Non-stick Cookware Market: Regional Insights and Market Potential
The global non-stick cookware market size was valued at USD 7.62 billion in 2023 and is projected to grow to USD 11.73 billion by 2030, exhibiting a CAGR of 6.4% during the forecast period.
The non-stick cookware industry is experiencing significant growth worldwide due to increasing household preference for these modern cooking utensils over traditional options. A key advantage of using non-stick cookware is its ability to redu... moreNon-stick Cookware Market: Regional Insights and Market Potential
The global non-stick cookware market size was valued at USD 7.62 billion in 2023 and is projected to grow to USD 11.73 billion by 2030, exhibiting a CAGR of 6.4% during the forecast period.
The non-stick cookware industry is experiencing significant growth worldwide due to increasing household preference for these modern cooking utensils over traditional options. A key advantage of using non-stick cookware is its ability to reduce oil consumption while cooking. Additionally, these appliances enhance the aesthetic appeal of kitchens with their diverse range of attractive colors and designs, adding a stylish touch to culinary spaces.
Fortune Business Insights™ presents this information in a report titled, "Global Non-stick Cookware Market, 2024-2030.
Fortune Business Insights™ lists out all the non-stick cookware market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
Groupe SEB (France)
TTK Prestige Ltd. (India)
Moneta Cookware (Italy)
Newell Brands (U.S.)
Bradshaw International, Inc. (U.S.)
Meyer International Holdings, Ltd. (U.S.)
StoveKraft (India)
Conair Corporation (U.S.)
The Cookware Company (U.S.)
Bundy Baking Solutions (U.S.)
Report Coverage:
The report provides a comprehensive analysis of the market, focusing on key aspects such as leading companies, types of materials, distribution channels, and product applications. It offers valuable insights into major industry trends and competitive dynamics, including significant market advancements and the overall global market forecast. Moreover, the report delves into various factors that will contribute to the industry's growth in the foreseeable future.
Drivers and Restraints:
Growing Awareness Regarding Benefits of Using Non-stick Utensils to Boost Market Trends
As compared to conventional cookery products, non-stick cookware items are much easier to wash and maintain. Customers are becoming more aware of the benefits of using these utensils. The kitchen décor & renovation trends are also constantly changing every year. These aspects are projected to drive the market expansion. Moreover, the growing consumption of confectionaries and baked items among the younger population is expected to fuel product sales. For example, Groupe SEB, a French non-stick cookware products and appliances manufacturer, reported a 12.50% jump in its cookware sales and reached USD 2,498.29 million in 2021.
However, using damaged or Teflon-coated non-stick utensils has been linked with several health problems. These may range from fever and headache to more complicated ailments such as kidney cancer. These factors could limit product adoption to some extent.
Segments
Extreme Corrosion Resistance Properties to Help Teflon Coated Segment Dominate the Market
Based on material type, the market is segmented into Teflon coated, anodized aluminum coated, ceramic coated, enameled iron coated, and others. The Teflon/PTFE material segment is anticipated to hold a major share due to its beneficial properties such as robustness, durability, and satisfactory usability.
Significant Non-stick Kitchenware Demand from Households May Foster Residential Segment Growth
In terms of end-use, the market is divided into residential and commercial. The residential segment is predicted to dominate the market due to the rising construction of residential infrastructural facilities and evolving kitchen decoration trends.
Wide Availability of Kitchenware Items May Fuel Supermarkets & Hypermarkets Segment Expansion
Based on distribution channel, the market is segmented into specialty stores, supermarkets & hypermarkets, online stores, and others. The supermarkets & hypermarkets segment might capture a sizeable industry share as these stores offer better accessibility to a variety of kitchenware items in one place.
Geographically, the market is classified into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Regional Insights:
Rising Production of Hard Anodized Aluminum Coated Cookware to Boost Asia Pacific Market Progress
The Asia Pacific global non-stick cookware market share reached USD 2.36 billion in valuation in 2022. Countries, such as India, China, and South East Asia, are extensively using cookware & bakeware products. The establishment of expansive manufacturing plants to produce hard anodized aluminum-coated cookery items in India, China, and Japan is anticipated to support the product demand across the region. For example, in 2022, the average monthly manufacturing capacity of SHANGHAI GUANHUA STAINLESS STEEL PRODUCTS CO., LTD., a Chinese producer of stainless steel cookery products, reached 700,000 to 800,000.
Competitive Landscape:
Innovation and Production Capacity Expansion Strategies Adopted by Key Players to Fuel Market Growth
Top companies, such as Groupe SEB, TTK Prestige Ltd., and others, offer non-stick cookware products powered by innovative technologies to increase their brand presence. Furthermore, these global and premium brands are acquiring newer manufacturing facilities to build their production base and strengthen their position in the global market.
For instance, in November 2021, Wonderchef Home Appliances Pvt. Ltd., an Indian kitchen appliances supplier, partnered with Sixth Sense Ventures to invest USD 20.15 million to fortify the former’s online presence, distribution network, and manufacturing base for its 600 non-stick cookery items and appliances in India.
Key Industry Development:
February 2022 - Spectrum Brands Holdings, Inc., a global consumer goods manufacturer, acquired Tristar Products Inc.’s cookware business to expand its presence in the global cookware market.
