Smart Slow Cooker Market – By Capacity Type (Small (Less than 3 quarts), Medium (More than 3.1 to 6 quarts), Large (More than 6.1 quarts)), By Function (Automatic and Manual), By Distribution Channels (Hypermarkets/Supermarkets, Departmental and Convenience Stores, Specialty Stores, Online Sales Channels and Others), By Application (Household and Commercial), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2031

Smart Slow Cooker Market size is estimated to reach US$1.2 billion by 2031, growing at a CAGR of 6.6% during the forecast period 2024-2031. The increasing demand for connected and intelligent kitchen appliances and the ability to sync with mobile applications and recipe databases makes puts these appliances at the forefront of the smart home revolution, offering convenience, energy efficiency, and enhanced cooking experiences for consumers which is driving the demand for Smart Slow Cooker from the end users. This trend is expected to boost the growth of the Smart Slow Cooker Market during the forecast period.

The ongoing advancements in IoT technology and increasing consumer interest in smart home appliances creates opportunities for manufacturers to innovate. This trend contributes to a positive outlook for the Smart Slow Cooker industry during the forecast period.

The “Smart Slow Cooker Market Report - Forecast (2024-2031)” by IndustryARC, covers an in-depth analysis of the following segments in the Smart Slow Cooker Market.

● The COVID-19 pandemic catalyzed a significant surge in the smart slow cooker market, echoing the global rise of home cooking during lockdowns. A survey by ChefKart suggests that the home cooked food market in India is booming, as 51% of consumers reported buying at least one smart appliance between March 2020 and January 2021. The emphasis on convenient, yet home-cooked meals during the pandemic has led to heightened interest and adoption of smart slow cookers. 

● The ongoing Ukraine-Russia conflict's impact on smart slow cookers is evident amid rising inflation, compelling people to shift towards home cooking and subsequently boosting kitchen appliance sales. With inflationary concerns prompting individuals to curtail dining out, there's a heightened preference for home-cooked meals which boosts the sales of smart slow cookers. A survey by Bank of America in 2023 reveals that Gen Z is responding to inflation woes by cutting back on eating out and increasing home dining. Nearly half of the young people polled claimed they are cutting back on eating out and instead prefer to cook at home. 

Geographically, in the Smart Slow Cooker market share, North America is analyzed to grow with the fastest CAGR of 7.3% during the forecast period 2024-2031. Consumers in this region embrace technology and the kitchen is no exception. For instance, a survey of 2,000 US consumers by Bosch Home Appliances reveals that 52% of consumers are interested in smart kitchen appliances that can be controlled remotely via a smartphone or tablet. The survey also shows that consumers are looking for smart kitchen appliances that can save time, energy, and money, as well as provide convenience and comfort.  The cultural shift towards healthy eating and busy lifestyles further propels the demand for Smart Slow Cookers, positioning North America as a leading market for these technologically advanced kitchen appliances.

In the Smart Slow Cooker Market analysis, the automatic Smart Slow Cooker segment is estimated to grow the fastest during the forecast period. This surge is primarily attributed to the increasing demand for hassle-free, autonomous kitchen appliances. Automated smart slow cookers offer users the convenience of preset cooking programs, intuitive controls, and smart functionalities, enabling them to adjust settings remotely through mobile applications. This segment's growth is further fueled by consumer preferences for time-saving solutions and the integration of artificial intelligence and IoT technology into kitchen devices. A survey by Electrolux shows that 65% of consumers are willing to pay more for smart kitchen appliances that can improve their health. The survey also reveals that consumers are looking for smart kitchen appliances that can offer health benefits such as food freshness and nutritious food.

According to the Smart Slow Cooker Market forecast, the household segment is estimated to register the fastest growth during the forecast period. This surge in the household segment can be attributed to the increasing adoption of smart slow cookers in domestic settings and the rising popularity of home cooked meals. A report by the Institute of Food Technologists states that the top food trend of 2023 is home cooking. Eight in ten meals are sourced from home, and 26% of consumers plan to cook more at home in 2023. Consumers seek the convenience, time efficiency, and diverse cooking functionalities offered by these smart appliances. Additionally, the shift towards smart kitchen solutions in residential spaces, driven by the desire for enhanced cooking experiences, healthier meal preparation, and the overall smart home trend, is expected to drive the substantial growth in the household application segment.

Consumers seek seamless integration between cooking devices and technology, fostering convenience and versatility in meal preparation. As per the 2020 Smart Home Survey report by LG Electronics Inc., 56% of consumers are willing to pay more for smart kitchen appliances that can communicate with each other and 49% are interested in appliances that can be controlled by voice or gesture. Smart slow cookers, equipped with connectivity features and intuitive controls, cater to this demand by offering the ability to sync with mobile applications, access recipe databases, and provide remote control functionalities. Thus, the increasing demand for connected and intelligent kitchen appliances acts as a driver for the growth of the Smart Slow Cooker Market during the forecast period.

The smart integration of slow cookers with mobile apps and recipe databases is a key driver in the smart home revolution. This sync allows users on-the-go control, enabling remote cooking adjustments via mobile devices. Access to vast recipe databases simplifies meal planning and enhances culinary experiences, promoting diverse cooking opportunities. This fusion of features cultivates energy efficiency and streamlined cooking, elevating user experience. According to the 2020 State of the Home report by GE Appliances, 72% of consumers would like their kitchen appliances to be connected to each other and 68% would like their kitchen appliances to be connected to other smart devices in their home. The survey also suggests that consumers are looking for smart kitchen appliances that can offer personalized features, such as voice control and recipe suggestions. Consequently, this integration significantly propels the escalating demand for Smart Slow Cookers, meeting the needs of consumers in search of sophisticated, user-friendly kitchen solutions within the smart home landscape.

While the integration of Wi-Fi connectivity and mobile applications offers numerous advantages, there are potential hurdles related to the reliability of the internet connection. In scenarios where the Wi-Fi signal is weak or intermittent, users may face difficulties in controlling their smart slow cookers remotely through mobile apps. This inconsistency could disrupt the seamless experience that these appliances promise. According to a review of the Crock-Pot WeMo Smart Slow Cooker by CNET, this smart slow cooker can't tell the difference between a Wi-Fi outage and a power outage, so spotty home Wi-Fi might return frequent error messages and notifications saying that the food may be "unsafe for consumption."  Moreover, an unreliable connection might lead to issues with timely updates, recipe downloads, or interruptions in the monitoring and adjustment of cooking settings. The challenge posed by connectivity issues could impede the growth of the Smart Slow Cooker market.

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Smart Slow Cooker Market. The top 10 companies in this industry are listed below:

1. Panasonic

2. Crock-Pot

3. Instant Pot

4. Hamilton Beach

5. Russell Hobbs

6. Breville

7. Cuisinart

8. Chef iQ

9. Ninja

10. Morphy Richards