The ovenware market size was valued at $1059.4 million in 2021 and is estimated to reach $2016.65 million by 2031, registering a CAGR of 6.7% from 2022 to 2031. In 2021, the composite ovenware segment accounted for the majority of the total ovenware market.
Ovenware is used to make food in the oven and serve them. They are made of materials that can resist heat so that the product will last long. Ovenware made with aluminum is primarily used more as they pass heat well and are economical but many consumers also purchase the ones made with stainless steel as they are durable and inexpensive. As per an article by the government of Canada, stainless steel is the most popular material used for the manufacturing of cookware. There are also factors such as looks, health benefits of baked food coupled with adverse health effects of fried foods, which is driving the ovenware market.
The rising popularity of ovenware in almost every region, owing to adoption of baking as a hobby coupled with the taste and health benefits baked food offers is expected to drive the ovenware market growth. Along with this rising population coupled with rapid rate of urbanization is also expected to boost the market demand. Proliferation of e-commerce in the field of ovenwares is expected to boost the market growth in the future.
Many manufacturers are opening their own e-commerce sites, and are offering several discounts and offers, which attracts many consumers to purchase ovenware online. Further enhancements in online shopping experiences of customers for ovenwares propel the market growth.
There has been a significant rise in the number of people taking up baking as a pastime. There are several reasons why individuals are taking up baking as a pastime, including the fact that it fosters creativity and is a wonderful way to unwind. Owing to the pandemic, people began baking as a fad, but it has since developed into a lifelong interest for them. The Australian Institute of Family Studies (AIFS) found that 46% of Australians were likely to spend more time baking or crafting, which is projected to increase demand in the market.
As a result, these factors fuel market expansion.
The number of women working has risen quickly over the world. Females must prepare meals in the morning before leaving for work, so they prepare it at night and reheat it in the morning using an oven. Women have benefited from ovens and ovenware because they reduce the amount of time and work needed to prepare meals. According to a World Bank report, more than half of all women (ages 15 to 64) participate in the labour market in five of the seven regions. However, only around 25% of those regions are in South Asia, the Middle East, and North Africa. As a result, these factors drive the market's expansion because both partners' efforts will shorten cooking times, which will boost demand for ovenware.
However, a large portion of the public refrains from using plastic ovenware due to the widespread assumption that it is unhealthy to do so. According to a Times of India report, heating plastic is bad for food. However a report from the Moffitt Cancer Center claims that plastic wraps and containers that have the Food and Drug Administration, mark are safe to use in the microwave and have not been proven to cause cancer. The FDA has not established whether or not a container is dangerous if it does not carry a microwave-safe label.
Dining out has become increasingly popular, which is impeding the expansion of the residential ovenware market. The use of ovens and ovenware at home has decreased as individuals have a tendency to eat out more frequently. According to the National Library of Medicine, rising female employment, rising household income, and rising single-family housing have all contributed to an increase in eating-out expenses over the previous few decades. As a result, these constraints hinder the development in ovenware acceptance in households.
However, The demand for ovenware has increased as a result of the rapid expansion of the travel and tourism sector. The hotel business is recovering along with the growth of the tourism and travel sectors because these two sectors are interdependent. The ovenware market is predicted to benefit greatly from this in the future. In the first 10 months of 2021, 8,56,337 international visitors were recorded, according to a report by the Ministry of Tourism of the Government of India. Thus, it is expected that these factors will fuel market expansion.
It is simple to observe a noticeable increase in the rate of urbanization. The need for ovens and ovenware has increased as urbanization has grown. Ovenware usage rises as people move from rural to urban locations because urban areas have significantly more disposable income than rural ones do. According to a World Bank report, 56% of the world's population, or over 4.4 billion people, live in cities. Given that cities create more than 80% of the world's GDP, urbanization can help the market grow sustainably if it is properly managed by boosting productivity and fostering the emergence of new ideas and inventive products. These products will drive market expansion.
