The North America Bakeware Market would witness market growth of 5.6% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 21,843.7 thousand Units, showcasing a growth of 5.3% (2019-2022).
Bakeware is an integral component of the culinary world, serving as the foundation for creating delectable baked goods enjoyed for centuries. This thriving market encompasses a wide range of products and innovations, catering to professional bakers and home cooks. The market is propelled by the increasing consumer interest in home baking and cooking, rising demand for a variety of bakery products that require innovation in bakeware, coupled with increasing disposable income levels in emerging economies. In addition, the market is benefiting from advancements in materials and technologies, leading to the development of durable, non-stick, and easy-to-clean bakeware products, thereby driving consumer demand.
The market is experiencing significant growth driven by rising interest in home baking, changing consumer preferences, and product innovations. A major opportunity lies in sustainable and eco-friendly bakeware products, with innovations, such as recycled materials and personalized items, gaining traction. Integration of advanced technologies, like smart bakeware with temperature sensors, is also driving the market's growth. However, fluctuating raw material prices, especially aluminum and steel, extensively used in bakeware production, impact production costs.
The Census Bureau of the Department of Commerce reported US retail e-commerce sales for the second quarter of 2023, changed for seasonal variation but not for price changes, was $277.6 billion, an upsurge of 2.1 percent (±0.9%) from the first quarter of 2023. Total retail sales for the second quarter of 2023 were estimated at $1,798.2 billion. E-commerce platforms offer a vast and diverse selection of bakeware products. Consumers can explore a wide range of bakeware items, from essential baking pans to specialized molds and utensils, with a few clicks. These aspects will expand the growth of the market in the coming years.
The US market dominated the North America Bakeware Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,190.4 million by 2030. The Canada market is experiencing a CAGR of 8% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 7% during (2023 - 2030).
Based on End-user, the market is segmented into Commercial, and Household. Based on Product, the market is segmented into Pans & Dishes, Tins & Trays, Molds, Cups, Rolling Pin, and Others. Based on Material, the market is segmented into Aluminum, Glass, Stoneware, Stainless steel, Carbon Steel, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Bakeware Market is Predict to reach $5.6 Billion by 2030, at a CAGR of 5.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Groupe SEB, Newell Brands, Inc., Le Creuset France SAS, Meyer Corporation, U.S. (Meyer Manufacturing Co. Ltd.), Wilton Brands LLC (Dr. August Oetker KG), Fackelmann GmbH + Co. KG, Northland Aluminum Products, Inc. (Nordic Ware), USA Pan, International Cookware Limited (Kartesia) and Emile Henry.
By End-user (Volume, Thousand Units, USD Billion/Million, 2019-2030)
By Product (Volume, Thousand Units, USD Billion/Million, 2019-2030)
By Material (Volume, Thousand Units, USD Billion/Million, 2019-2030)
By Country (Volume, Thousand Units, USD Billion/Million, 2019-2030)
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