Bakeware Market Size, Share & Trends Analysis Report By Product (Molds, Pans & Dishes), By Material (Aluminum, Carbon Steel), By End-user (Commercial, Household), By Region (Europe, Asia Pacific), And Segment Forecasts, 2023 - 2030

Bakeware Market Size, Share & Trends Analysis Report By Product (Molds, Pans & Dishes), By Material (Aluminum, Carbon Steel), By End-user (Commercial, Household), By Region (Europe, Asia Pacific), And Segment Forecasts, 2023 - 2030

Bakeware Market Growth & Trends

The global bakeware market size is expected to reach USD 5.89 billion by 2030, registering a CAGR of 5.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The evolving culinary trends and the popularity of baking as a hobby are driving market growth and creating lucrative opportunities for industry players. The market growth is strongly influenced by the evolving trends in home baking as baking is recognized for its therapeutic benefits, offering stress relief and emotional well-being. Studies conducted by Dr. Oetker and research published in the Journal of Positive Psychology highlight its positive impact on mental health. A rise in the number of home bakers owing to a shift toward baking for psychological and emotional benefits is likely to drive the market growth.

The household segment is projected to witness the fastest CAGR during the forecast period due to the increasing trend of home baking and cooking. With more people spending time at home, there is a growing interest in experimenting with recipes and trying out baking as a hobby. In addition, the convenience of online shopping has made it easier for consumers to access a wide variety of bakeware products, catering to different preferences and needs. Furthermore, innovations in bakeware solutions are shaping the market landscape, especially regarding environmental concerns. Guardini's collaboration with partners ArcelorMittal, CCC, and ILAG resulted in the introduction of XBake, an eco-friendly bakeware range made from ArcelorMittal's XCarb green steel and featuring a PFAS-free non-stick coating.

This sustainable approach to bakeware manufacturing aligns with the global movement toward eco-friendly practices and is expected to drive market growth, catering to environmentally conscious consumers. In addition, the diverse range of bread varieties, pastries, and cookies, including traditional specialties in every region, necessitates a wide variety of bakeware products. The demand for specialized bakeware, tailored to the unique requirements of each delicacy, fuels the market growth further, as traditional bakers and new establishments invest in high-quality products to meet the growing demand for various bakery items. The market is experiencing a notable shift towards sustainability, evident at industry events, such as Ambiente in Germany, ABUP in Brazil, and the Canton Fair in China.

Companies are actively introducing eco-friendly solutions, such as recycled aluminum cookware and coatings made from natural elements like water. Tasty, a global food network, capitalized on this trend by launching a sustainably sourced cookware range in Kaufland stores, catering to millennials' preferences for stylish, practical, and affordable kitchen products. The positive response indicates a growing market potential, emphasizing the significance of eco-friendly and stylish product options, particularly among younger consumers. The market is moderately fragmented featuring established players, such as Wilton Brands LLC and Newell Brands Inc. These companies focus on innovation to cater to the demand for specialized bakeware and pans & dishes for large-scale production in commercial bakeries.

Bakeware Market Report Highlights

• In 2022, the tins & trays segment contributed to significant demand in the global market. The variety in bakery products is driving the demand for various sizes and shapes of tins & trays, particularly smaller tins for baking artisanal bread loaves
• The demand for carbon steel is projected to grow at a significant rate from 2023 to 2030.The demand is driven by the material’s excellent heat conductivity and durability, which ensure even baking results and long-lasting performance
• Moreover, carbon steel bakeware is lightweight, easy to handle, and can withstand high temperatures, making it ideal for various baking applications
• Asia Pacific is projected to witness the fastest CAGR during the forecast period due to rapid urbanization and rising disposable income in countries like China and India empowering consumers to invest in kitchen products, including bakeware
• In addition, the influence of Western culinary practices, coupled with the popularity of baking as a hobby, supports the product demand in the regional market

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