The research report titled ‘Global Smokehouse Market’ available with MarketStudyReport, claims that global smokehouse market valuation had reached USD 144.1 billion in 2021 and is expected to reach USD 167.81 billion by the end of -2028, witnessing a 2.20% CAGR during the review timeline.
Surging demand for a healthy lifestyle, the proliferation of e-commerce retail sector, product innovation & new product development, and the rising preference for barbecued or grilled dishes over fried food among other kinds of fast food are some of the chief factors driving the growth of global smokehouse market.
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Notably, key market players have been working to satisfy both home and office requirements. Electric grills are rarely used in most houses, especially in the Asia Pacific region. To make environmentally friendly components using cutting-edge technology, leading companies are accelerating product innovations, thereby fuelling market progress.
However, the initial high cost of investment, combined with the huge costs associated with the operations of a smokehouse is expected to stifle market growth from 2022 to 2028.
As per type, the market is segmented into outdoor and indoor. The product reach of this industry domain involves gas grills, charcoal & wood grill, and electric grill.
Regionally, this marketplace is analyzed across Latin America, Asia Pacific, Europe, North America, and the rest of the world.
Among these, North America region is expected to capture a significant share in the market during the forecast timeline, owing to rising demand for replacement of grills, which is expected to favorably impact the overall market expansion.
While Asia Pacific region is expected to emerge as a key revenue generator for the market participants in the ensuing years, attributed to the rising presence of a large number of skilled laborers at affordable cost, availability of land, increasing number of regional businesses looking to cater to the local demand, and the shift toward the manufacturing environment in emerging nations, particularly China and India.
The prominent companies operating in the global smokehouse industry are Southern Pride, Char-Broil, Masterbuilt, Town Food Service Equipment Company, Alto-Shaam Inc., R & V Works, Viking Range Corporation, Lynx Grills Inc., KitchenAid, and Wolf Steel Ltd.