According to a new report, published by KBV research, The Global Induction Cookware Market size is expected to reach $4 billion by 2030, rising at a market growth of 7.1% CAGR during the forecast period. In the year 2022, the market attained a volume of 32,434.9 thousand units, experiencing a growth of 7.0% (2019-2022).
The Residential segment is leading the Global Induction Cookware Market by Application in 2022; thereby, achieving a market value of $2.7 billion by 2030. The induction cookware market offers diverse options, including pots, pans, griddles, and specialized appliances designed for residential use. The availability of versatile cookware sets allows homeowners to choose induction-compatible tools that suit their specific cooking needs and preferences. The popularity of cooking shows and the influence of culinary trends contribute to adopting induction cookware in residential kitchens. Inspired by professional chefs and culinary enthusiasts, home cooks are drawn to the precise temperature control and versatility of induction technology.
The Pots segment would register a CAGR of 7.5% during (2023 - 2030). Induction pots are versatile tools suitable for a wide range of cooking styles. From boiling and steaming to slow cooking and preparing stews, these pots accommodate various culinary techniques. The precise temperature control ensures optimal results across different cooking applications. Pots within the induction cookware often come in various sizes, including larger capacities suitable for cooking large batches of soups, stocks, or one-pot meals. This versatility makes them ideal for both home cooking and professional kitchens.
The Stainless-Steel segment dominated Induction Cookware Market by Material in 2022; thereby, achieving a market value of $1.8 billion by 2030. Stainless steel induction cookware is favored for its professional and modern aesthetics. Its sleek and shiny appearance complements contemporary kitchen designs, contributing to the overall visual appeal of the kitchen. This aesthetic feature attracts consumers who prioritize a sophisticated and cohesive kitchen environment. Stainless steel induction cookware is resistant to wear and tear, making it suitable for heavy-duty use in residential and commercial kitchens.
The Online segment would showcase a CAGR of 8% during (2023 - 2030). Online retailers offer a vast and diverse range of induction cookware products from various brands and manufacturers. Consumers can explore various pots, pans, and other cookware, including different materials, sizes, and designs. This variety enhances the online shopping experience, allowing users to find products that best suit their preferences.
Full Report: https://www.kbvresearch.com/induction-cookware-market/
The Europe region is anticipating the Global Induction Cookware Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.4 billion by 2030. The North America region is experiencing a CAGR of 6.7% during (2023 - 2030). Additionally, The Asia Pacific region would exhibit a CAGR of 7.3% during (2023 - 2030).
By Application (Volume, Thousand Units, USD Billion, 2019-2030)
By Product (Volume, Thousand Units, USD Billion, 2019-2030)
By Material (Volume, Thousand Units, USD Billion, 2019-2030)
By Distribution Channel (Volume, Thousand Units, USD Billion, 2019-2030)
By Geography (Volume, Thousand Units, USD Billion, 2019-2030)
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