Global cookware market to reach $34.1 billion by 2030: Allied
Portland, OR, June 23, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the global kitchenware market generated $19.0 billion in 2020 and is expected to reach $34.1 billion by 2030, growing at a CAGR of 6.0% from 2021 to 2030.
High internet penetration across the globe and increasing number of cooking shows and food blogs along with increased usage of kitchenware for residential use is driving the global kitchenware market. Moreover, the rise of health consciousness and the changing lifestyle of consumers are expected to open up new opportunities in the future.
- The Covid-19 pandemic has impacted the consumer goods industry due to declining performance in the kitchenware industry and disruption in the supply chain.
- Hotels, restaurants and fast food outlets have been hit hard by the pandemic, hampering demand for kitchenware.
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The report segments the global kitchen utensils market on the basis of product type, material, distribution channel and region.
By product type, the cookware segment held the largest share in 2020, accounting for almost a third of the market. However, the pressure cooker segment is expected to register the highest CAGR of 7.6% during the forecast period.
Based on materials, the stainless steel segment held the largest share in 2020, contributing more than two-fifths of the market. However, the non-stick segment is estimated to have the highest CAGR of 6.6% from 2021 to 2030.
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The global kitchen utensils market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific market took the lion’s share in 2020, accounting for more than two-fifths of the market. Furthermore, the region is expected to show the highest CAGR of 6.3% during the forecast period.
The global cookware market includes an in-depth analysis of major market players such as Conair Corporation, Groupe SEB, Fissler GmbH, Meyer Corporation, Hawkins Cookers Limited, Prestige, Target Brands Inc., Newell Brands, Vinod Cookware and Wilh. Werhahn KG.
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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. Pawan Kumar, CEO of Allied Market Research is essential to inspire and encourage everyone associated with the business to maintain high quality data and help customers in every way possible to achieve success. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.