Cookware Market Share Analysis, Key Segments, Competitive Landscape, and Market Size & Estimations

According to a new report published by Allied Market Research, titled, "Cookware Market by Product Type, by Material, by Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020-2030". The global cookware market was valued at $19.0 billion in 2020, and is estimated to reach $34.1 billion by 2030, growing at a CAGR of 6% from 2021 to 2030. The report offers an extensive analysis of changing market trends, key segments, top investment pockets, regional scenario, Porter's Five Forces, and competitive scenario.

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Cooking is an activity that one performs out of necessity or has a personal interest, or rather takes it up as a profession, because food is the basic necessity for human survival. Traditionally, mud pots or earthen cookware were used to cook food. But with the evolution of human beings and the development of economies & technology gave rise to the production of modern cookware products and techniques. Due to this, the cookware industry has started expanding.

An increasing number of chefs, the growing popularity of cooking shows, inclination of both men and women in cooking practices, engagement of children in cooking to try out new dishes, increase in popularity of international level cooking competitions, and the advent of new dishes requiring specialized cookware are becoming popular cookware market trends and it is expected to drive the demand for cookware in the market.

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Using non-stick cookware enables less oil utilization while cooking and it is also easy to wash as there are no remains of food stuck on the cookware. Also, non-stick cookware is available in different shapes, sizes, colors, and materials, which supports its market growth. Therefore, non-stick market is projected to witness growth significantly during the forecast period. Rise in business-related travel and increase in number of food joints such as hotels & restaurants fuel the cookware market growth because of commercial end users.

In 2020, by material, the stainless steel segment acquired the maximum cookware market share of around 45%, and is anticipated to grow with the healthy CAGR of 6.0% during the cookware market forecast period. This has attributed to rise in stainless steel is more durable and it does not corrode and it does not get affected by heat easily. And it is easier to maintain. In addition, stainless steel and aluminum material cookware does not react with food and it keeps the food healthy.

However, materials such as nonstick cookware is a utensil whose surface is engineered in such a way that the risk of food items to stick on the cookware minimizes. A coating of a smooth texture (non-stick coating) on non-stick cookware prevents the food from sticking to the utensil or from getting burned or overcooked. A variety of non-stick cookware is present in the global market, coated by using different raw materials such as Teflon, aluminum, enameled iron, ceramic, and many others.

By region, Asia-Pacific is expected to witness the highest growth rate of 6.3% during the forecast period, owing to increase in adoption of westernization among the consumers and their rise in disposable income are few of the major factors supporting the growth of cookware demandand will creates the cookware market opportunities.

The key players profiled in the report include Conair Corporation, Fissler GmbH, Groupe SEB, Hawkins Cookers Limited, Meyer Corporation, Newell Brands, Prestige, Target Brands Inc., Vinod Cookware and Wilh. Werhahn KG.

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Key Findings of The Study:

○ Region wise, Asia-Pacific is anticipated to lead the cookware market in 2030, growing at a CAGR of 6.3%, from 2021 to 2030.
○ By type, the cooking pans segment occupied nearly 32% of the global market share in 2020.
○ By material, the stainless steel segment dominated the overall market in 2020, and is expected to grow at a CAGR of 6.0% during the forecast period.
○ The nonstick segment is anticipated to grow at a significant CAGR of 6.6%.

The research provides answers to the following key questions:

○ What is the estimated growth rate of the market for the forecast period 2020-2030?
○ What will be the market size during the estimated period?
○ What are the key driving forces responsible for shaping the fate of the Cookware Market during the forecast period?
○ Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Cookware Market?
○ What are the prominent market trends influencing the development of the Cookware Market across different regions?
○ What are the major threats and challenges likely to act as a barrier to the growth of the Cookware Market?
○ What are the major opportunities the market leaders can rely on to gain success and profitability?

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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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