NEWARK, Del., April 25, 2022 (GLOBE NEWSWIRE) -- The global tableware market is expected to reach a valuation of US$ 44.5 Bn by 2022, with sales growing at a 5.6% CAGR over the forecast period.
Changing purchasing behavior influenced by the developing domestic segment and increasing urbanization will drive the sales of tableware. People in cities are progressively adopting a western lifestyle in several emerging economies, driving the tableware demand.
The tableware market has grown significantly as a result of changing lifestyle and trends, particularly in developing countries. In addition, rising business sectors, particularly the hospitality business, have enhanced their offerings, boosting the tableware market.
Furthermore, the global tableware market is expected to rise due to the quickly increasing number of domestic renovations, growing number of household units, and the growth in the construction of modular kitchens.
Subsequently, expansion of commercial sectors, especially in the hospitality sector in developing nations such as India and China, are positively affecting the sales in tableware market.
However, usage of disposable plates in hotels and restaurants due to low cost, low resilience of ceramic tableware, and expensive pricing of top quality items are projected to stymie the growth in tableware market.
Key Takeaways
- Ceramic tableware is expected to increase at the fastest rate owing to the development of low-cost ceramic ware.
- The U.S. tableware market is expected to rise significantly with growing innovative material technologies for tableware accessories.
- Based on distribution channel, the online channel is expected to dominate the market, accounting for 35% of total sales.
- During the forecast period, the India tableware market is expected to grow at a CAGR of 7.9% spearheading the growth in South Asia tableware market.
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“The global tableware market is projected to recover and show considerable growth over the forecast period. Tableware manufacturers are expected to profit from investing in ceramic tableware owing to the improved standard of living and preference for unique and lightweight tableware accessories.” –FMI Analyst
Ceramic Tableware Segment to be the Key Driver of the Global Tableware Market
In comparison to many other materials, ceramic tableware is the most preferred tableware material as it can easily be cleaned and are stain-resistant. The ceramic segment is expected to have the largest share in the global tableware market in 2021.
Sales are driven by increasing preference to have their dinnerware of ceramic for household purposes. Also, demand for ceramic ware will surge among hotels and restaurants to add a unique and personal touch.
In addition, changing lifestyle, increasing disposable income, and introduction of low-cost ceramic ware will boost the ceramic tableware segment.
Global Tableware Market Landscape
The key players in the global tableware industry are concentrating on providing lighter-weight and more environmentally friendly packaging. Some of these key players are -
- Lenox Corporation
- Abert SpA
- Anhui Deli Household Glass Co. Ltd.
- Meyer Corporation Group
- Saint-Louis
- Steelite International plc
- Raynaud Limoges
- ARC International SA
- Villeroy & Boch AG
- Noritake Co. Limited
- Lifetime Brands
- La Opala RG Limited
- Stölzle-Oberglas GmbH
- Dankotuwa Porcelain PLC.
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Global Tableware Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global market for tableware market by product (plates, bowls, cups, trays, cutlery), by material (glass, ceramic, metal, others (plastic, fiber, wood, etc.)), by distribution channel (online, and offline), & region.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Distribution Channel Innovation / Development Trends
4. Key Success Factors
4.1. Distribution Channel Adoption / Usage Analysis
4.2. Distribution Channel USPs / Features
4.3. Strategic Promotional Strategies
5. Global Tableware Market Demand Analysis 2015–2021 and Forecast, 2022–2032
5.1. Historical Market Volume (‘000 Units) Analysis, 2015–2021
5.2. Current and Future Market Volume (‘000 Units) Projections, 2022–2032
5.3. Y-o-Y Growth Trend Analysis
TOC Continued…
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