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Smart Cooking Thermometer Market - Forecast(2024 - 2030)
Smart Cooking Thermometer Market Overview:
Smart Cooking Thermometer Market size is estimated to reach $125 million by 2030, growing at a CAGR of 10.3% during the forecast period 2023-2030. Increasing consumer demand for convenient and hassle-free cooking solutions, the rising popularity of smart home devices, and growing interest in IoT-connected kitchen appliances are key factors propelling the Smart Cooking Thermometer Market growth.
Additionally, significant investments by appliance manufacturers to develop innovative smart cooking devices are presenting substantial growth opportunities for the Smart Cooking Thermometer Market. As per Statista report of 2023, the smart kitchen appliances market is projected to reach $47.07 billion worldwide by 2027, indicating strong investment in connected cooking technologies. At the same time, evolving consumer preferences for convenience, ease of use, and technology-enabled cooking are other key factors driving demand for smart cooking thermometers. These trends are expected to positively shape the Smart Cooking Thermometer industry outlook over the forecast period.
Market Snapshot:
Smart Cooking Thermometer Market - Report Coverage:
The “Smart Cooking Thermometer Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Smart Cooking Thermometer Market.
COVID-19 / Ukraine Crisis - Impact Analysis:
•Due to the global economic crisis caused by the Covid pandemic, the market negatively impacted the Smart Cooking Thermometer Market in 2020 due to economic uncertainty and lockdowns which stalled demand. However, the market has rebounded swiftly driven by changing consumer cooking habits, increased home meal preparation, and a greater emphasis on food safety from both consumers and governments. This has stimulated innovation and renewed interest in tech-enabled cooking tools.
•Russia was one of the major exporters of raw materials used in semiconductor and electronics production with Ukraine supplying neon gas critical for semiconductor manufacturing faced shortages and price hikes. Moreover, logistics obstacles like shipping delays also emerged due to the war. Companies diversified supplier networks, but ongoing shortages of Russia-sourced nickel, palladium, and semiconductors challenged the market, slowing growth. The shortage of key Russia-exported raw materials is expected to persist, posing continued supply chain challenges.
Key Takeaways:
•Highest Share of North America Region
Geographically, in the global Smart Cooking Thermometer market share, North America has highest share 35% in 2022. This growth can be attributed to high consumer awareness, advanced retail infrastructure, and a strong product innovation environment driven by key device manufacturers in the region. Advanced retail infrastructure and high e-commerce penetration in the U.S. facilitates distribution and sales of smart cooking thermometers through online channels. According to the U.S. Census Bureau, e-commerce sales were over $1.03 trillion in 2022, indicating strong adoption of connected devices.
•Online Sales Channel Poised for Growth
The online stores segment is estimated to hold the largest share of the smart cooking thermometer market with the highest CAGR of 11.8% during the forecast period. Online retailing provides more discounts and wider selection, making it a popular platform for purchasing cooking thermometers.
•Stainless Steel Leads Materials Demand
In terms of materials, stainless steel is expected to command the largest smart cooking thermometer market share of 32% in 2022. Stainless steel provides durability, easy cleaning, and corrosion resistance. As performance and longevity gain importance for consumers, stainless steel thermometers will likely dominate demand.
•Increasing Foodborne Illness Drives Safety Demand
Rising instances of foodborne illness are driving greater adoption of temperature control tools like smart thermometers. According to the WHO, over 600 million people fall ill annually due to contaminated food. Smart thermometers enable proper cooking temperatures to help combat this public health threat. The Centres for Disease Control & Prevention (CDC) advises using a food thermometer as one of four key food safety steps. As awareness increases, demand for smart thermometers will rise.
•Restaurant Industry Growth Spurs Adoption
The rapidly expanding restaurant industry is also propelling smart thermometer demand. According to projections by Statista, the global food service market is expected to reach $4.43 trillion by 2030, indicating substantial growth. With more dining establishments and commercial kitchens in operation, ensuring proper temperatures during food preparation is critical. Smart thermometers deliver the precision and data logging capabilities restaurants need to maintain health standards.
•Restraints that hamper the Market Growth
Challenges such as high costs, lack of consumer awareness, and slow technology adoption in some regions. Inaccurate temperature readings and availability of counterfeit products also pose challenges. Furthermore, the lack of standardized food safety regulations globally creates market obstacles. Global awareness should be raised and decreasing manufacturing and supply costs will be critical for players to tap into the full potential of the smart cooking thermometer opportunity.
Smart Cooking Thermometer Market Share (%) By Region, 2022
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Smart Cooking Thermometer Market. The top 10 companies in this industry are listed below:
Electronic Temperature Instruments Ltd (Thermalite, Bluetooth thermometers)
Lavatools
Thermoworks
B+B Thermo-Technik
Salter
OXO
Hanna Instruments
Tecpel Co. Ltd.
Lakeland
Taylor Precision Products
Scope of the Report:
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1. Smart Cooking Thermometer Market - Overview
1.1. Definitions and Scope
2. Smart Cooking Thermometer Market - Executive Summary
3. Smart Cooking Thermometer Market - Comparative Analysis
3.1. Company Benchmarking - Key Companies
3.2. Global Financial Analysis - Key Companies
3.3. Market Share Analysis - Key Companies
3.4. Patent Analysis
3.5. Pricing Analysis
4. Smart Cooking Thermometer Market - Start-up Companies Scenario (Premium)
4.1. Key Start-up Company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Venture Capital and Funding Scenario
5. Smart Cooking Thermometer Market – Market Entry Scenario Premium
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing Business Index
5.3. Case Studies of Successful Ventures
6. Smart Cooking Thermometer Market - Forces
6.1. Market Drivers
6.2. Market Constraints
6.3. Market Challenges
6.4. Porter's Five Force Model
6.4.1. Bargaining Power of Suppliers
6.4.2. Bargaining Powers of Customers
6.4.3. Threat of New Entrants
6.4.4. Rivalry Among Existing Players
6.4.5. Threat of Substitutes
7. Smart Cooking Thermometer Market – Strategic Analysis
7.1. Value Chain Analysis
7.2. Opportunities Analysis
7.3. Market Life Cycle
8. Smart Cooking Thermometer Market – by Type (Market Size – $Million/$Billion)
8.1. Instant-Read
8.2. In-Probe
8.3. Oven-Safe
8.4. Wireless
8.5. Instant-Read
8.6. In-Probe
8.7. Oven-Safe
8.8. Wireless
8.9. Digital
8.10. Liquid
8.11. Dial
8.12. Infrared
9. Smart Cooking Thermometer Market – by Distribution Channel (Market Size – $Million/$Billion)
9.1. Online
9.2. Offline
10. Smart Cooking Thermometer Market – by Material (Market Size – $Million/$Billion)
10.1. Metal
10.2. Acrylonitrile Butadiene Styrene
10.3. Glass
10.4. Stainless Steel
10.5. Plastic
11. Smart Cooking Thermometer Market – by Temperature Range (Market Size – $Million/$Billion)
11.1. Deep-Fry
11.2. Meat
11.3. Candy
11.4. Refrigerator
12. Smart Cooking Thermometer Market – by Placement (Market Size – $Million/$Billion)
12.1. Meat
12.2. Poultry
12.3. Thin foods
12.4. Combination Dishes
13. Smart Cooking Thermometer Market – by Price Range (Market Size – $Million/$Billion)
13.1. High
13.2. Medium
13.3. Low
14. Smart Cooking Thermometer Market – by Application (Market Size – $Million/$Billion)
14.1. Roasts
14.2. Casseroles
14.3. Soups
14.4. Thin and Thick Foods
14.5. Chicken and Burgers
14.6. Others
15. Smart Cooking Thermometer Market – by End User (Market Size – $Million/$Billion)
15.1. Residential
15.2. Restaurant
15.3. Hotels
15.4. Food Processing
15.5. Catering
16. Smart Cooking Thermometer Market – by Geography (Market Size – $Million/$Billion)
16.1. North America
16.1.1. The U.S.
16.1.2. Canada
16.1.3. Mexico
16.2. Europe
16.2.1. UK
16.2.2. Germany
16.2.3. France
16.2.4. Italy
16.2.5. Spain
16.2.6. Russia
16.2.7. Rest of Europe
16.3. Asia-Pacific
16.3.1. China
16.3.2. India
16.3.3. Japan
16.3.4. South Korea
16.3.5. Australia & New Zealand
16.3.6. Rest of Asia-Pacific
16.4. South America
16.4.1. Brazil
16.4.2. Argentina
16.4.3. Chile
16.4.4. Colombia
16.4.5. Rest of South America
16.5. Rest of the World
16.5.1. Middle East
16.5.2. Africa
17. Smart Cooking Thermometer Market – Entropy
18. Smart Cooking Thermometer Market – Industry/Segment Competition Landscape Premium
18.1. Market Share Analysis
18.1.1. Market Share by Product Type – Key Companies
18.1.2. Market Share by Region – Key Companies
18.1.3. Market Share by Country – Key Companies
18.2. Competition Matrix
18.3. Best Practices for Companies
19. Smart Cooking Thermometer Market – Key Company List by Country Premium
20. Smart Cooking Thermometer Market - Company Analysis
20.1. Electronic Temperature Instruments Ltd
20.2. Lavatools
20.3. Thermoworks
20.4. B+B Thermo-Technik
20.5. Salter
20.6. OXO
20.7. Hanna Instruments
20.8. Tecpel Co. Ltd.
20.9. Lakeland
20.10. Taylor Precision Products
"Financials to the Private Companies would be provided on best-effort basis."
The Smart Cooking Thermometer Market is projected to grow at 10.3% CAGR during the forecast period 2023-2030.
Global Smart Cooking Thermometer Market size is projected to reach $125 million by 2030
The leading players in the Smart Cooking Thermometer Market are Electronic Temperature Instruments Ltd, Lavatools, Thermoworks, B+B Thermo-Technik, CDN and others.
The major trends are growing consumer focus on food safety, increasing adoption of smart kitchen devices, and integration of remote monitoring features and connectivity.
Key drivers are rising foodborne illness incidences, expanding restaurant industry, and strengthening food safety regulations. Major opportunities include smart home integration, product innovation, and ecommerce channel growth.