Cookware Market

Cookware Market Research, 2030

The global cookware market was valued at $19.0 billion in 2020, and is projected to reach $34.1 billion by 2030, growing at a CAGR of 6% from 2021 to 2030.

COVID-19 has impacted the consumer goods industry, As a result of the pandemic crisis, the overall performance of the cookware industry has dropped. The disruption of the supply chain has affected the manufacturing and distribution process. Pay reduction has been implemented for the factory workers. Stay at home orders have stopped the people from going outside, for purchasing such products. Hotels, restaurants, and fast food retails are the major commercial end users of the cookware, but due to the prevailing lockdown situation, the demand for cookware has been put on halt.

The cookware market is segmented into Product Type, Material and Distribution Channel.

Cooking is a decade long activity, which one performs out of necessity or has a personal interest, or takes it up as a profession, because food is the basic necessity for human survival. Mud pots or earthen cookware were traditionally used to cook food. But with the evolution of human beings and the development of economies & technology gave rise to the production of modern cookware products and techniques.

Cookware is a cooking utensil that is used in the kitchen to prepare food. The cookware is mostly made up of material that has property that does not melt easily. Cooking utensils or cookware include pots, pans, or baking dishes. One of the key reasons for growth in popularity of cookware industry is that the high internet penetration across the globe and increasing number of food shows and food blogging. This, in turn, increases the usage of cookware products in the residential use. These factors are the substantial drivers of the global cookware market growth. Moreover, increase in health consciousness along with change in consumer lifestyle and rise in awareness toward health and the rising cookware market trend of cooking food at home are expected to fuel the market growth in the near future. In addition, adoption of cloud kitchen in the food service industry is anticipated to create lucrative opportunities for market expansion during the forecast period.

The cookware market is segmented on the basis of type, material, distribution channel and region. Depending on type, the market is categorized into pots & pans, cooking pans, ovenware, pressure cooker, wok, griddle and cooking accessories. By material, it is classified into stainless steel, aluminum, glass and non-stick. By distribution channel, it is bifurcated into online and offline. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

In 2020 the cooking pans segment accounted for the highest cookware market share, garnering 32% share, owing to the fact that with cooking pans cooking can be easy and time saving. Food in the cooking pans can cook at higher speed. In addition, Cooking through the cooking pan keeps the original taste of any food being cooked. Hence, food are cooked more quickly in smaller portions making food taste better than cooking it in a long duration. This segment captured the maximum share in 2020.

Furthermore, this segment is expected to grow at a significant rate during the forecast period. This is attributed to the fact that food is basic and very essential need. In addition, various types of food can cook in same type of pan, which can reduce purchasing of other cooking utensils Also, popularity of the food shows is increasing, owing to an increasing penetration of internet across the world, this can be the one of the factor fueling the demand for cooking pans.

By material, the stainless steel segment highest contributor to the cookware market size with share of around 45% in 2020, due to fact that stainless steel is more durable and it does not corrode easily as well as it is easier to maintain. In addition, the nonstick segment is anticipated to grow with the highest CAGR of 6.6% during the forecast period, owing to availability of wide variety of nonstick kitchenware in brand outlets, stores, and online retail.

In 2020, the offline segment dominated the global market. However, online is expected to grow at the highest CAGR of 7.1% throughout the cookware market forecast period, owing to easy accessibility offered by e-commerce platforms boost their adoption in the consumer goods market, thus becoming a popular medium for the purchase of consumer goods. Offline segment contributed almost 71.5% in the global market.

In 2020, Asia-Pacific dominated the global market. However, LAMEA is expected to grow at a significant CAGR of 6.1% throughout the forecast period, owing to rise in number of restaurants and hotels, due to development of tourism industry and considerable economic growth. Asia-Pacific along with North America contributed almost 69.2% in the global. The market in North America is primarily driven by high adoption of advanced products such as smart oven and smart deep fryers, and increase in demand for fast food in the region.

The key players operating in the cookware market focus on expansion as the prominent strategy to overcome competition and to maintain as well as improve their market share in the global market. The key players profiled in the report include Conair Corporation, Fissler GmbH, Groupe SEB, Hawkins Cookers Limited, Meyer Corporation, Newell Brands, Prestige, Target Brands Inc., Vinod Cookware and Wilh. Werhahn KG.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cookware market analysis from 2020 to 2030 to identify the prevailing cookware market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the cookware market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global cookware market trends, key players, market segments, application areas, and market growth strategies.

 Cookware Market Report Highlights