Global Cookware Market Overview
Cookware Market Size was valued at USD 24.33 Billion in 2022. The cookware market industry is projected to grow from USD 26.01 Billion in 2023 to USD 44.35 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.90% during the forecast period (2023 - 2032). Spending more on house renovations or improvements, as well as millennia’s' preference for cooking at home are the key market drivers accelerating market expansion.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Market CAGR for cookware is being driven by the increased urbanization. A cooking tool known as cookware is used in the kitchen to prepare food. The majority of the material used to create the cookware has the ability to resist melting. Pots, pans, and baking dishes are examples of cookware or cooking implements. The widespread use of the internet, the rise in food shows, and the rise in food blogging are some of the main factors contributing to the popularity of cookware. As a result, cookware products are used more frequently in household settings. These elements are the main propellers of the growth of the cookware market.
Additionally, urbanization was a major factor in the market's growth since it created a burgeoning middle class and increased consumer desire for convenience in the midst of busy metropolitan lifestyles. The urban market, particularly in affluent cities, is where kitchen cookware is in more demand. Increasing urbanization and product innovation are two more major drivers of the market for kitchen cookware. The demand for luxury and premium residences is driven by rising urbanization levels, creating a promising future for the usage of luxury cookware and premium kitchen appliances. It is predicted that the demand for kitchen appliances will be driven by an increase in excess income and a rise in the working population in metropolitan countries. One potential target market for lifestyle products is high-income groups.
Given the escalating rivalry among brick-and-mortar retailers and the growing amount of time people spend online, it is anticipated that the growth in online sales of cookware will continue. Additionally, consumers are being encouraged to choose online shopping over traditional in-store purchases by the simple financing options and multiple discounts offered by e-Commerce behemoths like Flipkart and Amazon. For all consumer purchases, online shopping has emerged as a significant retail channel. Online shopping for kitchen appliances gives customers the opportunity to quickly and easily compare a variety of features and prices from a number of merchants.
For instance, the Travel and Tourism Research Association estimated in March 2021 that 170 million Americans attended some type of restaurant every day in 2018. As a result, increased profitability for restaurants and performance will definitely create a number of opportunities for the cookware industry. Thus, result in driving the cookware market revenue.
The cookware market segmentation, based on Product includes Pots & Pans, Pressure Cooker, Cooking Racks, Cooking Tools, and Microwave Cookware. The pots & pans segment dominated the market. This is due to the need for colorful, multipurpose cookware. Consumers buy pans and pots based on their demands, thus these products must satisfy a consumer's individual criteria. Customers favor a wide range of features, patterns, and colors.
The cookware market segmentation, based on Material, includes Stainless Steel, Aluminum, Glass, and Others (Fiber, Ceramic, Plastics). The stainless steel category generated the most income. Due to the material's attributes, such as the fact that it does not react with acidic or alkaline foods, does not give a metallic flavor to food, and is suitable for use in the dishwasher, oven, and broiler, the market is expanding steadily.
The cookware market segmentation, based on Application includes Residential, Commercial. The residential segment dominated the market. The market is being driven primarily by the increase of new residential building, increased urbanization, and the rise of nuclear families. Thus, it is anticipated that in the upcoming years, these changes in the residential household category would fuel the need for cookware.
The cookware market segmentation, based on distribution channel, includes Offline, and Online. The offline category generated the most income. The offline distribution channel offers significant advantages to customers such as greater variety, reduced expenses, and prominent presentation of brands. All of these features, together with the market's expansion, make this channel the perfect venue for a wide range of customers.
Figure1: Cookware Market, by Distribution channel, 2022&2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American cookware market area will dominate this market; the demand for high-end cookware is rising as the residential sector continues to expand as a result of the rising number of homes in the area as well as significant home remodeling initiatives performed by local residents. Customers in the area are likely to purchase expensive cookware to match their kitchen design.
Further, the major countries studied in the market report are The US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.
Figure2: COOKWARE MARKET SHARE BY REGION 2022 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe cookware market represents the second-largest market share. Europe has historically been a strong market because of its high disposable incomes and preference for cooking at home. Further, the German cookware market held a dominant market share, and the UK cookware market was the European region's fastest-growing market.
The Asia-Pacific Cookware Market is anticipated to see the fastest CAGR between 2023 and 2032. Over the projected period, there is expected to be significant demand for cookware items due to an increase in the number of home remodeling and renovation projects and increased disposable income. Moreover, China’s cookware market held a dominant market share, and the Indian cookware market was the Asia-Pacific region's fastest-growing market.
