Five major concerns for the development of the cookware market

With the acceleration of the pace of life and work, the miniaturization of the family scale driven by the increase in the number of single people and the rapid development of takeaway services, the market demand for the kitchen small appliance industry and the open flame cookware industry has brought a certain impact. For example, the multi-functionality of product demand under fast-paced, the small volume of products under single people, etc. Especially in 2020, the impact of the new crown pneumonia epidemic stimulated and accelerated the channel pattern changes of open fire cookware, the retail share of online channels increased significantly, and in 2021, due to the recurrence of the epidemic, the rise in raw material prices, low consumer confidence and other multiple factors, online growth is also slightly weak. According to AVC online monitoring data, the retail sales of 11 categories totaling 6.78 billion yuan in all categories of 2021M1-10 cookware (woks, enamel pots, pressure cookers, pot sets, hot pots, frying pans/pans, milk pans, casseroles, kettles, soup pots, and steamers) totaled 6.78 billion yuan, an increase of 1.3% year-on-year; retail sales of 50.05 million units, down 2.6% year-on-year. So what are the trends in the online cookware market in the year after the epidemic? Here are 5 points for you:

The growth rate of the cookware category segment is more obvious

With the differentiation of purchase demand brought about by the age difference of consumers and the segmentation of diversified scene use, the subdivision category in the cookware category has been widely loved by consumers since 2021, of which the online ranking first is the pressure cooker retail sales increased by 31.0% year-on-year, the main core reason for the sharp increase in the retail sales scale of this category year-on-year is the sharp decline in pork prices, and the pressure cooker is the direct use of consumer stew category, also in the kitchen appliances and small household appliances, The meat grinder category is also loved by consumers, especially in third- and fourth-tier cities. The second place is the enamel pot, retail sales increased by 23.2% year-on-year, enamel coated cast iron pot, referred to as enamel pot, fast heat conduction, uniform heating, good thermal insulation performance. Although the preheating of the enamel pot is slower than that of ordinary pots, it can maintain a stable heat after the preheating is completed, and it can be maintained with a small fire. After turning off the heat, the pot body can also be kept warm for a long time. Although the pot body is thick and heavy, it is well sealed. Another important point is that the enamel outside the cast iron layer can be set in a variety of colors, and different shapes look beautiful and delicate, showing the quality of life.

The price segment has moved up in layers, and the proportion of high-end cookware has increased

According to Aowei Cloud Network (AVC) online monitoring data, the retail sales share of the 0-99 price segment of the whole category of cookware decreased, moving up to the 200-399 price segment, and the retail sales share increased by 3.4%, in addition to the retail sales share of 800+ products also increased slightly by 0.7%.

Safe and durable stainless steel is popular

Among all product materials of cookware, stainless steel shows that the market retail sales share increased by 2.0% in the cumulative data from January to October 2021. The proportion of stainless steel products in woks has risen, mainly because the hot sale of honeycomb anti-stick pan products has fundamentally lifted the pain points of consumers who are afraid of sticky pans. The main impact on the cookware wok market is the material upgrade, high-quality 304 food grade stainless steel or 316L stainless steel reflects a certain degree of safety and durability; in addition, the thermal conductivity of honeycomb structure products is better, making the heating more uniform, which is a good experience for consumers; and the main brands have successively participated in the market competition on new products, making the market continue to develop in a virtuous circle.

Online competition is fierce, and the proportion of new products is high

Compared with the small household appliance category, the online channel development process of cookware is relatively slow, the new crown epidemic in 2020 has forced some consumers to choose online channels, and for the cookware industry, online has undoubtedly become a new battlefield, for online because consumers can choose a wider range, product novelty and uniqueness is particularly important, according to Aowei Cloud Network (AVC) 2021M1-10 online cumulative data calculated that the average monthly share of new products in the core category of cookware is 13.7%, The average monthly share of new rice cookers in the kitchen small appliance category with better online development accounted for 12.6%, which shows that the new competition in online products in the cookware market is particularly fierce.

Backpackers traveling with cooking has the potential to open up new markets

With the increasing number of tourists in China, tourism peripheral products are also constantly hot, such as portable electric kettles, portable hanging ironing machines, portable razors and a series of portable products have ushered in the favor of consumers. According to McKinsey's March 2021 consumer travel preference survey, 45% of people choose outdoor scenery, followed by 41% of people who prefer beaches or resorts, which shows that people prefer more nature-based outdoor sports, so the demand for cooking utensils for backpack customers' outside sports is also increasing, and it is expected to become the next market segment favored by consumers.