GVR Report cover Cookware Market Size, Share & Trends Report

Cookware Market Size, Share & Trends Analysis Report By Product (Cooking Tools, Pots And Pans), By Material (Stainless Steel, Aluminum), By Application, By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68039-420-4
  • Number of Pages: 182
  • Format: Electronic (PDF)

Report Overview                                                                     

The global cookware market size was valued at USD 23.75 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2030. The rising preference for modular kitchens, coupled with the improving living standards, is driving the demand for cookware products in the commercial and residential sectors.

U.S. cookware market size, by material, 2020 - 2030 (USD Billion)

The COVID-19 pandemic has brought in a seismic shift in people’s attitudes towards wellness and the kitchen environment. The industry has been witnessing a few pivoting factors determining consumers’ spending on cookware, i.e., working from home, conducting purchases on online platforms, and additional spending leeway realized from not having any outdoor leisure and travel expenditure.

Increased spending on home improvement projects or home remodeling is also boosting the product demand owing to the rising inclination of consumers toward modular kitchens. According to the Leading Index for remodeling activity, home improvement spending has risen at 6% annually in the last three years since 2015. Moreover, manufacturers are partnering with contractors and builders for home construction with appropriate cookware products in the kitchen.

Millennials have significantly driven the popularity of cook-at-home meals, which, in turn, is driving the demand for cookware products. More color, adaptable pieces for smaller spaces, and pieces that meet consumers’ individual needs are some of the trends shaping the market for cookware in the residential sector.

Furthermore, the growth of commercial kitchens, eateries, and restaurants is propelling the growth of the market. Rapid construction in the commercial segment, particularly the hospitality sector, is driving the need for cookware. Dining out has become more than just about eating for consumers and food joints. In the hospitality sector, customer retention goes beyond food and depends on how good the overall experience has been for the patrons.

With concerns over climate changes and deforestation, consumers are increasingly demanding sustainable products. Cookware made from sustainable materials that are free of glues, polymers, coatings, or dyes is in demand now more than ever. Consumers are seeking products that are sustainable while also having an aesthetic appeal. For instance, Our Place, a Los Angeles-based company, manufactures cookware that is ethically made with responsible materials and is Teflon as well as PTFE-free.

Product Insights                                                           

In terms of value, the pots and pans segment dominated the market with a share of over 30.0% in 2021. The segment is estimated to grow steadily during the forecast period owing to the demand for multi-purpose and colorful pans. Pans and pots are purchased by the consumers based on their requirements and these products should hence meet the personal needs of a consumer. Consumers prefer varieties in terms of features, designs, and colors.

The cooking tools segment is expected to register the fastest CAGR of 7.7% from 2022 to 2030. The growth in demand for these products is attributed to the consistent growth in the requirement for spoons used for cooking and serving. Cookware companies offer spoons that are generally designed for longer life cycles and are hence made of stainless steel, after which they may be plated with other materials depending on the design aspects and applications.

Material Insights

In terms of value, stainless steel dominated the market with a revenue share of over 50.0% in 2021. Standard manufacturing of stainless steel involves the addition of chromium and nickel to steel in ratio. 18/10 type of stainless steel is the best quality available in the market. The segment is growing steadily owing to the characteristics of the material; for instance, it does not react with alkaline or acidic food; it does not impart a metallic flavor to food; and is dishwasher, oven, and broiler safe.

The aluminum segment is expected to register the highest CAGR of 7.0% from 2022 to 2030. Aluminum is the second-best heat conductor after copper. Natural aluminum generally reacts with acidic food and imparts a metallic taste and dull gray tint to the food. To overcome this shortcoming, several manufacturers offer aluminum cookware that is lined with a non-stick coating, undergo anodization, or is clad with stainless steel.

Application Insights

In terms of value, the residential sector dominated the market with a share of over 75.0% in 2021. The growing number of residential constructions, rapid urbanization, and an increasing number of nuclear families are acting as major drivers for the market. Thus, these developments in the residential household category are expected to drive the demand for cookware in the coming years.

The commercial sector is estimated to register the fastest CAGR of 7.3% from 2022 to 2030. The commercial segment is witnessing healthy growth, which is attributed to the rising construction of hotels, eateries, bakeries, and restaurants globally. Developments in the hospitality sector have resulted in the growth of the hotel industry, leading to the construction of a greater number of hotels across the globe. A thriving travel and tourism industry also offers growth opportunities for different categories owing to consumer preference for luxurious stays in resorts or highly-rated hotels. Thus, these trends are likely to shift the spotlight on premium-quality cookware in hotel chains and restaurants.

Distribution Channel Insights

The offline segment accounted for the largest revenue share of over 80.0% in 2021. Offline distribution channel offers significant advantages to consumers, such as freedom of selection, lower prices, and high visibility of international brands. All these factors make this channel a suitable platform for all types of customers owing to the growth of the segment.

Global cookware market share, by distribution channel, 2021 (%)

The online distribution channel is projected to register the highest CAGR of 7.4% from 2022 to 2030. Consumers prefer to purchase cookware through online portals and official websites in order to enjoy value-added services such as cash on delivery, discounts, return policy, and aftersales service. In addition, increased internet penetration and digitization are expected to boost the sales of cookware through online channels.

Regional Insights

Asia Pacific dominated the market for cookware with a revenue share of over 40.0% in 2021. The continuous expansion of the residential sector, increasing number of home remodeling and renovation projects, and rising disposable income are likely to generate significant demand for cookware products over the forecast period.

The market for cookware in North America is projected to register a CAGR of 5.4% over the forecast period. Continuous expansion of the residential sector on account of the increasing number of households, coupled with major home improvement projects undertaken by consumers in the region, is boosting the demand for premium cookware. Consumers in the region are likely to invest in high-end cookware, which complements their kitchen décor.

Key Companies & Market Share Insights

The market includes both international and domestic participants. Key market players focus on strategies such as innovation and new product launches to enhance their portfolio offering in the market. In February 2020, WMF launched the Silit Montano series of frying pans, which are aluminum-based nonstick pans with a stone look/finish. In July 2020, Groupe SEB has invested in StoreBound, a product innovation company, working with inventors and licensing partners to create, manufacture, and distribute innovative products to retailers around the globe. Some prominent players in the global cookware market include

  • 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

Cookware Market Report Scope

              Report Attribute

                                          Details

Market size value in 2022

USD 25.14 billion

Revenue forecast in 2030

USD 41.94 billion

Growth rate

CAGR of 6.5% from 2022 to 2030

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, material, application, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Germany; U.K.; China; India; Japan; South Korea; Brazil

Key companies profiled

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

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global cookware market report on the basis of product, material, application, distribution channel, and region:

  • Product Outlook (Revenue, USD Million, 2017 - 2030)

    • Pots & Pans

    • Pressure Cooker

    • Cooking Racks

    • Cooking Tools

    • Microwave Cookware

  • Material Outlook (Revenue, USD Million, 2017 - 2030)

    • Stainless Steel

    • Aluminum

    • Glass

    • Others (Fiber, Ceramic, Plastics)

  • Application Outlook (Revenue, USD Million, 2017 - 2030)

    • Residential

    • Commercial

  • Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

    • Offline

    • Online

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

    • Europe
      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • Central & South America

      • Brazil

    • Middle East & Africa

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