San Francisco, June 2, 2021 /PRNewswire/ - Global Industry Analysis Corporation (GIA), a leading market research company, today released a new market research titled "Cast Iron Cookware-Global Market Trajectory and Analysis" report. The report presents a new perspective on the opportunities and challenges of major changes in the market after COVID-19.
Factual overview version: 8; Release date: February 2021. Executive participation: 790 companies: 44-players involved include American Metalcraft, Inc.; Cafallon; Camp Chef, Inc.; Village Gate; Culinary Arts; FINEX Cast Iron Cookware Co., Ltd.; Lava Cookware; Le Creuset of America, Inc.; Lodge Manufacturing Company; Marquette Castings; Meyer Company; Staub USA, Inc.; Indus Valley; Handicrafts; Coleman Company ; Tramontina America Inc.; Worm-like; Victoria Cookware; Williams-Sonoma, Inc. and other companies. Coverage: All major regions and key market segments Segments: market segments (unflavored, flavored, enamel coating); end use (food service, household) Geography: World; United States; Canada; Japan; China; Europe ; France; Germany; Italy; United Kingdom; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia ; United Arab Emirates; the rest of the Middle East; Africa.
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By 2026, the global cast iron cookware market will reach 2.8 billion U.S. dollars. Cast iron cookware is a type of cookware made of a soft heavy metal material called cast iron. Cast iron is considered a high-quality material for cooking food. The cast iron absorbs and retains heat very well and ensures that the heat is distributed evenly across the surface of the cookware. This material can slowly absorb and release heat, so it is very suitable for dishes that require slow cooking. During the COVID-19 crisis, the global market for cast iron cookware is estimated to reach USD 2.4 billion in 2020 and is expected to reach a revised USD 2.8 billion by 2026, growing at a compound annual growth rate of 3.1% during the analysis period. Unflavored, one of the market segments analyzed in the report, is expected to achieve a compound annual growth rate of 2.8% and reach USD 1.7 billion at the end of the analysis period. After a thorough analysis of the business impact of the pandemic and the economic crisis it triggered, the growth of the Seasoned division was re-adjusted to a revised 3.7% compound annual growth rate for the next 7 years.
The US market is estimated at 454.3 million U.S. dollars, while China is expected to grow to 528.4 million U.S. dollars by 2026. The US cast iron cookware market is estimated at 454.3 million U.S. dollars in 2021. China is the second largest economy in the world. It is estimated that by 2026, the market size is expected to reach 528.4 million US dollars, with a compound annual growth rate of 4.2% during the analysis period. Other notable geographic markets include Japan and Canada, which are expected to grow by 2.3% and 2.8%, respectively, during the analysis period. In Europe, Germany is expected to grow at a compound annual growth rate of approximately 2.5%. In these regional markets, the growing demand for baked goods is expected to benefit cast iron baking appliances, from bakeware to plates to frying pans. In particular, cast iron frying pans are becoming more and more popular among home bakers, used for baking chocolate cakes and apple crumbles, and then scorching steaks. This is mainly because the cast iron frying pan allows the amateur baker to better control the baking process from start to finish, because the frying pan can be used on the stove or in the oven. Cast iron pizza pans can bake perfect pie crusts thanks to the unique heat accumulator characteristics of cast iron. Therefore, cast iron bakeware has become a favorite for pancakes, biscuits, cornbread, scones and pancakes.
The segment of enamel-coated cast iron cookware will reach $519.5 million by 2026. Enamel cast iron cookware is made by coating a layer of glass enamel glaze on the surface of the cookware. This coating helps prevent rust, eliminates the need to flavor the metal, and allows for more thorough cleaning. Enamel cast iron cookware is very suitable for slow simmering and extracting flavor from different food ingredients. In addition, the pigments used in the enamel process help produce bright colors. Although enamel-coated cast iron cookware does not have the same cleaning or seasoning issues as uncoated cast iron cookware, the cost of similar style enamel-coated cast iron cookware is significantly higher than that of uncoated cast iron cookware. In the global enamel-coated cast iron cookware segment, the United States, Canada, Japan, China, and Europe will drive the segment’s estimated compound annual growth rate of 3.1%. The total market size of these regional markets in 2020 is 313.5 million U.S. dollars, and by the end of the analysis period, they are expected to reach 387.2 million U.S. dollars. China will remain one of the fastest growing countries in this regional market cluster. Led by countries such as Australia, India, and South Korea, the Asia-Pacific market is expected to reach US$69 million by 2026, while Latin America will grow at a compound annual growth rate of 3.6% during the analysis period. more
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