According to a new report Global Cookware Market, published by KBV research, The Global Cookware Market size is expected to reach $18.6 billion by 2027, rising at a market growth of 13.6% CAGR during the forecast period.
The aluminium or copper core on both sides of stainless steel helps in the conduction of heat from all sides. Consumers are becoming more health-conscious and they are preferring to cook at home. This will push the cookware market to higher sales. The changing lifestyles and increasing disposable income are also boosting the market demand for the segment.
The Stainless-Steel market dominated the Global Cookware Market by Material Type in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $9,687.6 million by 2027, growing at a CAGR of 12.7 % during the forecast period. The Aluminum market is expected to witness a CAGR of 12.9% during (2021 - 2027). The Glass market is expected to witness a CAGR of 15.5% during (2021 - 2027).
The Asia Pacific market dominated the Global Cookware Market by Region in 2020, and would continue to be a dominant market till 2027; growing at a CAGR of 14.4 % during the forecast period. A growing number of households owing to increasing population and rapid urbanization are the major factors propelling the market growth in this region. As tourism is promoted in most of the Asian countries such as Thailand and Malaysia leading to the increasing number of hotels and resorts owing to the rising trend of traveling to these locations are driving the market growth in the region.
The Europe market is expected to witness a CAGR of 13.2% during (2021 - 2027). In Europe, Germany contributes the majority of the share of the market. The increasing usage of different types of cookware and the growing spending power of the consumer group is expected to boost the market in this region. Additionally, The North America market is expected to witness a CAGR of 12.2% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/cookware-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Groupe SEB, Newell Brands, Inc., MiddleBy Corporation, Werhahn KG, Target Corporation, Fissler GmbH, Gorenje Group, Meyer Corporation (Anolon), Cuisinart Corporation (Conair Corporation), and Tramontina Multi S.A.
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