Wok Market to See Huge Growth by 2031 | Bajaj electricals limited, Zwilling J. A. Henckels

According to a new report published by Allied Market Research, titled, "Wok Market," The wok market was valued at $1.7 billion in 2021, and is estimated to reach $3 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.The wok market size is mostly driven by the increase in residential and hospitality kitchens. Over the past few years, there has been an increase in residential and hospitality kitchens that are smaller and more efficient. Moreover, the increase in the catering and hotel industry at the global level because of the increased popularity of dinner out among working-class individuals.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐨𝐫 𝐅𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞: https://www.alliedmarketresearch.com/request-sample/17639

Leading Key Players:

The major players analyzed for the Wok industry are Bajaj electricals limited, Zwilling J. A. Henckels, TTK prestige limited, Tramontina USA, Inc., Scanpan A/S, Calphalon, Cuisinart, Supor, Target Brands, Inc., and Lodge cast iron.

Regional Analysis:

In 2021, Asia-Pacific accounted for 39.7% share in the wokmarket and is expected to maintain its dominance during the forecast period. However, North America and Europe are expected to possess the highest CAGRs, owing to the growing consumer awareness of the value of healthy living and an increase in television programs featuring food and recipes.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/checkout-final/754b921ad92007196aecd29db4271411

Key Findings :

-> By material type, the carbon steel segment was the highest revenue contributor to the market, with $680.6 million in 2021, and is estimated to reach $1,157.5 million by 2031, with a CAGR of 5.5%.
-> Depending on the application, the commercial segment was the highest revenue contributor to the market, with $1,020.5 million in 2021, and is estimated to reach $1,810.80 million by 2031, with a CAGR of 6.0%
-> As per distribution channel, the Specialty Stores segment was the highest revenue contributor to the market, with $574.3 million in 2021, and is estimated to reach $991.2 million by 2031, with a CAGR of 5.7%.
-> Region-wise, Asia-Pacific was the highest revenue contributor, accounting for $655.2 million in 2021, and is estimated to reach $1,159.4 million by 2031, with a CAGR of 5.9%.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧-𝐃𝐞𝐩𝐭𝐡 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐂𝐨𝐧𝐧𝐞𝐜𝐭 𝐓𝐨 𝐀𝐧𝐚𝐥𝐲𝐬𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/17639

By application, the market is segmented into household and commercial. The commercial segment is accounted for a major share of the market in 2021 and it is expected to grow at a significant CAGR during the forecasted period. In order to properly equip your kitchen, a commercial wok is necessary. Noodles, stir-fries, and a variety of other meals can be produced in large quantities in woks.

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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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