Kitchenware Market
Report ID: SQMIG25I2022
Kitchenware Market Size, Share, Growth Analysis, By Product(Cookware, Bakeryware, Others), By Distribution Channel(Online, Offline), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25I2022 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|Tables:
62
|Figures:
75
Kitchenware Market Insights
Kitchenware Market size was valued at USD 62.01 billion in 2019 and is poised to grow from USD 64.72 billion in 2023 to USD 84.3 billion by 2031, growing at a CAGR of 4.4% in the forecast period (2024-2031).
The need for smart kitchen equipment is rising as a result of rising health and hygiene concerns, greater restaurant and food outlet penetration, a desire for smart & compact kitchen appliances, and an increase in the working population. The market for kitchen equipment is thus flourishing.
The market is primarily being driven by growing urbanisation and economic expansion in developing nations. In addition, a growing number of households, changing lifestyles, and increased disposable income have all boosted the product's demand over the past few years and are predicted to continue doing so over the forecast period.
Growing commercial sectors, particularly the hospitality industry, are having an impact on the segment's market expansion. The hospitality business is expanding quickly and has seen significant investment in developing regions like the Asia Pacific. In nations like Thailand and Malaysia, the number of hotels and resorts has increased as a result of the expanding travel trend. Due to the increased traffic, other industry players in the hospitality sector have been motivated to update their goods and services and buy additional goods, which has increased demand throughout the projection period.
US Kitchenware Market is poised to grow at a sustainable CAGR for the next forecast year.
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Kitchenware Market Segmental Analysis
Global kitchenware market is segmented based on the product, distribution channel, and region. Based on the product, the global kitchenware market is segmented as cookware, bakeryware. Based on distribution channel, the global kitchenware market is segmented as online, offline. Based on region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Kitchenware Market Analysis by Product
The market's fastest-growing product category is cookware, and during the projection period, it is anticipated to increase at an astounding rate. due to the high level of durability offered by high-quality, long-lasting stainless-steel tools. Additionally, it has a strong cooking ability. Stainless steel with many plies provides great cooking performance with quick and even heat distribution. Cookware has a smooth, non-porous, hard surface that makes washing it very simple. Cookware is safe to use since it enables the preparation of acidic foods without worrying about the taste or the possibility of hazardous substances seeping.
Kitchenware Market Analysis by Distribution Channel
Global kitchenware market has been segmented on the basis of distribution channel as Online, and Offline.
More than 80% of the overall revenue came from the offline segment, which dominated the market. The segment is being driven primarily by the fact that it is a traditional method of shopping and the presence of major businesses as Inter Ikea Group and Home Center, both of which offer a broad variety of goods at competitive prices. Another factor contributing to the growth of the segment is the customer group's understanding that online retailers would not successfully transport delicate items like ceramic and glass cookware. These are the main factors that, over the course of the forecast period, will fuel the expansion of the offline market sector worldwide.
The online market is anticipated to expand quickly, with a CAGR of 5.3% over the forecast period. The market is expanding as a result of increasing internet penetration and usage in rural areas. Young working consumers choose to shop online due to the ease of accessibility and door-to-door services with replacement and return promises. These are the main elements moving the segment along.
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Kitchenware Market Regional Insights
During the anticipated term, Europe will be a significant region for the kitchenware and housewares markets. due to the region's growth in the demographic, economic, and technical spheres. As they are so easily accessible and have advanced in technology, smart appliances are quickly becoming more and more popular in the region. Technology is fostering Internet accessibility and making it simple to operate from remote regions, which is supporting market expansion. Customers are being forced to prefer homemade cuisine due to a rise in health consciousness and the availability of a variety of cooking recipes online or through social media. These have increased demand for time-saving and practical cooking equipment. Additionally, buyers have been encouraged to purchase a product with superior features and brand value thanks to the higher income levels.
Asia Pacific is anticipated to have strong growth from 2022 to 2028, with a CAGR of 5.0%. Due to the significant demand from developing countries like China and India, the Asia Pacific area is the one with the strongest growth. The district market is expected to be driven by evolving lifestyles and rising disposable income during the projected period. An increase in households as a result of population growth and quick economic expansion is another important factor boosting market expansion in the area. Due to the growing popularity of visiting countries like Malaysia and Thailand, there are more hotels and resorts opening up in the area. These are the primary driving forces behind the expansion of the Asia Pacific area in the world market throughout the course of the projection period.
