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Mexico Cookware Market Assessment, By Product (Pots & Pan, Cooking Racks, Cooking Tools, Microwave Cookware, Pressure Cookers, Others), By Material (Stainless Steel, Cast Iron, Aluminium, Copper, Others), By Distribution Channel (Online, Offline - Brand Stores/Kiosks, Multi-Brand Stores, Supermarkets/Hypermarkets, Others), By End-User (Residential, Commercial), By Region, Opportunities and Forecast, 2016-2030F
Market Report I 2024-04-19 I 81 Pages I Market Xcel - Markets and Data
Mexico Cookware Market witnessed a CAGR of 4.16% during the forecast period (2023-2030) and is valued at USD 12.11 Million in 2022. Mexico has a rich culinary tradition, with a diverse range of regional cuisines that rely on a variety of cooking techniques and ingredients. It has created a strong demand for high-quality cookware products that can withstand the rigors of Mexican cooking. In addition, as more Mexicans move into urban areas and adopt busy lifestyles, there is a growing demand for convenient and efficient cookware products that can help streamline food preparation.
The Mexico cookware market is highly competitive, with both domestic and international manufacturers competing for market share. Mexican consumers are known for their brand loyalty and many are willing to pay a premium for high-quality cookware products that they trust. As a result, many cookware manufacturers are investing in product innovation, design and marketing in order to stand out in the marketplace. In October 2022, Actress and Enterpreneus Eva Longoria launched her multi-functional stove-to-table cookware line brand "Risa Kitchen" which is premium brand.
Increased Online Retail Sales
Mexico has experienced a significant increase in online sales of cookware in recent years, reflecting the growing popularity of e-commerce in the country. One of the factors driving this growth is the increasing number of consumers who prefer to shop online for convenience and accessibility. In addition, the COVID-19 pandemic has accelerated the adoption of e-commerce in Mexico, as consumers turned to online shopping to avoid crowded physical stores. Another factor contributing to the growth of the online cookware market in Mexico is the country's expanding middle class, which has higher purchasing power and a greater interest in cooking and home decor.
Increased Awareness About Health and Nutrition
Consumers are aware of the impact that the quality of their cookware can have on the nutritional value of their food. As a result, there has been a growing demand for cookware that is safe, durable and made from materials that do not release harmful chemicals or toxins into food. Non-stick coatings have become less popular due to concerns over the potential health risks associated with the chemicals used in their production. In response to this demand, manufacturers have begun to offer cookware made from materials such as stainless steel, ceramic and cast iron, which are perceived as safer and healthier options.
Impact of Covid-19
The COVID-19 pandemic had a significant impact on the Mexican cookware market. With the imposition of strict lockdown measures and the closure of non-essential businesses, many brick-and-mortar stores selling cookware were forced to shut down temporarily, leading to a decline in sales. However, as people spent more time at home due to the pandemic, there was an increased demand for cookware as more people cooked meals at home. This led to a surge in online sales for cookware, as people turned to e-commerce platforms to purchase their kitchen essentials.
In addition, the pandemic also caused disruptions in the Mexico supply chain, resulting in shortages of raw materials and production delays. Overall, while the pandemic has had a mixed impact on the Mexican cookware market, with temporary closures of physical stores being a challenge, the increased demand for cookware has led to growth in the online market.
Impact of Russia-Ukraine War
The Russia-Ukraine war has almost no impact or negligible indirect impact that too is limited to coatings utilized in cookware and transportation costs. The war has increased oil prices globally impacting the coatings market which increases the cookware prices by a small margin. However, decent local oil production, reduces the external price pressure and even cheap imports from South American countries can further impact the pricing. The major issue is growth of fuel cost to transport cookware within the country and abroad.
Key Player Landscape and Outlook
Manufacturers are focusing on increasing their manufacturing capacity through mergers and acquisitions. In this way, it enhances their supply chain and aids in the development of new products. Additionally, it aids in giving customers high-quality goods.
Market Xcel's reports answer the following questions:
- What is the current and future market size of the product/service in question globally or specific to different countries?
- How are the markets divided into different product/service segments and the market size and growth of each segment?
- What is the market potential of different product segments and their invest case?
- How are the markets predicted to develop in the future and what factors will drive or inhibit growth?
- What is the business environment and regulatory landscape specific to the product/service?
