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.
In terms of revenue, the global Kitchenware market size, share 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.
Kitchenware are products that are used as tools, utensils, and cookware made up of several metals like aluminum, copper, iron and lead along with alloys, and non-metals. The general kitchen products include food storage utensils, cookware and dinnerware sets, and other tools that can be used for cutting different food items, heating food on fire, crushing, and baking, blending, and measuring purposes. Kitchenware products are also helpful to store food before and after preparation. 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 marketplace 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.
During the pandemic, many small companies have shut down. Due to lockdown in almost all countries across the globe, Hotels and Motel Businesses are also suffering. Owing to the lockdown during pandemic the hotels and motel Business were totally shutdown, commercial activities such and fast foods and others are also under strict restrictions. Also, the distribution channel for the kitchenware is also affected owing to the ban on travelling. Such factors have hampered the growth of the kitchenware market. However, after a rough phase, all the activities can be seen to get on track with new inflow of investments. In developing countries, the food holds the huge demand owing to the increasing investment, improving infrastructure and increasing population. Adoption of the online portals through various third party channels will help in gaining the market in long term process.
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.
The economic growth of countries with an emerging market economy typically grows by 6% to 7% annually, whereas countries with an already well-established economy report a growth rate below 3%. As a consequence, the GDP growth rates for developing market economies outperform those of developed nations. Economic improvement in a country can lift its people out of poverty, which shifts them into the middle class. As countries increase their productivity levels and make use of additional streams of income, it provides individuals with a higher standard of living. The rising preference for integrated kitchens, coupled with the improving living standards, is also anticipated to augment the growth of the market.
|Historic Years||2018 - 2022|
|Forecast Years||2023 - 2030|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2023 to 2030|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
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.
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. Besides, 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.
Asia Pacific is holding the second position in the global market. India and China are the leading economies in the regions and holding a prominent position in the regional Kitchenware Market. In the last few years, the region has witnessed a significant growth in the kitchenware market owing to increases in construction activities for residential and commercial areas. The regional market has constantly been experiencing a surge in the overall output. Asia Pacific has strong presence of hotels and Motel’s businesses. They are majorly concentrated in India, China, Japan, among others. In addition to this, a greater number of hotels and Motel’s businesses plans are being shifted to the region because of cheap labor, favorable government regulations, and population base. Also, the growing residential areas along with population have boosted the demand for kitchenware market in this region. During last few years there is significant increase in the investment in hotel industry. Different companies are focusing to enter the market owing to the presence of huge untapped opportunity.
Some of key players in Kitchenware Market are,
Type Segment Analysis
Distribution Channel Segment Analysis
The global Kitchenware Market was valued at USD 50,424 Million in 2020.
The global Kitchenware Market is expected to reach USD 75,828 Million by 2028, growing at a CAGR of 4.8% between 2021 to 2028.
Kitchenware Market 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.
North America held a substantial share of the Kitchenware Market in 2020.
Some of the major companies operating in the Kitchenware Market are Boffi, Scavolini S.p.a, Tupperware, Viners, Chasseur, Kenwood Limited, TTK Prestige Ltd., Miele, Whirlpool Corp., Kitchenaid.
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