Magnetic Grill Market Size

Magnetic Grill Market size is expected to surpass USD 5 Billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of magnetic grill was over USD 2 Billion. The growth of the market is due to the growth of e-commerce and online sales platforms, manufacturers now have more ways to connect with consumers. In 2023, online shopping is predicted to account for 20.8% of retail sales. By 2026, it's anticipated that 24% of retail transactions will happen online.

In addition, tight laws governing the quality and safety of products, particularly in the food sector, are driving up magnetic grill market expansion. Magnetic grills aid in maintaining the overall quality of the finished product and preventing product contamination and equipment failure. The Food and Drug Administration (FDA) in the United States and the European Food Safety Authority (EFSA) in Europe oversee regulations pertaining to the food business. Strict guidelines and regulations have been established by these authorities regarding the manufacturing of food products in the food business as well as the equipment utilized in the facilities.