The global cookware market was valued at USD 11.91 billion in 2020 and is expected to grow at a CAGR of 6.8% during the forecast period. The continual rise in the business operations of hotels & restaurants as well as food industries, coupled with the increasing home renovation and remodeling activities, are the few prominent factors that are anticipated to accelerate the cookware market growth over the upcoming period.
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Moreover, the availability of non-stick cookware and rapid urbanization is further enhancing the preference for cookware across the globe. Cookware can be defined as the type of food preparation equipment usually used in the kitchens, such as baking sheets, pans, cooking pots, and others.
Cookware operates on the range cooktop or on a stove, which is available in various shapes & sizes, materials, and different inside surfaces in the market. Some materials may conduct and retain heat well. Several pots and their lids have some low thermal conductance materials on their handles or knobs, which is convenient for the users to pick cookware, which further contributes to the considerable market demand for end-user.
The cookware market has witnessed a significant progression in the past few years, supported by the fact that manufacturers are offering various types of cookware with innovations which gains massive popularity among the end-user, as well as rapid urbanization and rising disposable income, are expected to cater to raising the demand in the global cookware market.
Apart from that, the escalating demand for eco-friendly and sustainable products in order to grow awareness of health & fitness and cause no harm to the environment is another major reason to proliferate the adoption of cookware in the global market. For instance, numerous chefs around the globe pick eco-friendly pans and non-stick cookware that will not harm the health of the consumer.
For instance, Cuisinart’s offers green gourmet non-stick cookware, which diminishes carbon emission and consumes less energy. It is a ceramic-based non-stick coating that is free from petroleum and supports the conservation of natural, resources and offers preparation of food without the risk of toxicity or exhaustion of the environment. Therefore, these factors may stimulate the market growth globally in the near future.
The market is primarily segmented on the basis of product, material, application, and region.
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Based on the material type segment, stainless steel is the largest contributor of revenue in the global market in 2020 and is likely to retain its supremacy in the forthcoming period. Owing to it offers various characteristics such as corrosion & temperature resistance, high tensile strength, easy formability, and fabrication, environmental friendly and durable. In addition, it gains huge popularity among the population as it does not react with acidic and alkaline edibles as well as transmit the metallic savors, and is safe from oven, boiler, and dishwashers. Thus, these properties of stainless steel may positively influence market growth across the globe.
The aluminum segment accounted for the fastest-growing revenue share in 2020 over the forecast period of 2021-2028. The demand for aluminum is anticipated to grow primarily due to it is pocket-friendly light cookware tied with properties such as fast heating, evenly heat conduction, corrosion-free. Natural aluminum commonly imparts metallic flavor and responds with alkaline or acidic food as well as tint food with dull gray.
To overcome this limitation, various manufacturers present aluminum cookware lined with non-stick coatings and covered with stainless steel. Several players perform anodization on the aluminum cookware to make it more striking, durable, and easy to clean by applying a non-stick coating. These advancements in aluminum cookware may lead the market growth in the near future.
Among the application segment, the residential sector segment is projected to spot the leading position in the international market. Factors such as rapid urbanization, increasing residential constructions projects, and the growing trend of nuclear families will stimulate the market growth.
Moreover, the growing inclination for kitchen remodeling will further lead the market growth. In 2019, twenty-nine percent of the consumers modernized their kitchens to personalize a novel home purchasing as per the report issued by Houzz Inc. Hence, these development activities in the residential households are likely to grow at a significant rate may lead the segment in the global market.
The commercial sector segment is anticipated to accelerate at a lucrative rate in the forthcoming years. Growing construction of restaurants, hotels, entries, and bakeries worldwide may propel the segment development. Increasing numbers of tourism and traveling activities may offer a huge opportunity for the market growth as increasing consumer preference for the highly-rated hotels or luxury stays.
Therefore, these shifting trends may boom the adoption of premium-quality cookware in restaurants and hotels. Accordingly, these factors may attribute the market growth in the upcoming period.
Geographically, Asia Pacific is the largest contributor in terms of revenue in the global market owing to the increasing popularity and adoption of home remodeling as well as renovation, along with the development of the residential sector in this region. Furthermore, escalating disposable income is also a major driving factor that leads to the significant demand for kitchenware appliances in the region.
Accordingly, the demand for cookware from this region is frequently budding at an expedited rate as per the global scenario. Additionally, from some past decades, the single-person household has been increasing at a high pace because of growing economic independence as well as the rising trend of demographics across the region. Thus, an intensifying trend of the single-person household may create a lucrative demand for cookware in the forecasting period.
Moreover, North America is expected to project the highest CAGR in the worldwide market in the future scenario. The demand for cookware is expected to increase due to the constant market growth of the residential sectors in terms of rising numbers of households in the region. Also, demand for premium cookware is boosting by the adoption of home advancement projects by the consumers tied with increasing investments of high-end cookware for decorating kitchens across the region. Thus, these factors are gaining significant prominence across the region.
Some of the major players operating the global market include All-Clad Group, Anolon, Calphalon, Circulon, Cuisinart, Farberware, Fissler, Groupe SEB, MEYER Corp., Target-Made by Design, Tefal, Tramontina, Werhahn Group, WMF, and Zwilling.
Market size value in 2020
USD 11.91 billion
Revenue forecast in 2028
USD 18.42 billion
6.8% from 2021 - 2028
2016 - 2019
2021 - 2028
Revenue in USD billion and CAGR from 2021 to 2028
By Product, By Material, By Application, By Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
All-Clad Group, Anolon, Calphalon, Circulon, Cuisinart, Farberware, Fissler, Groupe SEB, MEYER Corp., Target-Made by Design, Tefal, Tramontina, Werhahn Group, WMF, and Zwilling