Global Solar Cooker Market Research Report: Forecast (2023-2028)

Market Insights & Analysis: Global Solar Cooker Market (2023-28)

The Global Solar Cooker market is expected to grow at a CAGR of around 8.58% during the forecast period, 2023-28, owing to the advancements in technology & widespread awareness of the benefits of using renewable energy sources, i.e., solar cookers.

A solar cooker is a cooking device that absorbs UV rays through the refractive panels & then transforms them into infrared light rays to be used effectively for cooking. These cookers are inexpensive because they do not require any biofuel or gas connections. They are likely to be used largely in rural or semi-urban areas where fuel wood is the primary source of energy, particularly in nations that are developing or underdeveloped. They are the most widely used renewable energy application. Owing to their beneficial features & environmental-friendly nature, the market for solar cookers has been expanding since the past period.

The market for these cookers has grown due to the rising efforts of governments and manufacturers to promote their adoption, reduce carbon emissions, and reduce their reliance on fossil fuels. The surging carbon emissions across the regions globally & a spike in the premature deaths of the residents, as a result of the growing use of fuelwood & coal for cooking purposes are also influencing the demand for these cookers. For instance, according to the World Health Organization (WHO), in 2022, around 6.7 million premature deaths were recorded annually due to indoor air pollution caused primarily by wood fires, and as a consequence, women & children are the most affected, as they spend more time at home.

Hence, to minimize the health risks across India and other developing countries, the government of various regions, such as Asia-Pacific, Europe, Africa, etc., are progressively launching various programs & initiatives to boost the adoption of solar cookers as an energy-efficient alternative. Additionally, the efficiency of using solar cookers to cook food at time of war & natural calamities where the availability of fuel & gas is widely restricted has notably contributed to the revenue growth of global market.

Besides, due to technological advancements, most of the time cost is a major roadblock for any renewable energy source. However, some solar cookers, on the flip, are available at reasonable prices, making them accessible to individuals around the globe. Furthermore, these cookers require minimal maintenance, making them a desirable expenditure for homeowners. As a result of several initiatives, technological advancements & the development of new better products, as well as cost-effectiveness, the market is expected to expand between 2023 and 2028.

Global Solar Cooker Market Key Driver:

Growing Inclination of the Residents & Governments Towards the Use of Sustainable Products - Rising CO2 emissions across regions globally as a consequence of an upsurge in the consumption of fossil fuels for residential projects, manufacturing facilities, and the energy & utility sectors have intensified government concerns about the use of sustainable alternatives. As a result, to combat rising carbon emissions, the government & various non-governmental organizations are increasingly promoting the use of solar-powered cooktops or cookers to replace traditional sources of cooking such as firewood, coal, and others. 

Moreover, the rising prevalence of respiratory diseases among rural residents is widely supporting the sale of solar cookers, especially since there is an inability to access LNG in rural areas. In response, governments are increasingly distributing solar cookers to the rural populace to boost awareness & reduce disease burdens. For instance, according to Solar Cookers International, approximately 2.4 billion residents globally cook food using polluting fuels & look for a way out of energy poverty.

Thus, to provide the residents with efficient as sustainable cooking alternatives, PURAMS (Productive Use in Rural Africa Markets using Standalone Solar), in 2022, announced to develop of a standalone solar cooker to address the challenges caused by traditional cooking methods faced by rural communities across Mozambique, Rwanda, and Kenya among others.

In light of these initiatives by non-government organizations & governments across countries to raise awareness of solar cookers by conducting distribution activities in rural areas, the global market for solar cookers is expected to continue to grow during 2023-2028.

Global Solar Cooker Market Key Trend:

Growing Demand for Solar Cookers with Enhanced Technology - The rising traction of residents & government authorities across the globe for the usage of efficient cooking technologies has led to an increased demand for monocrystalline panels-based, concentrated solar cooking technology-based solar cookers. This is due to the ability of monocrystalline panels and concentrated modules to attract more sunlight, resulting in higher efficiency & a reduction in cooking time.

Furthermore, there has been a shift in consumer preference toward purchasing solar cookers manufactured with advanced materials such as high-temperature resistant ceramics & polymers to withstand extreme temperatures & provide greater durability to the solar cookers. Thus, the thriving demand for highly efficient solar cookers with enhanced technology to capture more sunlight is a new trend expected to further drive the revenue growth of the Global Solar Cooker market in the forecast years.

