Allied Market Research published a report, titled, “Wok Market by Material Type (Carbon Steel, Cast Iron, Aluminum), by Application (Household, Commercial), by Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Specialty Stores, Online sales channel): Global Opportunity Analysis and Industry Forecast, 2021-2031″. According to the report, the global wok industry generated $1.7 billion in 2021, and is anticipated to generate $3.0 billion by 2031, witnessing a CAGR of 6.3% from 2022 to 2031.
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Prime determinants of growth
The adoption of trendy cookware products, rise in commercial kitchens, cafes, and restaurants, and increase in residential and hospitality kitchens drive the growth of the global wok market. However,increasing concerns regarding Teflon coating restrict the market growth. Moreover, surge in penetration of online shopping present new opportunities in the coming years.
Regional Outlook:
By region, the wok market is segmented into North America, Europe, Asia-Pacific, and LAMEA. The North America market is projected to witness the fastest growth during the forecast period, Due to an increase in television programs featuring food and recipes, the market in the North American area is expected to grow rapidly over the forecast period.
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Leading Key Players In The Market:
The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have been also focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the cigarette paper industry include Bajaj electricals limited, Zwilling J. A. Henckels, TTK prestige limited, Tramontina USA, Inc., Scanpan A/S, Calphalon, Cuisinart, Supor, Target Brands, Inc., and Lodge cast iron.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the wok market analysis from 2021 to 2031 to identify the prevailing market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the wok market segmentation assists to determine the prevailing wok market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as wok market trends, key players, market segments, application areas, and market growth strategies.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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