Cookware Market to Record an Exponential CAGR by 2030: Grand View Research Inc.

 Cookware Market Growth & Trends

The global cookware market is expected to reach USD 49.85 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.3% from 2024 to 2030. The rising instance of people who enjoy cooking at home is driving the market demand for cookware. In the scenario of wellness- and hygiene-driven choices, consumers have been opting for home-cooked meals to protect themselves from outside germs and viruses. Cooking reality shows have spurred an interest in mastering culinary skills and learning new cooking techniques as well as cuisines. This trend is positively influencing the sale of cookware. According to the New York Post in May 2020, ratings for programming on the Food Network were up by 25% in April and HGTV’s ratings were up by 22%, with 1.3 million viewers in primetime during the quarantine.

Moreover, millennials have significantly driven the popularity of cook-at-home meals, which in turn, is driving the growth of cookware products. More color, adaptable pieces for smaller spaces, and pieces that meet consumer’s individual needs are some of the trends shaping the market in the residential sector. The living standards of consumers have evolved and improved over time owing to a rise in disposable incomes and the migration of millennials to cosmopolitan cities.

The non-stick/ coated cookware segment is growing at fastest growth rate over the forecast period. The growing consumer preference for healthy recipes without added fats or oils and preserving food flavors have driven the demand for nonstick cookware across the globe. In addition, the harmful effects of Teflon coatings have led to innovation in products driving the market growth. In June 2023, Tefal, a cookware brand of one of the key European players Groupe SEB, launched RENEW, a new range of pots and pans made from 100% recycled aluminum, featuring the exclusive Inoceramic nonstick ceramic coating.

Pressure cooker is growing at fastest growth rate over the forecast period. Stainless steel and hard-anodized aluminum-based cookers are gaining popularity because they are long-lasting, lightweight, nonstick, and energy-efficient. Pressure cookers covered with hard anodized ceramic and aluminum, among other materials, are in increased demand. When compared to the stovetop variants, electric pressure cookers are more acceptable for use.

Sales through Online distribution channel is expected to propel the market growth over the forecast period. This can be attributed to technological advancements and the rising preference for online platforms to purchase cookware products as they offer convenience, right from product selection to delivery. A blog post from CYBERCREW.UK from March 2023 states that, in January 2022, e-commerce sales made up 27.1% of all retail sales in the U.K. Furthermore, the percentage of U.K. users who purchase online reached an astounding 87% in 2020.

Asia Pacific is fastest growing region in market growth over the forecast period owing to shifting trends in eating culture, such as the rising prominence of social and casual dining, have resulted in an increased demand for innovative cookware products in Asia Pacific. Furthermore, consumers in region are prioritizing convenience, healthier cooking options, and simplicity of cleaning, which is driving the demand for cookware due to the growing trend of home-cooked meals, particularly since the pandemic.

Manufacturers have been adopting strategies such as new product launches, partnerships, and mergers to gain significant market share and reach new audience. For instance, In January 2023, Groupe SEB had its partnership extended with GXO, a contract logistics provider. The partnership will provide Groupe SEB with additional warehouse space to support sustainable growth, enabling its omnichannel business to deliver a superior customer experience in the UK and Ireland using customized end-to-end supply chain solutions.

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Cookware Market Report Highlights

• Non-stick/ coated dominated the market owing to the growing popularity of modular kitchens and rising living standards are driving the need for nonstick cookware items in both the residential and commercial markets
• The pots & pans segment dominated the market owing to rising demand for multi-purpose and colorful pans across the globe
• The cast iron cookware segment is expected to grow at the fastest rate over the forecast period due to it is ideal for stews, soups, casserole dishes, and baking bread. It offers exceptional cooking performance and versatility, making it suitable for various culinary projects
• The online distribution channel is set to grow at the fastest rate due to its convenience, flexibility, and consumer comfort with this channel
• Asia Pacific is projected to emerge as a lucrative region for market. This can be attributed to the growing middle class, increasing disposable income, and the popularity of cookware in the region

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Cookware Market Segmentation

Grand View Research has segmented the global cookware market report on the basis of type, product, material, application, distribution channel, and region:

Cookware Type Outlook (Revenue, USD Million, 2018 - 2030)

• Standard /Non-Coated
• Non-Stick/ Coated
  • Teflon (PTFE) Coated
  • Ceramic Coated
  • Enamel Coated
• Others

Cookware Product Outlook (Revenue, USD Million, 2018 - 2030)

• Pots & Pans
• Pressure Cooker
• Cooking Racks
• Cooking Tools
• Bakeware
• Microware Cookware

Cookware Material Outlook (Revenue, USD Million, 2018 - 2030)

• Stainless Steel
• Carbon Steel
• Cast Iron
• Aluminum
• Glass
• Stoneware
• Others

Cookware Application Outlook (Revenue, USD Million, 2018 - 2030)

• Residential
• Commercial

Cookware Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Supermarket/ Hypermarket
• Specialty Stores
• Online
• Others

Cookware Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Indonesia
  • South Korea
  • Australia & New Zealand
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa (MEA)
  • South Africa
  • Saudi Arabia

List of Key Players in Cookware Market

• Groupe SEB
• Werhahn Group
• Target
• Meyer Corporation
• Fissler
• Tramontina
• Newell Brands Inc.
• SCANPAN
• TTK Prestige Ltd.
• The Vollrath Co., L.L.C.
• Hawkins Cookers Limited

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.