Worldwide sales of the non-stick cookware market reached ~ 15,700 Mn US$ in 2018, unveils the new research study by Persistence Market Research (PMR). According to the report, the non-stick cookware market is estimated to grow by ~ 5.5% YOY in 2019, primarily influenced by the changing lifestyles of urban consumers, increasing demand for low oil consumption utensils and emerging cooking trends which are boosting the global non-stick cookware market landscape across the globe.
According to the report, increasing focus on utensils which keep the valuable food ingredients intact and growing preference for oil-free food is contributing to the build-up of the non-stick cookware market through 2029. An increasing number of television programs on cooking and celebrity endorsements for the same also boost the market of non-stick cookware. Product strength and durability, heat distribution and optional colors are considered as other factors that provide a fillip to the sales of non-stick cookware in 2019 and beyond. Ceramic coated non-stick cookware is seen as the emerging trend for non-stick cooking category. Due to intense market competition, manufacturers are now focused on innovative product offering such as PFOA-free cookware, multiple non-stick layer coating (3 layer, 5 layer, etc.), color variety by brands such as Rachael Ray™, KitchenAid®, Paula Deen® etc. Most of the color offerings are seen as red, blue and brown. Thus, it helps manufactures in product premiumization which has been observed as the current trend in cookware industry.
Modern Trade and Departmental Stores Selling Premium Cookware, Will Remain the Key Sales Channel
PMR observed that departmental stores, hypermarkets/supermarkets, and mass retailers are considered as the leading players in the global non-stick cookware market. According to the PMR report, end-users will continue to markedly prefer modern trade and departmental sales channels owing to greater product visibility and availability along with the option for more choices. Mass products that are defined as affordable price products in the non-stick cookware category, will have the highest market share in 2018 and are expected to hold this position during the forecast period. Premium non-stick cookware, in contrast, will have the highest growth in the same period. The growth of premium non-stick cookware is backed by the consumer’s willingness to spend more money on non-stick cookware as it becomes a lifestyle product. The colored non-stick cookware is also an example of a consumer’s growing interest in it. Rachael Ray™ is offering non-stick cookware in various color options, such as warm agave blue, cranberry red, pumpkin orange lavender and mushroom brown. KitchenAid® offers empire red and onyx black. Paula Deen® offers its products in aqua speckle, butter, coral, blueberry, honey, lavender, oatmeal, pear, and red colors, and Circulon® offers red, black & brown color options for the non-stick cookware category. The ceramic non-stick cookware category is growing the fastesr and is successful in capturing consumer’s attention. Teflon coated non-stick cookware category has accounted for a major market share; however, negative perception towards Teflon coating has left an impact on its sales. Due to growing health issues related to Teflon, manufacturers are also coming up with new green technology or eco-friendly non-stick cookware which does not harm the human body and keeps the food ingredients safe during cooking.
East Asia to Become a Lucrative Region from the Investment Perspective
- The global market for non-stick cookware is growing at a steady pace. However, East Asia is ready to snatch market share from developed countries such as North America and Europe owing to a large population, growing middle class consumers, and a growing interest in low oil consumption utensils
- According to the study, growth opportunities for the non-stick cookware market players are gaining pace in East Asia, owing to the profound growth of the regional end-user ecosystem such as the commercial sector. HoreCA (Hotel/Restaurant/Café) which represents the food service industry and is expected to contribute significantly to the non-stick cookware market. Newer opportunities blooming in the East Asia non-stick cookware market are set in motion by the growing urban population, who have a large contribution to the economy build-up across these regions.
PMR’s business intelligence also underlines groundbreaking insights into the competitive scenario of non-stick cookware market along with highlights of the manufacturers’ differential strategies. Key players in the non-stick cookware market will continue to draw upon the global sustainability drive by including ‘green’ or ‘eco-friendly’ offerings in their existing portfolios, which is likely to help them enhance customer confidence. For instance, Cuisinart’s Green Gourmet. Cuisinart’s is an American home appliance brand owned by Conair Corporation. Cuisinart’s ceramic-based nonstick surface is free of PTFE and PFOA. Another producer Scanpan is offering green tek nonstick surface in non-stick cookware category which is a proprietary ceramic titanium coating and PTFE and PFOA free, non-stick cookware.
According to the report, the manufacturers are also focusing on scratch resistant properties, durability of non-stick cookware and even heat distribution that would help consumers to cook food in an efficient way without destroying food ingredients. Some of the key players identified across the value chain of the global non-stick cookware market include Groupe SEB, Bernde, Bradshaw International, Inc., Calphalon (Newell Brands LLC), Conair Corporation, Cook N Home, Cuisinart and others.
This study underlines key opportunities in the non-stick cookware market and finds that the market would exhibit growth at a value CAGR of 5.5% during forecast period. For in-depth information on non-stick cookware market, write in to the analyst at email@example.com