The Latest Kitchenware Industry Statistics Explained
The global kitchenware market size was valued at $56.8 billion in 2020.
In 2020, the global kitchenware market had a market size of $56.8 billion, indicating the total value of kitchenware products sold worldwide during that year. This statistic reflects the substantial economic significance of the kitchenware industry, encompassing a wide range of products such as cookware, utensils, appliances, and gadgets for use in both residential and commercial kitchens. Factors contributing to this market size include evolving consumer preferences, lifestyle changes, innovations in product design and materials, and the growing popularity of cooking and dining at home. As a key segment of the broader household goods industry, the kitchenware market plays a vital role in meeting the needs and desires of consumers seeking high-quality and functional products for food preparation and cooking purposes.
This same market is expected to grow at a CAGR of 4.5% from 2021 to 2028.
This statistic implies that the market in question is forecasted to experience a Compound Annual Growth Rate (CAGR) of 4.5% from the year 2021 to 2028. CAGR is a measure used to calculate the average annual growth rate of an investment over a specified period of time, in this case, over the span of seven years. The 4.5% CAGR suggests that the market is expected to steadily expand at a consistent rate each year during this period. This projection provides insights into the anticipated growth trajectory of the market and indicates the potential for increased opportunities and revenue within the industry.
Asia Pacific held the largest market share for kitchenware in 2020, accounting for over 36% of the market.
The statistic indicates that in 2020, the Asia Pacific region dominated the kitchenware market as it held the largest market share, accounting for over 36% of the total market. This suggests that consumers in the Asia Pacific region have a significant demand for kitchenware products, leading to a higher market penetration compared to other regions. The high market share also indicates that manufacturers and retailers in the Asia Pacific region have successfully captured a substantial portion of the kitchenware market, showcasing strong competition and potential growth opportunities in the region’s kitchenware industry.
Over 57% of kitchenware sales in 2018 were online sales.
The statistic that over 57% of kitchenware sales in 2018 were online sales indicates a significant shift in consumer behavior towards e-commerce platforms for purchasing kitchen products. This trend suggests that an increasing number of consumers are choosing the convenience and accessibility of online shopping over traditional brick-and-mortar stores when it comes to purchasing kitchenware items. The growing popularity of online sales for kitchenware also reflects the broader trend of the digital transformation of retail industries, highlighting the importance for businesses in the kitchenware sector to have a strong online presence and e-commerce strategy to meet the evolving demands of their customer base.
The global company Tupperware Brands Corporation reported household sales of $1.74 billion in 2017.
The statistic that the global company Tupperware Brands Corporation reported household sales of $1.74 billion in 2017 indicates the total revenue generated from direct selling to consumers within households during that year. This figure reflects the company’s success in selling its products to individuals for personal use and suggests the extent of its reach in the market. By quantifying the amount of sales achieved within households, this statistic provides insight into the company’s financial performance and its competitiveness within the consumer goods industry. The reported sales figure serves as a key metric for assessing Tupperware’s market presence, growth trajectory, and overall business health for the specified time period.
The North American market for kitchenware stood at $13 billion in 2020.
The statistic “The North American market for kitchenware stood at $13 billion in 2020” indicates the total value of sales related to kitchenware products in North America for that specific year. This figure quantifies the market size and economic importance of the kitchenware industry in North America. It suggests a substantial demand for kitchenware products in the region, likely driven by factors such as consumer preferences, lifestyle trends, and household spending. This statistic serves as a key indicator for businesses and policymakers to understand the market dynamics, make strategic decisions, and assess the overall health and growth potential of the kitchenware sector within the North American economy.
The European cookware market is expected to reach $6.7 billion by 2025.
The statistic ‘The European cookware market is expected to reach $6.7 billion by 2025’ indicates the projected size of the cookware market in Europe by the year 2025. This information suggests that the market is anticipated to continue growing, with an estimated value of $6.7 billion. This figure is significant as it highlights the increasing demand and spending in the cookware industry within the European region. Factors such as changing consumer preferences, rising disposable incomes, and evolving culinary trends may be driving this growth, making it a lucrative market for businesses operating in the cookware sector.
The Chinese kitchenware market was valued at $9.5 billion in 2018.
The statistic indicates that the Chinese kitchenware market had a total value of $9.5 billion in the year 2018. This figure represents the total amount of money spent on kitchenware products within China during that specific year. It suggests a significant market size and consumer demand for kitchenware items in China. This information can be useful for industry analysts, companies operating in the kitchenware sector, and investors looking to understand the market potential and opportunities in China related to kitchenware products.
In 2017, the leading kitchen utensil brand in France, Tefal, had a market share of over 30%.
The statistic indicates that in the year 2017, Tefal, a prominent kitchen utensil brand in France, held a dominant position in the market with a market share exceeding 30%. This figure reflects Tefal’s significant presence and popularity among consumers in the French market, showcasing its strong competitive advantage over other kitchen utensil brands during that period. The high market share suggests that Tefal likely enjoyed a larger customer base, brand recognition, and trust, indicating that the brand’s products were preferred or deemed superior by a considerable portion of consumers in France when compared to its competitors in the kitchen utensil industry.
