Market Trends of Kitchenware Industry
Asia Pacific Dominates the Market
Revenue of the kitchenware segment in the Asia Pacific was existing at a value of more than USD 3.2 Billion last year and is expected to observe a continuous increase in growth over the coming period.
Asia Pacific is emerging as a major market for the demand for kitchenware owing to its rising food industry. Rising food consumption, increasing population, and expansion of well-known food retail shops in the region are resulting in an increasing demand for kitchenware from the commercial segment with increasing living standards, rapid urbanization, and rising disposable income are some of the factors boosting the market
Smart Kitchenware Product Driving the Market
The evolving trend of smart kitchens is causing a shift in consumer buying patterns, resulting in a noticeable impact on market growth and increasing spending on smart kitchenware products. The expansion of the residential sector within the industry is leading to market expansion. The launch of innovative and smart kitchenware products is resulting in a reduction of time spent on doing kitchen work. Smart Cookware products are launched in the market by the manufacturers with their app-enabled smart cookware designs and self-cooking features. The appliance is capable of being controlled remotely through the user’s smartphone leading to an increasing demand by consumers for these kitchenware appliances.
