The Asia Pacific Bakeware Market would witness market growth of 6.5% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 25,830.2 thousand Units, showcasing a growth of 6.0% (2019-2022).
The market is dynamic and thriving, with various factors contributing to its growth and many applications in the modern kitchen. As consumers seek convenience, health-conscious options, and opportunities for personalization, the bakeware industry has evolved to meet these demands. Additionally, technological advancements and e-commerce have played pivotal roles in expanding the market's reach. From traditional baking to a wide array of culinary endeavors, bakeware products continue to play a vital role in the world of cooking and baking, catering to professional chefs and home cooks alike.
As living spaces become smaller, there is a trend towards space-saving bakeware products. Collapsible bakeware, stackable cookware sets, and compact designs are favored for their efficient use of space. Nostalgia is making a comeback, and vintage-inspired bakeware designs are gaining popularity. This trend includes bakeware with retro colors, patterns, and shapes from earlier decades. Bakeware that supports dietary preferences and restrictions, such as keto or paleo diets, is rising. Specialized bakeware for these purposes, like fat-reduction trays or portion-control molds, is becoming more common.
According to Invest India, the gross merchandise value of the e-commerce sector exceeded $55 billion by 2021. It is expected to have a yearly gross sales value of $350 billion by 2030. By 2023, India is projected to have more than 907 million internet consumers, representing approximately 64 percent of the country's total population. Online marketplaces often provide detailed product information, customer reviews, and ratings. This information helps consumers make informed choices when selecting bakeware and ensures they receive high-quality products. The aforementioned factors will drive the market growth in this region.
The China market dominated the Asia Pacific Bakeware Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $424.4 million by 2030. The Japan market is registering a CAGR of 5.8% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 7.1% during (2023 - 2030).
Based on End-user, the market is segmented into Commercial, and Household. Based on Product, the market is segmented into Pans & Dishes, Tins & Trays, Molds, Cups, Rolling Pin, and Others. Based on Material, the market is segmented into Aluminum, Glass, Stoneware, Stainless steel, Carbon Steel, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Bakeware Market is Predict to reach $5.6 Billion by 2030, at a CAGR of 5.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Groupe SEB, Newell Brands, Inc., Le Creuset France SAS, Meyer Corporation, U.S. (Meyer Manufacturing Co. Ltd.), Wilton Brands LLC (Dr. August Oetker KG), Fackelmann GmbH + Co. KG, Northland Aluminum Products, Inc. (Nordic Ware), USA Pan, International Cookware Limited (Kartesia) and Emile Henry.
By End-user (Volume, Thousand Units, USD Billion/Million, 2019-2030)
By Product (Volume, Thousand Units, USD Billion/Million, 2019-2030)
By Material (Volume, Thousand Units, USD Billion/Million, 2019-2030)
By Country (Volume, Thousand Units, USD Billion/Million, 2019-2030)
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