Kitchenware Market CAGR Calculation, Region Wise Scope, SWOT Analysis & Key Vendors Study, 2025

Felton, Calif., USA, Sep 28, 2021 — /EPR Network/ —

The global Kitchenware Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global kitchenware market is projected to reach USD 77.4 Billion by the end of 2025, according to a new report released by Million Insights. It is anticipated to grow at a CAGR of 4.5% during the forecast period, 2019 to 2025. There has been rapid increase in urbanization in developing nations. Furthermore, the lifestyle of people has changed drastically, and the buying power of the consumer has also increased. These factors have fueled market growth from 2019-2025.

Key Players:

  • Boffi
  • Scavolini S.p.a
  • Tupperware
  • Viners
  • Chasseur
  • Kenwood Limited
  • TTK Prestige Ltd.
  • KitchenAid
  • Miele

Request free sample to get a complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/global-kitchenware-market/request-sample

Growth Drivers:

Further, 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.

Product Outlook:

  • Cookware
  • Bakeryware

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 own food instead of eating outside.

The segment of bakeryware is projected to grow significantly from, 2018-2025. There has been a rise in the adoption of bakeryware 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.

Distribution Channel Outlook:

  • Online
  • Offline

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.

Regional Outlook:

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%, during 2019 to 2025. The regional growth is driven by factors such as high consumption for kitchenware products and increase in the buying power of consumers.

Asia Pacific is anticipated to grow at the fastest rate during, 2019 to 2025 owing to 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 increase in disposable income of consumers, rapid urbanization, growing hospitality &tourism sectors, and increase in number of resorts and hotels at tourist places in countries such as Malaysia and Thailand.

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