The global Nonstick Cookware Market size is expected to register a revenue of USD 12.5 billion by the end of 2025, according to a new report by Million Insights. It is expected to grow with a CAGR of 4.9% from 2019 to 2025. This market growth can be associated with increasing awareness among the millennial population for home-cooked food coupled with advantages of using non-stick utensils for cooking.
Number of hotels and restaurants across the developed as well as developing regions is increasing continuously thereby driving the market growth for nonstick cookware. Moreover, awareness prevailing among fitness enthusiasts about healthy eating habits is anticipated to positively impact the market growth.
The teflon-coated segment of non-stick cookware generated USD 3.8 billion across the global market in 2018 owing to its cost-effective nature and ease of availability across the globe. On the other hand, ceramic coated cookware appliances are anticipated to register a CAGR of 6.8% in the upcoming years due to absence of toxic ingredients in its manufacturing.
The segment of supermarkets & hypermarkets held the largest share with revenue of USD 5.4 billion across the global market in 2018 owing to availability of a wide variety of products under one roof. On the other hand, the online segment of distribution channel is expected to register the fastest CAGR of 7.0% during the forecast period due to rising usage of internet and mobiles among the millennial population.
Asia Pacific is anticipated to witness the highest growth rate with CAGR of 6.0% from 2019 to 2025 owing to rising disposable income among the working population across countries like China, Japan, and India. Europe held the largest share of 35.0% across the global nonstick cookware marketin 2018 due to the emphasis given aesthetics and functionality of cookware among the population residing in this region.
The key players in this market are Newell Brands, Scanpan, TTK Prestige Limited, Groupe SEB, All-Clad, and Hawkins Cookers. They are majorly focusing on mergers and acquisitions to gain a competitive advantage over the other players. For example, Black & Decker Corporation had partnered with Stovekraft in 2017 for launching fastener-free stainless steel pressure cookers and glass tops.
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Further key findings from the report suggest:
• In 2018, the teflon-coated product segment of non-stick cookware held the revenue of USD 3.8 billion across the global nonstick cookware market.
• The ceramic coated cookware appliance segment is anticipated to register a CAGR of 6.8% from 2019 to 2025.
• The online segment of the distribution channel is expected to register the highest growth rate with a CAGR of 7.0% during the forecast period.
• Europe held the largest market share of 35.0% across the global market in 2018.
Million Insights has segmented the global nonstick cookware market on the basis of raw material, distribution channel and region:
Nonstick Cookware Raw Material Outlook (Revenue, USD Million, 2015 - 2025)
• Teflon Coated
• Aluminum Coated
• Enameled Iron Coated
• Ceramic Coating
Nonstick Cookware Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
• Supermarkets & Hypermarkets
• Convenience Stores
• Specialty Stores
Nonstick Cookware Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa