Cookware Market

Cookware Market Outlook (2022-2032)

Global cookware sales are estimated at US$ 21 billion at present. Fact.MR predicts the global cookware market to reach a valuation of US$ 41.6 billion by the end of 2032 expanding at a CAGR of 7.1% during 2022-2032.

Report Attributes	Details
Cookware Market Size (2021A)	US$ 19.8 Billion
Estimated Market Value (2022E)	US$ 21 Billion
Forecasted Market Value (2032F)	US$ 41.6 Billion
Global Market Growth Rate (2022-2032)	7.1% CAGR
East Asia Market Share (2021)	~26.6%
East Asia Growth Rate (2022-2032)	6.1% CAGR
China Growth Rate (2022-2032)	6.6% CAGR
Market Share of Top 5 Companies	~28.6%
Key Companies Profiled	Group SEB Meyer Corporation Fissler GmbH Hisense Hawkins Cooker Ltd  TTk Prestige The Middleby Corporation Glen Dimplex Group The Vollrath Co. LLC Werhahn KG

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.

The top 5 leading cookware manufacturers in the world account for around 28.6% market share.

Cookware Sales Analysis (2017-2021) Vs. Market Forecast Outlook (2022-2032)

Latest market analysis by Fact.MR, a market research and competitive analysis provider, reveals that the global market value for cookware increased at a CAGR of around 7.1% from 2017 to 2021. Induction-compatible and modern cookware products are replacing traditional cooking accessories on a large scale across the world.

Prime cookware manufacturers are striving to provide complete product information by creating small videos and showcasing the functionality and technology used in their products, thereby allowing customers to acquire better knowledge in a simulated in-store experience before deciding whether or not to make a purchase.

Industry leaders are investing heavily in R&D to provide cookware products that suit every aspect of consumer needs, which is driving the non-stick cookware market.

Overall, the global market for cookware products is predicted to expand rapidly at 7.1% CAGR through 2032.

Why is the Global Cookware Market Experiencing High Growth?

“Cookware Producers Moving towards Sustainable Energy Models”

Cookware manufacturing companies are investing in reducing their carbon footprint and are moving towards sustainable energy models, which will also help them reduce operational and production costs. Companies are shifting their business models to increase efficiency and are introducing new products for institutional clients; cookware that does not include PTFE and PFOA, which releases harmful fumes while heating.

“Emergence of Diverse Range of Cookware Product Offerings”

Demand for cookware products is rising because manufacturers are diversifying their product lines for different industries where they have a pool of choices in terms of technology. Nowadays, products are not restricted to a particular segment, and demand for cookware accessories such as knives and spoons & spatulas is growing at a tremendous pace because of design development, which provides physical ease and relaxation while using the product.

Companies such as Group SEB and Meyer Corporation are refining their existing products with improved designs and features. Induction cookware products come under a humongous product portfolio. Many developing countries such as India, Iran, and Indonesia are encouraging new market players through various means.

“Market Witnessing Continuous Cookware Product Innovation”

Product innovation has been driving the aluminium cookware market. Digitalization creates awareness about technological advancements in different products, which is ultimately driving the revenue of companies. Companies upgrading existing products with novel technology eventually improve their product portfolio.

For instance, companies have developed a PTFE-free material made from heat-resistant materials that prevent contamination, especially when the temperature of the product rises. These are mostly being used in hotels and restaurants.

For example, Teflon coatings for stainless steel cookware offer high resistance to corrosion for various stainless steel substratum grades. Some non-stick cookware products of Teflon last 4 times longer than other non-stick products available in the market.

Country-Wise Analysis

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%.

How is the India Cookware Market Faring? 

The Indian market has been one of the most money-spinning markets that drive demand for cookware products. In India, top cookware manufacturers provide products at a lower price point as compared to other countries such as the U.S. and Germany and gain a competitive advantage over other brands operating in the country through various e-Commerce platforms.

The Indian cookware market is estimated to reach US$ 1.1 billion in 2022 and is expected to expand at a CAGR of around 8.4% over the decade.

e-Commerce sales of cookware are increasing rapidly, and the overall cookware market is foreseen to double its valuation by 2032 in the South Asia region.

Category-Wise Analysis

Which Cookware Product Type Has Been the Most Attractive for Market Players?

The pots and pans market is anticipated to be most lucrative during the forecast period. This sub-segment currently accounts for 51.3% market share. Sales of pots and pans are estimated to generate US$ 10.8 billion in value in 2022.

Furthermore, demand for pressure cookers is also rising due to enhanced symmetrical design that has improved over the years. Aluminium cookware comes in various price ranges, is more durable and reliable, and has a longer lifespan as compared to traditional cookware products that usually include cast iron.

In the South Asian region, the cast iron cookware market is growing steadily due to a longer product lifecycle as compared to other materials, which makes it the most attractive product from the consumer’s end.

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.

Key Segments of Cookware Industry Research

• Cookware Market by Product Type:

  • Pots and Pans
  • Pressure Cookers
  • Cooking Accessories
    • Wok Turners
    • Whisks
    • Spoons and Spatulas
    • Soup Ladles
    • Tongs and Forks
    • Others

• Cookware Market by Material:

  • Ceramic Cookware
  • Stainless Steel Cookware
  • Aluminium Cookware
  • Cast Iron Cookware
  • Others

• Cookware Market by Compatibility:

  • Conventional Bottom
  • Induction Compatible

• Cookware Market by End User:

  • Household/Residential
  • Commercial/HORECA
    • Hotels
    • Full-Service Restaurants
    • Fast Food Outlets/Quick Service Restaurants
    • Caterers
    • Cafeteria
    • Others

• Cookware Market by Sales Channel:

  • Offline Sales of Cookware
    • Convenience Store
    • Departmental Store
    • Homeware/Gift Stores
    • Supermarkets/Hypermarkets
    • others
  • Online Sales of Cookware
    • e-commerce Websites
    • Company Websites

• Cookware Market by Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa