The global gas and electric pressure cooker products market was valued at USD 10.1 billion in 2022 and is projected to expand at a CAGR of 5.2% from 2023 to 2030. Pressure cookers are gaining traction due to their ability to save time and energy while cooking. The rise in demand for these products is attributed to the increasing adoption of convenient cooking methods. Moreover, an upsurge in the demand for healthy, nutritious, and tasty meals is driving the demand for pressure cookers.

Additionally, the growing trend of single-person households is expected to drive the demand for these products. These products offer convenience and easy operation and have become popular among working-class people. Furthermore, the rising awareness about the benefits of pressure cookers is expected to further fuel the market growth. For instance, in May 2021, Cosori launched a new electric pressure cooker, the Cosori Max 9-in-1 Programmable Electric Pressure Cooker. The new product is designed with a large 6.5-quart capacity and 13 one-touch cooking programs.

Furthermore, increasing health concerns associated with food consumption is expected to bolster the demand for pressure cookers. Pressure cookers reduce the cooking time of food, which helps in retaining more nutrients. Moreover, an increase in the number of working women and the rising number of nuclear families are expected to drive the demand for pressure cookers. Additionally, the emergence of several innovative products is expected to fuel the market growth further. For instance, in May 2021, Fagor America, Inc. launched a new electric pressure cooker, the Fagor LUX Multi-Cooker & Pressure Cooker. The new product is designed with a large 6-quart capacity and 11 one-touch cooking programs. The product is designed for easy cooking and offers a variety of cooking options.

Moreover, the growing trend of smart kitchens and the increasing penetration of connected devices are expected to further drive the market growth. For instance, in March 2021, Instant Pot launched a new electric pressure cooker, the Instant Pot Duo Crisp + Air Fryer. The new product is designed with an 8-quart capacity, 11 one-touch cooking programs, and a built-in air fryer. The product is designed for easy cooking and offers a variety of cooking options. Additionally, the product is Wi-Fi compatible and can be controlled with a smartphone application.

The electric pressure cooker segment held the largest market share of 67.9% in 2020. Rapidly increasing demand for electric pressure cookers worldwide is a major factor driving the growth of this segment. The convenience of using electric pressure cookers is expected to continue to drive demand. According to an article published by the National Pressure Cooker Company, in August 2020, electric pressure cookers are popular because they are easy to use, are relatively safe, and offer preset options that are great for busy households. Furthermore, the increasing popularity of smart kitchen appliances and the rising demand for energy-efficient products has been positively impacting the market growth.

The gas pressure cooker segment is expected to register the highest CAGR of 7.3% during the forecast period. The growing demand for gas pressure cookers is majorly attributed to their convenience and the fact that they require less energy as compared to electric pressure cookers. Additionally, a surge in the number of households with gas supply has been driving the market growth. According to an article published by the National Pressure Cooker Company, in August 2020, 35% of households in the U.S. use gas to cook their food. This is a major factor driving the growth of the gas pressure cooker market.

The supermarkets and hypermarkets segment accounted for the largest market share of 37.8% in 2022. Increasing consumer preference for supermarkets & hypermarkets as a primary source for purchasing kitchen appliances is the major factor driving the segment. Supermarkets & hypermarkets have a wide variety of gas & electric pressure cooker products and offer customers the opportunity to make quick purchasing decisions. Consumers also get access to discounts, promotional deals, and other offers, which further boost their purchasing power.

The specialty stores segment is projected to register the highest CAGR of 12.2% during the forecast period. Specialty stores such as kitchen appliance stores provide customers with a wide range of gas & electric pressure cooker products and offer them the opportunity to compare products on the basis of features and prices. This helps customers make informed purchasing decisions. Furthermore, presence of trained sales staff in specialty stores helps customers understand the features and benefits of the product before purchasing it.

The electric pressure cooker segment accounted for the largest market share of 63.2% in 2022. The rising trend of cooking healthy food with minimal time and effort is propelling the demand for electric pressure cookers. Electric pressure cookers are highly preferred due to their convenience, security, and energy efficiency. Moreover, the increasing trend of smart appliances and growing health-consciousness among consumers is boosting the market for electric pressure cookers.

The gas pressure cooker segment is anticipated to expand at the highest CAGR of 8.9% over the forecast period. The traditional gas stove is the most popular and commonly used cooking device in many parts of the world. Moreover, the rising disposable income of people and their increasing preference to cook food in less time are increasing the demand for gas pressure cookers. Furthermore, the increasing availability of gas pressure cookers at low prices, coupled with their simple design, is likely to drive the market for gas pressure cookers.

Asia Pacific is projected to dominate the market, with a revenue share of over 33.3% in 2022. The growing demand for convenience and time-saving kitchen appliances is expected to be a major factor driving the market in the region. In addition, rising disposable incomes in the region, along with the growing popularity of online retailing, are further expected to drive the market. For instance, in March 2021, Panasonic launched the Panasonic Fuzzy Logic Electric Pressure Cooker (EP-PNC100) in India with a 5-year warranty.

Europe is expected to witness steady growth in the coming years. Rising consumer preference for healthy and fresh food is expected to drive the growth of the market in the region. Moreover, increasing demand for convenience-oriented kitchen products is further expected to contribute to the growth of the market. For instance, in April 2021, Tefal launched the Tefal Secure Neo 5L Pressure Cooker in the UK, with five built-in safety features.

In this part of the gas & electric pressure cooker products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your gas & electric pressure cooker products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a gas & electric pressure cooker products business comes from product sales, online orders, and wholesale orders. Here you will find a list with a description of each of these sources of income and other possible sources of profit such as promotional discounts and customer loyalty programs.

Projecting Expenses
In this section, all the regular expenses related to keeping the gas & electric pressure cooker products business running will be described. The list of operating expenses includes raw material costs, manufacturing costs, shipping and handling costs, advertising costs, insurance policies, employee wages, and others.

Some of the key companies operating in the gas & electric pressure cooker market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Instant Pot launched the Duo series of electric pressure cookers.

– In August 2022, Hawkins Cookers Limited launched the Futura series of pressure cookers with an advanced safety locking mechanism.

– In October 2022, Midea Group Co. Ltd. launched the Shine series of electric pressure cookers designed for faster cooking.

Some of the prominent players in the gas & electric pressure cooker market include:

– Hawkins Cookers Limited
– Midea Group Co. Ltd.
– Zojirushi Corporation
– Prestige Industries Limited
– Fissler GmbH
– Instant Pot
– WMF Group
– Meyer Group
– Tefal SAS
– Panasonic Corporation

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global gas & electric pressure cooker products market based on product type, power source, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Automatic Pressure Cookers
– Manual Pressure Cookers
– Programmable Pressure Cookers

2. Power Source Outlook (Revenue, USD Million, 2017 – 2030)

– Gas
– Electric

3. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Key Drivers of the Gas & Electric Pressure Cooker Products Market?
[A]: The rapidly growing demand for cooking convenience, increasing health consciousness among consumers, and the development of gas and electric pressure cookers that offer healthy, nutritious and time-saving meals are some of the key drivers of the gas & electric pressure cooker products market. Additionally, the rise in disposable income, the growing trend of nuclear families, and the availability of advanced models with added safety features are also driving the growth of the market.

[Q]: What are the Major Opportunities for Gas & Electric Pressure Cooker Products Market?
[A]: The growing demand for energy-efficient kitchen appliances, along with the emergence of advanced models of gas & electric pressure cookers with additional features, are some of the major opportunities for the market. Additionally, the growing sales of gas & electric pressure cookers through e-commerce platforms and increased product awareness is also expected to create lucrative opportunities for the gas & electric pressure cooker products market.

[Q]: What are the Key Challenges Facing the Gas & Electric Pressure Cooker Products Market?
[A]: The high cost of electric pressure cookers, their limited capacity, and the lack of proper safety features are some of the key challenges facing the gas & electric pressure cooker products market. Additionally, the availability of cheaper alternatives, as well as the lack of awareness about the benefits of cooking with gas & electric pressure cookers, are further hampering the growth of the market.

[Q]: Who are the Key Players in the Gas & Electric Pressure Cooker Products Market?
[A]: The key players in the gas & electric pressure cooker products market include Bajaj Electricals Ltd., Prestige, Hawkins Cookers Ltd., TTK Prestige Ltd., Midea Group, Electrolux AB, Panasonic Corporation, Fagor America, Inc., and Zojirushi Corporation.