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Global Cookware Market 2019-2023 | Rapid Growth in Online Sales … |

Global Cookware Market 2019-2023 | Rapid Growth in Online Sales …

LONDON–(BUSINESS WIRE)–Technavio
analysts forecast the global cookware market to grow at a CAGR of over
4% during the forecast period, according to their latest market research
report.

The growing emphasis on cookware aesthetics and functionality is one of
the major trends being witnessed in the global
cookware market 2019-2023
. The growing customer demand for
highly functional and ergonomic cookware products is attributable to the
increasing awareness of cookware designs and aesthetics. Also, the shift
toward sustainability, especially in developed economies such as the US
and Western European countries, has resulted in vendors in the global
cookware market coming out with earthy designs and modular concepts.
With developments in printing technology, vendors can replicate stone
and wood finishes on exterior surfaces of cookware such as pots and
woks. Additionally, the shift toward smaller room sizes in households
and modular kitchen designs have encouraged optimized utensil designs in
cookware. Thus, the trend of optimal cookware design is expected to
influence the global cookware market during the forecast period.


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According to Technavio analysts, one of the key factors contributing to
the growth of the global cookware market is the rapid growth in online
sales:

Global cookware market: Rapid growth in online
sales

The growing penetration of technology and Internet-enabled devices has
contributed to several vendors in the global cookware marketplace to
increase focus on e-commerce channels. While vendors such as TTK
Prestige and Hawkins Cookers offer online purchase options through their
company websites for customers, several other vendors have tie-ups with
online e-commerce retail platforms such as Amazon. Offline sales
channels such as retail stores continued to account for a major share of
sales revenue for vendors in the global cookware market in 2018.
However, factors such as increased spending by vendors on online
advertising and the rapid development of Internet infrastructure in
emerging economies such as India and China are expected to aid the
online sales of cookware products. Therefore, the growing consumer shift
toward personalized shopping through digital devices is expected to
boost online sales over the forecast period.

According to a senior analyst at Technavio, “Apart from rapid growth
in online sales, the rapid penetration of regular kitchen stoves using
LPG fuel in emerging countries, growing popularity of induction
cookware, induction compatible copper cookware, and the rising
popularity of ceramic coated non-stick cookware are some other factors
that are boosting the growth of the global cookware market.”

Global cookware market: Segmentation analysis

The global cookware market research report provides market segmentation
by material (aluminum, stainless steel, others), and by region (the
Americas, EMEA, and APAC). It provides an in-depth analysis of the
prominent factors influencing the market, including drivers,
opportunities, trends, and industry-specific challenges.

The APAC region held the largest share of the market in 2018, accounting
for close to 38% share, followed by the EMEA and Americas respectively.
In 2018, the growth of the cookware market in APAC was primarily driven
by the rapid penetration of gas stovetops and LPG connections in
developing countries such as India and China. During the forecast
period, the APAC region is expected to register the highest incremental
growth as several consumers in APAC prefer traditional gas stovetops
over induction cooktops.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

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is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists
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spanning across 50 countries. Their client base consists of enterprises
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competitive positions within changing market scenarios.

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