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Kitchenware Market to Record a Sluggish CAGR of 4.5% By 2025: Grand View Research ,Inc

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Kitchenware Market to Record a Sluggish CAGR of 4.5% By 2025: Grand View Research ,Inc

September 28
20:04 2019
Kitchenware Market to Record a Sluggish CAGR of  4.5% By 2025: Grand View Research ,Inc

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, Growing hospitality industry, urbanization, increasing number of households, and rising disposable income are some of the prominent factors for the kitchenware market growth.

According to a report, “ Kitchenware Market Size, Share & Trends Analysis Report By Product (Cookware, Bakeryware), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc., The global kitchenware market size is expected to reach USD 77.4 billion by 2025,Expanding at a CAGR of 4.5% over the forecast period. Growing hospitality industry, urbanization, increasing number of households, and rising disposable income are some of the prominent factors for the market growth.

The cookware product segment dominated the market and accounted for more than 35.0% share of the overall revenue in 2018. Consumers prefer to cook different types of cuisines, especially in countries such as India and China. This is likely to drive the market for cookware to the positive side in the forecast period. Bakeryware is anticipated to register the fastest CAGR of 5.0% in the forecast period. Increasing popularity of baked foods and usage of breads and cakes are propelling the market demand for bakeryware in the timeframe.

Further key findings from the study suggest:

  • By product, bakeryware is projected to ascend at a CAGR of 5.0% over the forecast period
  • The offline segment is among the most preferred distribution channel and the segment accounted for more than 80.0% share of the global revenue in 2018
  • Asia Pacific is the fastest growing region with a CAGR of 5.0% due to growing urbanization and increasing number of households.

U.S. kitchenware market

The offline segment constituted majority of the market share due to being a traditional way of shopping and perception that the online retailers will fail to deliver the fragile item properly. Online channel is expected to register the fastest CAGR of 5.3% in the forecast period. Increasing usage and penetration of internet in the rural areas is influencing the segment growth. Young working consumer group with hectic schedules prefer to shop online due to easy accessibility and door step services with replacement and return guarantees. These are the prominent factors boosting the segment growth.

Request A Free Sample Copy Of Kitchenware Market Report At: www.grandviewresearch.com/industry-analysis/kitchenware-market/request/rs1

Europe dominated the kitchenware market and accounted for 34.0% share of the overall revenue. Presence of high and elite income groups and improved lifestyle are some of the factors driving the market in the region. APAC is anticipated to expand at the fastest CAGR of 5.0% in the forecast period. Rapid urbanization, economic growth, and changing lifestyle are propelling the market growth in the region.

Product Insights

The cookware segment accounted for the leading share of more than 35.0% in 2018 and is expected to witness significant growth in the near future. In countries such as India, a large population prefer to cook their meal on their own. Thus, it increases the demand for cookware products. Increasing health awareness among consumers regarding adverse effects of junk food. Changing trends have influenced the young bachelors to cook their food instead of consuming junk food. These are the prominent factors for the segment growth.

The bakeryware segment is expected to register a significant CAGR during the forecast period. Changing lifestyle, increasing disposable income, and growing popularity of baked food are impelling the market demand for the segment. Adoption of the product in developing countries like India and China is expected to drive the segment significantly in the forecast period. China is the 10th largest consumer of baked food and Indonesia and South Korea are the leading exporters of the products to China. Apart from APAC regions, high usage of the product in European countries is fueling the market growth at a significant rate.

Regional Insights

In 2018, Europe led the kitchenware market with a share of 34.0% and is anticipated to expand at a significant CAGR in the near future. In Europe, Germany contributes to majority of the share and is expected to register a CAGR of 4.4% over the forecast period. High usage of different types of kitchenware and spending power of the consumer group are driving the market in the region.

Global kitchenware market

Asia Pacific is the fastest growing regional market due to high demand from the developing countries such as India and China. Changing lifestyle and increasing disposable income are expected to drive the regional market in the forecast period. Increasing number of households due to growing population and rapid development are also some of the prominent factors boosting the market growth in the region. Increasing number of hotels and resorts due to growing trend of travelling to locations such as Thailand and Malaysia is fueling the market growth in the region.

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Further key findings from the study suggest:

  • By product, bakeryware is projected to ascend at a CAGR of 5.0% over the forecast period
  • The offline segment is among the most preferred distribution channel and the segment accounted for more than 80.0% share of the global revenue in 2018
  • Asia Pacific is the fastest growing region with a CAGR of 5.0% due to growing urbanization and increasing number of households.

Grand View Research has segmented the global kitchenware market on the basis of product, distribution channel, and region:

Kitchenware Product Outlook (Revenue, USD Billion, 2015 – 2025)

  • Cookware
  • Bakeryware
  • Others

Kitchenware Distribution channel Outlook (Revenue, USD Billion, 2015 – 2025)

  • Online
  • Offline

Kitchenware Regional Outlook (Revenue, USD Billion, 2015 – 2025)

  • North America
    • S.
  • Europe
    • Germany
    • K.
  • Asia Pacific
    • China
    • India
  • CSA
    • Brazil
  • MEA
    • Saudi Arabia

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: www.grandviewresearch.com/industry-analysis/kitchenware-market

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