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The cookware market share is expected to increase by USD 8.99 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.8%.
This cookware market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers cookware market segmentation by product (aluminum, stainless steel, and others) and geography (APAC, Europe, North America, the Middle East and Africa, and South America). The cookware market report also offers information on several market vendors, including AB Electrolux, Cristel USA, De Buyer, Gorenje Group, Groupe SEB, Hawkins Cooker Ltd., Illa Spa, Le Creuset Group AG, Meyer International Holdings Ltd, Newell Brands Inc., Nordic Ware, Robert Bosch Stiftung GmbH, SCANPAN USA Inc., Supreminox SA, The Middleby Corp., The Vollrath Co. LLC, TTK Prestige Ltd., Whirlpool Corp., and Wilh. Werhahn KG among others.
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The rapid penetration of regular kitchen stoves using lpg fuel in emerging countries is notably driving the cookware market growth, although factors such as growing threat from unorganized sector may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the cookware industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Cookware Market Driver
One of the key factors driving growth in the cookware market is the rapid penetration of regular kitchen stoves using LPG as fuel in emerging countries in APAC. Over the last few years, the extensive growth of liquefied petroleum gas (LPG) as the primary fuel used for cooking applications, especially in emerging countries in APAC, such as India, and China, has subsequently reflected in the sales of these cookware products. Leading consumers of LPG in APAC such as India, China, and Indonesia are expected to continue to witness high adoption of cooking gas in households during the forecast period. Government initiatives have also encouraged the growth in the application of LPG cylinders for cooking applications. The growth in penetration of LPG in these key countries that have a high customer base is expected to boost the sales of compatible cookware products.
Key Cookware Market Trend
The induction-compatible copper cookware is another factor supporting the cookware market share growth. With the growing popularity of induction cooktops, there has been a rise in customer demand for multi-cooktop compatible cookware that can be used for both gas and induction stovetops. Copper is a preferred cookware material owing to its even heat distribution properties. While copper cookware continued to be a niche market in 2018, several copper cookware vendors are providing a range of induction-compatible copper pots and pans. These pans are lined with magnetic stainless steel instead of traditional tin linings, thus making them compatible with induction stovetops. The growing popularity of induction cooktops due to their overall cost efficiency and faster cooking times is expected to continue well into the forecast period. Subsequently, multi-cooktop compatible cookware is expected to remain a key trend during the forecast years.
Key Cookware Market Challenge
The growing threat from the unorganized sector will be a major challenge for the cookware market during the forecast period. Over the last few years, the presence of the unorganized sector in the global cookware market, especially in developing countries in APAC such as India and China, has been a major hurdle for market vendors. The presence of a diverse customer base in these emerging economies poses market penetration challenges to organized market vendors. According to TTK Prestige, the unorganized market in India sells cookware products such as pressure cookers and non-stick cookware at around 20% cheaper than organized players. Organized vendors such as TTK Prestige and Hawkins Cookers have lost significant market share to the unorganized sector due to low market penetration in rural areas which account for a high customer base in countries such as India and China.
This cookware market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global cookware market as a part of the global housewares and specialties market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the cookware market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the cookware market encompasses successful business strategies deployed by the key vendors. The cookware market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The cookware market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the cookware market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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42% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for cookware in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The rapid penetration of gas stovetops and LPG connections in developing countries such as India and China will facilitate the cookware market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The closure of several physical retail outlets during the first half of 2020 led to disruptions in the supply and demand for cookware across various countries in the region. However, reopening of physical retail outlets with the relaxation of lockdown restrictions across the region, gradual improvement in consumer purchasing behavior toward cookware, increase in the sales of personalized products, and rapid penetration of online distribution channels in developing countries will ensure the dominance of APAC in the global cookware market during the forecast period.
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The cookware market share growth in the aluminum segment will be significant during the forecast period. Factors such as increasing health awareness among consumers and a growing emphasis on oil-free diets have accelerated the demand for non-stick cookware products over the last few years. Additionally, non-stick cookware also offers the convenience of easy cleaning and handling to end-users. Aluminum cookware is being increasingly adopted in emerging economies such as India and China. With several government initiatives in these countries spurring the rapid penetration of kitchen stovetops and LPG cylinders, several customers increasingly prefer aluminum cookware over costlier alternatives such as stainless steel and copper.
This report provides an accurate prediction of the contribution of all the segments to the growth of the cookware market size and actionable market insights on post COVID-19 impact on each segment.
Nonstick Cookware - The market share is expected to increase by USD 1.29 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.28%.
Induction Cookware - The market share is expected to increase by USD 1.37 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4.2%.
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Cookware Market Scope |
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Report Coverage |
Details |
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Page number |
135 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.8% |
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Market growth 2022-2026 |
$ 8.99 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
6.51 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 42% |
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Key consumer countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
AB Electrolux, Cristel USA, De Buyer, Gorenje Group, Groupe SEB, Hawkins Cooker Ltd., Illa Spa, Le Creuset Group AG, Meyer International Holdings Ltd, Newell Brands Inc., Nordic Ware, Robert Bosch Stiftung GmbH, SCANPAN USA Inc., Supreminox SA, The Middleby Corp., The Vollrath Co. LLC, TTK Prestige Ltd., Whirlpool Corp., and Wilh. Werhahn KG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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