A comprehensive overview of the Bakeware market is recently added by UnivDatos Market Insights to its humongous database. The Bakeware report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Bakeware market. Bakeware report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates Bakeware at the global and regional levels. The Bakeware Market is expected to grow at a CAGR of around 6% from 2021-2027.
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Market Overview
A rise in the number of restaurants, cafes, QSR, etc. are some of the key factors attributed to the growing market of bakeware, globally. Moreover, growing demand for junk foods, ready to eat food items due to time savings and convenience are also adding pace to the growth of the market. According to ‘the Pizza Power Report 2021’ the total number of pizza locations increased from 77,724 to 78,092, a nudge of 0.47% in 2020 in the United States. Also, the number of independent pizzerias rose from 41,573 to 41,879 in the same year, while the chains added a few stores too. The number increased from 36,151 to 36,213. Furthermore, India’s QSR market is expected to clock a compound annual growth rate of 23% between now to the fiscal year 2025, as revealed by Edelweiss Securities.
Moreover, a rising interest in cooking among end-users is also leading to the growing demand for bakeware market . As per a study, the global cooking average is just under 6.5 hours a week. In the survey, French respondents averaged 5.5 hours a week cooking in the kitchen. Moreover, less than a quarter (24%) of French people expressed "passion" for food, scoring lower than Americans (37%) and Brits (26%).
COVID-19 Impact
The demand for bakeware witnessed a sharp rise during COVID-19. The Social media trend of flaunting cooking during lockdown positively impacted the bakeware industry. As per a cookware manufacturing association, the total cookware sales rose more than 36% in the third quarter versus 2019, while bakeware saw a 19.4% boost.
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The Bakeware Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product Type, the market is primarily bifurcated into
• Cups
• Tins & Trays
• Pans & Dishes
• Rolling Pin
• Others
The tins and trays segment gathered a major market share of Bakeware in 2020 and grabbed XX% market share. The market of this segment is expected to witness robust growth owing to the growing trend of home cooking among consumers. Moreover, with the rising number of bakeries, the pizzeria is acting as a growth catalyst to the industry.
By Material Type, the market is primarily bifurcated into
• Glass Bakeware Sets
• Metal Bakeware Sets
The metal bakeware sets segment grabbed a major market in 2020. The market of this segment is promulgating owing to the extensive use in commercial bakeries. However, the demand for glass bakeware sets is uplifting majorly from households. Glass bakeware is heavier than aluminum or any other metal and is more expensive.
Bakeware Market Geographical Segmentation Includes:
· North America
· Europe
· Asia-Pacific
· Rest of the World
Based on the estimation, the Asia Pacific region grabbed a major market share in 2020. A rise in the café, hotels, and restaurants across in Asia pacific region coupled with the growing demand for processed and packaged food owing to the rising number of working couples and adoption of western culture is leading to the growing demand for bakeware products.
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The major players targeting the market includes
• Indigo Metalware
• Motiba Silicone Private Limited
• Kaiser Bakeware
• Reynolds Consumer Products LLC
• The Oneida Group Inc.
• Primma G.R.A.
• Calphalon, LLC
• USA PAN
• Wonderchef Home Appliances Pvt. Ltd
• Nordic Ware
The degree of competition among prominent regional companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Bakeware market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the Bakeware Market?
· Which factors are influencing the Bakeware Market over the forecast period?
· What are the global challenges, threats, and risks in the Bakeware Market?
· Which factors are propelling and restraining the Bakeware Market?
· What are the demanding global regions of the Bakeware Market?
· What will be the global market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by global companies?
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UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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Market ForecastThe global Bakeware Market size is expected to cross USD 11 Billion by 2027 at a CAGR of 4.5% during the forecast period of 2020 to 2027.
There are several regional and international players operating in the business of offering bakeware, making it a highly competitive market.
Additionally, government restrictions regarding the use of plastic in various countries and increasing consumer shift towards environment-friendly products reduce the scope of entry for new players.
Existing market players are focusing on reducing production costs to compete in the cut-throat market and are engaging in strategic expansions to strengthen their businesses worldwide and survive in the Bakeware MarketKey Players of Bakeware MarketMoriba Silicone Private Limited (India)Indigo Metalware (India)Kaiser Bakeware (Germany)Reynolds Consumer Products LLC (US)The Oneida Group Inc. (US)Primma G.R.A.
(Canada)Calphalon, LLC (US)USA PAN (US)Wonderchef Home Appliances Pvt.
Ltd (India)Nordic Ware (US)Growth Opportunities in the Bakeware MarketRising consumption of cupcakes to render growth opportunities to the cups segment: The growth of the segment can be attributed to the increasing consumption of cupcakes across the globe.
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