Bakeware industry Share, Analysis, Growth, overview and forecast

Market Scenario

Bakeware Market Size was valued at USD 4.5 billion in
2022. The Bakeware market is projected to grow from USD 4.7 Billion in 2023 to
USD 6.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of
5.6% during the forecast period (2023 - 2030) The increasing demand for baked
products and the rapid growth of
commercial bakeries are
expected to promote the growth of bakeware market. The change in consumer preferences and the availability of a wide-range
of product in different
freshness, taste,
and flavors can improve the momentum of the
bakeware market. The inclination towards comfort food is also expected to earn considerable revenue
for the market. Other
causes that are expected to favor the bakeware market are growing number
of nuclear families, expansion
of organized retail sector across the emerging economies, and the introduction of non-stick bakeware among others. Ban on plastic use and growing trend of dining
out are some restrains on the
global bakeware market rise.

Market Segmentation

The segment assessment of the global bakeware
market is done by product type, distribution channels, and end-users.

The product type-based segments of the global bakeware market
are cups, tins
& trays, rolling pin, and
pans and dishes among others. The cup, tin, and tray segment is expected to earn considerable
revenue by 2027. The pan and dishes segment is expected to generate
considerable revenue for
the market. The baking tins and trays segment can hold its dominance in the near future as these are crucial utensil
used in baking because that
are responsible for holding the base for any baking product, baked in an oven. Hence, specificity materials are used in
the fabrication of baking tins and that are likely to tolerate fluctuating baking temperatures. However, highly-priced pans and dishes is expected to hinder the market rise in the
study period.

The end-user-based segments of the global bakeware market
are household and commercial. The commercial segment is likely to expand at the highest CAGR in the study period. The growing preference for bakery products and expansion of its
consumer base are other important causes that can prompt the bakeware market. The increasing preference for dine-in
experience by a large population
has resulted in the increasing
number of commercial cafes and bakeries. These
factors are expected to drive the expansion of commercial segment in the years to come.

The distribution channel-based segments of the global
bakeware market are Store-Based and non-store based. The store-based segment of the market is expected to make high profit. The rising
number of supermarkets and hypermarkets, and convenience stores that sale different types of bakeware and the
availability of online channels that are contributing to maximizing their sales are likely to prompt the market in the years ahead. Top-notch bakeware manufacturers
are emphasizing on promotional activities
to boost product
visibility and reach, which,
in turn, can result in the rise of the segment. The inclination towards store-based
channels as they offer a
one-stop shopping experience
can bolster the segment upsurge. The expansion of online business is likely to
aid the growth of non-store-based segments.

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Regional Analysis

In North America, the bakeware market is expected to thrive owing to the booming
bakery business and expansion of commercial bakeries. The In Europe, the presence of top-notch
bakeries can contribute to the market rise. MRFR study reveals that Asia Pacific
bakeware market is likely to surge at rapid pace to
garner high revenue by
2027. According to MRFR findings,
the bakery industry can be
worth above USD 471 billion and expand at about 6% CAGR in the next couple of years, which is expected to significantly impact the
bakeware market in APAC.  

Rest of the World

Key Players

Key industry players are adopting different strategies, such as; expansions, product launches, and partnerships to strengthen their market positions. The growing focus of market on expanding
operations across the world to
augment their strong
partner relationships and
production capabilities
are expected to support the market rise. Strategies adopted by top-notch companies are
their entrance in untapped markets to grow their customer base are assessed by MRFR.  Motiba
Silicone Private Limited (India), Indigo Metalware (India), Kaiser Bakeware
(Germany), Reynolds Consumer Products LLC (US), The Oneida Group Inc. (US),
Primma G.R.A. (Canada), Calphalon LLC (US), USA PAN (US), Wonderchef Home
Appliances Pvt. Ltd (India), Nordic Ware (US), and Others.are companies that are enlisted by MRFR.

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