Global Kitchenware Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2033
Global Kitchenware Market: Overview
“The Global Kitchenware Market size is expected to be worth around US$ 72.7 Billion by 2023 to US$ 110.6 Billion in 2033, growing at a CAGR of 4.28% during the forecast period 2023 to 2033.”
Kitchenware includes various utensils and equipment that are used for cooking, baking, serving, and storing food. This may include products such as electronic and non-electronic appliances, utensils, cutleries, dishes, etc.
Global Kitchenware Market: Dynamics
Increasing consumption of food coupled with rapidly growing population worldwide are some major factors expected to drive growth of the global kitchenware market. Increasing inclination towards modernizing the kitchen coupled with increasing disposable income are some other factors projected to support the revenue growth of the target market.
In addition, the availability of kitchenware in various assorted colors, capacities, functionalities and various compatibilities such as electronic and non- electronic is another factor anticipated to propel the target market growth. Rapidly growing food industry which can be attributed to the increasing number of food retail chains, restaurants, hotels, etc. may fuel the demand for kitchenware. This is another factor expected to fuel the global market growth over the forecast period.
The key trend observed in the global market is the availability of the kitchenware at various online shopping platform at a discounted price, which offers hassle-free shopping experience to consumers.
However, the availability of the counterfeit products at a lower cost and high fragmentation of the market are some major factors anticipated to hamper the global market growth over the forecast period.
Global Kitchenware Market: Segment Analysis
Among the product type segments, the cookware segment is expected to register significant revenue shares of the global market. This is attributed to the increasing demand for cooking appliances or cookware among households coupled with increasing awareness regarding healthy food consumption.
Among the end user segments, the commercial kitchens segment is projected to register significant growth. This can be attributed to growing number of foodservice outlets, hotels, restaurants, etc. across the globe.
Among the sales channel segments, the online segment is expected to account significant shares of the global market, in terms of revenue. This is owing to the availability of multiple branded products at a single place and at competitive prices.
Global Kitchenware Market: Region Analysis
Asia Pacific is projected to dominate the kitchenware market and continue its dominance during the forecast period. This can be attributed to the rapidly expanding food sector in this region. In addition, increasing food consumption, growing population, and increasing number of well-known food retail outlets fueling the demand for various kitchenware for commercial application.
This is a factor projected to support the revenue growth of the target market. Furthermore, rapid urbanization, improving standard of living, coupled with higher disposable income are some additional factors propelling the target market growth over the forecast period.
North America is projected to contribute significant revenue shares of the kitchenware market. This is owing to the strong existence of kitchen appliances manufacturing companies. In addition, willingness to pay more for premium kitchenware are some other factors expected to propel the target market growth.
The kitchenware market is highly competitive, with numerous players in the industry. Some of the key players in the market include:
• Scavolini S.p.a
• Kenwood Limited
• TTK Prestige Ltd
• Whirlpool Corp.
• Meyer Corporation
Overall, the kitchenware market is highly competitive, with numerous players offering a wide range of products to meet the needs of consumers at all price points.
Global Kitchenware Market Segmentation:
Segmentation by Product Type:
- Others (Cutlery & Knife Accessories, Appliances, and Utensils & Small Gadgets)
Segmentation by End User:
- Residential Kitchen
- Commercial Kitchens
Segmentation by Sales Channel:
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Hobart Corporation
- LG Electronics Inc.
- Samsung Electronics Co Ltd.
- Morphy Richards Ltd.
- Koninklijke Philips N.V.
- AB Electrolux (publ)
- Whirlpool Corporation
- Pyrex Cookware (Corning Inc.)
- Illinois tools Works Inc.
- Dover Corporation
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