Cookware Products Market Sizzles as Consumers Seek Quality and Convenience

The rising preference for modular kitchens, coupled with improving living standards, is driving the demand for cookware products in the commercial and residential sectors.

According to Market.us, “The Cookware Products Market is projected to reach a valuation of USD 45.43 Billion by 2032 at a CAGR of 6.7%, from USD 23.75 Billion in 2022.”

Asia-Pacific dominated global markets in 2020. LAMEA is forecast to grow at 6.1% CAGR over the forecast period. This is due to an increase in restaurants and hotels and significant economic growth. Nearly 69.2% of global sales were contributed by Asia-Pacific and North America. North America’s market is driven primarily by the high adoption of advanced products like smart ovens and deep fryers and increased demand for fast food.

Anurag Sharma, a senior research analyst at Market.us, said, “The replacement of outdated cookware with newer items is another factor that has contributed to the market’s growth. The International Housewares Association (IHA) predicts that 90% of Americans will replace their cookware in less than a decade. This will increase the market’s growth over the forecast period.”

COVID-19 has had an impact on the consumer goods sector. The pandemic has caused a drop in the performance of the cookware and baking industries. The supply chain disruption has had an impact on the manufacturing and distribution processes.

Factory workers have been offered a pay cut. People are no longer able to go outside for such products because of stay-at-home orders. The major commercial end users for cookware are restaurants, hotels, and fast food outlets. However, due to the lockdown, there has been a significant reduction in demand.

Nonstick cookware has seen a rise in sales due to rising health concerns. Not only are cooking trends driven by health and fitness, but they also encourage home-cooked meals.
A large number of TV programs that focus on food and recipes encourage consumers to explore new cuisines, particularly housewives. Non-stick cookware is now more popular. Because it allows for cooking with minimal oil, non-stick cookware is gaining popularity.
Celebrity endorsements and television shows are giving rise to consumers’ interest in gourmet cooking.

The popularity of European culinary excellence and practices is causing nonstick cookware to be more popular. Michel Roux Jr., Monica Galetti, Gordon Ramsay, and Gordon Ramsay, are all well-known chefs from Europe. They promote nonstick cookware directly and indirectly, which is a huge driver for the product’s sales.

Non-stick ceramic cookware is gaining popularity due to its non-stick and harmful properties. It has been noticed that consumers are shifting from nonstick cookware coated with Teflon to ceramic-coated cookware.

The primary channel for non-stick cookware sales is now being dominated by modern stores, followed closely by departmental shops. Non-stick cookware sales are being boosted by a wide product range from various brands, new product models, and better visuals.

With a market share of more than 50.0%, stainless steel was the dominant player in 2021. Standard stainless steel manufacturing involves adding chromium to steel in a ratio of 1:10. The best quality stainless steel available is 18/10.

This segment is steadily growing because of its characteristics: it doesn’t react with acidic or alkaline foods; it doesn’t impart a metallic taste to food; and it is dishwasher-, oven-, and broiler-safe.

This market is expanding at a rapid pace. The market includes cookware that includes pots, pans, and wok turners as well as whisks, spoons, and soup ladles. These are used in commercial and household kitchens. These premium cookware products can be quite expensive.

The market will be driven by rising disposable incomes and changing consumer lifestyles over the forecast period. Manufacturing companies will have many opportunities over the next few years due to rising urbanization and growing demand in developing countries.