What Has Been the Progress and Growth of the Kitchenware Market in Recent Years?
The kitchenware market has seen considerable growth due to a variety of factors.
• The size of the kitchenware market has seen robust growth over the past few years. The market, which is estimated to be worth $69.21 billion in 2024, is expected to expand to $72.99 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.5%.
Factors such as culinary trends, cookware innovation, urbanization, and a rising focus on healthy eating have contributed towards market growth in the historical period.
What Can Be Expected from the Kitchenware Market Size?
The kitchenware market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming years, robust growth is forecasted within the kitchenware market, with the projections indicating a hike to $89 billion by 2029 at a compound annual growth rate (CAGR) of 5.1%.
The surge within the predicted period can be associated with the escalation of e-commerce, the advent of sustainable and environmentally-friendly products, the demand for intelligent kitchen gadgets, and worldwide culinary diversification. Predominant trends to see during this timeframe include tailor-made and modular kitchenware, precision-based and sous vide cooking, vintage-styled and retro designs, plus a drive towards zero-waste in kitchen culture.
What Are the Critical Driver Fuelling The Kitchenware Market's Growth?
The burgeoning number of food retail chains, eateries, and hotels is predicted to spur the kitchenware market's growth. Food retail chains constitute a series of interlinked stores that offer an array of food products while hotels and restaurants supply prepared meals, drinks, lodging and a varied selection of dining options onsite. The widening scope of food preparation means a surge in kitchenware demand as more dining establishments need utensils, appliances, and other kitchen equipment. This creates a multiplier effect on the growth of the kitchenware industry. In August 2023, as documented by the US Bureau of Labor Statistics, a government agency in the US that gathers facts, the count of establishments involved in food services and drinking places for the 4th quarter of 2022 in the private industry was 694,267, reflecting a 4.28% increase from 665,736 in the same period in 2021. Consequently, the swelling number of food retail chains, eateries, and hotels is set to stimulate the kitchenware market. The escalation in the count of hotels and restaurants is anticipated to stimulate the kitchenware market's growth. The transformation in lifestyle and consumer preferences are contributing factors to the amplified number of hotels and restaurants. The expansion of the hospitality sector because of the surge in tourism, urbanisation, and evolving consumer lifestyles has led to a corresponding growth in the demand for superior kitchenware products. For instance, as reported by EHL Insights, a Swiss central source that provides actionable insights into Hospitality, Business & Education worldwide, the sector of hotels and food services grew by 8.6% in February 2022. Hence, the expansion of the number of hotels and restaurants will fuel the kitchenware market.
How Is The Kitchenware Market segmented?
The kitchenware market covered in this report is segmented –
1) By Product: Cookware, Bakeware, Other Products
2) By Distribution Channel: Online, Offline
3) By End-User: Residential Kitchen, Commercial Kitchens
Subsegments:
1) By Cookware: Frying Pans, Saucepans, Stock Pots, Dutch Ovens, Woks
2) By Bakeware: Baking Sheets, Cake Pans, Muffin Tins, Pie Dishes, Loaf Pans
3) By Other Products: Utensils, Mixing Bowls, Cutting Boards, Kitchen Gadgets, Storage Containers
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What Emerging Trends Are Influencing The Growth Of The Kitchenware Market?
Major players in the kitchenware market are taking advantage of smart appliance technologies in their product offerings as a means of increasing user-friendly interaction, simplifying cooking routines, and offering personalized culinary options. Technologically sophisticated kitchen tools including features such as sensors, connectivity, and automation are what constitute these smart kitchen appliances that are altering the method of kitchen chores. An example of this move towards technologically advanced kitchenware is VersaWare Technologies Inc. This US-based firm manufactures intelligent kitchen equipment and in January 2023, introduced a new evolution in smart kitchen appliances. By employing a nutrition-centric Artificial Intelligence approach in the health and wellness sector, they launched an easy-to-handle appliance series made up of two interconnected smart kitchen tools like a mixing bowl and a cutting board. They also rolled out the VersaWare mobile application, which aids users in preparing meals that align with their individual nutrition targets. Thanks to OpenAPI, their nutritional system has a broad product database which permits users to scan different brands. With VersaWare, users can scan barcodes of pre-packed items and feed in information for fresh ingredients, which subsequently… get utilized for calculations within the smart appliances. The AI technology aids in the instant creation of various meals that abide by nutritional profiles, thereby offering a complete overview of meal nutrition data.
Who Are the Key Players In The Kitchenware Market?
Major companies operating in the kitchenware market are:
• Whirlpool Corporation
• Newell Brands Inc.
• Groupe SEB
• Wilton Industries Inc.
• Conair Corporation
• Meyer Corporation
• Tupperware Brands Corporation
• Rubbermaid Commercial Products
• Hamilton Beach Brands Holding Company
• Anchor Hocking Company
• Fissler GmbH
• TTK Prestige Ltd.
• ITW Food Equipment Group LLC
• ZWILLING J.A. Henckels AG
• Scavolini S.p.a
• Calphalon Corporation
• OXO International Ltd.
• Gibson Overseas Inc.
• Wusthof Dreizack
• Lodge Manufacturing Company
• Viners (Rayware Limited)
• Tramontina USA Inc.
• Clipper Corporation
• The Cookware Company
• Pyrex Cookware
• All-Clad Metalcrafters LLC
• Anolon
• Mauviel USA Inc.
• Kenwood Limited
• Le Creuset.
What Is The Most Dominant Region In The Kitchenware Market?
North America was the largest region in the kitchenware market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in kitchenware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