Global Solar Cooker Market Possible Restraint:

Inability to Use Solar Cookers in Bad Weather or at Night Posing a Hindrance to the Market - The limited use of solar cookers in sunny weather conditions is dramatically impeding the revenue growth of the Solar Cookers market, particularly in Columbia, So Tomé and Principe, Papua New Guinea, and the Solomon Islands, among others, due to higher precipitation rates in the countries. The high daytime temperatures in the Middle East states, including the UAE, Saudi Arabia, etc., throughout the year often retrain the residents from using solar cooktops due to their inability to cook outside at such high temperatures.

Further, the ineptitude to cook food in solar cookers at night due to the consistent requirement for solar power would continue to restrict their demand in geographies with high temperatures & continuous precipitation in the upcoming years as well.

Global Solar Cooker Market Growth Opportunity:

Surging Global Price of Natural Gas, to Create an Opportunity for the Adoption of Solar Cookers - As fossil fuel reserves have been exploited more extensively in historical times and as proven oil reserves have become less available, the energy crisis has become severe worldwide, creating a supply deficit for fossil fuel-derived products like natural gas & crude oil. This has resulted in a significant surge in the price of crude oil & LNG due to the presence of excess demand & limited supply, thereby leading consumers to switch towards the use of electric cooking appliances or fuel wood.

However, as both the alternatives result in a huge amount of CO2 emissions, governments & individuals are progressively shifting towards the usage of solar cookers, especially in countries where efficient sunlight is accessible.

Furthermore, prices for fossil fuel products are expected to climb over the coming years as a result of the geopolitical crisis between Russia & Ukraine, as well as the global market ban on Russian crude. In turn, providing great opportunities for revenue growth in the Global Solar Cooker market during the forthcoming period.

Global Solar Cooker Market (2023-28): Segmentation Analysis

The Global Solar Cooker Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment. It includes predictions for the period 2023–2028 at the global level. Based on the analysis, the market has been further classified as:

Based on the Type:

• Solar Box Cooker
• Solar Panel Cooker
• Solar Parabolic Cooker
• Others (Trough Cookers, and Evacuated Tube Cookers)

In the last few years, there has been an increased interest in Solar Parabolic Cookers due to the fact that they are capable of cooking food faster than other types of solar cookers. This has resulted in significant growth in the use of solar parabolic cookers around the world. Additionally, the ability of these cookers to fry & broil food is anticipated to widely contribute to their sales in both residential & commercial segments in the upcoming years.

Based on the Distribution Channel:

• Online
• Offline
  • Hypermarkets & Supermarkets
  • Retailers

Offline distribution channels held a dominant share historically, and the segment is anticipated to continue to hold a significant share in the upcoming years as well. This is due to the fact that solar cooker is an emerging product, and the need for installation, maintenance, and aftersales services is high, which is why residents frequently purchase solar cookers from registered distributors. Furthermore, a lack of awareness among residents regarding the appropriate solar cooker that is compatible with the geographical location and usage is triggering a rise in the sales of solar cookers from retailers.

Furthermore, purchasing an electronic product from the online segment frequently resulted in issues such as the sale of defective products, which required the consumer to wait longer for a replacement product. On the contrary, the ability to select from various portfolios in hypermarkets and retail stores, as well as inspect the product before purchasing, is anticipated to improve the revenue growth of the Solar Cooker Market from the online segment during 2023-2028.

Global Solar Cooker Market Regional Projection

Geographically, the global market expands across:

• North America
• Latin America
• Europe
• The Middle East & Africa
• Asia-Pacific

Geographically, the Asia-Pacific held a dominant share in the Global Solar Cooker market historically, and with the rising focus of the government as well as the manufacturers to boost the adoption of greener products, the region is expected to witness significant demand in the upcoming years as well. Solar power is one of the fastest developing industries in countries of the region, including China, India, Australia, Japan, etc., due to its geographical proximity. Hence, the government, residents, and manufacturers are increasingly harnessing solar power to contribute to the emission reduction initiatives of the regional countries.

Additionally, the market for solar-based products in the region is well established, owing to the presence of several manufacturers and improved government support for the deployment of solar-related products, which has led to higher awareness among both the rural and urban populations. As a result, these factors are heavily influencing the region's residents' adoption of solar cookers.

Global Solar Cooker Industry Recent Developments 

• 2022: Earth Cardboard CO. Ltd., a solar cooker manufacturer based in Japan, announced the development of an eco-friendly cooking utensil made of water-resistant cardboard by applying a varnish coating to the Eco Solar Cooker.
• 2022: Indian Oil Corporation Limited (IOCL) announced the development of a solar cooktop called "Surya Nutan" that can be used effectively in all-weather seasons and would initially be distributed in the Indian market.

Gain a Competitive Edge with Our Global Solar Cooker Market Report

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• This report also highlights current market trends & future projections, allowing business organizations to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
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