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Kitchenware Market Dynamics
Kitchenware Market Driver
- Increasing food consumption and the world's rapidly expanding population are two key reasons expected to drive market expansion for kitchenware worldwide. Other variables anticipated to help the target market's revenue growth include a rising desire to modernize kitchens and rising disposable income.
- Globally rapid digitization is having a significant impact on consumer power. Market participants had additional opportunity to engage with consumers because to mobile solutions and internet access. The market for kitchenware equipment has grown dramatically due largely to online platforms and e-commerce. Significant chances to create more sophisticated items, such networked products, are also presented by digitization.
Kitchenware Market Restraint
- The primary factor restraining market expansion is the high demand from consumers for maintenance and repair services for various types of household appliances. Additionally, the demand for smart kitchen equipment may be constrained by their greater price among people with lesser incomes. The expansion of well-known companies' businesses is being hampered by intense competition from regional industry competitors. These elements could slow the market's expansion.
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Kitchenware Market Competitive Landscape
Global kitchenware market is relatively fragmented, with a high level of competition. As there are established industry leaders and considerable setup expenses are necessary, the market has moderate to high entry barriers. Mergers and acquisitions, joint ventures, and design innovation are further market drivers. For instance, numerous manufacturers are developing creative layouts and clever kitchen concepts. To obtain an advantage over their rivals, manufacturers are investing more in research and development.
Top Players in the Global Kitchenware Market
- Meyer Corporation
- Newell Brands
- Groupe SEB
- Hamilton Beach Brands
- Conair Corporation
- ZWILLING J.A. Henckels AG
- Tupperware Brands Corporation
- KitchenAid
- Whirlpool Corporation
- S. C. Johnson & Son, Inc.
- Pyrex Cookware
- Rubbermaid Commercial Products
- Cuisinart
- All-Clad Metalcrafters
- Calphalon Corporation
- Anchor Hocking Company
- Le Creuset
- Lodge Manufacturing Company
- OXO International
- Wilton Industries
Kitchenware Market Recent Developments
- In June 2022, Trebonn, a young Italian kitchenware brand plans to enter the Indian market this summer. Known for its innovative approach to product design, Trebonn designs kitchenware products which combine ease of use and functionality with superior design and aesthetics
- In June 2022, Kitchen appliances brand TTK Prestige, which entered into the modular kitchen space with 51% stake in Ultrafresh for Rs 30 crore late last year, on Monday announced the launch of their first experience centre in Koramangala, Bengaluru.
Kitchenware Key Market Trends
- The primary trend in the global market is the inexpensive availability of kitchenware on numerous online shopping platforms, which provides consumers with a hassle-free buying experience.
- As the consumer group's buying habits alter as a result of the developing trend of smart kitchens, this trend is having an impact on market growth. The residential sector of the industry is expanding, which is accelerating market expansion. For instance, according to the 2011 Census, there were 78.48 million households in India, up from 52.06 million. In some nations, a growing population brought on by an increase in immigrants from other nations has increased household consumption, driving up market demand for the goods.
- The trend of moving abroad for job or school is also having an impact on market expansion. For instance, a sizable number of Indian consumers is migrating to North American nations like Canada and the United States, which has an effect on local product demand and ultimately drives up worldwide demand. Kitchenware that is often innovated encourages frequent purchases from consumers.
Kitchenware 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 utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global kitchenware market analysis, in terms of distribution channel, more than 80.0 % of income came from the offline segment, which dominated the market. The sector is primarily driven by the fact that it is a traditional manner of shopping and the existence of large manufacturers such as Inter Ikea Group and Home Center with a wide range of items and discounts. Additionally, one of the factors contributing to the market growth is the consumer assumption that online sellers will fail to deliver delicate items like ceramic and glass cookware.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 62.01 billion |
| Market size value in 2031 | USD 84.3 billion |
| Growth Rate | 4.4% |
| 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:-
|
| Historical Year | 2019 |
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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 Kitchenware 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 Kitchenware 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 Kitchenware 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 Kitchenware 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 Kitchenware Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Kitchenware 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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