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A16433 | Pages: 276 | Charts: 64 | Tables: 160 |
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.
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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.
[PRODUCTTYPEGRAPH]
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.
[MATERIALGRAPH]
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.
[DISTRIBUTIONCHANNELGRAPH]
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.
[REGIONGRAPH]
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 Market Segments
Key Market Players