Cookware market size to grow by USD 8.99 billion by 2026, Driven by growing demand for rapid penetration of regular kitchen stoves using LPG as fuel in emerging countries in APAC - Technavio

NEW YORK, Feb. 20, 2023 /PRNewswire/ -- According to Technavio, the global cookware market size is estimated to grow by USD 8.99 billion from 2022 to 2026. The growth momentum of the market will accelerate at a CAGR of 5.8% during the forecast period. APAC will account for 42% of the market's growth during the forecast period. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. For more Insights on market size. Request a sample report

Global cookware market - Five Forces
The global cookware market is fragmented, and the five forces analysis covers– 

• Bargaining Power of Buyers 
• The threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
• Threat of Substitutes
• Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

Global cookware market – Customer Landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global cookware market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on products (Aluminium, Stainless steel, and Others).

• The aluminum segment will account for a significant share of the market's growth during the forecast period. Factors such as increasing health awareness among consumers and a growing emphasis on oil-free diets have accelerated the demand for non-stick cookware products over the last few years. Additionally, non-stick cookware also offers the convenience of easy cleaning and handling to end-users. Aluminum cookware is being increasingly adopted in emerging economies such as India and China. With several government initiatives in these countries spurring the rapid penetration of kitchen stovetops and LPG cylinders, several customers increasingly prefer aluminum cookware over costlier alternatives such as stainless steel and copper. 

Geography Overview
By geography, the global cookware market is segmented into APAC, Europe, North America, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global cookware market.

• APAC will account for 42% of the market's growth during the forecast period. Factors such as the rapid penetration of gas stovetops and LPG connections in developing countries such as India and China will facilitate the cookware market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

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Global cookware market – Market Dynamics
Key factor driving market growth

• One of the key factors driving growth in the cookware market is the rapid penetration of regular kitchen stoves using LPG as fuel in emerging countries in APAC. 
• Over the last few years, the extensive growth of liquefied petroleum gas (LPG) as the primary fuel used for cooking applications, especially in emerging countries in APAC, such as India, and China, has subsequently reflected in the sales of these cookware products.
• Leading consumers of LPG in APAC such as India, China, and Indonesia are expected to continue to witness high adoption of cooking gas in households during the forecast period.
• Government initiatives have also encouraged the growth in the application of LPG cylinders for cooking applications.
• The growth in penetration of LPG in these key countries that have a high customer base is expected to boost the sales of compatible cookware products.

Leading trends influencing the market 

• The induction-compatible copper cookware is another factor supporting the cookware market share growth. 
• With the growing popularity of induction cooktops, there has been a rise in customer demand for multi-cooktop compatible cookware that can be used for both gas and induction stovetops. Copper is a preferred cookware material owing to its even heat distribution properties.
• While copper cookware continued to be a niche market in 2018, several copper cookware vendors are providing a range of induction-compatible copper pots and pans. These pans are lined with magnetic stainless steel instead of traditional tin linings, thus making them compatible with induction stovetops.
• The growing popularity of induction cooktops due to their overall cost efficiency and faster cooking times is expected to continue well into the forecast period. Subsequently, multi-cooktop compatible cookware is expected to remain a key trend during the forecast years. 

Major challenges hindering the market growth

• The growing threat from the unorganized sector will be a major challenge for the cookware market during the forecast period. 
• Over the last few years, the presence of the unorganized sector in the global cookware market, especially in developing countries in APAC such as India and China, has been a major hurdle for market vendors.
• The presence of a diverse customer base in these emerging economies poses market penetration challenges to organized market vendors.
• According to TTK Prestige, the unorganized market in India sells cookware products such as pressure cookers and non-stick cookware at around 20% cheaper than organized players.
• Organized vendors such as TTK Prestige and Hawkins Cookers have lost significant market share to the unorganized sector due to low market penetration in rural areas which account for a high customer base in countries such as India and China.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this cookware market report?