Leading market players are putting a lot of money on R&D to extend the range of their goods, which will accelerate the growth of the cookware market. Additionally, market participants are engaging in a range of strategic initiatives to increase their worldwide reach, with important market developments additionally, market participants are engaging in a range of strategic initiatives to increase their worldwide reach. To grow and endure in an increasingly competitive and challenging market environment, cookware industry must provide reasonably priced goods.
One of the main business strategies employed by manufacturers is to produce locally to reduce operational expenses in the cookware industry to develop market sector and provide benefits to customers. In recent years, the cookware industry to develop market sector and provide benefits to customers. Major players in the cookware market, including Groupe SEB; Werhahn Group; Target; Meyer Corporation; Fissler; Tramontina; Newell Brands Inc.; SCANPAN, and others, invest in operations for research and development in an effort to improve market demand.
Groupe SEB is the largest cookware maker in the world and a sizable French conglomerate that makes small appliances. All-Clad, IMUSA, Tefal (including OBH Nordica), Krups, Moulinex, Rowenta, and WMF Group are notable brand names connected to Groupe SEB. The Groupe SEB website claims that despite intense competition from low-cost Chinese rivals, they have been able to keep their sales levels consistent. They now manufacture a sizable chunk of their product lines in China. Its headquarters are in the Lyon suburb of Ecully. In 2019, Groupe SEB increased the security of its press releases by using the Certidox solution. It ensures readers of the authenticity of its press releases by demonstrating they have truly been issued by the company and their content is compliant with what the company has written.
Target is an American retail company with its corporate headquarters in Minneapolis, Minnesota, and a chain of discount department stores and hypermarkets. It is a part of the S&P 500 Index and the seventh-largest retailer in the US. One of the biggest privately held American-owned employers in the country is the business. Businessman George Dayton established the company in Minneapolis in 1902, and it has grown through the years through development and acquisition. In 2021, Favorite Day, a new brand from Target that sells baked goods, snacks, candies, premium ice cream, cake-decorating tools, beverage mixers, and mocktail ingredients, was unveiled.
Key Companies in the cookware market include
Cookware Industry Developments
June 2022: The Svachh Duo gas stove was introduced by TTK Prestige, the top kitchen equipment brand in India. The Svachh Duo has liftable burners that were included as part of its ease-of-use and safety design. This allows home cooks to raise the burners for incredibly simple cleaning.
July 2020: StoreBound, a business that develops new products in collaboration with creators and licensing partners and supplies them to stores throughout the world, has received investment from Groupe SEB.
February 2020: WMF introduced the Silit Montano range of nonstick frying pans, which are made of aluminum and have a stone-like appearance.
Cookware Material Outlook
| Report Attribute/Metric | Details |
| Market Size2022 | USD 24.33 Billion |
| Market Size 2023 | USD 26.01 Billion |
| Market Size2032 | USD 44.35 Billion |
| Compound Annual Growth Rate (CAGR) | 6.90% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Material, Application, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, German, France, UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil |
| Key Companies Profiled | Â Groupe SEB; Werhahn Group; Target; Meyer Corporation; Fissler; Tramontina; Newell Brands Inc.; SCANPAN; TTK Prestige Ltd.; The Vollrath Co., L.L.C.; Hawkins Cookers Limited |
| Key Market Opportunities | ·        Demand for the product is also being boosted by increased spending on renovation or home improvement initiatives. |
| Key Market Dynamics | ·        Due to worries about climate change and deforestation, consumers are requesting sustainable products more and more. |
Cookware Market Highlights:
Frequently Asked Questions (FAQ) :
In 2022, the size of the worldwide cookware market was estimated at USD 24.33 billion.
During the forecast period, 2023-2032, A CAGR of 6.90% growth in the market is predicted.
North America held the biggest market share globally.
Target, Meyer Corporation, Fissler, Tramontina, Groupe SEB, Werhahn Group, and Newell Brands Inc. are the major players in the market.
In 2022, the pots and pans category ruled the market.
The Offline channel dominated the market with the highest share.
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Research Analyst Level II I have a degree in engineering (civil), with masters in business administration (marketing). with more than 4 years of experience in market research and consulting, i am involved in end-to-end process of market research, proposals, project kickoffs and delivery. i have research knowledge and expertise in consumer goods/packaging domain. also i have worked for various other domains like construction & equipment. effectively managed and delivered more than 60 report studies for regional as well as global clientele.
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