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Kitchenware Market Growth, Growth Demand, Key Drivers, Forecast To 2033
Kitchenware Market
Kitchenware Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $84.02 billion In 2028 At A CAGR Of 5.0% :
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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Kitchenware Market Major Segments
The kitchenware market covered in this report is segmented -
1) By Product: Cookware; Bakeware; Other Products
2) By Distribution Channel: Online; Offline
3) By End-User: Residential Kitchen; Commercial Kitchens
Key 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.
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Prominent 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.
Kitchenware Market Players
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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Largest And Fastest Growing Region In The Market
North America was the largest region in the kitchenware market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in kitchenware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Kitchenware Market Report Structure
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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