• CAGR of the market during the forecast period.
• Detailed information on factors that will drive the growth of the cookware market between 2022 and 2026
• Precise estimation of the size of the cookware market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the cookware market industry across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of cookware market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Product

• 5.1 Market segments
• Exhibit 24: Chart on Product - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Product - Market share 2021-2026 (%)

• 5.2 Comparison by Product 
• Exhibit 26: Chart on Comparison by Product
• Exhibit 27: Data Table on Comparison by Product

• 5.3 Aluminium - Market size and forecast 2021-2026 
• Exhibit 28: Chart on Aluminium - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Aluminium - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Aluminium - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Aluminium - Year-over-year growth 2021-2026 (%)

• 5.4 Stainless steel - Market size and forecast 2021-2026 
• Exhibit 32: Chart on Stainless steel - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Stainless steel - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Stainless steel - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Stainless steel - Year-over-year growth 2021-2026 (%)

• 5.5 Others - Market size and forecast 2021-2026 
• Exhibit 36: Chart on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Others - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Others - Year-over-year growth 2021-2026 (%)

• 5.6 Market opportunity by Product 
• Exhibit 40: Market opportunity by Product ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 42: Chart on Market share by geography 2021-2026 (%)
• Exhibit 43: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 44: Chart on Geographic comparison
• Exhibit 45: Data Table on Geographic comparison

• 7.3 APAC - Market size and forecast 2021-2026 
• Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026 
• Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 North America - Market size and forecast 2021-2026 
• Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.6 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.7 South America - Market size and forecast 2021-2026 
• Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.8 China - Market size and forecast 2021-2026 
• Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.9 US - Market size and forecast 2021-2026 
• Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.10 India - Market size and forecast 2021-2026 
• Exhibit 74: Chart on India - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on India - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on India - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on India - Year-over-year growth 2021-2026 (%)

• 7.11 Germany - Market size and forecast 2021-2026 
• Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.12 UK - Market size and forecast 2021-2026 
• Exhibit 82: Chart on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 87: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 89: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 90: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 91: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 92: Matrix on vendor position and classification

• 10.3 Cristel USA
• Exhibit 93: Cristel USA - Overview
• Exhibit 94: Cristel USA - Product / Service
• Exhibit 95: Cristel USA - Key offerings

• 10.4 Gorenje Group
• Exhibit 96: Gorenje Group - Overview
• Exhibit 97: Gorenje Group - Business segments
• Exhibit 98: Gorenje Group - Key offerings
• Exhibit 99: Gorenje Group - Segment focus

• 10.5 Groupe SEB
• Exhibit 100: Groupe SEB - Overview
• Exhibit 101: Groupe SEB - Business segments
• Exhibit 102: Groupe SEB - Key news
• Exhibit 103: Groupe SEB - Key offerings
• Exhibit 104: Groupe SEB - Segment focus

• 10.6 Hawkins Cooker Ltd.
• Exhibit 105: Hawkins Cooker Ltd. - Overview
• Exhibit 106: Hawkins Cooker Ltd. - Product / Service
• Exhibit 107: Hawkins Cooker Ltd. - Key offerings

• 10.7 Meyer International Holdings Ltd 
• Exhibit 108: Meyer International Holdings Ltd - Overview
• Exhibit 109: Meyer International Holdings Ltd - Product / Service
• Exhibit 110: Meyer International Holdings Ltd - Key offerings

• 10.8 Newell Brands Inc.
• Exhibit 111: Newell Brands Inc. - Overview
• Exhibit 112: Newell Brands Inc. - Business segments
• Exhibit 113: Newell Brands Inc. - Key news
• Exhibit 114: Newell Brands Inc. - Key offerings
• Exhibit 115: Newell Brands Inc. - Segment focus

• 10.9 Robert Bosch Stiftung GmbH 
• Exhibit 116: Robert Bosch Stiftung GmbH - Overview
• Exhibit 117: Robert Bosch Stiftung GmbH - Product / Service
• Exhibit 118: Robert Bosch Stiftung GmbH - Key offerings

• 10.10 Supreminox SA
• Exhibit 119: Supreminox SA - Overview
• Exhibit 120: Supreminox SA - Product / Service
• Exhibit 121: Supreminox SA - Key offerings

• 10.11 The Middleby Corp.
• Exhibit 122: The Middleby Corp. - Overview
• Exhibit 123: The Middleby Corp. - Business segments
• Exhibit 124: The Middleby Corp. - Key offerings
• Exhibit 125: The Middleby Corp. - Segment focus

• 10.12 TTK Prestige Ltd.
• Exhibit 126: TTK Prestige Ltd. - Overview
• Exhibit 127: TTK Prestige Ltd. - Product / Service
• Exhibit 128: TTK Prestige Ltd. - Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 129: Inclusions checklist
• Exhibit 130: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 131: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 132: Research methodology
• Exhibit 133: Validation techniques employed for market sizing
• Exhibit 134: Information sources

• 11.5 List of abbreviations 
• Exhibit 135: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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