The global cookware market is anticipated to grow at a considerable CAGR of 6.5% during the forecast period (2024-2031). As millions of people were forced to stay home during COVID-19, which has led to much higher demand and increased spending on kitchen and home improvement. For instance, according to National Kitchen and Bath Association, residential kitchen and bath spending will rise 6.9% in 2020, from $148 billion to $158 billion. Residential kitchen spending accounts for $76 billion of the total $158 billion (48%). Further, according to Harvard University’s Joint Center for Housing Studies, American homeowners spent nearly $340 billion on home improvement and repairs in 2020, a 3.5% increase from the previous year, and this trend is expected to continue.
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Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in April 2020, Vinod Intelligent Cookware, one of India’s largest and oldest cookware brands, has announced the launch of its Designer range of Legacy Cast Iron products in the country. The versatile cookware has a minimalist design that adds a touch of style and is best suited for all heat sources, including electric and gas. Additionally, to deliver the message about age-old cooking techniques and the benefits of Cast Iron Cookware, the brand has launched the #PassTheTradition campaign, which features well-known celebrities, MasterChefs, and YouTube Home Chefs. The brand’s goal with this campaign is to reflect on the legacy of cast iron products in kitchens dating back generations.
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Market Coverage
- Segment Covered-
o By Material
o By Application
o By Product
- Regions Covered
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Target Brands, Inc., TTK Prestige LTD, Hawkins Cookers Limited Newell Brands, Inc., and, Robert Bosch GmbH.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Cookware Market Report Segment
By Material
- Stainless Steel
- Aluminum
- Others (Glass)
By Application
- Residential
- Commercial
By Product
- Pots & Pans
- Soup Ladle
- Spoon
- Whisk
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