Kitchenware Market Analysis Report By Product, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global kitchenware market accounted for USD 56.8 billion, in the year 2018. It is estimated to grow significantly, at a CAGR of about 4.5% over the forecast period. There has been a rapid increase in urbanization in developing nations. Their economies are becoming stronger with time. Furthermore, the lifestyle of people has seen a massive change and the buying power of the consumers has also increased. These factors have fueled market growth from, 2018-2025.

Further, the growing preference of consumers towards having a smart kitchen is expected to provide traction to the market growth. This has also led to the change of preference of kitchenware products by the consumers. Moreover, there has been a rapid increase in the number of households in countries like India. The migration of people to different countries is also a prime reason behind the increasing number of residential buildings. These are some of the key factors which are expected to drive the market during the forecast period, 2019 to 2025.

Nowadays, most of the students from countries like India prefer going abroad for higher studies. Further, employees of different companies move abroad for work. This has accelerated the market demand. Moreover, manufacturers are focused on constantly innovating the products to gain a competitive advantage over their rivals. This has influenced the customers to constantly buy the products.

There has been a rapid increase in the hospitality segment in the Asia Pacific. A large amount of investment has been made in this sector. Moreover, the rise in the tourism sector in countries like Thailand and Malaysia has also fueled the growth of several hotels and resorts which indirectly propelled the demand for kitchenware products. The leading players in the hospitality sector are trying to improve their services to cope up with the increasing competition. Therefore, the sector is expected to provide substantial demand over the forecast period.

Globalization has impacted the adoption of different cuisines across regions. Consumers prefer to cook different types of cuisines in different kitchenware products. For example, for cooking North Indian dishes people use cookware products and for cooking Italian dishes people use bakery ware products. This has propelled the demand for kitchenware products and is expected to further drive the market over the next few years. According to the Indian tradition, most people prefer cooking vegetarian and non-vegetarian dishes in separate utensils. This has influenced them to purchase different kitchenware products in a large number. 

Distribution Channel Insights

In terms of revenue, the offline distribution channel accounted for greater than 80.0% of the kitchenware market share, in 2018. This method of shopping is prevailing in the market for the past few decades. Moreover, consumers have developed a perception that online distribution channels will not deliver the products properly as the products are very delicate. The key players such as Home center and Inter Ikea Group are deeply rooted in the market and are influencing the consumers to purchase the products using offline channels.

The online distribution channel segment is estimated to grow at a CAGR of about 5.3% during the forecast period. An increase in the number of online retail stores that provide attractive discounts, replacement facilities, and faster and safer delivery are proliferating the growth of the segment. A rise in the number of working populations who prefer using online retail shops for easier accessibility has driven the demand for this segment. Moreover, there has been a rise in the adoption and usage of the internet among the rural population which is one of the most important driving forces propelling the market growth. 

Product Type Insights

In the year 2018, the market share of the cookware segment accounted for more than 35.0% and is estimated to have the largest market share among the other segments. It has been observed that a majority of people from countries like India prefer to cook food rather than going out or ordering online. Youngsters, nowadays, are very concerned about their health and fitness. Therefore, they are more inclined towards cooking their food instead of eating outside. These are the major factors that have contributed to the growth of the cookware segment.

The segment of bakery ware is projected to grow significantly from, 2018-2025. There has been a rise in the adoption of bakeware products in countries like China and India. The lifestyle of people is changing rapidly. Their disposable income is also increasing. These factors have driven the kitchenware market growth in the forecast period. Further, there is high demand for bakery ware products in the European region as their cuisine mostly consists of baked food items. These are some of the factors resulting in the high revenue share for the bakery ware segment, in 2018. 

Regional Insights

In 2018, the revenue share held by Europe was highest with more than 34.0% and it is estimated to grow significantly in the forecast period. Germany held the largest share in Europe, in the year 2018. Further, the country is projected to grow at a CAGR of 4.4%, from 2019 to 2025. The regional growth is driven by factors such as high consumption of kitchenware products and an increase in the buying power of consumers.

The Asia Pacific is anticipated to grow at the fastest rate from, 2019 to 2025 owing to the rise in demand for the product from emerging economies like China and India. Further, there has been an increase in the number of households because of the growing population. Moreover, countries from this region have estimated continuous development, which has accelerated the demand for this product at a higher pace. The market growth is propelled by factors such as an increase in disposable income of consumers, rapid urbanization, growing hospitality &tourism sectors, and an increase in the number of resorts and hotels at tourist places in countries such as Malaysia and Thailand.

Kitchenware Market Share Insights

Leading players in this industry include Tupperware, Boffi, Viners, Scavolini S.p.a, Chasseur, TTK Prestige Ltd., KitchenAid, Whirlpool Corp., Kenwood Limited, and Miele. The leading companies are focusing more on product innovations and mergers and acquisitions and collaborations. New entrants cannot enter the market easily because of the presence of deeply rooted market players and the requirement of high investments. Manufacturers are investing more in R&D to cater to market competition. 

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For this study, Million Insights has segmented the global kitchenware market report based on product, distribution channel, and region:

• Product Outlook (Revenue, USD Billion, 2015 - 2025)
    • Cookware
    • Bakeryware
    • Others

• Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
    • Offline
    • Online

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
    • the Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa
        • Saudi Arabia