Induction Cookwares Market
Induction Cookwares Market Size, Share & Trends Analysis Report by Product (Pans, Stockpot, Dutch oven, Others (Cooker)), by Material (Stainless Steel, Cast Iron, Carbon Steel), by Application (Residential, Commercial) and by Distribution Channel (Supermarket/ Hypermarket, Specialty Stores, Online) Forecast Period (2024-2031)
Induction cookware market is anticipated to grow at a CAGR of 7.3% during the forecast period (2024-2031). An induction cooker wirelessly transfers electrical energy by induction from a coil of wire into a metal vessel. The coil is mounted under the cooking surface and a low radio frequency as alternating current is passed through it.
Market Dynamics
Growing demand for improved indoor air quality and energy efficiency
Induction does not emit pollutants in the air like a gas burner. This is suitable replacement for gases released from stoves like nitrogen dioxide, carbon monoxide, and formaldehyde. This has increased demand for induction cookware around the globe. As induction stoves are powered by electricity, they present a more sustainable alternative than gas. For instance, in November 2023, Energy Efficiency Services Limited (EESL)launched National Efficient Cooking Programme (NECP)to promote affordable and energy-efficient induction cookers. By deploying 20 Lakh Induction cook-stoves it will reduce the environmental impact of cooking methods, ensuring cleaner air and improved health
Increasing technological advancements
Globally, there is a trend of achieving net zero goals. Improved materials, nonstick coating, and innovative designs have increased its demand in the global market. Several companies are introducing new induction cookware that has precise cooking technology, power, performance, and heat shift. For instance, in July 2023, theAmerican luxury home appliance brand introduced Thermador's exclusive induction features with the power and performance of a convection oven.
Market Segmentation
Our in-depth analysis of the market includes the following segments by product, by material, by application and distribution channel:
- Based on product, the market is sub-segmented into pans, stockpots, dutchovens, and others (cookers).
- Based on material, the market is bifurcated into stainless steel, cast iron,and carbon steel.
- Based on application, the market is augmented into residential and commercial.
- Based on distribution channels, the market is categorized into supermarkets/hypermarkets, specialty stores, and online.
Pan is projected to Emerge as the Largest Segment
Based on the product, the market is sub-segmented into pans, stockpots, dutch ovens, and others (cookers). Among these, the pan sub-segment is expected to hold the largest share of the market. The primary factors supporting the segment's growth include efficiency, precise temperature control, and rapid heating capabilities, along with features like surfaces remaining cool to the touch that appeal to environmentally conscious consumers, favoring the growth of the segment.Induction pans provide a convenient and time-efficient cooking experience.
Stainless Steel Sub-segment to Hold a Considerable Market Share
The characteristics of stainless steel make it suitable for induction cooking, playing a critical role in the increasing demand of stainless steel induction cookware. As it is energy efficient and precise temperature control, the consumer favor cookware that effectively transfers magnetic energy. Durable, resistance to corrosion, and heat distribution makes it preferable cookware in induction cooking setups.Additionally, the magnetic sensitivity of stainless steel enables quick and efficient heating, contributing to its appeal in the market of induction cooking.
Regional Outlook
The market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America).
North America countries to invest in induction cookware
- The US is the key investor and user of induction cookware based products around the globe.
- Canada is shifting from gas burner to induction cookware as does not emit pollutants.
Global Induction Cookwares Market Growth by Region 2024-2031
Europe Holds Major Market Share
Among all the regions, Europe holds a significant share as consumers on Europe prefer healthy cooking alternatives, importance of convenience, easy cleaning, also rising preference for homemade meals, since the pandemic, has increased the demand of induction cookware.
