25-Oct-2021 | Zion Market Research
Global Kitchenware Market: Overview
In terms of revenue, the global Kitchenware Market accounted for USD 50,424 Million in 2020 and is expected to reach USD 75,828 Billion by 2028, growing at a CAGR of 4.8% from 2021 to 2028.
One of the major factors that drives the market is upward penetration of technology and internet-enabled devices which has allowed several vendors in the global kitchenware market place to increase their presence on e-commerce channels. The growing importance of cookware aesthetics and functionality and increasing awareness among consumers of using more environmentally friendly products are the major global kitchenware market trends.
Global Kitchenware Market: Growth Factors
Emerging market economies in developing countries are significant in driving global economic growth. Currently, emerging market countries generate more than 50% of the world’s economic growth. By 2050, it is projected that the main three largest economies will be China, India, and the United States, two of the three countries out of them are emerging market economies. Emerging market economy is transforming from a less advanced, less income and pre-industrial economy to a modern, industrial economy with a developed standard of living. For the prospect of high returns, investors seek out emerging markets, since they frequently experience faster economic growth as measured by GDP. Moreover, emerging economies such as India, China, and Brazil are vigorously looking towards their infrastructure development.
Global Kitchenware Market: Segmentation
In today's society, people are living a very busy life. With the increasing pressure from work and family, many consumers live a fast-paced lifestyle which has changed their quality of life. This has led to a significant change in consumer buying behaviors as they look for convenience and products that can help them manage the numerous demands on their time. In this modern society, people have a lot of different choices when it comes to shopping. Owing to the busy lifestyle people are shifting towards online trend. Also, the availability of lot of options and with several discounts on buying is fueling the adoption of the online shopping.
Global Kitchenware Market: Regional Analysis
North America is projected to continue dominating the global Kitchenware Market. Factors propelling growth in the North American market are increasing number of constructions, residential and commercial areas. Owing to the increasing number of populations the residential areas are growing tremendously. Also, the adoption of hotel foods is also increasing owing to the increasing population and busy lifestyle. Also, the spending power of people is also increasing leading to increase in the adoption of hotel uses and new building and constructions. Moreover, the presence of major key players also players an important role in boosting the growth of the kitchenware market in North America market. There are 54,200+ hotel properties in the United States, filling over 5 million guestrooms. There are more than 1.1 billion guest’s nights annually in the United States which can also be the reason for the growth of the kitchenware market.
Browse the full “Kitchenware Market Type Segment Analysis (Food Storage, Cookware, Dinnerware, Dish Drying Racks & Shelves, Others), Distribution Channel Segment Analysis (Supermarkets/Hypermarkets, Specialty Retail, Online Retail, Others) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2021-2028.” Report at https://www.zionmarketresearch.com/report/kitchenware-market
Global Kitchenware Market: Competitive Players
Boffi, Scavolini S.p.a, Tupperware, Viners, Chasseur, Kenwood Limited, TTK Prestige Ltd., Miele, Whirlpool Corp., Kitchenaid are the key players in the global Kitchenware Market.
Global Kitchenware Market: Regional Segment Analysis
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