Kitchenware and Houseware Market Size, Share, Growth, and Industry Growth by Type (Kitchen Knives, Cutlery, Food Storage, Other Kitchen Utensils, Cookware, Tabletop, Small Electric Kitchen Appliances) By Application (Residential Kitchen and Commercial Kitchen), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Kitchenware and Houseware Market REPORT OVERVIEW

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The global kitchenware and houseware market size are expected to be USD 29330 million in 2022 and market is projected to touch USD 41432.73 million by 2031, exhibiting a compound annual growth rate (CAGR) of 3.9% during the forecast period.

The tools, utensils, appliances, dishes, and cookware made of different metals, alloys, and non-metals that are used for food preparation or serving are referred to as kitchenware and housewares. The holding or storing of food before or after preparation can also be done with kitchenware.

Worldwide use of kitchenware and houseware is significantly increasing as a result of rapid urbanization in both developing and developed nations, which is being fueled by rising disposable income.

COVID-19 Impact: Halt in Manufacturing Activities Led to Decline of the Market.

The market expansion for kitchenware and housewares has been significantly impacted by the COVID-19 pandemic epidemic. Due to the disrupted distribution system, which also negatively impacted export and import activity, sales of household goods have decreased significantly. Additionally, the pandemic has had a particularly negative influence on industrial activities, which has hampered the expansion of the home goods sector.

LATEST TRENDS

"New Innovative Kitchenware and Houseware to Boom the Market"

To produce better-quality and visually pleasing kitchenware and houseware, cutting-edge procedures are being used more often. Products like the Hestan Cue system, for instance, combine a pan and a burner with sensors that transmit data to the app of any smartphone through Bluetooth. On the heels of a large increase in the penetration of street food in many emerging and established countries, cookware is anticipated to emerge as one of the fastest expanding market segments. The demand for housewares is being greatly supported by the expanding popularity of western cuisines as well as the expansion of café, bars, and restaurants.

Kitchenware and Houseware Market Segmentation

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• By Type Analysis

By type, market is segmented into kitchen knives, cutlery, food storage, other kitchen utensils, cookware, tabletop, small electric kitchen appliances. The kitchen knives segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into residential kitchen and commercial kitchen. The residential kitchen segment will lead the global share through 2031.

DRIVING FACTORS

"Rapid Urbanization and Rising Food Consumption Will Drive the Market’s Growth"

By serving the growing urban population that is concentrated in cities, the worldwide market for kitchenware and home goods has carved out a niche for itself. This has been made possible by changes in consumer behaviour brought on by rising disposable incomes and rising consumer tastes for luxury and semi-luxury goods, which have raised the market demand for these goods. Their decision to purchase higher-quality goods, which may use crystals, ceramics, and other materials, shows this trend. Additionally, rising food consumption and the planet's fast-expanding population are two key variables that are projected to drive market expansion for kitchenware and houseware internationally. Additional factors that are projected to aid in the target market's revenue growth include an increase in kitchen modernization desire and an increase in disposable income.

"Expanding Tourism Industry and Rapid Digitization to Propel the Market"

The tourism industry is expanding in places like Asia Pacific, Latin America, the Middle East, and Africa, and this is helping related industries, like the hospitality sector, to grow. This expansion is greatly increasing the need for kitchenware and houseware, which is further likely to fuel the growth of the market. The demand for these items is also being fueled by the high quality of living and apparent human development index in developed nations, which is assisting the market's expansion.

Furthermore, globally rapid digitization is having a significant impact on consumer power. Market participants have increased chance to communicate with customers thanks to mobile solutions and internet access. The market for kitchenware and houseware equipment has grown dramatically due largely to online platforms and e-commerce. Significant chances to create more sophisticated items, such as networked products, are also presented by digitization.

RESTRAINING FACTORS

"Market’s Competition will Hamper the Market"

The proliferation of products that have been copied is further aided by the increase in the number of unorganized suppliers and producers of kitchenware and home goods in numerous nations worldwide. This circulation may impede the expansion prospects of top companies in the global kitchenware and housewares market. The key barrier preventing market expansion is the increasing demand from consumers for maintenance and repair services for various types of household appliances. The rising cost of smart kitchen appliances may also deter people with limited resources from wanting them. Strong competition from local industry rivals is impeding the business progress of well-known companies. The market's growth can be slowed by several factors.

Kitchenware and Houseware Market REGIONAL INSIGHTS

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"North America to Lead the Global Kitchenware and Houseware Market Share"

During the anticipated term, North America will be a significant region for the kitchenware and housewares markets. As they are so easily accessible and have advanced in technology, smart appliances are quickly becoming more and more popular in the region. Market expansion is being aided by technology, which is facilitating Internet accessibility and making it easy to conduct business from remote locations. Customers are being forced to prefer homemade cuisine due to a rise in health consciousness and the availability of a variety of cooking recipes online or through social media. These factors have increased the demand for cooking tools that are practical and save time.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by collaborating with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• SEB (Sweden)
• Panasonic (Japan)
• Newell Brands (U.S.)
• Arc International (France)
• Phillips (Netherlands)
• Libbey (U.S.)
• Zwilling (Germany)
• De' Longhi (Italy)
• Corelle Brands (U.S.)
• BSH (Germany)
• ASD (Russell)
• Fissler (Germany)
• Bormioli Rocco (Italy)
• Whirlpool (U.S.)
• Breville (Australia)
• Midea (China)
• Joseph Joseph (UK.)
• Le Creuset (France)
• Wusthof Dreizack (Germany)
• John Boos (U.S.)
• Kai Corporation (Japan)
• Arcos Hermanos S.A. (Spain)
• Kyocera (Japan)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.