookers Limited', 'Meyer Corporation', 'Magefesa S.A.', 'Manttra Inc.', 'Silit-Werke GmbH & Co. KG', 'Groupe SEB USA', 'Breville Group Limited', 'Vita Craft Corporation', 'Kuhn Rikon', 'WMF AG', 'Tefal SAS', 'Cuisinart', 'Fagor America Inc.', 'Lagostina S.p.A.'

During the projected period, the pressure cooker market will grow at a faster rate due to favourable regulatory and governmental policies supporting increased sales of clean cooking solutions and technological advancements.

Players on the pressure cooker market are investing in R&D initiatives and the introduction of cutting-edge technologies based on cooking techniques and materials to meet the rising demand for nontoxic pressure cookers. Pressure cookers covered in hard anodized ceramic and aluminium, among other materials, are in greater demand, according to market participants.

Due to rising output and consumption, which would spur regional acceptance of quick cooking techniques like pressure cookers, the Asian market will hold the greatest market share over the projection period. Sales in the industry are being further boosted by the rise in the adoption of innovative items. In the region, India is both the largest producer and consumer of pressure cookers.