Bakeware includes dishes, trays, or other items used for baking. Bakeware needs to be heat-resistance in order to sustain the heat of baked food. Buyers prefer durable bakeware. Another important factor that buyers consider while purchasing bakeware is the amount of food that sticks to the bakeware during baking. Several manufacturers coat their bakeware to make them less sticky than non-coated bakeware, and market their products as ‘nonstick’. There are different types of dishes and trays of different sizes, shapes and materials designed for different baking recipes available in the market.
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Increasing number of nuclear families around the world, especially in developing countries, is a key driver for the global bakeware market. Unlike joint families where a single bakeware set is used among multiple couples, nuclear families are likely to buy a separate bakeware set for the only couple in the family. When joint family gets splits up into multiple nuclear families total number of families in the region increases. Increasing number of nuclear families around the world is currently driving the global bakeware market.
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Increasing average disposable income of households in developing countries is another key driver of the global bakeware market. The economies of developing countries such as India, China, and Brazil are expanding at a significant rate. Many families that earlier could not afford modern bakeware can presently afford modern bakeware. Average disposable income of households in developing countries has increased significantly, which in turn is estimated to increase the demand for bakeware in developing countries in the near future.
As gender pay gap has reduced over time in developing countries, female contribution to overall family income has increased significantly. In developing countries, in most families where food is baked by a family member, it is likely to be baked by the female family member. Females are more likely to make purchase decisions, as compared to the recent past, due to the increase in their contribution to the overall income of the family. The number of females using bakeware to bake for their family is significantly higher than number of males using bakeware to bake for their family. Consequently, female buyers who are purchasing bakeware items to be used by themselves are likely to prefer premium items, as compared to male buyers who are purchasing bakeware to be used by other family members, in developing countries. Increasing female income is anticipated to drive the demand for bakeware in developing countries in the near future.
Increasing number of households without a kitchen is a key restraint for the global bakeware market. According to report published by the Home Ministry of India, based on Socio-Economic Caste Census India in 201,7 around 1.7 crore households in urban areas in India do not have a separate kitchen. Households without a separate kitchen are likely to limit the purchase of bakeware to save space. Some households without a kitchen also prefer not to buy any kitchenware at all, making them completely dependent on restaurants or other food sources for their daily food requirements. Increasing number of households without a kitchen is likely to restrain the global bakeware market in the near future; however, as family members in households without a kitchen often eat at restaurants, the demand for bakeware from commercial consumers is estimated to rise in the near future. Hence, the impact of this restraint on the global bakeware market is anticipated to be moderate.