Electric pressure cookers are gradually gaining popularity and witnessing exponential growth in global demand. There is a surge in consumer spending on electric pressure cookers owing to the continuous technological advancements by the key players. The introduction of the smart Wi-Fi-enabled electric pressure cooker allows the individual to operate and control the device through smartphones. Additionally, the delay timer feature of the instant pot helps to manage the cooking time while on the go.
Rapid product innovations in the electric pressure cooker market are positively influencing the market growth. North America is expected to hold the lion’s share in the electric pressure cooker market due to the rising number of working populaces, especially women. The consumers are largely adopting electric pressure cookers as it helps in keeping the meal warm until consumed and has lower maintenance costs.
Impact of COVID-19
The COVID-19 pandemic has resulted in a halt in the production activities, causing severe disruption in the supply chain. The pandemic has severely hit the electric pressure cooker market due to reduced production levels. From the demand side, there is a lower demand for consumer goods as consumer spending has plummeted due to adverse economic conditions. Additionally, the key participants are planning on navigating the potential risks related to the pandemic.
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Electric Pressure Cooker Market: Segmentation
By Distribution Channel
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now