Sales in the market are projected to grow 6.3% annually through 2024. While sales for outdoor kitchen equipment are expected to stall amid the coronavirus (COVID-19) pandemic, the Freedonia Group projects sales will rise an average of 6.3% annually through 2024. On the basis of the strong annual growth, the Cleveland-based research organization projects the outdoor kitchen market will increase to a value of $780 million in four years.
Growth in the market segment is projected to be positively impacted by new installations stemming from strong consumer interest in outdoor living. The ongoing introduction of mass-market products, including modular islands with built-in cooking fixtures, that can broaden the outdoor kitchen consumer base is also expected to contribute to the growth in the market segment. High activity in the add-on/upgrade segment of the outdoor kitchen equipment market is also predicted to have positive impacts on the overall market growth.
While COVID-19 is having “major near-term effects” on sales in the market segment, The Freedonia Group does not project the virus will have a significant impact on the overall long-term forecast. Sales in 2020 are expected to remain flat because of COVID-19. Government shutdowns of nonessential businesses, including outdoor specialty retailers, are limiting sales opportunities in the early months of 2020. The Freedonia Group predicts outdoor kitchen sales will return to higher levels as safety restrictions are gradually lifted.
Innovation in Outdoor Kitchen Equipment
Innovative products such as pellet and kamado grills, smokers, and pizza ovens are projected to grow at a faster rate than gas grills through 2024. Add-on fixtures such as side burners and griddle plates are expected to see the fastest growth from a smaller consumer base, according to The Freedonia Group.
The outdoor kitchen equipment market penetration will likely be aided by the rising availability of modular outdoor kitchens, which are less expensive than custom versions. The Freedonia Group projects the best growth opportunities are for products that allow custom configurations of islands to accommodate various spaces, include pre-cut compartments that support cooking fixtures and appliances, and offer aesthetic customization.
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