With Blackstone Products recently announcing another quarter of growth, the griddle segment is showing no signs of slowing down. Blackstone estimates that the addressable market for griddles is 66 million units, and they have just 6%. Could Traeger, who is no stranger to releasing new products, be planning to enter the griddle market?
There are some great griddles out there, like the Pit Boss Ultimate Griddle Series, but it’s a category largely dominated by Blackstone. They estimate that 80% of the griddles used in the US are made by them.
Traeger must be seeing opportunity in griddles, like other competitors, because they filed for a trademark for the name FLATROCK. The description of the trademark lines up with that of a new griddle product.
If they do decide to release the Flatrock griddle, it will be interesting to see if they will stick to using pellets as a fuel source. Gas is popular with griddles because of it’s temperature range, speed to heat-up and zoned heating through multiple burners.
While Traeger beat earnings for Q1 2022, they cautioned it with reaffirming their previous guidance. Perhaps they see the griddle category as an opportunity to expand into and increase growth. We’re excited to watch what happens with this as well as the other Traeger rumors out there.