Global Cookware Products Market is expected to foresee significant growth. APAC to lead the growth!
- Himanshu Patni
- November 21, 2022
- CONSUMER GOODS
- Cookware Products Market, Cookware Products Market Growth, Cookware Products Market Share, Cookware Products Market Size, Cookware Products Market Trends
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The demand for cookware goods in the commercial and residential sectors is being driven by the growing preference for modular kitchens as well as rising living standards. Due to expanding consumer preference for modular kitchens, increased spending on home remodeling or improvement projects is also boosting product demand. Home renovation spending has increased at a 6% annual rate over the past three years starting in 2015, according to the Leading Index for remodeling activities. Additionally, manufacturers are collaborating with builders and contractors to provide the kitchen with the right cookware supplies.
The Cookware Products Market is expected to grow at a steady rate of around 6% owing to the rising awareness about health and hygiene among end-users. The rising living standards of people is encouraging them to buy the best quality products for their day-to-day lives. People across the globe are opting for Cookware Products that offer components that are biodegradable such as natural washing soda, coconut oil, plant-based enzymes, and mineral-based surfactants. All these factors will bring lucrative market opportunities for key players in the upcoming years.
Based on product, the market is segmented into Pots & Pans, Pressure Cookers, Cooking Racks, Cooking Tools, and Microwave Cookware. The pots and pans segment grabbed the major market share and dominated the market in 2020. The segment is anticipated to expand steadily over the course of the projected period due to the demand for colorful and multifunctional pans. However, the cooking tools would witness considerable growth during the forthcoming years, The growth in demand for these products is attributed to the consistent growth in the requirement for spoons used for cooking and serving.
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Based on the material, the market is categorized into Stainless Steel, Aluminum, Glass, and Others (Fiber, Ceramic, Plastics). Among these, the stainless-steel segment grabbed the major market share and dominated the market in 2020. After copper, aluminum is the best heat conductor. In most cases, natural aluminum combines with acidic food to give it a metallic flavor and a dull grey color. Numerous producers sell aluminium cookware that has been anodized, coated with stainless steel, or lined with a non-stick coating to address this drawback.
For a better understanding of the market adoption of the cookware products industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia Pacific region dominated the market and grabbed major market share in 2020 on account of continuous expansion of the residential sector and urban households coupled with major home improvement projects undertaken by consumers in the region, is boosting the demand for premium cookware.
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Some of the major players operating in the market include Groupe SEB, Werhahn Group, Gorenje Group, Meyer Corporation, Fissler GmbH, Tramontina USA Icnc., Newell Brands Inc., TTK Prestige Ltd., The Vollarath Co., and Hawkins Cookers Limited.
Global Cookware Products Market Segmentation
Market Insight, by Product
- Pots & Pans
- Pressure Cooker
- Cooking Racks
- Cooking Tools
- Microwave Cookware
Market Insight, by Material
- Stainless Steel
- Aluminum
- Glass
- Others
Market Insight, by Application
- Residential
- Commercial
Market Insight, by Distribution Channel
- Online
- Offline
Market Insight, by Region
- North America
- The United States
- Canada
- Rest of North America
- Europe
- Germany
- The United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
- Groupe SEB
- Werhahn Group
- Gorenje Group
- Meyer Corporation
- Fissler GmbH
- Tramontina US Inc.
- Newell Brands Inc.
- TTK Prestige Ltd.
- The Vollarath Co.
- Hawkins Cookers Limited
