Ovenware market seen reaching $2 billion by 2031

The global ovenware market was valued at $1.1 billion in 2021 and is projected to hit $2 billion by 2031, driven by more home baking, more commercial bakeries and stronger demand from hospitality. Allied Market Research says the market is set to grow at a 6.7% CAGR from 2022 to 2031.

Why it matters: - Ovenware demand is rising as baking moves from a hobby to a regular household activity and a commercial business input. - The market outlook points to steady growth across consumer kitchens, bakeries, hotels and restaurants. - Download the sample report for the full market view.

What happened: - Allied Market Research said the ovenware market was valued at $1.1 billion in 2021. - The firm estimates the market will reach $2 billion by 2031. - The forecast implies a 6.7% CAGR from 2022 to 2031. - The report covers product type, material, end user, distribution channel and region.

The details: - Ovenware is used for cooking food in an oven and serving it. - Common materials include stainless steel, copper, aluminium, plastics and non-stick coatings. - Product types include baking sheets, loaf pans, cake pans, muffin pans and pizza pans. - Ovenware is used by consumers above age 15 and is popular across most regions. - The report says rising demand for baked food is helping the category because baked food is seen as tasty and healthy. - The report also ties growth to more commercial bakeries and more consumers buying multiple ovenware items for home and business use. - Buy the report for the full dataset.

Between the lines: - Baking has become a durable post-pandemic habit for many consumers, not just a short-term trend. - The expansion of the female workforce is also supporting demand because busy households are leaning more on make-ahead meals and oven use. - The report cites an Australian Institute of Family Studies finding that 46% of people in Australia are likely to spend more time baking or doing arts and crafts. - The report also cites World Bank data showing that in five of seven regions, more than half of women ages 15-64 participate in the labor market. - Hospitality recovery adds another layer of demand because hotels, restaurants and food chains need more baking and serving tools. - The report says the travel industry and hospitality sector are recovering together, which could support additional ovenware purchases.

What's next: - Allied Market Research expects market growth to continue through 2031 as baking, hospitality and commercial bakery activity expand. - The report points to travel recovery and more foreign tourism as additional demand drivers. - The Ministry of Tourism of the Government of India reported 8,56,337 foreign tourists in the first 10 months of 2021, a sign of rebuilding travel flows.

The bottom line: - Ovenware is a modest but durable growth market, supported by home baking habits and commercial foodservice demand.