Buying behavior of consumers has been changed by their perception of the risk associated with COVID-19. To reduce the risk of infection, consumers are using more online services and their focus was on acquiring daily essentials. On the other hand, global trade restrictions are putting further strain on the global economy. Lack of raw materials may add to issues experienced by industry players. The ovenware market witnessed a severe positive impact, owing to the COVID-19 pandemic. Sales of ovenware used by households is attributed to rise in interest of people toward cooking and baking. There has been a negative impact on the commercial segment as there has been proper shutdown of hotels, restaurants, and food chains. This was attributed to the fact that people have ample time to adopt new hobbies, which resulted as the driver for the market as people started cooking and baking as a hobby.
Segmental Overview
The ovenware market is segmented on the basis of product type, materials, end user, distribution channel, and region. By product type, the ovenware Market is classified into baking sheets, loaf pans, cake pans, muffin pans, pizza pans, and others. Depending on material, the market is categorized into stainless steel, copper, aluminum, and plastic &nonstick coatings. By end user, it is categorized into commercial and household. By distribution channel, it is divided into offline and online. By region the market in analyzed in North America, Europe, Asia Pacific and LAMEA.
By Product
Depending on the product type, the other segment dominated the market in 2021, garnering around one-fifth of the market share; however, the pizza pan is expected to grow at the highest CAGR of 7.8% from 2022 to 2031. In addition, Households in the upper middle and top strata of society typically employ the others section. They are employed to cook or prepare food. The oven's temperature should change depending on the type of ovenware. The demand for ovenware will rise as a result of the dramatic increase in oven usage. According to a research by the U.S. Bureau of Labor Statistics, microwaves are used in more than 90% of American households. Since these ovenware products may be used to cook and reheat food on both stovetops and ovens, demand for them is on the rise. The market for the other sector will grow significantly since there is a high demand for ovens and because ovenware is convenient to use on both stoves and an oven.
By Material
Depending on the material, the stainless steel segment dominated the market in 2021, garnering around one-third of the market share; however, the plastic and non-stick coatings is expected to grow at the highest CAGR of 8.8% from 2022 to 2031. In addition, the most common material used for ovenware is stainless steel. It is the most widely used cookware in North America because it is affordable and durable. Because to its strength and resistance to wear and tear, it is more in demand. According to the stainless steel vision paper 2047, India needed between 3.7 and 3.9 MT of stainless steel. According to a USGS report, iron and steel account for nearly 95% of the annual tonnage of metal produced in the U.S. and around the world. Due to its advantages including durability and wear and tear resistance, stainless steel ovenware will see a surge in demand.
By End User
Depending on the end user, the commercial segment dominated the market in 2021, garnering majority of the market share; however, the household is expected to grow at the highest CAGR of 7.6% from 2022 to 2031. In addition, the commercial segment, which currently holds 79.12% of the worldwide ovenware market, is anticipated to expand as a result of the booming hospitality sector. Around 70.5% of all food-away-from-home sales in 2021 were attributable to full-service and fast-food restaurants, the two largest divisions of the commercial food service market, according to a research by the U.S. Department of Agriculture. The food service and retail sectors in the United States provided around $2.12 trillion worth of food in 2021. Food expenses for consumption away from home increased to 55% in 2021 from 50.9% in 2020, returning to pre-pandemic levels, while expenditures for consumption at home decreased to 45% in 2021. The market for the category is anticipated to grow as a result of the hospitality industry's expansion.
By Distribution channel
Depending on the distribution channel, the offline channel segment dominated the market in 2021, garnering majority of the market share; however, the online is expected to grow at the highest CAGR of 8.0% from 2022 to 2031. In addition, ovenware may be purchased and returned swiftly at retail locations, which is one of the many benefits of using offline sales channels. Also, clients may visit these stores and select from a large selection of ovenware in the presence of highly knowledgeable sales staff who can assist them in choosing the finest product based on their needs. As a result of receiving personalized attention and advice from sales representatives, this helps to improve both the customer experience and customer satisfaction rate. Several clients visit offline businesses because they may physically touch the merchandise before making a purchase there. As a result, these elements fuel market expansion.
