The global barbeque grill market is expected to reach $7.96 billion in 2032 by led by increasing cookouts on holidays and weekends, especially among millennials, according to a recent study by market research and consulting agency Fact.MR.
The Barbeque Grill Market Report from Fact.MR provides a comprehensive outlook of drivers, challenges, trends and opportunities prevailing in the industry. The report projects compounded annual growth of 4.5% from the category from 2022 to 2032.
Some key takeaways from the Fact.MR report:
- The global barbeque grill market is projected to be valued at $5.12 billion dollars in 2022.
- The North American market is projected to account for nearly 27.6%, while the European market is likely to hold about 35.1% of the share in the forecast period of 2022 to 2032.
- The top three barbeque grill manufacturers are anticipated to generate a market share of approximately 40.7%.
The rising adoption of premium products for outdoor and home cooking activities, as well as the surging demand for stainless steel barbeque grills because of their long lifespan and cost-effectiveness, are factors expected to fuel growth. Among other growth drivers are the availability of new grills with features including fuel valves, LED-light control and heavy-duty grates; portable gas grills; and demand for relatively low-cost natural gas-powered grills that burn cleaner than propane.