The vendor landscape of the global cast iron cookware market is primarily characterized by a high level of fragmentation owing to the presence of several multinationals as well as a large number of unorganized domestic players in key regional markets.
Increasing competition among key players is the main challenge for cast iron cookware manufacturers, which is likely to lead to a decrease in profit margins. As competition intensifies in this sector, with price wars raging among leading players, industry players are expected to put increased focus on improving the efficiency of their value chain, from inbound logistics to distribution, and to a large extent, the marketing and export of products.
Additionally, companies are also trying to introduce a range of differentiated products and packaging for a high margin business segment, in order to cater to the evolving needs of customers, along with enhancing their customer base. Some of the leading companies in the market are Tramontina USA, Inc., The Coleman Company, Inc., Lodge Manufacturing Company, FINEX Cast Iron Cookware Co., Staub USA, Inc., and Le Creuset of America.
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According to the report, the global cast iron cookware market is likely to expand at a CAGR of 3.4% from 2017 to 2025, rising from a valuation of nearly US$2,537.0 mn in 2017 to nearly US$3,303.0 mn by 2025. Of the key end-use consumer segments of cast iron cookware, the segment of food services accounted for the dominant 67.6% share of the overall market. Geographically, the market in Asia Pacific is likely to dominate the overall market in terms of demand through 2025, followed by the markets in Europe and North America.
Rising Consumer Awareness about Health Issues Associated with Non-stick and Aluminum Cookware to Work Well for Cast Iron Cookware Industry
The increasing one-person households across the globe is a substantial global demographic change having extensive consequences, and is having deep implications on a number of businesses ranging from housing to healthcare. This trend is also expected to lead to a surge in the global demand for cast iron cookware in the near future.
Over the last few years, consumer behavior has drastically changed and consumers are more inclined towards researching about products online and purchasing various types of cookware such as such as electric, non-stick, and cast iron cookware through e-Commerce websites. As such, the increased awareness regarding the health issues associated with coatings on non-stick cookware and aluminum products and the flourishing market for online retailing are boosting the cast iron cookware market.
