USD 23.75 billion
Cookware Market Size, Share, Growth Analysis, By Product(Pots & Pans, Pressure Cooker, Cooking Racks, Cooking Tools), By Material(Stainless Steel, Aluminum, Glass, Others), By Application(Residential, Commercial), By Region - Industry Forecast 2024-2031
Report ID:
SQSG25I2003 |
Region:
Global |
Published Date: October, 2024
Pages:
165
|Tables:
92
|Figures:
76
Cookware Market Insights
Cookware Market size was valued at USD 23.75 billion in 2019 and is poised to grow from USD 25.28 billion in 2023 to USD 36.97 billion by 2031, growing at a CAGR of 6.5% in the forecast period (2024-2031).
The various kinds of pans and pots used in cooking are referred to as cookware. Cookware essentially refers to the containers used in kitchens for food preparation. On the stovetop or other cooktops, food is prepared using cookware. The market offers a wide variety of cookware. They have various internal surfaces, materials, and forms. While some of the materials used to make cookware are good at transferring heat, others trap it. While certain pan surfaces are naturally non-stick, others require seasoning.
The global cookware market is driven by factors such as widespread internet use, an increase in the number of food shows and blogs, and rising domestic use of cookware products. Additionally, the future is predicted to bring about new opportunities due to the rise in health consciousness and changes in consumer lifestyle. In contrast to other factors, consumers are more interested in the quality and performance of cookware products.
US Cookware Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Residential
Fastest Growth
Residential
Growth Rate
6.5% CAGR
Global Cookware Market ($ Mn)
Country Share for Asia Pacific Region (%)
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Cookware Market Segmental Analysis
The global cookware market segmentation is based on product, material, application, and region. Based on product the Cookware Market is segmented into pots & pans, pressure cookers, cooking racks, cooking tools, and microwave cookware. Based on material the Cookware Market is segmented into stainless steel, aluminum, glass, and others. Based on application the market is segmented into residential and commercial. Based on region the global cookware market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Cookware Market Analysis by Product
With a market share of almost 30% in 2021, the pots and pans segment dominated. Due to the need for colorful and multifunctional pans, the market for this sector is expected to expand gradually during the forecast period. 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.
Cookware Market Analysis by Material
In 2021, stainless steel had a revenue share of over 50.0 %, dominating the market. During the predicted period, the segment's growth rate would be encouraging. During the projection period, the stainless-steel segment would have significant growth. Cookware constructed of stainless steel is covered in stainless steel. 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 dishwasher, oven, and broiler safe, the market is constantly expanding.
Cookware made of aluminum is expected to see the fastest CAGR throughout the forecast period. Excellent heat conductor, aluminum. Cookware that is responsive and lightweight is produced when aluminum is reinforced by the addition of copper, magnesium, or other metals. The market for aluminum cookware has been driven by product innovation.
Cookware Market Analysis by Application
In 2021, the residential application segment's revenue share was above 75% of total revenue. During the forecast period, demand for cookware is expected to increase as a result of expanding residential buildings, rapid urbanization, and rising disposable income of people. During the forecast period, it is predicted that the commercial segment would expand at a quick CAGR. The market growth of the commercial category is driven by the expansion of hotels, restaurants, bakeries, and other food establishments.
Global Cookware Market By Application, (%)
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Cookware Market Regional Insights
In 2021, Asia Pacific had the highest revenue share (more than 40.0 %). With a sizable market share, the Asia Pacific region took the lead in the global cookware industry. Over the projection period, it is expected to grow quickly. The cookware market in the Asia Pacific is one of the fastest-growing in the world. It is a result of the rising demand for cookware in developing nations like China and India. In the upcoming years, the regional market is projected to be driven by changing lifestyles and rising disposable income in this area.
During the forecast period, the North American area is expected to experience a considerable CAGR. The market for high-end cookware in North America is growing as a result of the region's growing number of households, ongoing residential sector expansion, and significant home remodelling initiatives by local consumers. Customers in the area are likely to purchase expensive cookware to match their kitchen design.
