The Global Cookware Market size is expected to reach $18. 6 billion by 2027, rising at a market growth of 13. 6% CAGR during the forecast period. Cookware refers to the different types of pans and pots used in cooking.
New York, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Cookware Market By Application, By Product, By Material Type, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06131525/?utm_source=GNW
Cookware and bakeware are basically vessels that are utilized for food preparation in kitchens. Cookware is used to cook food on the stove or other cooktops, while bakeware is used to bake food items in oven. Some utensils act as cookware as well as bakeware.
There are varieties of cookware and bakeware available in the market. They come in different shapes, materials, and inside surfaces. Some materials used in making cookware are good in conducting heat, while some retain heat. Some surfaces of cookware are non-sticky in nature while some need seasoning. The pots and their lids handles are created with materials that have low thermal conductance. These materials include bakelite, plastic, or wood. These make them easy to handle without the need of oven gloves.
Advancement of technology and its implementation in designing non-stick cookware is expected to boost the market growth. It is also expected to bring market competitiveness and forcing the players to come up with a new product with unique features. Manufacturers are brought scratch-resistant, equal heat distribution, and low oil-consuming non-stick cookware to attract consumers. With the consumer’s growing desire for color utensils, some companies are now offering colored non-stick cookware to match their desire. Leading manufacturers from the cookware market are focused on prioritizing R&D and new innovations. This will resonate with the growing consumption of non-stick cookware products like non-stick saute pan, frying pans, roasting pans, and stockpots.
During the covid-19 pandemic, the demand for cookware and bakeware are increasing rapidly. It is mainly due to work from home culture, people are bound to be at their home that compels them to cook at home. The rise in online shopping and increasing focus on health and wellness are the main factors that lead to an increase in demand for cookware during COVID-19. The kitchen nowadays has become a focal point in the home that is why sales of products including cookware have been increased. Many consumers are now ready to invest in branded cookware as they have saved some extra funds by not spending on things like sports, entertainment, and travel during the pandemic situation. They have shifted that saving to their fitness and improving the home environment and wellness.
Based on Application, the market is segmented into Residential and Commercial. The Residential market dominated the Global Cookware Market by Application in 2020, growing at a CAGR of 13.3% during the forecast period. The Commercial market is expected to witness a CAGR of 14.2% during (2021 - 2027).
Based on Product, the market is segmented into Pots & Pans, Spoon, Wok Tumer, Soup Ladle and Whisk. The Pots & Pans market dominated the Global Cookware Market by Product in 2020, growing at a CAGR of 12.9 % during the forecast period. The Spoon market is experiencing a CAGR of 11.9% during (2021 - 2027). Additionally, The Wok Tumer market is estimated to grow at the highest CAGR of 15% during (2021 - 2027).
Material Type Outlook
Based on Material Type, the market is segmented into Stainless Steel, Aluminum, Glass and Others. The Stainless-steel segment acquired the highest revenue share of the market in 2020. The segment would show promising growth rate during the forecast period. The stainless-steel segment would show significant growth during the forecast period. Stainless steel cookware is made as a cladding of stainless steel.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia Pacific emerged as the dominating region in the global cookware market with a significant market share. It is anticipated to expand swiftly over the forecast period. The Asia Pacific is among the fastest-growing regional market of cookware. It is due to the increasing demand for cookware in developing countries including India and China. The lifestyles of the people are changing in this region and increasing disposable income is likely to drive the regional market in the coming years.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Groupe SEB, Newell Brands, Inc., MiddleBy Corporation, Werhahn KG, Target Corporation, Fissler GmbH, Gorenje Group, Meyer Corporation (Anolon), Cuisinart Corporation (Conair Corporation), and Tramontina Multi S.A.
Strategies deployed in Cookware Market
May-2021: Meyer Corporation introduced a new AnolonX cookware collection with the latest technology to maximize flavour in each dishes. The new collection showcases the new engineering advancements from Meyer U.S. that pioneered hard anodized nonstick cookware with the introduction of Anolon in 1986. AnolonX is easily accessible at Williams Sonoma and Anolon.com.
Apr-2021: The Middleby Corporation announced the acquisition of Welbilt. This acquisition aimed to combine two complementary businesses, boosting the Middleby growth strategy into main markets across the globe and also boost the core capabilities in highly attractive segments.
Feb-2021: The Middleby Corporation expanded its global footprints by establishing a 40,000-square foot facility in the Dallas area. The expansion represents the company’s offerings in the field of beverage, cooking, automation, and IoT. This facility is known as the Middleby Innovations Kitchen, which features more than 150 pieces of equipment.
Dec-2020: The Middleby Corporation acquired United Foodservice Equipment Group, a manufacturer of global quality foodservice equipment. This deal supports the company’s prevailing footprint and also expanding its offerings in targeted growth markets.
Sep-2020: Meyer Global unveiled 6-piece essential kitchenware set as part of the latest Accent series. The series includes a matte black finish and a touch of gold, which has been crafted by a motley crew of food-nerd engineers, designers & researchers who are out to change how people perceive cooking & kitchenware utensils/appliances.
Jul-2020: Groupe SEB took over a majority stake in StoreBound, a New York City-based maker of stylish and sometimes tech-forward kitchen gear. This acquisition aimed to mark the first exit amidst, the latest cohort of stylish, youth-focused house & cookware brands to come out of the New York startup scene in the last decade that includes Chefman and Gourmia, also the latest venture-backed cookware brands Great Jones, Caraway and Pattern Brands.
Oct-2019: Groupe SEB acquired KRAMPOUZ, a French manufacturer of domestic and professional cooking appliances. This acquisition focused on improving both Groupe SEB’s Professional and premium Consumer ranges.
Oct-2019: Calphalon launched a new assortment of products developed to gain improved culinary results in the kitchen. This launch includes products like The Calphalon Contemporary SharpIN Nonstick Cutlery, The Calphalon Classic Nonstick Cookware with No-Boil-Over Insert Set, The Calphalon Premier Countertop Safe Bakeware, The Calphalon Temp iQ Espresso Machine, The Calphalon IntelliCrisp 2 Slice Toaster, with Grinder and Steam Wand.
Jun-2019: Tramontina came into partnership with Walmart, an American multinational retail corporation. The partnership aimed to introduce the Build Your Own Cookware Set concept. This concept provides users with the choice of purchasing only the specific cookware pieces they want, without investing in the whole set.
Oct-2018: Calphalon released a premium line of Kitchen Appliances to deliver Chef-Like Quality at Home. This new line of products includes a blender, countertop oven, slow cooker, coffee maker, waffle maker and multi-grill, enabling at-home chefs to provide great results across their kitchen.
Oct-2017: Calphalon introduced its new innovation, Calphalon Premier Space Saving nonstick and stainless steel cookware. The nonstick and stainless steel product line would provide exceptional cooking outcomes.
May-2017: Meyer Canada signed an agreement to acquire the manufacturing and wholesale distribution operations of Padinox. Padinox is best known for producing industry-leading cookware, these assets would offer Meyer with Canadian manufacturing offerings that will support its global cookware operations and enable it to better serve the whole North American market.
Scope of the Study
Market Segments covered in the Report:
• Pots & Pans
• Wok Tumer
• Soup Ladle
By Material Type
• Stainless Steel
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Groupe SEB
• Newell Brands, Inc.
• MiddleBy Corporation
• Werhahn KG
• Target Corporation
• Fissler GmbH
• Gorenje Group
• Meyer Corporation (Anolon)
• Cuisinart Corporation (Conair Corporation)
• Tramontina Multi S.A.
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