The global cookware market size is expected to reach USD 18.42 billion by 2028 according to a new study by Polaris Market Research. The report “Cookware Market Share, Size, Trends, Industry Analysis Report, By Product (Pots & Pans, Wok Turner, Whisk, Spoon, Soup Ladle); By Material (Stainless Steel, Aluminum, Glass, Others); By Application; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The key factors boosting the global industry consists of increasing standard of living is tied with the growing trend of modular kitchens may lead the industry in both commercial and residential sectors. In addition, several manufactures may contract with various builders for home construction, with the most suitable home cookware in the kitchen will further fuel the global market.
Furthermore, the rising construction of commercial spaces such as group centers, marriage halls, clubs, and lounges present numerous growing prospects for self-services and buffets that may positively influence the demand for the product in the commercial sector.
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Millennials are the major contributors to industry growth as they drive the acceptance of cook-at-home meals. Home-cooked food offers various benefits such as boost energy, availability of fresh and healthy food, wholesome meals, and many others. For instance, in 2020, around 1.8 billion many people. Therefore, these factors may positively influence the industry growth in the forecasting period.
Major Participants such as WMF, Anolon, Calphalon, Circulon, Zwilling, Farberware, Fissler, Werhahn Group, Groupe SEB, MEYER Corp., All-Clad Group, Target-Made by Design, Tramontina, Tefal, and Cuisinart, are some of the key players operating worldwide.
Numerous manufactures are opting for different policies or marketing strategies for expanding their business operations worldwide. For instance, in March 2021, SMEG introduced its collection of the product by collaborating with a Milan-based studio. This collection will be available in the three colors red, black and cream as well as each cookware is manufactured with aluminum and completed with non-stick coating. These will help the user for easy cleaning & care and fast & even heat distribution. Glass lids helps users for monitoring the whole cooking process.
Polaris Market Research has segmented the cookware market report on the basis of product, material, application and region:
Cookware, Product Outlook (Revenue, USD Billion, 2016 – 2028)
- Pots & Pans
- Wok Turner
- Soup Ladle
Cookware, Application Outlook (Revenue, USD Billion, 2016 – 2028)
Cookware, Material Type Outlook (Revenue, USD Billion, 2016 – 2028)
- Stainless Steel
Cookware, Regional Outlook (Revenue, USD Billion, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa