The global smart meat thermometer market is segmented into distribution channel such as online store and offline store. Among these segments, , online store segment is expected to attain a CAGR of 18.4% over the forecast period. Further, the market is expected to achieve Y-O-Y growth rate of 23.7% by the end of 2024 as compared to previous years. Online store distribution segment is expected to contribute 69.8% in the terms of value in 2024 as compared to the contribution of 71.5% in 2016.Global smart meat thermometer market reached USD 37,073.7 Thousand in terms of value in 2016 and is expected to reach USD 167,446.6 Million by the end of 2024, expanding at a CAGR of 21.7% over the forecast period i.e. 2017-2024. Moreover, the smart meat thermometer market accounted for 445.4 Thousand units in 2016 in terms of volume and is expected to reach 1,656.5 Thousand units in 2024, expanding at a CAGR of 18.8% over the forecast period.
In terms of regional platform, U.S. smart meat thermometer market reached USD 19,583.4 Thousand in 2016 and is expected to reach USD 75,246.5 Thousand by the end of 2024, expanding at a CAGR of 19.3% over the forecast period i.e. 2017-2024. In the terms of volume, U.S. smart meat thermometer market is anticipated to reach 793.5 thousand units in 2024 from 250.6 Thousand units in 2016.
In the terms of value, Asia Pacific market is expected to showcase a significant CAGR during the forecast period i.e. 2017-2024. Increasing consumption of meat and rising awareness are expected to positively impact the growth of smart meat thermometer market in Asia Pacific.
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Rapid Urbanization and Rising Disposable Income
Improving lifestyles due to rise in income level, especially in the developing countries such as India, China, South Africa and Brazil is the key factor which is believed to fuel the demand for smart meat thermometer during the forecast period.
Further, rising urban population across the globe, characterized by urban upper class and high net worth individuals, has led to a strong demand for smart and connected products such as smart meat thermometer.
Rising Consumer Awareness
Rising health and hygiene concerns along with rising personal disposable income of consumers are believed to foster the growth of global smart meat thermometer market.
Further, increase in the global population coupled with advancement in the smart technology and growing demand for convenience products due to increasing personal disposable income are some of the major factors likely to foster the demand for smart meat thermometer.
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In contrast with, High cost of technologically advanced smart meat thermometer is anticipated to limit the growth of smart meat thermometer market over the forecast period.
The report titled “Smart Meat Thermometer Market : Global Demand Analysis & Opportunity Outlook 2016-2024” delivers detailed overview of the global Smart Meat Thermometer Market in terms of market by connectivity ,by distribution channel, by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global smart meat thermometer market which includes company profiling of includes Taylor Precision Products Inc., Apption Labs, Cappec, Weber Stephen Products, Inkbird Tech., Maverick House Wares, G & C Ltd., Lavatools, Thermo Works, Inc, and Loki. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart meat thermometer market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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