Global Induction Cookware Market Size, Share & Trends Analysis Report By Application, By Product (Pans, Pots, and Others), By Material (Stainless Steel, Cast Iron, Carbon Steel, and Others), By Distribution Channel, By Regional Outlook and Forecast, 2023

Global Induction Cookware Market Size, Share & Trends Analysis Report By Application, By Product (Pans, Pots, and Others), By Material (Stainless Steel, Cast Iron, Carbon Steel, and Others), By Distribution Channel, By Regional Outlook and Forecast, 2023 - 2030

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).

As environmental consciousness grows, consumers in Europe are increasingly drawn to induction cookware for its energy-efficient characteristics. Thus, the Europe region acquired 35.8% revenue share in the market 2022. With higher disposable income, European consumers are more likely to upgrade their kitchen appliances. Consumers with higher disposable incomes value time and convenience, making induction cookware an attractive option.

Personalization in design is a significant factor driving the market. Consumers have varied tastes in kitchen aesthetics, and the ability to choose designs, patterns, and colors in this allows them to match their kitchen decor. This customization contributes to a cohesive and personalized kitchen environment.

Additionally, Higher disposable income enables consumers to consider appliance bundling or kitchen packages that include it alongside other modern kitchen appliances. Manufacturers can collaborate with retailers to create bundled offerings, making it convenient for consumers to acquire a complete set of appliances. Hence, higher level of disposable income has been a pivotal factor in driving the growth of the induction cookware market.

However, the primary concern for consumers is the affordability of it. Compared to traditional cooking appliances, the initial cost of purchasing induction-compatible cookware and cooktops is often higher. This can be a barrier for individuals and households with budget constraints. Thus, high initial cost can slow down the growth of the market.

By Application Analysis

On the basis of application, the market is divided into residential and commercial. The commercial segment garnered 28.8% revenue share in the market in 2022. Induction cookware generates less ambient heat in the kitchen than traditional cooking methods.

By Product Analysis

By product, the market is categorized into pans, pots, and others. In 2022, the pans segment held 51.8%revenue share in the market. In terms of volume the pan segment registered 17,915.5 thousand units in 2022. Induction pans are specifically designed with materials that are compatible with induction cooktops.

By Material Analysis

Based on material, the market is classified into stainless steel, cast iron, carbon steel, and others. The cast iron segment acquired 27.5% revenue share in the market in 2022. Cast iron is renowned for its exceptional heat retention and even heat distribution. When used in induction.

By Distribution Channel Analysis

By distribution channel, the market is segmented into supermarkets/ hypermarkets, specialty stores, online, and others. In 2022, the supermarkets/ hypermarkets segment registered 40.2% revenue share in the market. Supermarkets/hypermarkets offer various its products, including pots, pans, sets, and specialized appliances.

By Regional Analysis

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region acquired 29.2% revenue share in the market. The Asia Pacific region has experienced rapid urbanization, leading to smaller living spaces and an increased demand for space-efficient and modern kitchen solutions.

Recent Strategies Deployed in the Market

• Feb-2024: TTK Prestige Limited introduced the "Ceraglide Ceramic Cookware range". The cookware collection comprises a diverse range of items, including the Saucepan with a glass lid, Fry Pan, Wok, Omni Tawa, Casserole with a glass lid, and Deep Kadai with a glass lid.
• Feb-2024: Whirlpool Corporation came into partnership with BORA, an appliance manufacturing company. Through this partnership, Whirlpool Corporation would elevate its JennAir and KitchenAid appliances by introducing innovative induction downdraft technology.
• Sep-2022: Groupe SEB introduced "Recycle with Tefal Cookware". The product provides a sustainable and eco-friendly option for consumers, ensuring both cooking excellence and durability while promoting environmental responsibility.
• May-2021: Meyer Corporation, U.S. introduced "Anolon®X cookware". This product is designed to enhance the flavor profile of every culinary creation.
• Jul-2020: Groupe SEB took over StoreBound, an appliance, electrical, and electronics manufacturing company. Through this acquisition, Groupe SEB would enhance its products and market portfolio.

List of Key Companies Profiled

• Groupe SEB
• Meyer Corporation, U.S. (Meyer Manufacturing Co. Ltd.)
• Le Creuset France SAS
• Newell Brands, Inc.
• Whirlpool Corporation
• Robert Bosch GmbH
• TTK Prestige Limited
• Wilh. Werhahn KG
• Fissler GmbH
• Tramontina

Global Induction Cookware Market Report Segmentation

By Application (Volume, Thousand Units, USD Billion, 2019-2030)

• Residential
• Commercial

By Product (Volume, Thousand Units, USD Billion, 2019-2030)

• Pans
• Pots
• Others

By Material (Volume, Thousand Units, USD Billion, 2019-2030)

• Stainless Steel
• Cast Iron
• Carbon Steel
• Others

By Distribution Channel (Volume, Thousand Units, USD Billion, 2019-2030)

• Supermarkets/Hypermarkets
• Specialty Stores
• Online
• Others

By Geography (Volume, Thousand Units, USD Billion, 2019-2030)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA