Kitchenware Market Trends, Growth, Industry & Revenue [2031]

Report Description

The kitchenware market size was valued at USD 64.74 billion in 2022 and is projected to reach USD 95.38 billion by 2031, expanding at a CAGR of around 4.4% during the forecast period, 2023 – 2031. The growth of the market is attributed to economic boom in emerging countries and rising urbanization.

The cookware, plates, appliances, utensils, and equipment used in food preparation and serving are known as kitchenware. Before or after cooking, food can be kept or stored in kitchenware. The most typical kitchenware items include cooling rack, potato masher, pepper mill, pasta server, cake pan, baking tray, and baking dish.

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The Covid-19 pandemic affected the demand and supply of kitchenware market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

Market Trends, Drivers, Restraints, and Opportunities

• Factors such as increased food consumption and rapidly rising global population are projected to propel the global kitchenware market.
• Rising interest in modernising kitchens is estimated to drive the market during the forecast period.
• Increasing disposable income of the working population is anticipated to boost the market in the next few years.
• The tendency of utilizing various types of kitchenware for various cuisines is having a positive impact on the market growth.
• Availability of kitchenware in a variety of functionalities, capacities, colors, and compatibilities, including electronic and non-electronic, is expected to fuel the market.
• Rapidly increasing food business ascribed to growing number of hotels, restaurants, and retail chains, are projected to drive the kitchenware market.
• Availability of counterfeit items at a low cost is estimated to hamper the market growth.
• R&D investment and technological advancements are anticipated to create immense opportunities for the market players.

Scope of the Report

The report on the global kitchenware market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

The bakeryware segment is projected to expand at a high CAGR during the forecast period

Based on products, the market is segregated into bakeryware, cookware, and others. The bakeryware segment is projected to expand at a high CAGR during the forecast period. Increasing popularity of baked foods, changing lifestyles, and rising disposable income, are driving the segment. Rising product adoption in developing nations such as China and India is estimated to propel the segment.

Aside from Asia Pacific, the widespread use of product in European countries is driving the market at a rapid pace. The cookware segment held around 35% of the total market share in 2021. A large population in countries like India prefers to prepare their own meals, which is expected to boost the segment. Increasing public knowledge of the negative health effects of junk food. Changing trends have influenced the young bachelors to cook their food instead of consuming junk food. These are the major factors driving the market.

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The offline segment held around 80% of the total market share in 2021

On the basis of distribution channels, the market is bifurcated into offline and online. The offline segment held around 80% of the total market share in 2021. The presence of major manufacturers such as Home center and Inter Ikea Group with a broad choice of items and discounts, as well as being a traditional method of purchasing, are the primary factors driving the segment.

Furthermore, one of the reasons for the segment growth is the consumer assumption that online sellers might not deliver fragile items such as ceramic and glass cookware successfully. The online segment is anticipated to expand at a CAGR of around 5.1% during the forecast period.

The growth of the segment is attributed to availability of replacement choices, rising internet access in rural regions, and fast & reliable delivery by numerous online portals. Furthermore, due to simple access and doorstep delivery, the modern working consumer with a busy schedule prefers to shop online rather than offline.

Asia Pacific is anticipated to dominate the market during the forecast period

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to dominate the market during the forecast period owing to rising food sector in the region. Furthermore, rising food consumption, increasing population, and expansion of well-known food retail shops in the region are driving the demand for commercial kitchenware.

Rising living standards, rapid urbanization, and increased disposable income are some of the reasons boosting the market. North America is estimated to hold major market share during the forecast period. Growth of the market in the region is attributed to presence of major kitchen equipment manufacturers. Desire to pay more for enhanced kitchenware is one of the major factors estimated to fuel the market.

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