Solar Cooker Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Global Solar Cooker Market is expected to grow at a CAGR of greater than 7% during the forecast period.

Due to the outbreak of the Covid-19 pandemic, the solar cooker market was slightly impacted. Due to restrictions imposed by the government of major economies to curb the further spreading of the virus, the raw material supply chain was badly affected which led to the delay in reaching raw materials to solar cooker manufacturers. Apart from these, the government funding to promote the adoption of renewable energy sources for energy generation was also reduced, because the government had shifted its focus toward healthcare resources required to fight against the pandemic. Post-COVID-19, the market is expected to come back to its previous speed with increasing funding and Government support for renewable energy projects.

The advent of technology and increasing awareness of the use of renewable sources of energy has helped in developing the global solar cooker market. Solar cookers trap solar energy and convert it into heat energy for cooking or heating purposes. These cookers are cost-effective as they do not use any fuelwood or gas connections. They may primarily be used in rural or semi-urban areas where fuel wood is the chief source of energy especially in developing or under-developed countries. Solar cookers are the most accepted application in the renewable energy industry. The only factor that affects the growth of this market is the high cost of these solar cookers and the adequate requirement of sunshine, it also takes a longer time to cook. The demand for these cookers has been continuously rising for the past few years and is expected to grow significantly during the forecasted period.

Solar Cooker Market Trends

Growing Awareness of the Use of Renewable Energy is Driving the Market

Growing awareness for the use of renewable energy along with escalating prices of non-renewable energy drives the solar cooker market. The solar cooker market is gaining growth as people become more aware of the benefits of renewable energy and its applications for it in everyday life. Solar energy has not only been demonstrated to be a viable source of energy, but high levels of growth in the solar PV market have expanded the solar energy market's entire application segments. Solar cookers are capable of pasteurization and are particularly good at preserving the nutritional content of food. Government support and funding for the use of solar energy also stimulate the growth of the solar cooker market.

The development of new technologies utilizing solar energy along with the introduction of cost-efficient technologies compared to conventional energy sources fosters the demand for the solar cooker market. Costs are a big stumbling block for any renewable energy source. Solar cookers, on the other hand, are accessible at attractive prices, thus market expansion is not impeded by increased costs. Solar cookers also require very little maintenance, making them an appealing investment for homeowners.

Asia Pacific is the Fastest Growing Market for Solar Cookers

Asia Pacific is the fastest-growing solar cooker market and is expected to maintain dominance during the forecasted period. Rising awareness of renewable energy along with the accomplishments from the government for the use of solar energy. To meet the unmet demands for petroleum products such as the use of LPG for cooking food from the escalating population, solar cookers are used on large scale. However, due to the saturated market, North America and Europe are expected to exhibit steady growth during the forecast period. However, the U.S. is the largest producer of solar box cookers followed by China.

Solar Cooker Industry Overview

The Global Solar Cooker Market is consolidated. The top 5 companies own 75% of the market share. Industry Players in the Solar cookers Market are seeing the huge potential in emerging economies having large rural populations as they rely heavily on liquified petroleum gas, fuel wood, and cattle waste for cooking. This may act as a value proposition over the price offered along with environmental benefits over conventional fuels.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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