Cookware Market Size, Share & Trends Analysis Report By 2022 - 2030

 Cookware Industry Overview

The global cookware market size is expected to reach USD 41.9 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.5% from 2022 to 2030. Demand for cookware products is on the rise owing to an increase in the popularity of home cooking, especially during the ongoing COVID-19 pandemic. Consumers are not just trying new recipes at home but are also looking to improve their cooking skills. Another factor fueling the growth of the market is the replacement of old cookware with new items. According to the International Housewares Association (IHA), 90% of the consumers in the U.S. will replace their cookware within a decade. This will boost the growth of the overall market over the forecast period.

 

COVID-19 has also affected the market growth drastically. After months of being confined to living quarters, more than a few people are ready to upgrade their spaces. One beneficial outcome of more time spent at home is many people were prompted to learn some often neglected traditional life skills, such as cooking for themselves. Since several consumers are spending more time in the kitchen and cooking exotic recipes, several cookware manufacturers are channelizing this trend and offering customers cooking tips and recipes.

With economies and markets now reopening after stringent lockdowns, there has been an uptick in new household construction and the reinvigoration of commercial kitchen businesses such as restaurants, street food outlets, fast food chains, and cafes. A long-lasting change that can be evident post-COVID-19 times would be the point of sales moving from traditional brick-and-mortar outlets toward online retail platforms.

The market is growing at a significant pace. Cookware includes pans, pots, wok turners, whisks, spoons, and soup ladles used for cooking in household and commercial kitchens. These high-quality products are often expensive and cookware can be rather luxurious. However, a rise in disposable incomes and changing lifestyles of consumers are factors likely to drive the market over the forecast period. The growing demand from developing economies and rising urbanization in these countries will create various opportunities for manufacturing companies over the years to come.

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 in North America. Consumers in the region are likely to invest in high-end cookware, which complements their kitchen décor.

 

Cookware Market Segmentation

Grand View Research has segmented the global cookware market on the basis of product, material, application, distribution channel, and region:


Based on the Product, the market is segmented into Pots and Pans, Pressure Cooker, Cooking Racks, Cooking Tools, and Microware Cookware.

  • 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.


Based on the Material, the market is segmented into Stainless Steel, Aluminum, Glass, and Other.

  • Stainless steel dominated the market with a revenue share of over 50.0% in 2021. Standard manufacturing of stainless steel involves the addition of chromiumand 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.


Based on the Application, the market is segmented into Residential, and Commercial.

  • 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.


Based on the Distribution Channel, the market is segmented into Offline, and Online.

  • 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.
  • 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.

 

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

 

Order a free sample PDF of the Cookware Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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