Transparency Market Research (TMR) anticipates that the nonstick cookware market features competitive vendor landscape owing to a large number of key players operating in the market. Additionally, rising efforts to tap the present growth opportunities in the market is likely to increase competition among players in coming years. Along with product innovations and increasing durability of products, the market players are focusing on the trying the strategies such as merger and acquisitions for putting strong foot hold in the global nonstick cookware market. Berndes, Le Creuset, Scanpan, Circulon, Moneta Cookware, Calphalon (Newell Brands LLC), Gibson Brands, Inc., Anolon, Farberware Licensing Company, LLC, Cuisinart, T-fal, and All-Clad, NeoFlam are some of the key players in the global nonstick cookware market.
According to TMR, the nonstick cookware market in India is likely to expand by exhibiting a striking CAGR of 4.1% during the forecast period from 2017 to 2025. At this rate, the market is estimated to reach at a valuation of US$24,696.0 mn in 2025-end from a value of US$17,363.2 mn in 2016.
On the geographical standpoint, the Europe is estimated to hold leading position in the global nonstick cookware market as it held leading position in the year 2016. This is attributable to the growing demand for safe and innovative cookware in the region. However, Asia Pacific is estimated to be the region expanding at a robust CAGR in coming years.
Changing desire of lifestyle propels adoption of non-stick cookware
Swift urbanization globally and especially in the emerging economies is likely to pave way for growth of the market in coming years. The nonstick cookware is witnessing high demand as the change in lifestyle choices coupled with surge in capacity of consumers spending on newer consumer goods.
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Nonstick cookware is no new in the market; however, the safety quotient is yet debatable. The coatings used on the cookware such as Fluoropolymers are responsible for major concerns in the market. Rising awareness regarding the use of material and its related concerns same posture danger to the market’s future. In addition, an enormous segment of buyers are slanting toward progressively indigenous yet more advantageous options, for example, aluminum, treated steel, and glass product, which may frustrate the market’s direction to a degree.
Advent of effective non-stick cookware drives market growth
Non-stick is the surface which is covered with a manufactured polymer called Polytetrafluoroethylene (PTFE) or with earthenware, anodized aluminum, enameled iron which diminishes the capacity of different materials to stick to it. The term Teflon covering has turned out to be synonymous with Non-stick covering in the market. Subsequently, the cookware is for the most part tended to as teflon covered cookware. Non-stick cookware incorporates sear container, sauce dish, and stock pots. Non-stick cookware permits the sautéing of nourishments without giving the sustenance a chance to stick to the skillet.
While the family unit segment remains a main client of nonstick cookware, the market is seeing a steady ascent sought after in the business portion. Development experienced by the market is in this way basically affected by the rising interest for quick and increasingly advantageous techniques for cooking. Other than this, the rising spotlight on security and the extending demography of novel client base will betoken well for the market in the coming years. As the interest for nonstick cookware rises, the market players are hoping to charm clients by offering progressively creative structures and guarantee of improved quality. Moreover, TMR anticipates a spike in the interest for Teflon and clay covered nonstick cookware in the coming years, which is relied upon to empower the market gain force.
This information is encompassed in the report by TMR, titled, “Nonstick Cookware Market (Material – Teflon coated, Anodized Aluminum coated, Ceramic Coating, and Enameled Iron Coated; Distribution Channel – Online and Offline) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”