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Instant Pot Market Research Report Information By Type (Smart, and Conventional), By Cooking Mode (Low Pressure and High Pressure), By Capacity (3 Quarts, 6 Quarts, 8 Quarts, and 10 Quarts), By Price (Under US$ 75, US$ 76 - US$ 150, and US$ 151 & Above), By End-user (Residential and Commercial), By Distribution Channel (Online and Offline), And By Region (North America, Europe, Asia-Pacific, And Rest of The World) –Market Forecast Till 2032

ID: MRFR/CR/20206-HCR | 128 Pages | Author: Snehal Singh| July 2024

Global Instant Pot Market Overview

Instant Pot Market Size was valued at USD 4.9 Billion in 2023. The Instant Pot Market industry is projected to grow from USD 5.2 Billion in 2024 to USD 9.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.0% during the forecast period (2024 - 2032). The changing lifestyles, technological advancements, health and wellness trends, and expansion of distribution channels are expected to be significant market drivers for the Instant Pot Market.

Instant Pot Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Instant Pot Market Trends

  • Rapid urbanization and a rise in disposable income are driving the market growth

The market CAGR for instant pot is being driven by rapid urbanization and a rise in disposable income. Urbanization has led to a rise in individuals residing in smaller living spaces, often without access to traditional kitchen facilities. This trend is observed globally, with an increasing proportion of the population residing in urban areas. In 2012, 52.5% of individuals lived in urban areas, a figure projected to have risen to 56.9% by 2022. Urbanization rates tend to be higher in developed regions, reaching 79.7% in 2022, compared to 52.3% in developing regions. In the least developed countries (LDCs), urban dwellers remain a minority, accounting for 35.8% of the population. Instant pots offer a convenient solution to address cooking needs in such compact living spaces. These appliances are compact and versatile, capable of boiling, simmering, baking, and pressure cooking. In 2023, a majority of Americans (60%) reported feeling pressed for time, highlighting the need for efficient cooking solutions. Electric cookers, including instant pots, are favored by consumers for their ability to preserve essential nutrients and enhance food flavor. Additionally, instant pots contribute to energy conservation, as they consume less energy compared to traditional cooking methods, making them an environmentally friendly choice.

The growth in disposable income and consumer spending is a key driver behind the increasing value of the instant pot market, rendering it an affordable cooking option. In India, Disposable Personal Income rose to 296383300 INR Million in 2023 from 273364818.90 INR Million in 2022. Similarly, in January 2024, Disposable Personal Income in the United States experienced a 0.3% increase from the previous month. With consumers constantly seeking time-saving and convenient solutions to streamline cooking processes, instant pots have emerged as a favored choice. Additionally, instant pots cater to the needs of the growing number of women entering the workforce in urban areas by enabling quick meal preparation, further contributing to the positive development of the instant pot market. As a result, it is anticipated that throughout the projection period, demand for the Instant Pot Market will increase due to the Rapid Urbanization and Rise in Disposable Income. Thus, driving the Instant Pot Market revenue.

Instant Pot Market Segment Insights

Instant Pot Market Type Insights

The Instant Pot Market segmentation, based on Type, includes Smart and Conventional. The smart segment dominated the market, accounting for 58% of market revenue. Smart Instant Pots are crafted to seamlessly integrate with other smart home devices and ecosystems. According to the latest Oberlo survey on smart home usage, approximately 69.91 million households in the US are actively embracing smart home devices in 2024, marking a 10.2% increase from the 63.43 million recorded in 2023. This integration empowers users to control their Instant Pot alongside other connected appliances, elevating the overall cooking experience and simplifying kitchen tasks.

Figure 1: Instant Pot Market, by Type, 2023 & 2032 (USD Billion)

Instant Pot Market, by Type, 2023 & 2032

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Instant Pot Market Cooking Mode Insights

The Instant Pot Market segmentation, based on Cooking Mode, includes Low Pressure and High Pressure. The High Pressure segment dominated the market, accounting for 58% of market revenue. The high-pressure cooking process preserves a greater amount of nutrients and flavors in dishes, enhancing their health benefits and taste profiles. As health-conscious consumers prioritize appliances that align with their dietary objectives, the nutrient-retaining capabilities of high-pressure Instant Pots present an attractive proposition, driving their popularity in the market.

Instant Pot Market Capacity Insights

The Instant Pot Market segmentation, based on Capacity, includes 3 Quarts, 6 Quarts, 8 Quarts, and 10 Quarts. The 6 Quarts segment dominated the market, accounting for 60% of market revenue. Amidst a growing emphasis on health-consciousness, nutritional awareness, and financial prudence, there's a notable uptick in home cooking as a means to exercise control over ingredients and portion sizes. The 6-quart Instant Pot serves as an efficient and convenient solution for preparing homemade meals from scratch, aligning with the broader consumer trend towards increased home cooking.

