Kitchenware Market: Global Industry Analysis and Forecast (2023-2029)

Kitchenware Market size was valued at US$ 67.82 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 4.5% through 2023 to 2029, reaching nearly US$ 92.29 Bn.
Kitchenware Market Characteristics:
Rational AG manufactures and sells high-tech kitchen appliances to businesses and companies. The world rank of Rational AG is 1,619 in September 2022. Rational AG has a market value of USD 12.572 Billion in September 2022. The annual revenue of Rational AG was 649.5 Million EUR in December 2022.To know about the Research Methodology :- Request Free Sample Report

Tupperware is the first Direct Selling Company to use Social Selling into their strategy. Tupperware is growing its Direct Selling Salesforce with the launch of Home shops. Tupperware is a home product range that comprises kitchen and home preparation, storage, and serving products. Tupperware Brands had annual revenue of US$ 1,740 Million in 2022. Tupperware Brands global net sales was US$ 1.7 Billion in 2022.
Kitchenware Market Overview:
The tools, utensils, appliances, plates, and cookware used in food preparation and serving are known as kitchenware. Food can also be held or stored in kitchenware before or after cooking. Baking dish, baking tray, cake pan, pasta server, pepper mill, potato masher, cooling rack, and others are the most common items of kitchenware.
Kitchenware Market Dynamics:
Economic development in developing & developed countries is the major factor spurring the market. Moreover, increasing disposable income, changing lifestyles, & a rising number of households are pouring the demand for the product during the past few years & are expected to push the market development in the forecast period.

Furthermore, the recent trends in smart kitchens is prompting the market development as it leads to a change in the buying patterns of the customer groups. A rise in the residential side of the market is also powering market development. For example, as per census 2011, in India, the household count has improved from 52.06 Mn to 78.48 Mn. In other nations, a rising population owing to growing migration from different countries has resulted into the increase in the number of household consumption, thus propelling the market demand for the product.

The trend of shifting abroad for studies & work is also prompting the market development. For example, a large populace of customer groups from India is moving to North American countries like Canada & U.S., which is impacting the request for the product in the region, ultimately fuelling the global demand. Many innovations in kitchenware require the customer to purchase the product frequently.

The growth in commercial sector, particularly the hospitality segment, are influencing the market growth of the segment. In developing regions like Asia Pacific, the hospitality industry is rising at a robust pace & huge investment has been made in the sector. The rising trend of traveling has managed to a surge in the number of hotels & resorts in countries like Thailand & Malaysia. This has controlled the other industry players in hospitality to upgrade their products & services & buying more products owing to growing traffic, thus powering the demand in the forecast period.

The trend of using many types of kitchenware for cooking different cuisines is also impacting market development. For example, in India, for North Indian food, the customer group usages cookware products & for Italian foods, they use bakery ware as they suitable into the oven as well as for heating the cuisines. Ritual in India of having many cookware for veg & non-vegetarian food items is also driving the market development.
Kitchenware Market Segment Analysis:
The Global Kitchenware Market is segmented by Product, and Distribution Channel.

Based on the Product, the market is segmented into Cookware, Bakeryware, and Others. Cookware product segment is expected to hold the largest market shares of xx% by 2029. Consumers prefer to prepare a variety of cuisines, particularly in countries like India and China. This factor is expected to drives the cookware product segment in the global kitchenware market during the forecast period.

Bakeryware is expected to grow rapidly at a CAGR of 5.0% during the forecast period. The rising popularity of baked foods, as well as the use of breads and cakes, is driving up demand for bakeryware during the forecast period.

Based on the Distribution Channel, the market is segmented into Online, and Offline. Offline segment is expected to grow rapidly at a CAGR of xx% during the forecast period. The offline segment led the market & accounted for more than 80.0 % share of the total revenue. Being a traditional technique of shopping & the occurrence of leading companies like Inter Ikea Group & Home center with a wide range of products & discounts are the key factors driving the segment. Moreover, the awareness among the customer group that the online retailers will not effectively deliver fragile items like ceramic & glass cookware is also one of the causes for the segment development. These are the key factor that drives the growth of the offline segment in the global market during the forecast period.

Online segment is expected to grow rapidly at a CAGR of 5.3% during the forecast period. The segment's growth is being driven by rising internet usage and penetration in rural areas. Due to simple accessibility and door-to-door services with replacement and return assurances, young working consumers with hectic schedules prefer to shop online. These are the major factors that are driving the segment forward.
Kitchenware Market Regional Insights:
Europe dominates the Global Market during the forecast period 2023-2029. Europe is expected to hold the largest market shares of 34.0% by 2029. Some of the elements driving the market in the region are the presence of high and elite income groups, as well as an enhanced lifestyle.

Asia Pacific is expected to grow rapidly at a CAGR of 5.0% during the forecast period 2023-2029. The Asia Pacific is the firmest growing regional market owing to high demand from emerging nations like India & China. Changing lifestyles & growing disposable income are anticipated to drive the district market in the forecast period. A growing number of households due to rising population & rapid growth are also some of the prominent factors improving the market development in the region. The increasing number of hotels & resorts owing to the rising trend of traveling to locations like Thailand & Malaysia are driving the market development in the region. These are the major key factors that boost the growth of Asia Pacific region in the global market during the forecast period.

The objective of the report is to present a comprehensive analysis of the Global Kitchenware Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also helps in understanding the Global Kitchenware Market dynamic, structure by analyzing the market segments and project the Global Kitchenware Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Kitchenware Market make the report investor’s guide.
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Kitchenware Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 67.82 Bn.


Forecast Period 2023 to 2029 CAGR:
4.5%
Market Size in 2029:
US $ 92.29 Bn.


 Segments Covered:
by Product
Cookware
Bakeryware
Others


by Distribution Channel
Online
Offline


by End User
Residential Kitchen
Commercial Kitchens



Kitchenware Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Kitchenware Market Key Players are:
1. Boffi
2. Scavolini S.p.a
3. Tupperware
4. Viners
5. Chasseur
6. Kenwood Limited
7. TTK Prestige Ltd
8. KitchenAid
9. Miele
10.Whirlpool Corp.
11.LG Electronics
12.AB Electrolux
13.Samsung Electronics Co. Ltd
14.Haier Group
15.Panasonic Corporation
16.Middleby Corporation

Frequently Asked Questions:

1. Which region has the largest share in Global Kitchenware Market?
Ans: Europe region held the highest share in 2022.

2. What is the growth rate of Global Kitchenware Market?
Ans: The Global Kitchenware Market is growing at a CAGR of 4.5% during forecasting period 2023-2029.

3. What is scope of the Global Kitchenware market report?
Ans: Global Kitchenware Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Kitchenware market?
Ans: The important key players in the Global Kitchenware Market are – Boffi, Scavolini S.p.a, Tupperware, Viners, Chasseur, Kenwood Limited, TTK Prestige Ltd, KitchenAid, Miele, Whirlpool Corp., LG Electronics, AB Electrolux, Samsung Electronics Co. Ltd, Haier Group, Panasonic Corporation, and Middleby Corporation

5. What is the study period of this market?
Ans: The Global Kitchenware Market is studied from 2022 to 2029.