The rapid growth regional market can be recognized to the region's dedication to energy efficiency and sustainability. Consumers in the region are aware about the environmental sustainability laws and regulations. As the cookware are known for its low emission of gasses and energy saving is increasing the demand in the market. Based on current saturation and annual market share of induction cooktops in Europe as estimated by a study commissioned by the European Commission, the maximum potential market saturation is assumed to be 50.0% of households.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the global induction cookwares market include BSH Household Appliances Manufacturing Private Limited, Bajaj Electricals Limited and Subsideries, TTK Prestige Limited, Havells Group, Usha International Limited, and Viking Range, LLC,among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in July 2021, Angaza and ATEC expanded partnership with two new cooking products, with Angaza’s Pay-As-You-Go (PAYG) technology. Digital induction cooktops are part of ATEC’s eCook line of clean cooking devices that are designed to provide consumers in emerging markets with access to safe, easy, and reliable cooking solutions.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global induction cookwaremarket. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. BSH Household Appliances Manufacturing Private Limited
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Media India Private Limited
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. TTK Prestige Limited
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Induction Cookware Market by Product
4.1.1. Pan
4.1.2. Stockpots
4.1.3. Dutch Oven
4.1.4. Others (Cooker)
4.2. Global Induction Cookware Market by Material
4.2.1. Stainless Steel
4.2.2. Cast Iron
4.2.3. Carbon Steel
4.3. Global Induction Cookware Market by Application
4.3.1. Residential
4.3.2. Commercial
4.4. Global Induction Cookware Market by Distribution Channel
4.4.1. Supermarket/ Hypermarket
4.4.2. Specialty Stores
4.4.3. Online
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Anolon.com
6.2. Bajaj Electricals Limited and Subsidiaries
6.3. Chantal Cookware
6.4. Havells Group
6.5. KitchenAid.
6.6. Philips Domestic Appliances India Ltd.
6.7. Tefal.
6.8. Usha International Limited
6.9. Viking Range, LLC
6.10. Whirlpool Corporation
1. GLOBAL INDUCTION COOKWARE MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2023-2031 ($ MILLION)
2. GLOBAL INDUCTION PAN COOKWAREMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
3. GLOBAL INDUCTION STOCKPOT COOKWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
4. GLOBAL INDUCTION DUTCH OVEN COOKWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
5. GLOBAL OTHER INDUCTION COOKWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
6. GLOBAL INDUCTION COOKWARE MARKET RESEARCH AND ANALYSIS BY MATERIAL, 2023-2031 ($ MILLION)
7. GLOBAL STAINLESS STEELINDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
8. GLOBAL CAST IRON INDUCTION COOKWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
9. GLOBAL CARBON STEEL INDUCTION COOKWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
10. GLOBAL INDUCTION COOKWARE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
11. GLOBAL INDUCTION COOKWARE FOR RESIDENTIALMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
12. GLOBAL INDUCTION COOKWARE FOR COMMERCIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
13. GLOBAL INDUCTION COOKWARE MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2023-2031 ($ MILLION)
14. GLOBAL INDUCTION COOKWARE FOR SUPERMARKET/ HYPERMARKETMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
15. GLOBAL INDUCTION COOKWARE FOR SPECIALTY STORESMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
16. GLOBAL INDUCTION COOKWARE FOR ONLINEMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
17. GLOBAL INDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
18. NORTH AMERICAN INDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
19. NORTH AMERICAN INDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY PRODUCT, 2023-2031 ($ MILLION)
20. NORTH AMERICAN INDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY MATERIAL, 2023-2031 ($ MILLION)
21. NORTH AMERICAN INDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY APPLICATION,2023-2031 ($ MILLION)
22. NORTH AMERICAN INDUCTION COOKWARE MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL,2023-2031 ($ MILLION)
23. EUROPEAN INDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
24. EUROPEAN INDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY PRODUCT, 2023-2031 ($ MILLION)
25. EUROPEAN INDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY MATERIAL, 2023-2031 ($ MILLION)
26. EUROPEAN INDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
27. EUROPEAN INDUCTION COOKWARE MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2023-2031 ($ MILLION)
28. ASIA-PACIFIC INDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
29. ASIA-PACIFICINDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY PRODUCT, 2023-2031 ($ MILLION)
30. ASIA-PACIFICINDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY MATERIAL, 2023-2031 ($ MILLION)
31. ASIA-PACIFICINDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
32. ASIA-PACIFICINDUCTION COOKWARE MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2023-2031 ($ MILLION)
33. REST OF THE WORLD INDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
34. REST OF THE WORLD INDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY PRODUCT, 2023-2031 ($ MILLION)
35. REST OF THE WORLD INDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY MATERIAL, 2023-2031 ($ MILLION)
36. REST OF THE WORLD INDUCTION COOKWAREMARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
37. REST OF THE WORLD INDUCTION COOKWARE MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2023-2031 ($ MILLION)
1. GLOBAL INDUCTION COOKWAREMARKET SHARE BY PRODUCT, 2023 VS 2031 (%)
2. GLOBAL INDUCTION PAN COOKWARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
3. GLOBAL INDUCTION STOCKPOT COOKWARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
4. GLOBAL INDUCTION DUTCH OVEN COOKWARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
5. GLOBAL OTHER INDUCTION COOKWARE PRODUCT MARKET SHARE BY REGION, 2023 VS 2031 (%)
6. GLOBAL INDUCTION COOKWAREMARKET SHAREBY MATERIAL, 2023 VS 2031 (%)
7. GLOBAL STAINLESS STEELINDUCTION COOKWAREMARKET SHARE BY REGION, 2023 VS 2031 (%)
8. GLOBALCAST IRONINDUCTION COOKWARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
9. GLOBAL CARBON STEELINDUCTION COOKWARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
10. GLOBAL INDUCTION COOKWARE MARKET SHAREBY APPLICATION, 2023 VS 2031 (%)
11. GLOBAL RESIDENTIALINDUCTION COOKWARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
12. GLOBAL COMMERCIALINDUCTION COOKWARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
13. GLOBAL INDUCTION COOKWARE MARKET SHAREBY DISTRIBUTION CHANNEL, 2023 VS 2031 (%)
14. GLOBALSUPERMARKET/ HYPERMARKETINDUCTION COOKWARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
15. GLOBALSPECIALTY STORES INDUCTION COOKWARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
16. GLOBALSPECIALTY ONLINE COOKWARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
17. GLOBAL INDUCTION COOKWAREMARKET SHARE BY REGION, 2023 VS 2031 (%)
18. US INDUCTION COOKWAREMARKET SIZE, 2023-2031 ($ MILLION)
19. CANADA INDUCTION COOKWAREMARKET SIZE, 2023-2031 ($ MILLION)
20. UK INDUCTION COOKWAREMARKET SIZE, 2023-2031 ($ MILLION)
21. FRANCE INDUCTION COOKWAREMARKET SIZE, 2023-2031 ($ MILLION)
22. GERMANY INDUCTION COOKWAREMARKET SIZE, 2023-2031 ($ MILLION)
23. ITALY INDUCTION COOKWAREMARKET SIZE, 2023-2031 ($ MILLION)
24. SPAIN INDUCTION COOKWAREMARKET SIZE, 2023-2031 ($ MILLION)
25. REST OF EUROPE INDUCTION COOKWAREMARKET SIZE, 2023-2031 ($ MILLION)
26. INDIA INDUCTION COOKWAREMARKET SIZE, 2023-2031 ($ MILLION)
27. CHINA INDUCTION COOKWAREMARKET SIZE, 2023-2031 ($ MILLION)
28. JAPAN INDUCTION COOKWAREMARKET SIZE, 2023-2031 ($ MILLION)
29. SOUTH KOREA INDUCTION COOKWAREMARKET SIZE, 2023-2031 ($ MILLION)
30. REST OF ASIA-PACIFIC INDUCTION COOKWAREMARKET SIZE, 2023-2031 ($ MILLION)
31. LATIN AMERICAINDUCTION COOKWAREMARKET SIZE, 2023-2031 ($ MILLION)
32. MIDDLE EAST AND AFRICAINDUCTION COOKWAREMARKET SIZE, 2023-2031 ($ MILLION)