1. Research Methodology
2. Project Scope
3. Product Definitions
4. Impact of COVID-19 on the Mexico Cookware
5. Impact of Russia-Ukraine War on the Mexico Cookware Market
6. Executive Summary
7. Voice of Customer
7.1. Market Awareness and Product Information
7.2. Brand Awareness and Loyalty
7.3. Factors Considered in Purchase Decision
7.3.1. Brand Name
7.3.2. Quality
7.3.3. Quantity
7.3.4. Price
7.3.5. Product Specification
7.3.6. Ease of Use
7.3.7. Image Quality
7.3.8. Technical Support
7.4. Frequency of Purchase
7.5. Medium of Purchase
8. Mexico Cookware Market Outlook, 2016-2030F
8.1. Market Size & Forecast
8.1.1. By Value
8.1.2. By Volume
8.2. Market Share & Forecast
8.2.1. By Product
8.2.1.1. Pots & Pan
8.2.1.2. Cooking Racks
8.2.1.3. Cooking Tools
8.2.1.4. Microwave Cookware
8.2.1.5. Pressure Cookers
8.2.1.6. Others
8.2.2. By Material
8.2.2.1. Stainless Steel
8.2.2.2. Cast Iron
8.2.2.3. Aluminium
8.2.2.4. Copper
8.2.2.5. Others
8.2.3. By Distribution Channel
8.2.3.1. Online
8.2.3.2. Offline
8.2.3.2.1. Brand Stores/Kiosks
8.2.3.2.2. Multi-brand Stores
8.2.3.2.3. Specialty Stores
8.2.3.2.4. Supermarkets/Hypermarkets
8.2.3.2.5. Others
8.2.4. By End-User
8.2.4.1. Residential
8.2.4.2. Commercial
8.2.5. By Region
8.2.5.1.1. North
8.2.5.1.2. Centre
8.2.5.1.3. West
8.2.5.1.4. East
8.2.5.1.5. South
9. Market Mapping, 2022
9.1. By Product
9.2. By Material
9.3. By Distribution Channel
9.4. By End-User
9.5. By Region
10. Macro Environment and Industry Structure
10.1. Supply Demand Analysis
10.2. Import Export Analysis - Volume and Value
10.3. Supply/Value Chain Analysis
10.4. PESTEL Analysis
10.4.1. Political Factors
10.4.2. Economic System
10.4.3. Social Implications
10.4.4. Technological Advancements
10.4.5. Environmental Impacts
10.4.6. Legal Compliances and Regulatory Policies (Statutory Bodies Included)
10.5. Porter's Five Forces Analysis
10.5.1. Supplier Power
10.5.2. Buyer Power
10.5.3. Substitution Threat
10.5.4. Threat from New Entrant
10.5.5. Competitive Rivalry
11. Market Dynamics
11.1. Growth Drivers
11.2. Growth Inhibitors (Challenges, Restraints)
12. Key Players Landscape
12.1. Competition Matrix of Top Five Market Leaders
12.2. Market Revenue Analysis of Top Five Market Leaders (in %, 2022)
12.3. Mergers and Acquisitions/Joint Ventures (If Applicable)
12.4. SWOT Analysis (For Five Market Players)
12.5. Patent Analysis (If Applicable)
13. Pricing Analysis
14. Case Studies
15. Key Players Outlook
15.1. Cuisinart Mexico.
15.1.1. Company Details
15.1.2. Key Management Personnel
15.1.3. Products & Services
15.1.4. Key Market Focus & Geographical Presence
15.1.5. Financials (As Reported)
15.1.6. Recent Developments
15.2. Amoretti Brothers Inc.
15.3. Hy Cite Enterprises, LLC
15.4. Zwilling J.A. Henckels
15.5. All-Clad MetalCrafters, LLC.
15.6. Tramontina de Mexico S.A. de C.V.
15.7. Newell Brands de Mexico SA de CV
15.8. Magefesa Corp.
15.9. CINSA Sa De Cv
15.10. Groupe SEB USA
15.11. LG Electronics
15.12. Panasonic de Mexico S.A. de C.V.
15.13. Fisher & Paykel
15.14. BSH
15.15. Electrolux AB
15.16. Samsung
15.17. Whirlpool
15.18. Bosch
15.19. Carrier
15.20. Hamilton Beach
15.21. Philips
15.22. SHARP
15.23. Symphony
15.24. Conair
15.25. Maytag
*Companies mentioned above DO NOT hold any order as per market share and can be changed during course of work
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