Instant Pot Market Price Insights

The Instant Pot Market segmentation, based on Price, includes Under US$ 75, US$ 76 - US$ 150, and US$ 151 & Above. The Under US$ 75 segment dominated the market, accounting for 60% of market revenue. In today's fast-paced consumer landscape, there is a growing demand for kitchen appliances that offer both convenience and ease of use. Instant Pots effectively meet this demand by providing a versatile solution for cooking various dishes quickly and efficiently in a single pot. The affordability of models priced under US$ 75 further enhances their appeal to consumers prioritizing convenience and efficiency in their culinary routines.

Instant Pot Market End-user Insights

The Instant Pot Market segmentation, based on End-user, includes Residential and Commercial. The Residential segment dominated the market, accounting for 60% of market revenue. A notable trend toward heightened home cooking has emerged, propelled by factors including health consciousness, dietary preferences, and economic considerations. According to Intrepid's research findings, 85% of Americans express intentions to increase home cooking activities in 2022. This growing emphasis on home-cooked meals has led to increased demand for versatile and convenient kitchen appliances such as Instant Pots.

Instant Pot Market Distribution Channel Insights

The Instant Pot Market segmentation, based on Distribution Channels, includes Online and Offline. The Offline segment dominated the market, accounting for 60% of market revenue. Despite the rise of e-commerce, a significant portion of consumers continue to exhibit a preference for in-person retail experiences, especially concerning kitchen appliances like Instant Pots. In-store shopping affords customers the chance to physically inspect and interact with the product, benefit from tailored guidance from sales personnel, and capitalize on exclusive promotions or incentives

Instant Pot Market Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The anticipated expansion of the Instant Pot market in North America can be attributed to several key factors. Social media platforms and online communities serve as pivotal channels for promoting Instant Pots and disseminating recipes, tips, and cooking techniques. As of 2022, the United States ranks third globally in terms of social media audience size, trailing only China and India. With over 302 million social media users and a penetration rate exceeding 91 percent, the United States presents a vast and influential market for leveraging social media marketing strategies. Furthermore, positive word-of-mouth referrals from satisfied users further bolster the increasing appeal of Instant Pots, resulting in heightened sales and expanded market presence.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.



Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Instant Pot Market accounts for the second-largest market share, as Social media platforms and digital marketing initiatives play a crucial role in promoting Instant Pots and fostering engagement with consumers across Europe. In the United Kingdom alone, there are approximately 56.8 million active social media users as of 2022, representing about 84.3% of the accessible demographic. Moreover, from 2021 to 2022, the user base witnessed a notable 8.7% increase. Since January 2021, active social media usage has surged by 10%, equivalent to 424 million users. Leveraging platforms like Instagram, Facebook, and YouTube, manufacturers and influencers leverage these platforms to share recipes, culinary advice, and user testimonials, effectively raising awareness and generating interest in Instant Pots among European audiences. Further, the German Instant Pot Market held the largest market share, and the UK Instant Pot Market was the fastest-growing market in the European region.

The Asia-Pacific Instant Pot Market is expected to grow at the fastest CAGR from 2024 to 2032. Instant Pots demonstrate adaptability to a broad spectrum of cooking styles and culinary traditions, rendering them well-suited to cater to diverse cultural preferences throughout the Asia-Pacific region. The burgeoning desire for enhanced living standards contributes significantly to market expansion. Notably, as of October 2023, Western Asia boasted an internet penetration rate of 76.2%, while Eastern Asia recorded a rate of 76%, driving the demand for Wi-Fi-enabled electric pressure cookers. Moreover, the presence of prominent market players further fortifies the region's position. Data from the China Household Electrical Appliances Association (CHEAA) indicates that retail sales of home appliances in China totaled USD 12,732.6 million between January and August 2020. Moreover, China’s Instant Pot Market held the largest market share, and the Indian Instant Pot Market was the fastest-growing market in the Asia-Pacific region.

Instant Pot Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Instant Pot market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Instant Pot industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Instant Pot industry to benefit clients and increase the market sector. In recent years, the Instant Pot industry has offered some of the most significant advantages to the culinary world, revolutionizing home cooking with its innovative features and convenience. Major players in the Instant Pot Market, including Arovast Corporation, Breville Group Limited, Fagor Professional, Gourmia, Inc., Instant Brands Inc., Midea Group, National Presto Industries, Tayama Appliance Inc., Tristar Products, Inc., Wonderchef Home Appliances Pvt. Ltd is attempting to increase market demand by investing in research and development operations.

Established in Sydney in 1932, Breville has emerged as a renowned global brand, known for its commitment to enhancing consumers' lives through meticulous design and groundbreaking innovation. With a presence in over 70 countries worldwide, Breville specializes in delivering kitchen products that are informed by consumer insights. By leveraging innovation, the brand empowers individuals to achieve remarkable results and streamline tasks in their kitchens beyond their initial expectations.

Wonderchef has established itself as a leader in cookware and kitchen appliances, enabling customers to prepare healthy, tasty meals with ease. The brand prides itself on upholding German standards of quality, Italian designs, and a commitment to continuous innovation. Leveraging innovation and technology, Wonderchef consistently surpasses customer expectations. The Gas Oven Tandoor allows users to replicate the experience of restaurant-style Tandoori food at home, fostering a sense of pride in home cooking. Wonderchef has been a pioneer in introducing innovative appliances such as Cold Pressed Juicers, Air Fryers, Nutri-Pot, Slow Cookers, Bread Maker, Health Grills, Die-cast Cookware, Ceramic Cooker, and more, providing customers with the convenience of cooking healthy and delicious meals. Patented tools like the Turbo Chopper facilitate quick food preparation, saving valuable time while ensuring exceptional performance. Wonderchef is committed to introducing new ideas, solutions, and technologies to the market, constantly aiming to revolutionize the culinary experience. The introduction of Wonderchef Royal Velvet Pans has revolutionized the world of non-stick cookware, offering vibrant hues and colors to enhance the cooking experience. Wonderchef products are available in over 10,000 retail outlets nationwide, including leading departmental stores, hypermarkets, specialty stores, and an expanding network of Exclusive Brand Outlets.

Key companies in the Instant Pot Market include

  • Arovast Corporation

  • Breville Group Limited

  • Fagor Professional

  • Gourmia, Inc.

  • Instant Brands Inc.

  • Midea Group

  • National Presto Industries

  • Tayama Appliance Inc.

  • Tristar Products, Inc.

  • Wonderchef Home Appliances Pvt. Ltd

Instant Pot Industry Developments

November 2022: Instant Brands Inc. announced plans to broaden its presence in North America by collaborating with eight regional organizations, aiming to address food industry uncertainties. Through these joint ventures, the company not only gained fresh opportunities but also augmented its market share in the U.S. instant pot market.

November 2022: Midea Group, a leading Chinese home appliances company, announced its successful acquisition of Germany-based KUKA Aktiengesellschaft. This strategic acquisition is poised to facilitate the expansion of Midea Group's business operations and aid in the development of regional strategies.

Instant Pot Market Segmentation

Instant Pot Market Type Outlook

  • Smart

  • Conventional

Instant Pot Market Cooking Mode Outlook

  • Low Pressure

  • High Pressure

Instant Pot Market Capacity Outlook

  • 3 Quarts

  • 6 Quarts

  • 8 Quarts

  • 10 Quarts

Instant Pot Market Price Outlook

  • Under US$ 75

  • US$ 76 - US$ 150

  • US$ 151 & Above

Instant Pot Market End-user Outlook

  • Residential

  • Commercial

Instant Pot Market Distribution Channel Outlook

  • Online

  • Offline

Instant Pot Market Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Attribute/Metric Details
Market Size 2023 USD 4.9 Billion
Market Size 2024 USD 5.2 Billion
Market Size 2032 USD 9.7 Billion
Compound Annual Growth Rate (CAGR) 8.0% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2019-2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Cooking Mode, Capacity, Price, End-user, Distribution Channel, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Arovast Corporation, Breville Group Limited, Fagor Professional, Gourmia, Inc., Instant Brands Inc., Midea Group, National Presto Industries, Tayama Appliance Inc., Tristar Products, Inc., Wonderchef Home Appliances Pvt. Ltd
Key Market Opportunities ·       Rising awareness of healthy eating habits 
Key Market Dynamics ·       Growing disposable income, and expanding working women

Frequently Asked Questions (FAQ) :

The Instant Pot Market size was valued at USD 5.2 Billion in 2023.

The Instant Pot Market is projected to grow at a CAGR of 8.0% during the forecast period, 2024-2032.

North America had the largest share of the global market

The key players in the market are Arovast Corporation, Breville Group Limited, Fagor Professional, Gourmia, Inc., Instant Brands Inc., Midea Group, National Presto Industries, Tayama Appliance Inc., Tristar Products, Inc., Wonderchef Home Appliances Pvt. Ltd

The Smart segment dominated the market in 2023.

The Offline segment had the largest share in the global market.

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