Global Nonstick Cookware Market 2019-2023
About this market
With the increased penetration of the internet, the availability of nonstick cookware across channels has increased. Although the availability of nonstick products was a big challenge in emerging countries earlier, customers today do not face difficulties in accessing global brands from any part of the world. Combine this with the growing online distribution channels, customers can easily access brand and product information and make well-informed decisions. Therefore, the growth of the online distribution channel will be a key trend in the global nonstick cookware market. Technavio ‘s analysts predict this market to grow at a CAGR of over 4 % by 2023.
Increasing awareness about healthy and convenient cooking practices
The nonstick cookware coating products are gaining popularity across the world owing to their sleek and compact designs that attract customers. These products are scratch resistant and can be cleaned easily. Nonstick cookware is increasingly adopted by consumers owing to its convenience and health benefits. The health benefits of nonstick cookware are because it cooks food with little or no oil, while not compromising the taste of food. This is expected to contribute significantly to the growth of the market.
Volatility of prices of raw materials
Aluminum metal is the key raw material used in the manufacturing process of nonstick cookware. The price of aluminum has a significant impact on the manufacturing costs and profit margins for vendors. Since aluminum prices are vulnerable to external factors, it is expected to be a key challenge for manufacturers in the nonstick cookware market.
For the detailed list of factors that will drive and challenge the growth of the nonstick cookware market during 2019-2023, view our report.
The nonstick cookware market appears to be fragmented with a presence of considerable number of companies and the competition is intense with all companies focusing on improving the position in the market. Factors such as the increasing awareness about healthy and convenient cooking practices and the growing online sales of nonstick cookware. Some of the top companies in the market are Autoliv, JTEKT, Nexteer Automotive, and ZF Friedrichshafen.
‘With the presence of a considerable number of companies, this market appears to be fragmented. This market research report will help clients identify new growth opportunities. Companies in the global nonstick cookware market are focusing on the online distribution channels for selling their nonstick cookware products, as it is one of the key trends in the market.’
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