Cookware Market Size, Share & Trends Report

Cookware Market Size, Share & Trends Analysis Report By Product (Pots & Pans, Spoon), By Material Type (Stainless Steel, Aluminum), By Application (Residential, Commercial), By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: May, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68039-420-4
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 80

Report Overview                    

The global cookware market size was valued at USD 11.84 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.9% from 2021 to 2028. The rising preference for modular kitchens, coupled with the improving living standards, is driving the demand for cookware products in the commercial as well as residential sectors. In addition, the growing trend of food-away-from-home has raised awareness regarding different cooking techniques and utensils, thereby driving the adoption of various cookware products. 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. The growing home values have doubled the homeowners’ equity in the past five years since 2019, indicating a surge in spending capacity toward home improvement. 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.                                                             

U.S. cookware market size, by material type, 2016 - 2028 (USD Million)

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 in the residential sector. Furthermore, the increasing number of commercial kitchens, eateries, and restaurants is propelling the growth of the market. Rapid construction in the commercial segment, particularly in the hospitality sector, is driving the need for cookware.

Dining out has become more than just about eating for consumers as well as food joints. In the hospitality sector, customer retention goes beyond food and depends on how good the overall experience has been for the patrons. Just serving food is not enough and restaurant as well as hotel owners need to leverage new-age technologies when it comes to cookware.

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.

The COVID-19 pandemic has brought in a seismic shift in people’s attitudes toward 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.

The initial phase of the pandemic saw the industry’s supply chain at a standstill due to strict lockdown orders imposed by various countries. This has led to a supply shortage in a few economies and consumer demand being unmet. Nevertheless, there has been a considerable focus on home cooking during this time owing to the growing anxiety associated with food cooked at public places, such as restaurants, cafes, and hotels. The sales of cookware have increased in line with this shifting trend.

Material Type Insights

In terms of value, stainless steel dominated the market with a share of 54.7% in 2020. This is attributed to the high functionality of standard manufacturing of stainless steel involves the addition of chromium and nickel to steel. The quality of stainless steel depends on the ratio of chromium added to nickel. 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.

Aluminum cookware is expected to register the fastest CAGR of 7.4% from 2021 to 2028. Aluminum is the second-best heat conductor after copper. The material is inexpensive, and when strengthened, generally by adding copper, magnesium, or other metals, makes responsive and light cookware. 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 clad with stainless steel. Several manufacturers are increasingly adopting anodized aluminum cookware to make the interior of a utensil non-stick or stainless as it is more attractive, easier to clean, and more durable.

Consumers can choose from several non-reactive and high-performing aluminum cookware available in the market. Aluminum is also the most popular material for stainless steel-clad cookware. Since aluminum is lightweight, it is the most practical choice for larger cookware such as roasting pans and large water pots. These factors are expected to fuel the growth of the aluminum segment over the forecast period.

Application Insights

In terms of value, the residential sector dominated the market with a share of 77.3% in 2020. This is attributed to the growing residential constructions, rapid urbanization, and an increasing number of nuclear families. Thus, these developments in the residential household category are expected to drive the demand for cookware in the coming years.

Increasing kitchen remodeling activities are also estimated to drive the demand for cookware. According to a report published by Houzz Inc., in 2019, 29% of the consumers renovated their kitchens in order to personalize a recent home purchase. This trend acts as a major factor for the segment growth. These aforementioned factors are boosting the demand for cookware in the residential sector.

The commercial sector is estimated to expand at the fastest CAGR of 7.3% from 2021 to 2028. The growth 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. In addition, increasing construction of commercial spaces, such as clubs, marriage halls, and group centers, offers growth opportunities for buffets and self-service, leading to a rise in demand for cookware in commercial kitchens.

Product Insights

In terms of value, pots and pans dominated the market with a share of 63.1% in 2020. This is attributed to the high 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. Another trend that is shaping the segment growth is the rising demand for pots and pans made of natural materials, such as steel, wood, and ceramic. This segment is largely driven by millennials. The rise in awareness among consumers is driving the demand for sustainable pots and pans.

