Market Insights Consumer Household Appliances Small Appliances

Grills & Roasters - South Korea

South Korea

The revenue generated in the Grills & Roasters market in South Korea is estimated to reach US$65.02m in 2024.
This market is projected to grow at an annual rate of 3.42% (CAGR 2024-2029).
When compared globally, in the United States leads in revenue generation, with a staggering US$4,047m in 2024.
In terms of per household revenues, in South Korea is expected to generate US$2.98 in 2024.
Looking ahead, the volume in the Grills & Roasters market is predicted to reach 1.4m pieces by 2029.
However, a slight decline of 0.3% is anticipated in 2025.
On average, each household in South Korea is expected to account for a volume of 0.06pieces in the Grills & Roasters market in 2024.
South Korea's growing fascination with outdoor grilling has led to a surge in demand for high-quality grills and roasters.

Key regions: Europe, United Kingdom, Indonesia, China, Germany

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on Household Appliances.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global Survey), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as number of households, consumer spending, and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques, such as exponential trend smoothing, for instance. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Survey data is reweighted for representativeness.