By Region
Region wise, North America dominated the market in 2021, garnering a market share of 38.2%. Because to the rapid growth of the urban population and rising disposable income, North America is the global leader for ovenware. Due to its ease, a large number of consumers in this area are switching to ovenware, which helps the market grow. The largest revenue in this industry is a result of rising adoption of a healthy lifestyle and high disposable income.
Competitive Analysis
Some of the major players analyzed in this report are Fissler GmbH, Groupe SEB, Meyer Corporation, Motiba Silicone Pvt. Ltd., Nordic Ware, The Vollrath Company, LLC., Tramontina, USA PAN, Vinod Cookware, and Wilh. Werhahn KG.
Some Examples of Product Launch in the Global Ovenware Market
- In May 2021, Meryer Corporation introduced the new cookware collection Anolon X. This is built with SearTech to overcome problems such as improper oil spreading on the pan.
Some Examples of Expansion in the Global Ovenware Market
- In March 2021, Nordic Ware expanded its warehouse and manufacturing area at its headquarters, owing to surge in demand in the cooking and baking segments.
- In January 2023, The Vollrath Company, LLC expanded its business by creating a global product portfolio under the Vollrath International umbrella, including products from Vollrath’s U.S. and Pujada’s European offerings.
Some Examples of Partnerships in the Global Ovenware Market
- In June 2022, Vinod Cookware partnered with ZestMoney, a digital EMI platform. This will provide easier payment options such as EMI to customers.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of current trends, estimations, and dynamics of the global ovenware market from 2021 to 2031 to identify the prevailing market opportunities.
- The Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global industry.
- The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
- The report includes analyses of the regional as well as global market, key players, market segments, application areas, and growth strategies.
Ovenware Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 2 billion |
 Growth Rate | CAGR of 6.7% |
 Forecast period | 2021 - 2031 |
 Report Pages | 280 |
 By Type |
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 By Material |
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 By End-Users |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | Motiba Silicone Pvt Ltd., Fissler GmbH, Vinod Cookware, The Vollrath Company, LLC., Groupe SEB, Meyer Corporation,, Wilh. Werhahn KG, Tramontina, nordic ware, usa pan |
Analyst Review
Rise in adoption of baking as a hobby and awareness toward consumption of healthy food boost the market growth. Massive popularity of ovenware in almost every part of the world is attributed to increase in trend for baked foods as they are healthy and tasty.. Furthermore, increase in number of commercial bakeries, increase in female workforce, launch of non-stick baking utensils, and rise in concerns regarding diseases caused by unhealthy fried foods are some of the factors that propel the ovenware market growth. Rise in popularity of ovenware in developing regions such as Asia-Pacific with very large population also propels the market growth.
The global ovenware market size was valued at $1059.4 million in 2021 and is estimated to reach $2016.65 million by 2031.
The global Ovenware market registered a CAGR of 6.7% from 2022 to 2031.
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The forecast period in the Ovenware market report is from 2022 to 2031.
The top companies that hold the market share in the Ovenware market include Fissler GmbH, Groupe SEB, Meyer Corporation, Motiba Silicone Pvt. Ltd., Nordic Ware, The Vollrath Company, LLC., Tramontina, USA PAN, Vinod Cookware, Wilh. Werhahn KG.
The ovenware market is segmented on the basis of type, material, end-user, distribution channel, and region.
The ovenware market witnessed a severe positive impact, owing to the COVID-19 pandemic. Sales of ovenware used by households are attributed to the rise in interest of people in cooking and baking.
North America will dominate the ovenware market by the end of 2031.
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