Global cookware market share, by product, 2020 (%)

The spoon segment is expected to register the fastest CAGR of 7.9% from 2021 to 2028. The growth in demand 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. In line with the major socio-economic trends that are affecting the hospitality and leisure industries, the design and marketing of spoons have undergone tremendous shifts with novelty offerings.

Regional Insights

Asia Pacific dominated the market with a share of 41.1% in 2019. 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.

In the Asia Pacific region, since the last few years, single-person households have been the fastest-growing household type due to both long-term demographic trends and increasing economic independence. The growing popularity of single-person households in the upcoming years will create significant demand for cookware.

Asian-style ethnic cooking has always been one of the segment’s top sellers. The trend has grown from Chinese influences-mostly driven by take-out culture-to include Japanese, Thai, Korean, and Vietnamese cuisines, among others. Thus, several vendors are offering cookware that is ideal for these types of dishes and such vendors are increasingly popular among consumers.

Asian cooking is a smart combination of healthy, fresh ingredients and a simple cooking style. These foods also produce some of the most delicious and aromatic flavors. Every chef, whether professional or aspiring, has some or the other form of Asian cookware in the kitchen as using intricately crafted Asian cutlery or intelligently designed kitchen gadgets can make meal preparation so much easier.                                                  

The market for cookware in North America is projected to register a CAGR of 5.8% over the forecast period. The 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 that complements their kitchen décor.  

Furthermore, the growth of the commercial food-service segment is expected to drive the demand for cookware products in the coming years. According to the data by Statistics Canada, in 2017, there were about 94,400 food-service establishments across the country, serving an average of 22 million customers per day. In addition, the food-service industry is likely to witness a growth of nearly 4% per year till 2022. This scenario is expected to boost the demand and use of cookware products.

Key Companies & Market Share Insights

The market is fragmented with the presence of a large number of regional and international players. Leading players account for a considerable market share and have a strong presence across the globe.                    

Key manufacturers of non-stick cookware are prioritizing research & development and new innovations to meet the demand for sauté pans, roasting pans, frying pans, stockpots, and skillets. An increasing number of players in the industry are turning their focus on product innovation and portfolio expansion. The rising number of product innovations has been attracting more consumers to the market. For instance, in February 2020, WMF launched the Silit Montano series of frying pans, which are aluminum-based nonstick pans with a stone look/finish. Some prominent players in the global cookware market include:

  • Groupe SEB

  • Werhahn Group

  • Farberware

  • MEYER Corp.

  • Fissler

  • All-Clad Group

  • Tefal

  • Zwilling

  • Target-Made by Design

  • Anolon

  • Calphalon

  • Circulon

  • Cuisinart

  • WMF

  • Tramontina

Cookware Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 12.31 billion

Revenue forecast in 2028

USD 20.15 billion

Growth Rate

CAGR of 6.9% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Report coverage

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

Segments covered

Product, material type, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; MEA

Country scope

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

Key companies profiled

Groupe SEB; Werhahn Group; Farberware; MEYER Corp.; Fissler; All-Clad Group; Tefal; Zwilling; Target-Made by Design; Anolon; Calphalon; Circulon; Cuisinart; WMF; Tramontina

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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 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global cookware market report on the basis of product, material type, application, and region:

  • Product Outlook (Revenue, USD Million, 2016 - 2028)

    • Pots & Pans

    • Wok Turner

    • Whisk

    • Spoon

    • Soup Ladle

  • Material Type Outlook (Revenue, USD Million, 2016 - 2028)

    • Stainless Steel

    • Aluminum

    • Glass

    • Others (Fiber, Ceramic, Plastics)

  • Application Outlook (Revenue, USD Million, 2016 - 2028)

    • Residential

    • Commercial

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • India

      • China

      • Japan

      • South Korea

    • Central & South America

      • Brazil

    • Middle East & Africa

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