Press release
Global Cookware Market To Reach A Valuation Of US$ 41.6 Billion By The End Of 2032
Global cookware sales are estimated at US$ 21 billion at present. Fact.MR predicts the global cookware market to reach a valuation of US$ 41.6 billion by the end of 2032 expanding at a CAGR of 7.1% during 2022-2032.
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Why is the Global Cookware Market Experiencing High Growth?
"Cookware Producers Moving towards Sustainable Energy Models"
Cookware manufacturing companies are investing in reducing their carbon footprint and are moving towards sustainable energy models, which will also help them reduce operational and production costs. Companies are shifting their business models to increase efficiency and are introducing new products for institutional clients; cookware that does not include PTFE and PFOA, which releases harmful fumes while heating.
"Emergence of Diverse Range of Cookware Product Offerings"
Demand for cookware products is rising because manufacturers are diversifying their product lines for different industries where they have a pool of choices in terms of technology. Nowadays, products are not restricted to a particular segment, and demand for cookware accessories such as knives and spoons & spatulas is growing at a tremendous pace because of design development, which provides physical ease and relaxation while using the product.
Companies such as Group SEB and Meyer Corporation are refining their existing products with improved designs and features. Induction cookware products come under a humongous product portfolio. Many developing countries such as India, Iran, and Indonesia are encouraging new market players through various means.
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"Market Witnessing Continuous Cookware Product Innovation"
Product innovation has been driving the aluminium cookware market. Digitalization creates awareness about technological advancements in different products, which is ultimately driving the revenue of companies. Companies upgrading existing products with novel technology eventually improve their product portfolio.
For instance, companies have developed a PTFE-free material made from heat-resistant materials that prevent contamination, especially when the temperature of the product rises. These are mostly being used in hotels and restaurants.
For example, Teflon coatings for stainless steel cookware offer high resistance to corrosion for various stainless steel substratum grades. Some non-stick cookware products of Teflon last 4 times longer than other non-stick products available in the market.
Consumers are focusing on the quality and performance of cookware products as compared to other dynamics. The residential sector accounts for a high share of cookware demand. As such cookware manufacturers are working on price reduction by decreasing operating costs in terms of raw materials and supply chain.
Competition Landscape
Group SEB, Meyer Corporation, Fissler GmbH, Hawkins Cooker Ltd., TTk Prestige, Hisense, The Middleby Corporation, Glen Dimplex Group, The Vollrath Co. LLC, and Werhahn KG are some of the top companies in the cookware market.
Cookware Brands from the top two tiers have started using PTFE-free materials to manufacture non-stick cookware products and are diversifying their product portfolios.
Integration of advanced technology in cookware products increases product lifecycle. Key cookware manufacturers are also focusing on minimizing operating costs to increase net profits.
Fact.MR has provided detailed information about the overall strategies adopted by key players in the cookware market, along with their detailed overviews of cookware market analysis by product type, including SWOT analysis and sales generated from target cooking products.
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Key Segments of Cookware Industry Research
Cookware Market by Product Type:
Pots and Pans
Pressure Cookers
Cooking Accessories
Wok Turners
Whisks
Spoons and Spatulas
Soup Ladles
Tongs and Forks
Others
Cookware Market by Material:
Ceramic Cookware
Stainless Steel Cookware
Aluminium Cookware
Cast Iron Cookware
Others
Cookware Market by Compatibility:
Conventional Bottom
Induction Compatible
Cookware Market by End User:
Household/Residential
Commercial/HORECA
Hotels
Full-Service Restaurants
Fast Food Outlets/Quick Service Restaurants
Caterers
Cafeteria
Others
Cookware Market by Sales Channel:
Offline Sales of Cookware
Convenience Store
Departmental Store
Homeware/Gift Stores
Supermarkets/Hypermarkets
others
Online Sales of Cookware
e-commerce Websites
Company Websites
Cookware Market by Region:
North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa
Fact.MR has provided detailed information about the overall strategies adopted by key players in the cookware market, along with their detailed overviews of cookware market analysis by product type, including SWOT analysis and sales generated from target cooking products.
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