Global Cookware Market By Geography
- Largest
- Fastest
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Cookware Market Dynamics
Cookware Market Driver
- Considering manufacturers are broadening their product lines for various industries where they have a variety of technological options, the demand for cookware items is increasing. The demand for cookware accessories like knives, spoons, and spatulas is increasing rapidly due to design advancements that provide physical comfort and relaxation while using products. Products are no longer limited to a specific market niche.
- The expansion of commercial kitchens, eateries, and restaurants is accelerating market expansion. The need for cookware is being driven by the commercial sector's rapid construction, particularly in the hospitality industry. For customers and restaurants, dining out now involves more than just eating. In the hospitality industry, customer retention goes beyond meal quality and is based on how well guests have been treated overall.
Cookware Market Restraint
- The primary factor limiting market expansion is the high demand from consumers for maintenance and repair services for various types of household appliances. Furthermore, the demand for smart cookware among people with lesser incomes is probably going to be constrained by its greater price. The expansion of well-known companies' businesses is being hampered by intense competition from regional industry competitors. These elements could slow market expansion.
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Cookware Market Competitive Landscape
Businesses that make cookware are making investments to lessen their carbon footprint and are switching to renewable energy sources, which will also help them lower operating and production expenses. In order to become more efficient, businesses are changing their business strategies and launching new goods for institutional customers. For instance, the Middleby Corporation announced the purchase of Welbilt in April 2022. By combining two complementary businesses, this acquisition sought to further both the core competencies in highly lucrative sectors and Middleby's global expansion plan.
Cookware Market Top Players Company Profiles
- Groupe SEB
- Meyer Corporation
- Newell Brands
- TTK Prestige
- Tramontina
- Cuisinart
- All-Clad Metalcrafters
- Zwilling J.A. Henckels AG
- Scanpan A/S
- Fissler GmbH
- Le Creuset
- Lodge Cast Iron
- Calphalon
- Mauviel 1830
- Staub
- WMF Group
- GreenPan
- Anolon
- Circulon
- Emile Henry
Cookware Market Recent Development
- In March 2022, the Tramontina Gourmet Tri-Ply Clad 8 Qt. Stock Pot with Lid is a newer model by Tramontina USA, Inc. The best materials are combined with European design in Tramontina cookware. The cookware is perfect for home and professional chefs who demand the highest level of performance and quality.
- In February 2022, the 10-inch octagonal cast iron from Finex Cast Iron is an updated version of their product that may be used for roasting, frying, sautéing, and other cooking methods. It is a multifunctional piece of cookware constructed of heavy metal. The majority of cast iron pans may be used with a variety of heat sources, including induction, gas, electric, and naked flames. They warm up gradually and steadily, but once hot, they keep the heat for a long time.
- In May 2021, in order to enhance flavor in each dish, Meyer Corporation unveiled a new AnolonX cookware series. Meyer U.S., which pioneered the development of hard anodized nonstick cookware with the release of Anolon in 1986, presents its latest engineering innovations in the line. Access to AnolonX is simple at Anolon.com and Williams Sonoma.
Cookware Key Market Trends
- People spent more time cooking and eating well during COVID-19, and they bought more things online. As a result, sales of cookware and other kitchen supplies online are rapidly growing. The main factors influencing consumer spending on cookware have been identified as working from home, buying purchases online, and having more spending freedom because they are not forced to pay for outside activity or travel. As a result of the growing adoption of technology and Internet-enabled technologies, several players in the global cookware market have increased their attention on e-commerce channels.
Cookware Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the pots and pans sector dominated with a market share of approximately 30% in 2021. Stainless steel dominated the market in 2021 with a revenue share of approximately 50.0 %. The residential application category accounted for more than 75% of overall sales in 2021. The Asia Pacific had the biggest revenue share in 2021. (more than 40.0% ). The North American region is predicted to experience a sizable CAGR during the projection period.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 23.75 billion |
| Market size value in 2031 | USD 36.97 billion |
| Growth Rate | 6.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cookware Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cookware Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cookware Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cookware Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cookware Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cookware Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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