The pots and pans market has seen growth of 4.7% in volume and 10.8% in value from January to April 2015 against the corresponding period of last year. The stronger increase in value is indicative of the more premium areas of the market in growth such as induction, ceramic and sets.
Induction ready pots and pans recorded growth of 50.9% in volume in 2015. This increase has been driven by an average price drop of 12.7%. Despite a price reduction, the average induction pot and pan sells for a 122% premium over the average non-induction pot and pan.
Ceramic has experienced a similar price reduction in 2015 thus far, down 30.2% in average price from the first four months of 2014. The increasing affordability has allowed this segment to grow 23.5% in volume.
Sets of pots and pans have also driven the overall market value by growing 14.5% year on year in value thus far in 2015. However, this growth has not been driven by price erosion, as the volume of sets sold has only grown by 2%.