Dublin, Nov. 04, 2024 (GLOBE NEWSWIRE) -- The "Bakeware Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
The Global Bakeware Market was valued at USD 3.84 billion in 2023, and is expected to reach USD 5.41 billion by 2029, rising at a CAGR of 5.90%.
Europe has emerged as the leading contributor to global bakeware sales, with the surge in home baking being a primary driver. Initially spurred by COVID-19 lockdowns, this trend has been sustained by evolving consumer preferences. According to the International Housewares Association, there was a significant uptick in baking activities during the pandemic, leading to the entry of new companies into the market, particularly in European countries like Germany, the UK, and France. Prolonged periods spent at home due to lockdowns, coupled with the post-COVID-19 era, have resulted in a noticeable uptick in home baking. This surge is fueled by individuals' exploration of various recipes and techniques, consequently driving up demand for bakeware products.
The global market is being propelled by rising levels of disposable income in emerging economies, increasing consumer enthusiasm for baking and home cooking, and a heightened demand for a diverse range of bakery products, prompting innovation in bakeware. Additionally, advancements in technology and materials are bolstering the industry by producing durable, non-stick, and easily cleaned bakeware items, thus amplifying customer demand. Product advancements, evolving consumer preferences, and a surge in home baking interest are key drivers fueling the market's substantial growth worldwide.
Factors such as the growing popularity of baking as a hobby, the influence of social media and culinary programs, and the necessity for high-quality, enduring, and visually appealing bakeware products contribute to this expansion. The emergence of eco-friendly and sustainable bakeware alternatives, featuring personalized designs and recycled materials, presents significant opportunities for innovation. The market's growth is further spurred by the incorporation of cutting-edge technologies like temperature-sensing smart bakeware. However, fluctuating raw material costs, particularly steel and aluminum utilized extensively in bakeware manufacturing, impact overall production expenses.
To meet diverse baking requirements, market innovation extends to raw materials. For instance, Lurch AG, a German kitchenware manufacturer, incorporates Vectra liquid-crystalline polymer (LCP) in their bakeware production. This material offers exceptional heat resistance, rigidity, toughness, and adherence to food safety regulations, enabling versatile usage from freezer to oven and facilitating efficient baking processes through rapid heat transfer and cooling. Additionally, advanced coatings and alloys, such as epoxy-free coating systems employed by FBS Balke International GmbH & Co. KG, enhance bakeware durability, non-stick properties, and hygiene standards, reflecting growing demand for such materials in the market.
Key Market Drivers:
- Innovation in Materials and Technology
- E-Commerce Boom
- Health and Environmental Consciousness
- Cultural Influences and Globalization
Key Market Challenges:
- Sustainability and Environmental Impact
- Intense Market Competition
- Economic Factors and Pricing Pressures
- Rapidly Changing Consumer Preferences
- Technological Advancements and Product Innovation
Key Market Trends:
- Sustainability and Eco-Friendly Practices
- Smart Bakeware and IoT Integration
- Versatile and Multi-Functional Designs
- Artisanal and Aesthetic Appeal
Key market players profiled in this bakeware market report include:
- SEB SA Company
- Wilton Brands LLC
- Newell Brands Inc.
- FACKELMANN GmbH Co. KG.
- Northland Aluminum Products, Inc. (Nordic Ware)
- CanCooker, Inc.
- Houseware Brands Limited
- Harold Import Co. Ltd.
- Princess House, Inc.
- Meyer Corporation
Report Scope
In this report, the global Bakeware Market has been segmented into the following categories:
By Type:
- Pans and Dishes
- Tins and Trays
- Cups
- Rolling Pins
- Others
By Material:
- Stainless Steel
- Aluminum
- Stoneware
- Carbon Steel
- Glass
- Others
By End User:
- Commercial
- Household
By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Turkey
- Egypt
Key Attributes
| Report Attribute | Details |
| No. of Pages | 187 |
| Forecast Period | 2023-2029 |
| Estimated Market Value (USD) in 2023 | $3.84 Billion |
| Forecasted Market Value (USD) by 2029 | $5.41 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/spxays
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