Global Kitchenware Market

Kitchenware Market Size, Share, Growth Analysis, By Product(Cookware, Bakeryware, Others), By Distribution Channel(Online, Offline), By Region - Industry Forecast 2024-2031


Report ID: SQMIG25I2022 | Region: Global | Published Date: July, 2036
Pages: 157 | Tables: 62 | Figures: 75

Kitchenware Market Insights

Kitchenware Market size was valued at USD 62.01 billion in 2019 and is poised to grow from USD 64.72 billion in 2023 to USD 84.3 billion by 2031, growing at a CAGR of 4.4% in the forecast period (2024-2031).

The need for smart kitchen equipment is rising as a result of rising health and hygiene concerns, greater restaurant and food outlet penetration, a desire for smart & compact kitchen appliances, and an increase in the working population. The market for kitchen equipment is thus flourishing.

The market is primarily being driven by growing urbanisation and economic expansion in developing nations. In addition, a growing number of households, changing lifestyles, and increased disposable income have all boosted the product's demand over the past few years and are predicted to continue doing so over the forecast period.

Growing commercial sectors, particularly the hospitality industry, are having an impact on the segment's market expansion. The hospitality business is expanding quickly and has seen significant investment in developing regions like the Asia Pacific. In nations like Thailand and Malaysia, the number of hotels and resorts has increased as a result of the expanding travel trend. Due to the increased traffic, other industry players in the hospitality sector have been motivated to update their goods and services and buy additional goods, which has increased demand throughout the projection period.

US Kitchenware Market  is poised to grow at a sustainable CAGR for the next forecast year.

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FAQs

Kitchenware Market size was valued at USD 62.01 billion in 2019 and is poised to grow from USD 64.72 billion in 2023 to USD 84.3 billion by 2031, growing at a CAGR of 4.4% in the forecast period (2024-2031).

kitchenware market is relatively fragmented, with a high level of competition. As there are established industry leaders and considerable setup expenses are necessary, the market has moderate to high entry barriers. Mergers and acquisitions, joint ventures, and design innovation are further market drivers. For instance, numerous manufacturers are developing creative layouts and clever kitchen concepts. To obtain an advantage over their rivals, manufacturers are investing more in research and development. 'Meyer Corporation', 'Newell Brands', 'Groupe SEB', 'Hamilton Beach Brands', 'Conair Corporation', 'ZWILLING J.A. Henckels AG', 'Tupperware Brands Corporation', 'KitchenAid', 'Whirlpool Corporation', 'S. C. Johnson & Son, Inc.', 'Pyrex Cookware', 'Rubbermaid Commercial Products', 'Cuisinart', 'All-Clad Metalcrafters', 'Calphalon Corporation', 'Anchor Hocking Company', 'Le Creuset', 'Lodge Manufacturing Company', 'OXO International', 'Wilton Industries'

Increasing food consumption and the world's rapidly expanding population are two key reasons expected to drive market expansion for kitchenware worldwide. Other variables anticipated to help the target market's revenue growth include a rising desire to modernize kitchens and rising disposable income.

The primary trend in the market is the inexpensive availability of kitchenware on numerous online shopping platforms, which provides consumers with a hassle-free buying experience.

During the anticipated term, Europe will be a significant region for the kitchenware and housewares markets. due to the region's growth in the demographic, economic, and technical spheres. As they are so easily accessible and have advanced in technology, smart appliances are quickly becoming more and more popular in the region. Technology is fostering Internet accessibility and making it simple to operate from remote regions, which is supporting market expansion. Customers are being forced to prefer homemade cuisine due to a rise in health consciousness and the availability of a variety of cooking recipes online or through social media. These have increased demand for time-saving and practical cooking equipment. Additionally, buyers have been encouraged to purchase a product with superior features and brand value thanks to the higher income levels.

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Global Kitchenware Market

Product ID: SQMIG25I2022

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