The Asia-Pacific market for cookware is projected to have a considerable CAGR of around 7.5% during the forecast period. Earlier till three years back, cookware retail hardly received attention as a major retail sector in any of the Indian retail sector analyses. However, the market is gradually improving. More than a functional demand of Indian consumers, modern retail in the sector is emerging by offering products for the diverse needs of the customers in terms of price and fashion. According to the one article published by Insight success, currently, the cookware market in India is projected to be in the range of around $360 million. The market consists of a high number of organized and unorganized players representing only 35-40% of the market share.
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Indian Cookware has witnessed a drastic change and is fast growing as people are getting advance, and smarter, they have started making new choices and moving towards a modern approach from the traditional approach. The new range of products such as Non-stick cookware making an entry into the market, therefore, propelling the growth of the market even further. Moreover, consumers are getting inspired and becoming more aware of the cookware through cooking shows on TV, and this in turn influencing the Indian consumers to increase their demand for cookware products. Additionally, mass manufacturing is making efforts to deliver cookware at low cost, and that as a result extending the range of customer choice.
when it comes to trends, various trends are dominating the market growth, that includes stylizing of cookware that transforms the product from a functional kitchen tool to aspired lifestyle. Such aspirations include environmental friendliness ‘green’ concerns along with health and safety associated with the product. However, the safety of the non-stick coatings of cookware is one of the most important trends that the cookware industry has to deal with the growing tendency.
After introducing stylish cookware, the brands are now coming up with a new trend known as multi-purpose appliances and this introduction has boosted the market to a large extent and made the kitchen life the people much simpler. Therefore, the cookware market has become more like a technology market creating new opportunities for the cookware market growth by continuous innovation, new launches, and new updates. For instance, in September 2021, TTK Prestige Ltd launched stainless steel casseroles in two variants, Royale and Prime. The initial launch will take place in North Indian markets and these products are Made in India keeping with the company’s commitment to the Atmanirbhar Bharat Abhiyan.
Market Coverage
- The market number available for – 2021-2027
- Base year- 2021
- Forecast period- 2021-2027
Segment Covered-
- By Material
- By Application
- By Product
- Competitive Landscape- Target Brands, Inc, TTK Prestige LTD, Hawkins Cookers Ltd, Robert Bosch GmbH, and Samsung Electronics Co., Ltd.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Asia-Pacific Cookware Market Report Segment
By Material
- Stainless Steel
- Aluminium
- Others (Glass)
By Application
- Residential
- Commercial
By Product
- Pots & Pans
- Soup Ladle
- Spoon
- Whisk
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
