LONDON--(BUSINESS WIRE)--The global nonstick cookware market is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing awareness about healthy and convenient cooking practices. Globally, nonstick cookware is increasingly adopted by consumers due to its convenience and health benefits. The health benefit of nonstick cookware is that food can be cooked with little or no oil. Convenience factors of nonstick cookware include its ease of cleaning, scratch-resistant properties, and sleek designs of the cookware. Moreover, PTFE coating and ceramic coating enhance the scratch-resistant properties of nonstick cookware. Hence, nonstick cookware is more durable than other utensils. Manufacturers of nonstick cookware also offer innovative designs to make products compact and attractive to consumers. These benefits of nonstick cookware encourage people to prefer nonstick cookware to other types of utensils.
This market research report on the global nonstick cookware market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing online sales of nonstick cookware as one of the key emerging trends in the global nonstick cookware market:
Global nonstick cookware market: Increasing online sales of nonstick cookware
The availability and credibility of nonstick products in emerging economies was a big challenge for the global nonstick cookware industry. However, with the increasing penetration of the internet, the availability of nonstick cookware across channels has increased and customers are not facing any difficulty in accessing premium and global brands from any part of the world. Moreover, the online distribution channel aids consumers in making well-informed decisions. Since all products and brand information are available online, it prevents consumers from choosing faulty products. Vendors provide competitive pricing through the online distribution channel. Hence, the online distribution channel helps vendors compete with the unorganized sector in terms of price. Therefore, the growth of the online distribution channel in the global nonstick cookware will be a key trend in the market.
“The rising popularity of ceramic-coated nonstick cookware, the availability of eco-friendly nonstick cookware and the advent of smart pans are some of the other major factors that are contributing largely to the growth of the global nonstick cookware market,” says a senior analyst at Technavio.
Global nonstick cookware market: Segmentation analysis
This market research report segments the global nonstick cookware market by material (PTFE coating, ceramic coating, and hard anodized aluminum coating) and geographical regions (APAC, EMEA, and the Americas).
The PTFE coating segment led the market in 2018 with a market share of over 65%, followed by ceramic coating, and hard anodized aluminum coating respectively. However, during the forecast period, the ceramic coating segment is expected to register the highest incremental growth, followed by the hard-anodized aluminum coating segment.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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