Technological improvements and evolving consumer preferences are shaping this market at a rapid rate. Companies have always striven to monitor new developments and innovations in this category. For instance, manufacturers are providing customized cookware for cooking fish, chicken and other meat, as meat requires cookware which is well coated. Non-stick Cookware can be customized according to the requirement, requirement could be about color, size, and shape. As, some cuisines require particular kind of vessel and has feature of less oil consumption and even heats up quickly to save time
According to TMR, global Non-stick cookware market was valued at US$ 19.6 Bn in 2018 and is forecast to expand at a CAGR of 4.1% from 2019 to 2027, reaching a value of US$ 28.1 Bn in 2027.
In terms of geography, the Europe is estimated to hold leading position in the global nonstick cookware market as it held leading position in the year 2018. This is attributable to the growing demand for safe and innovative cookware in the region. However, Asia Pacific is estimated to be the region expanding at a robust CAGR in coming years.
Strong Presence Of Ceramic Coating At Global Level
Ceramic is a newer material in the world of Non-stick Cookware. It’s broadly considered to be the safest and most environmentally friendly option. Ceramic is free of PTFE and PFOA. Ceramic cookware is a moderately new technology, there have been many development in quality in past years. Companies are applying more layers of ceramic, so the coatings are getting thicker. Thicker coatings mean longer lifespans. However, rising demand of toxin free products is driving the sales of ceramic coating at global level.
Development in Kitchen Accessories Will propels adoption of non-stick cookware
People residing in urban areas, view kitchenware as a lifestyle accessory and thus purchase non-stick cookware as it is more premium compared to traditional cookware. With such lifestyle of people in urban areas, usage of cookware in terms to make the product part of an aspiring lifestyle from the functional kitchen tool, has become a necessity. Such aspirations include being environmental friendly and the health and the safety of the products offered
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Paradigm shift in buying preferences
The Cookware Industry has faced a drastic change over the past few years. Consumers previously would follow the traditional approach of catering in terms of the recipes, vessels and methods etc. As the world is getting smarter and better, people have now started making new choices and moving towards the modern way of approach. Non-stick cookware have different advantages which includes simple cleanup and less amount of fuel used while cooking. Due to the better use of social media, many, innovations, promotions and recipes related to cooking are presented which is a driving factor for the use of Non-stick Cookware. With the help of advanced technology of non-stick cookware and taking into consideration above factors, consumers are preferring non-stick cookware over traditional cookware. These factors are expected to drive the growth of the non-stick cookware after market during the forecast period.
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Nonstick cookware market features competitive vendor landscape owing to a large number of key players operating in the market. Additionally, rising efforts to tap the present growth opportunities in the market is likely to increase competition among players in coming years. Along with product innovations and increasing durability of products, the market players are focusing on the trying the strategies such as merger and acquisitions for putting strong foot hold in the global nonstick cookware market. Berndes, Le Creuset, Scanpan, Circulon, Moneta Cookware, Calphalon (Newell Brands LLC), Gibson Brands, Inc., Anolon, Farberware Licensing Company, LLC, Cuisinart, T-fal, and All-Clad, NeoFlam are some of the key players in the global nonstick cookware market
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