Global Cookware Market to Hit $34.1 Billion by 2030: Allied Market Research
June 23, 2022
High internet penetration across the globe and surge in number of food shows and food blogging along with increased use of cookware products in residential use drive the global cookware market. The market across Asia-Pacific held the lion’s share in 2020, accounting for more than two-fifths of the market. The Covid-19 pandemic impacted the consumer goods industry due to declined performance of cookware industry and disrupted supply chain.
/EIN News/ -- Portland, OR, June 23, 2022 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global cookware 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 surge in number of food shows and food blogging along with increased use of cookware products in residential use drive the global cookware market. Moreover, surge in health consciousness and change in consumer lifestyle are expected to open new opportunities in the future.
- The Covid-19 pandemic impacted the consumer goods industry due to declined performance of cookware industry and disrupted supply chain.
- The hotel, restaurants, and fast-food retails were severely hit by the pandemic, which hampered the demand for cookware.
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The report segments the global cookware market on the basis of product type, material, distribution channel, and region.
Based on product type, the cooking pans segment held the largest share in 2020, accounting for nearly one-third of the market. However, the pressure cooker segment is projected to register the highest CAGR of 7.6% during the forecast period.
On the basis of material, the stainless steel segment held the largest share in 2020, contributing to more than two-fifths of the market. However, the nonstick segment is estimated to manifest the highest CAGR of 6.6% from 2021 to 2030.
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The global cookware market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2020, accounting for more than two-fifths of the market. Furthermore, the region is anticipated to portray the highest CAGR of 6.3% during the forecast period.
The global cookware market includes an in-depth analysis of the prime 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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