The value of UK imports of miscellaneous articles of base metal, including kitchenware, was approximately 1.05 billion GBP in 2018.
The statistic states that in 2018, the United Kingdom imported miscellaneous articles made from base metals like kitchenware, amounting to approximately 1.05 billion GBP. This figure represents the value of goods brought into the UK from foreign countries for this specific category of products. The significant value implies a notable demand for such items within the UK market, potentially reflecting consumer preferences, industry needs, or economic factors. Analyzing import statistics like this can provide insights into trade patterns, consumption trends, and the overall economic health of a country.
In the U.S., more than 25% of the kitchenware market share was taken by glassware in 2016.
The statistic suggests that in 2016, glassware products accounted for over a quarter (more than 25%) of the total market share within the kitchenware industry in the United States. This indicates a significant presence and popularity of glassware products among consumers during that period. The high market share captured by glassware highlights its competitive edge over other types of kitchenware products, such as cookware or utensils, showcasing a strong consumer demand for glassware items, possibly due to factors like aesthetics, durability, or versatility in usage. This statistic emphasizes the importance of glassware as a key player in the kitchenware market in the U.S. in 2016.
The market size of the kitchen appliance industry, which complements kitchenware, in India was $2.5 billion in 2020.
This statistic indicates that the total revenue generated by the kitchen appliance industry in India, which includes products like refrigerators, microwaves, and blenders, was estimated to be worth $2.5 billion in the year 2020. This market size reflects the significant consumer demand for kitchen appliances in India, driven by factors such as rising disposable incomes, changing lifestyles, and increasing urbanization. The figure suggests that the kitchen appliance industry in India is a sizable market with potential for further growth and opportunities for businesses operating in this sector to innovate and expand their product offerings to cater to the needs of the Indian consumers.
Metal kitchenware accounted for 66% share of the global kitchenware equipment in 2019.
The statistic indicates that in 2019, metal kitchenware items constituted 66% of the total market share of kitchenware equipment worldwide. This suggests that metal kitchenware, such as pots, pans, utensils, and other items made from materials like stainless steel or aluminum, were the dominant type of kitchenware products being sold and used across the globe. The high market share of metal kitchenware indicates its popularity among consumers, likely due to factors such as durability, ease of cleaning, and versatility in cooking applications. This statistic provides valuable insight into the preferences of consumers and the importance of metal kitchenware in the global kitchenware market.
The internet retailing sector is anticipated to be the most dynamic in kitchenware, with 32% CAGR over the forecast period 2017-2022.
The statistic indicates that the internet retailing sector within the kitchenware industry is expected to experience significant growth over the forecast period of 2017-2022, with a Compound Annual Growth Rate (CAGR) of 32%. This suggests that online sales of kitchenware products are projected to expand rapidly, outpacing traditional brick-and-mortar retail channels. The high CAGR signifies a strong inclination of consumers towards purchasing kitchenware products online, driven by factors such as convenience, a wide variety of choices, and competitive pricing. As such, businesses operating in the kitchenware sector should pay close attention to the growing influence of e-commerce and adapt their strategies to capitalize on the thriving online retail market.
In 2020, almost 64% of sales revenue in the cookware market in China came from sales of stainless steel products.
The statistic indicates that in 2020, sales of stainless steel cookware products accounted for nearly 64% of the total sales revenue in the cookware market in China. This suggests that stainless steel cookware is a popular choice among consumers in China, potentially due to factors such as durability, heat conductivity, and aesthetic appeal. The dominance of stainless steel products in the market signifies a significant preference among Chinese consumers for this material over other types of cookware materials such as aluminum, cast iron, or non-stick coatings. This information could be valuable for cookware manufacturers looking to target the Chinese market or for retailers to adjust their product offerings accordingly to capitalize on this trend.
The cookware market, which constitutes a significant portion of the kitchenware industry, was worth close to $10 billion in the United States in 2020.
The statistic states that the cookware market, a substantial segment within the kitchenware industry, had a value of nearly $10 billion in the United States in 2020. This figure highlights the considerable economic impact and consumer demand for cookware products in the country. The market’s worth indicates a robust industry with a wide range of products such as pots, pans, and cooking utensils that cater to various cooking needs and preferences of consumers. The size of the cookware market suggests that it is a significant player in the overall kitchenware industry, reflecting the importance of cookware products in households and professional kitchens across the U.S.
By 2027, the global nonstick cookware market size is expected to reach USD 12.5 billion.
The statistic indicates that the global nonstick cookware market is predicted to grow substantially by the year 2027, reaching a market size of USD 12.5 billion. This projection suggests a significant increase in demand for nonstick cookware products around the world, reflecting potential shifts in consumer preferences towards convenient and practical cooking solutions. The anticipated growth in market size also implies opportunities for manufacturers, retailers, and other stakeholders within the nonstick cookware industry to capitalize on this upward trend by developing innovative products, expanding market reach, and maximizing profitability in the coming years.
References
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