Sales of cookware worldwide are currently projected to be worth US$21 billion. According to Fact.MR, the global cookware market will grow at a CAGR of 7.1% from 2022 to 2032, reaching a value of US$ 41.6 billion by the end of that year.
Consumers are focusing on the quality and performance of cookware products as compared to other dynamics. The residential sector accounts for a high share of cookware demand. As such cookware manufacturers are working on price reduction by decreasing operating costs in terms of raw materials and supply chain.
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Competition Landscape
Group SEB, Meyer Corporation, Fissler GmbH, Hawkins Cooker Ltd., TTk Prestige, Hisense, The Middleby Corporation, Glen Dimplex Group, The Vollrath Co. LLC, and Werhahn KG are some of the top companies in the cookware market.
Cookware Brands from the top two tiers have started using PTFE-free materials to manufacture non-stick cookware products and are diversifying their product portfolios.
Integration of advanced technology in cookware products increases product lifecycle. Key cookware manufacturers are also focusing on minimizing operating costs to increase net profits.
Fact.MR has provided detailed information about the overall strategies adopted by key players in the cookware market, along with their detailed overviews of cookware market analysis by product type, including SWOT analysis and sales generated from target cooking products.
What insights does the Cookware Market report provide to the readers?
Key Companies Profiled
Will High Presence of Wet Markets in China Aid Cookware Sales Growth?
China is one of the prominent consumers and manufacturers of cookware products and has rapidly grown over the years. China currently accounts for US$ 3.8 billion market valuation and utilizes 173 million units of cookware.
Due to rising health concerns, Chinese consumers prefer homemade food, and most consumers still prefer to buy garden-fresh foodstuff from wet markets where they can haggle over prices; they adore this traditional cultural practice that isn’t part of the shopping experience in hypermarkets and supermarkets. Furthermore, Chinese shoppers perceive wet market products to be truly fresh and straight from the farm or field.
Owing to the aforementioned factors, East Asia, especially China, is anticipated to remain a prominent growth generator in the cookware market during the forecast period. The East Asian cookware market is anticipated to expand at a CAGR of 6.1% to reach US$ 10 billion by 2032, with sales of pressure cookers anticipated to increase at a CAGR of 5.9%.
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