Cast Iron Cookware Market Anticipated to Grow at 3.7% CAGR, Reaching USD 2.2 billion by 2031 | Transparency Market Research, Inc.
Health consciousness and the desire for wellness-related products will drive demand for cast iron cookware.
Wilmington, Delaware, United States, Jan. 10, 2024 (GLOBE NEWSWIRE) -- *Transparency Market Research Inc. -* The *cast iron cookware* industry was valued *at US$ 1.6 billion* in 2022. A CAGR of 3.7% is expected from 2023 to 2031, reaching *US$ 2.2 billion* during the forecast period. Iron is particularly beneficial to individuals who suffer from iron deficiency when foods are cooked in cast iron. Researchers have found that iron contained in cookware enters food through the cooking process, similar to the iron found in vegetables. Hence, this helps prevent anemia by increasing iron intake.
Sustainable and eco-friendly cookware may become more popular as environmental concerns gain importance. Manufacturers may explore more environmentally friendly production processes based on the durability and long lifespan of cast iron. As consumers' needs evolve, manufacturers may be able to create new styles, shapes, and features by using new technology or design. Heat distribution could be improved, ergonomic handles could be introduced, and other improvements could be made to facilitate user use.
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Small-batch and handmade cast iron cookware are often purchased by consumers who are willing to pay a premium for them. Investing in *innovative design elements, like modern shapes, preseasoned options, and improved handles,* also plays an important role in the market's growth.
*Global Cast Iron Cookware Market: Key Players*
Leading manufacturers invest in research and development, expand their products, and acquire other companies. Product development is a top priority for top players. There are a large number of regional and global players on the market, making it highly competitive.
· American Metalcraft, Inc.
· Camp Chef, Inc.
· FINEX Cast Iron Cookware Co.
· Lava Cookware USA
· Lodge Manufacturing Company
· Made In
· Marquette Castings
· Meyer Corporation
· The Coleman Company, Inc.
· Tramontina USA, Inc.
· Other Key Players
*Key Findings of the Market Report*
· Based on type, the enamel-coated segment is expected to drive demand for cast iron cookware.
· In terms of style, Dutch ovens are likely to drive the cast iron cookware market.
· A significant portion of the growth in demand will be driven by the food services industry.
· Supermarkets/hypermarkets are likely to drive the cast iron cookware market.
· Asia Pacific will hold a significant share during the forecast period.
· North America is predicted to grow fastest in the cast iron cookware market.
*Global Cast Iron Cookware Market: Growth Drivers*
· The durability and long life of cast iron cookware make it an excellent choice. In addition to being long-lasting, cast iron cookware is affordable, making it an excellent investment. In addition to being versatile, cast iron cookware can be used for many different cooking methods. Those seeking multi-functional kitchen goods will appreciate the versatility of these products.
· Cast iron cookware is popular due to its vintage or retro aesthetic. Decorative and functional purposes can both be served by cast iron pieces due to their classic, timeless look. Sustainable and eco-friendly products are growing in popularity as consumers become more environmentally conscious. Due to its durability and low maintenance, cast iron cookware fits perfectly with this style of cooking.
· In recent years, celebrity chefs, cooking shows, and culinary trends have contributed to an increase in awareness of premium cookware, including cast iron. Consumer preferences are influenced by endorsements from chefs and influencers. Artisanal and locally crafted products are becoming increasingly popular.
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*Global Cast Iron Cookware Market: APAC to be the Go-To Investment Destination*
· *The Asia Pacific region is expected to lead the market for cast iron cookware market*. Demand for cast iron cookware is expected to rise in the coming years due to the rise in the usage of cast iron cookware in developing countries such as India and China. Several Asia-Pacific countries have experienced economic growth that has increased disposable income. With people's changing lifestyles and their desire for premium, durable kitchenware, cast iron cookware has become increasingly popular.
· *In the Asia Pacific, cast iron cooking may offer health benefits*. In addition, Western culinary trends have gained popularity in Asia-Pacific and cast iron cookware is becoming more popular. Cultural exchange and tourism have contributed to the introduction of new techniques and utensils in the kitchen. Tourists and expats, influencing local tastes, may bring the appreciation of cast iron cookware back.
*Key Developments*
· In April 2023, Meyer Corporation's Rachael Ray brand launched Nitro Cast Iron, a cast iron collection with a protective enamel that prevents chipping, rusting, and staining.
· In September 2023, Stove Kraft Ltd., a leading global manufacturer of cast iron cookware, opened the world's first factory used for casting iron. By April 2024, the company will start production trials at this foundry, and products from it will be on the market.
*Global Cast Iron Cookware Market: Segmentation*
*By Product Type*
· Unseasoned
· Seasoned
· Enamel Coated
*By Style*
· Dutch Ovens
· Camp Pots
· Skillets/Fryers
· Woks
· Others (Griddles etc.)
*By End User*
· Household
· Food Services
*By Distribution Channel*
· Online
· Company-owned websites
· E-commerce websites
· Offline
· Supermarkets/Hypermarkets
· Specialty Stores
· Others (Retail Stores etc.)
*By Region*
· North America
· Europe
· Asia Pacific
· Middle East & Africa
· South America
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