Nonstick Cookware Market Growth & Trends
The global nonstick cookware market size is expected to reach USD 15.39 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.2% from 2021 to 2028. The nonstick cookware industry is rapidly changing due to technology improvements and shifting customer preferences. Businesses have long tried to stay on top of new developments and advances in this industry, such as electronic cookware and smart kitchen gadgets.
The rise in the popularity of home cooking, especially during the ongoing COVID-19 pandemic, is another factor fueling the demand for nonstick cookware products. Consumers are not only trying new recipes at home but also improving their cooking skills. The coronavirus outbreak has also led to an increase in cooking at home as consumers want to avoid any exposure to outside food. This, in turn, has boosted the overall demand for nonstick cookware products.
The intention to keep up with home cooking is particularly strong among younger groups, according to a survey of 2,200 U.S. consumers. When questioned about their post-pandemic intentions, a whopping 43% of Gen Z respondents stated they expect to cook more at home once the epidemic is gone. Cooking shows on TV and the internet and regional and international food publications have all aided the trend of cooking at home, thereby driving cookware sales all over the world.
Moreover, cookware and bakeware sales in the third quarter of 2020 and the first nine months of 2020, according to BridgeTower Media, demonstrate the rising interest in at-home food preparation that has occurred during the pandemic. Total cookware sales in the U.S. increased 36.2% in the third quarter compared to the same period last year, while sales from January to September were up 20.7% over the same period in 2019.
The market for nonstick cookware is rising due to the growth of the hospitality industry. The growth of the restaurant and hospitality industry is primarily due to companies reorganizing their operations and recovering from the COVID-19 impact, which had previously resulted in restrictive containment measures, such as social distancing, remote working, and closure of commercial activities, all of which created operational challenges.
Request a free sample copy or view report summary: Nonstick Cookware Market Report
Nonstick Cookware Market Report Highlights
By raw material, the teflon coated segment accounted for the largest volume share of 47.0% in 2020. Teflon coated nonstick cookware is the most popular among middle-income families owing to its stiffness and longevity
Based on distribution channel, the supermarkets and hypermarkets segment accounted for the largest revenue share of 59.7% in 2020. The easy accessibility of nonstick cookware in a variety of price ranges and the availability of a variety of local and worldwide brands are fueling the segment growth
Europe held the largest revenue share of 37.7% in 2020. The increasing adoption of nonstick cookware products in the region is supported by the growing number of new product launches by regional and global manufacturers
留言