Bakeware Market Size US$ 5.1 billion by 2031 at 4.7% CAGR - Report by Transparency Market Research

Wilmington, Delaware, United States, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global market for bakeware was estimated to be worth a market valuation of around US$ 3.4 billion in 2022. The market is anticipated to advance with a steady 4.7% CAGR from 2022 to 2031 and by 2031, the market is likely to gain US$ 5.1 billion.

Bakery items (particularly bread) have been a staple meal for people all over the world for generations. These goods have persisted in the current market due to a number of important features, including convenience, accessibility, and nutritional value. Bakery goods are a staple of both rich and developing nations' everyday diets. These elements are anticipated to fuel market growth throughout the projected period.

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Market Snapshot:

Key Findings of the Market Report

• Global demand for bakery products is rising as people's preferences for convenience foods and lifestyles change.

• The business has transitioned from brick-and-mortar storefronts to online retailers, offering a variety of goods such as baking sheets and baking pans in order to draw in more customers.

• The global bakery business is mostly driven by the rise of nuclear households, particularly in emerging nations.
  

Market Trends for Bakeware

• The global bakery products business is mostly driven by the rise of nuclear households, particularly in emerging nations. Nuclear families are more likely to buy a distinct set of dishes for a particular couple in the family as opposed to joint families, which share a single set of dishes across several couples. Additionally, there has been a worldwide increase in the opening of cafés and restaurants, which pushes the bakeware industry.

• The economy of emerging nations like India, Brazil, and China are growing significantly. The median disposable income of families in emerging nations has greatly grown, and it is anticipated that this will lead to a rise in the demand for baked products in these nations soon. Design and material advancements for bakeware also contribute to an increase in global demand for bakeware.

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Bakeware Regional Market Outlook

Various reasons are propelling the growth of the bakeware market in different regions. They are:

• In the near future, the Asia Pacific region's market for bakeware is anticipated to rise rapidly. There is expected to be a large demand for cookware items due to the ongoing growth of commercial kitchens and the rise in disposable income during the projected period in the region.

• The market in North America is anticipated to expand quickly throughout the projection period. Customers in the area are probably going to spend money on expensive cookware that matches their kitchen design. The need for baking accessories is rising as the residential sector expands as a result of an increase in families.

Global Bakeware Market: Key Players

According to the bakeware market research study, there are many small and medium-sized producers as well as regional players, which has resulted in a highly fragmented industry.

In this market, well-known players include August Thomsen Corp. (Ateco), Calphalon LLC, Clipper Corp. (Viking), Cuisinart, Greenpan Ltd., Groupe SEB, Lodge Manufacturing Company, Meyer Corporation, Nordic Ware, and ZWILLING J.A. Henckels UK Ltd (Staub). Some developments by the key players in the global market for bakeware are:

• KAISER, a brand owned by WMF GmbH, debuted a new line of silicone baking pans in 2020. The new CrispFlex collection's non-stick coating makes it simpler to remove cakes as well as muffins from the pan and guarantees consistently crispy baking results. The pans may be folded up to conserve space. To draw in more customers, the corporation is introducing items with a variety of uses. The product's composition raised the brand's perceived worth in the marketplace.

• A new line of items from Calphalon, a pioneer in high-end cookware, cutlery, bakeware, and small kitchen appliances, were introduced in 2019 with the goal of enhancing culinary outcomes. With accuracy and satisfaction, home chefs may now make extraordinary meals thanks to the new high-performance goods. The new line has the kind of sturdy design and expert craftsmanship that customers have come to expect.

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Global Bakeware Market Segmentation

• Product Type
  • Cups
  • Molds
  • Tins & Trays
  • Pans & Dishes
  • Rolling Pins
  • Others
• Material
  • Cast Iron
  • Aluminum
  • Cast Aluminum
  • Others (Carbon Steel, Copper, etc.)
• Application
  • Commercial
  • Residential
• Distribution Channel
  • Online
  • Offline
    • Supermarkets / Hypermarkets
    • Specialty Stores
    • Others (Departmental Stores, Small Retail Formats, etc.)
• Region
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America
    

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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