Dublin, April 25, 2024 (GLOBE NEWSWIRE) -- The "UAE Cookware Market 2024-2030 Trends, Share, Value, Size, Outlook, Revenue, Growth, Analysis, Industry, Segmentation: Market Forecast By Product Types, By Applications, By Distribution Channels and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
UAE Cookware Market size is projected to grow at a CAGR of 3.7% during 2024-2030F. The growth of the cookware market in UAE is driven by replacement needs, especially since the market has entered the pre-maturity stage as cookware items naturally wear out over time, leading consumers to seek new products, thereby fuelling market growth. Additionally, the rise of 237 new hotels from 577 in 2022(Q1) to 814 in 2023(Q1) in Dubai to cater to increasing tourism across Dubai and the country has contributed to this growth.
United Arab Emirates (UAE) Cookware market currently, in 2023, has witnessed an HHI of 3523, Which has increased slightly as compared to the HHI of 2850 in 2017. The market is moving towards concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
Furthermore, ongoing real estate housing development projects in UAE such as Sobha Hartland II, Sobha One, Casa Damac Tower, Safa Two, Canal Crown, Damac Bay Cavalli, and others are expected to further boost the demand for cookware in the country in the upcoming years as new households would urge to new and modular cookware purchase.
United Arab Emirates (UAE) Export Potential Assessment For Cookware Market (USD Values in Thousand)
For United Arab Emirates (UAE) Exporters of Cookware, USA seems to be the most attractive market (in 2028) in terms of export potential followed by Egypt, United Kingdom (UK), Kuwait and Japan. However, in terms of total import demand across all countries, Thailand occupies the top position. Hence considering overall import demand, Thailand leads the importing demand but considering United Arab Emirates (UAE) as a partner, USA provides high unmet demand potential as Compared to others for 2028.
UAE Cookware Market Synopsis
The UAE cookware market experienced growth in the past few years owing to an average increase of 0.8% in population and a rise in urbanisation of 1.12% in 2021 compared to 2020, followed by a 1.09% increase in 2022 compared to 2021. Furthermore, the resurgence in the tourism sector rising from 7.28 million tourists in 2021 to 12.4 million tourists till Q3 of 2023 propelled the growth of the cookware industry, to cater food and beverage demands of increased tourists, the need for expansion of kitchens arises with more and modular cookware.
Additionally, the government's initiative of Dubai Social Agenda 33 with a budget of $56.63 billion is aiming to double the Emirati population by 2033. This substantial population growth is expected to drive the market in the forecast period due to the increasing demand for cookware for more and new family members.
Market Segmentation by Material Types
The stainless steel segment is likely to be the most popular among consumers in the forecast period owing to its lightweight and even heat distribution properties and lasting durability.
Market Segmentation by Applications
The residential sector garnered the maximum revenue share in 2023 in the Cookware Market in United Arab Emirates owing to the growing annual population and rising real estate housing projects. Moreover, rising urbanization is driving the demand for modular kitchen solutions and kitchen up-gradation that would foster the demand for trendy and latest cookware in the country.
Market Segmentation by Product Types
Pots are anticipated to register the highest growth in the forecast time frame and should be the focus area by the OEMs on the back of their versatile usage in the cooking of a variety of food items and high demand from residential and commercial sectors.
Market Segmentation by Distribution Channels
Offline channels have garnered the maximum revenue share on account of the ease of availability of stores in every locality, no waiting time for delivery of the product along quick hand-to-hand replacement influence people to prefer offline distribution channels over online ones.
Key Highlights of the Report
- UAE Cookware Market Overview
- UAE Cookware Market Outlook
- UAE Cookware Market Forecast
- Historical Data and Forecast of UAE Cookware Market Revenues, for the Period 2020-2030F
- Historical Data and Forecast of UAE Cookware Market Revenues, By Product Types, for the Period 2020-2030F
- Historical Data and Forecast of UAE Cookware Market Revenues, By Material Types, for the Period 2020-2030F
- Historical Data and Forecast of UAE Cookware Market Revenues, By Applications, for the Period 2020-2030F
- Historical Data and Forecast of UAE Cookware Market Revenues, By Distribution Channels, for the Period 2020-2030F
- Industry Life Cycle
- UAE Cookware Market - Porter's Five Forces
- Market Drivers and Restraints
- Market Trends
- Market Opportunity Assessment
- Company Revenue Ranking
- Market Competitive Benchmarking
Company Profiles
- Tefal S.A.S
- WMF
- Le Creuset
- Scanpan
- All-Clad Metalcrafters
- ZWILLING JA Henckels Deutschland GmbH
- Royalford
- TTK Prestige Limited
- Lifetime Cookware
- Korkmaz Cookware
Scope and Segmentation
By Product Types
- Pans - Fry pan, Saucepan, Skillet, Grill pan
- Pots - Stockpot, Saucepot, Dutch ovens
- Others (Pressure Cooker, Griddle, Wok)
By Material Types
- Stainless Steel
- Aluminium
- Others (Copper, Iron, etc.)
By Applications
- Residential
- Commercial
By Distribution Channels
- Online
- Offline
For more information about this report visit https://www.researchandmarkets.com/r/a5xmba
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