Press release
Kitchenware Market Outlook 2024: Exclusive Report By The Business Research Company | Whirlpool Corporation, Newell Brands Inc., Groupe SEB, Wilton Industries Inc., Conair Corporation, Meyer Corporation
Kitchenware Market Size
The Business Research Company offers in-depth market insights through Kitchenware Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The kitchenware market size has grown strongly in recent years. It will grow from $65.44 billion in 2023 to $69.21 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to culinary trends, innovation in cookware, urbanization, healthy eating.
The kitchenware market size is expected to see steady growth in the next few years. It will grow to $84.02 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to e-commerce growth, sustainability and eco-friendly products, smart kitchen appliances, global culinary diversity. Major trends in the forecast period include modular and customizable kitchenware, sous vide and precision cooking, vintage and retro designs, zero-waste kitchen.
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Market Segmentation:
The main product types of kitchenware are cookware, bakeware and others. Cookware refers to a set of kitchen appliances and containers made especially for cooking that provide effective heat distribution and cooking surfaces for a variety of culinary procedures and are used for cooking, sautéing, boiling and frying dishes. These products are distributed through online and offline channels to be used in residential and commercial kitchens.
Major Driver - Expansion Of Food Retail And Hospitality Industry Drives Growth In The Kitchenware Market
The increasing number of food retail chains, restaurants and hotels is expected to propel the growth of the kitchenware market going forward. Food retail chains refer to networks of interconnected stores offering diverse food products. At the same time, restaurants and hotels provide prepared meals, beverages and accommodations with varying on-site dining options for consumers. The expansion of food preparation leads to increased demand for kitchenware as more dining facilities require equipment, utensils and appliances, thereby triggering a ripple effect in the kitchenware industry's growth. For instance, in August 2023, according to the US Bureau of Labor Statistics, a US-based federal fact-finding agency, the number of establishments in food services and drinking places in private industry for the 4th quarter of 2022 was 694,267, an increase of 4.28% compared to 665,736 during the same period in 2021. Therefore, an increasing number of food retail chains, restaurants and hotels will drive the kitchenware market.
Competitive Landscape:
Major players in the kitchenware market are Whirlpool Corporation, Newell Brands Inc., Groupe SEB, Wilton Industries Inc., Conair Corporation, Meyer Corporation, Tupperware Brands Corporation, Rubbermaid Commercial Products, Hamilton Beach Brands Holding Company, Anchor Hocking Company, Fissler GmbH, TTK Prestige Ltd., ITW Food Equipment Group LLC, ZWILLING J.A. Henckels AG, Scavolini S.p.a, Calphalon Corporation, OXO International Ltd., Gibson Overseas Inc., Wusthof Dreizack, Lodge Manufacturing Company, Viners (Rayware Limited), Tramontina USA Inc., Clipper Corporation, The Cookware Company, Pyrex Cookware, All-Clad Metalcrafters LLC, Anolon, Mauviel USA Inc., Kenwood Limited, Le Creuset.
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Top Trend - Revolutionizing Kitchenware With Smart Appliance Technologies
Major companies operating in the kitchenware market are adopting smart appliance technologies to enhance user convenience, streamline cooking processes and provide personalized culinary experiences. Smart kitchen appliances are technologically advanced cooking and food preparation devices equipped with features like sensors, connectivity and automation to streamline and enhance kitchen tasks. For instance, in January 2023, VersaWare Technologies Inc., a US-based manufacturer of smart kitchen appliances, launched the next generation of smart kitchen appliances with a nutrition AI approach to the health and wellness space with a user-friendly appliance line composed of two connected smart kitchen appliances, including a mixing bowl and a cutting board. It also launched the VersaWare mobile app, which helps users cook meals that satisfy their preferred nutritional goals. Leveraging OpenAPI, their nutrition system incorporates an extensive product database, enabling users to scan various brands. Using VersaWare, users can scan barcodes for packaged items and input details for fresh ingredients, which are then used for calculations within the digital appliances. The AI component enables the real-time creation of diverse meals based on nutritional profiles, presenting comprehensive meal nutrition information.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Kitchenware Market Characteristics
3. Kitchenware Market Trends And Strategies
4. Kitchenware Market - Macro Economic Scenario
5. Kitchenware Market Size And Growth
…..
27. Kitchenware Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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