Increasing Spending on Modular Kitchens is Escalating the Demand for Cookware Products Market

 

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 motivators of the market growth of cookware products.

The Cookware Products Market is expected to grow at a steady rate of around 6% owing to the growing popularity of meals prepared at home has been greatly influenced by millennials. Some of the trends reshaping the residential cookware industry include more color, flexible pieces for smaller spaces, and items that cater to consumers' specific needs. In addition, the expansion of commercial kitchens, eateries, and restaurants is fueling the market's 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. Customer retention in the hospitality industry is influenced by more than just the quality of the cuisine and relies on how well the guests were treated all around.

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 According to UnivDatos Market Insights (UMI)’ research report “Global Cookware Products Market”, the market is expected to witness robust growth during the forecast period (2022-2028).  A growing number of food service outlets across countries is contributing to the growth of the market. As per the U.S department of agriculture, the food service and food retailing industries supplied about USD 1.79 trillion worth of food in 2019. In 2020, the food service and food retailing industries supplied about USD 1.69 trillion worth of food.

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 application, the market is segmented into residential and commercial. The residential category grabbed the major market share and dominated the market in 2020. The market is being driven primarily by the increase of new residential buildings, 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.

APAC to witness extensive growth

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. APAC is anticipated to grow at a substantial CAGR during the forecast period owing to the growing number of food and beverage manufacturing establishments. However, the North American region would witness considerable growth during the forthcoming years.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Cookware Products market are 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” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.        

Market Segmentation:

1.      By Product (Pots & Pans, Pressure Cooker, Cooking Racks, Cooking Tools, Microwave Cookware)

2.      By Material (Stainless Steel, Aluminum, Glass, Others)

3.      By Application (Residential, Commercial)

4.      By Distribution Channel (Online, Offline)

5.      By Region (North America, Europe, Asia-Pacific, Rest of the World)

6.      By Company (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.)

Key questions answered in the study:

1.      What are the current and future trends of the global Cookware Products industry?

2.      How the industry has been evolving in terms of type, drive type, and application?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global Cookware Products industry?

5.      What is the customer orientation, purchase behavior, and expectations from the global Cookware Products suppliers across various region and countries?