Global Stainless Woks Market Size By Product (Non-Stick Woks, Uncoated Woks), By Application (Commercial, Residential), By Geographic Scope And Forecast

Stainless Woks Market Size And Forecast

Stainless Woks Market size was valued at USD 1.9 Billion in 2020 and is projected to reach USD 3.4 Billion by 2028, growing at a CAGR of 8.0% from 2021 to 2028.

Depending on high performance and affordable prices, stainless woks are wildly used in daily life and will drive market growth during the forecast period. The Global Stainless Woks Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Stainless Woks Market Definition

With strong Asian roots, the wok dates back to the Chinese Han dynasty. Traditionally it is a round-bottomed, high-walled pan. The flat-bottomed version is gaining popularity as it can be used on standard ranges and is commonly designed with either two side handles or one long handle. A wok as opposed to a traditional frying pan that distributes heat a lot more evenly. This occurs due to the concave shape with sloping sides and the nature of the material works are made up of. With better heat distribution you receive fewer hot, cold spots and ensure that everything in the wok is finished cooking at the same time.

Due to its shape, tossing food such as stir fry is simpler and allows the ingredients to fall back into the wok. While most commonly used for stir fry, a wok has an array of different potential uses due to its unique design. Since it is deep, it can be easily filled with water and used to boil foods or filled with oil for deep frying. When paired with wood chips and a rack, a wok can be used as a smoker for meats and cheeses. If you have a lid for the wok, it is used for steaming vegetables or seafood. Woks are made up of carbon steel, which is one of the most popular materials for woks is carbon steel. It consists of fast and even heating with durability, making it a favorite of many chefs in the industry.

With proper seasoning, anyone can easily reduce the chance of food sticking to the pan. Stainless Steel is a very durable material that gives off a professional appearance. It is less porous than cast iron or carbon steel, so it is not as vital to the season for optimal performance but is easy to clean as it has a naturally smooth surface. To ensure that your wok remains non-stick, one must know how to season and clean a wok. Seasoning the wok help in reducing the amount of butter, oil, or fat that you have to use while cooking. This is especially the case with porous materials such as cast iron and carbon steel.

Global Stainless Woks Market Overview

The main accessories of the wok are rings and covers. A ring is great for making your range-friendly. The natural round shape of a wok tends to be wobble, and the ring prevents that from occurring, making for much more sturdy cooking. Many rings consist of holes that allow heat to transfer up the walls of the wok for overall increased heat. A good wok cover prevents hot oil and juices from splattering outside of your wok, and keeps food hot by retaining heat that would otherwise escape. As they are designed in all shapes and sizes, most of the covers of woks are domed to allow for proper air circulation and to lock in moisture. During the covid-19 pandemic, the demand for cookware and bakeware is increasing rapidly.

It is mainly due to work from home culture, that the people are bound to be at their home that compels them to cook at home. The rise in online shopping and increasing focus on health and wellness are the main factors that increase the demand for cookware during COVID-19. The kitchen nowadays is a focal point in the home, and sales of products including cookware are increased. Many consumers are ready to invest in branded cookware as they have saved some extra funds by not spending on things like sports, entertainment, and travel during the pandemic situation.

They have shifted that saving to their fitness and improving the home environment, cooking, and wellness. Depending on high performance and affordable prices, stainless woks are wildly used in daily life and will drive market growth during the forecast period. The advancement of technology and its implementation in designing non-stick cookware has boosted the overall market. It will bring market competitiveness and force the players to come up with a new product with unique features. Manufacturers have brought scratch-resistant, equal heat distribution, and low oil-consuming non-stick cookware to attract consumers.

With the consumer’s growing desire for colour utensils, some companies are now offering coloured non-stick cookware to match their desire. Several leading manufacturers from the Global Stainless Woks Market are focused on prioritizing R&D activities and innovations that resonate with the increasing consumption of non-stick cookware products such as non-stick saute pans, woks, frying pans, roasting pans, and stockpots. The growth in these industries drives the market for stainless works in the coming years. However, the increasing use of stainless steel long products in heavy industries may augment market growth over the coming years.

Global Stainless Woks MarketSegmentation Analysis

The Global Stainless Woks Market is Segmented on the basis of Product, Application, And Geography.

Stainless Woks Market, By Product

• Non-Stick Woks• Uncoated Woks• Others

Based on Product, The market is segmented into Non-Stick Woks, Uncoated Woks, and Others.

Stainless Woks Market, By Application

• Commercial• Residential

Based on Application, The market is segmented into Commercial and Residential. The Residential market dominated the Global Cookware Market by Application in 2020, growing at a CAGR of 13.3% during the forecast period. The Commercial market is expected to witness a CAGR of 14.2% during the forecast period.

Stainless Woks Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Geography, The market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Asia Pacific emerged as the dominating region in the Global Stainless Woks Market with a significant market share. It is anticipated to expand swiftly over the forecast period. The Asia Pacific is among the fastest-growing regional market of cookware.

Key Players

The “Global Stainless Woks Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as The Wok Shop, Cuisinart, Joyce Chen, T-fal, Lodge, Ecxel Steel, GreenPan, Tramonitina, All-clad, Calphalon, Woll, Royalstar, Zwilling J.A.Henckels, Supor, KBH, ASD, Midea, Joyoung, Cooker King, Jill May, Anolon, Scanpan, HexClad, and Le Creuset.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• Sep-2020Meyer Global unveiled 6-piece essential kitchenware set as part of the latest Accent series. The series includes a matte black finish and a touch of gold, which has been crafted by a motley crew of food-nerd engineers, designers & researchers who are out to change how people perceive cooking & kitchenware utensils/appliances.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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