NEWARK, Delaware, April 25, 2022 (GLOBE NEWSWIRE) — The global tableware market is expected to reach a valuation of US$44.5 billion by 2022, with sales growing to a 5.6% CAGR over the forecast period.
Changes in purchasing behavior, influenced by the development of the domestic segment and growing urbanization, will drive sales of tableware. City dwellers are gradually adopting a western lifestyle in several emerging economies, which is driving the demand for tableware.
The tableware market has grown significantly due to changing lifestyles and trends, especially in developing countries. In addition, buoyant sectors of activity, in particular the hotel industry, have enriched their offer, boosting the tableware market.
In addition, the global tableware market is expected to increase owing to the rapid rise in the number of home renovations, growing number of home units, and growth in modular kitchen construction.
Subsequently, the expansion of commercial sectors, especially in the hospitality sector in developing countries such as India and China, positively affects the sales in the tableware market.
However, the use of disposable plates in hotels and restaurants due to the low cost, low resistance of ceramic tableware and high prices for premium items is expected to hinder the growth of the tableware market.
Key points to remember
- Ceramic tableware is expected to increase at the fastest rate due to the development of low-cost ceramic tableware.
- The US tableware market is expected to increase significantly with the growth of innovative material technologies for tableware accessories.
- Based on the distribution channel, the online channel is expected to dominate the market, accounting for 35% of total sales.
- During the forecast period, the Indian tableware market is expected to grow at a CAGR of 7.9% spearheading the growth of the tableware market in South Asia.
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“The global tableware market is expected to recover and show considerable growth over the forecast period. Dinnerware makers are expected to benefit from the investment in ceramic dinnerware due to improved living standards and the preference for unique, lightweight dinnerware accessories. –IMF Analyst
The ceramic tableware segment will be the main driver of the global tableware market
Compared to many other materials, ceramic dinnerware is the preferred dinnerware material because it can be easily cleaned and is stain resistant. The ceramics segment is expected to have the largest share of the global tableware market in 2021.
Sales are driven by the growing preference for ceramic tableware for domestic use. Additionally, the demand for ceramic wares will increase among hotels and restaurants to add a unique and personal touch.
Also, changing lifestyle, increasing disposable income and introduction of low cost ceramic ware will boost the ceramic tableware segment.
Global tableware market landscape
Major players in the global tableware industry are focusing on providing lighter 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 S.A.
- Villeroy & Boch AG
- Noritake Co. Limited
- Lifetime brands
- The 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 tableware market by product (plates, bowls, cups, trays, cutlery), by material (glass, ceramic, metal, others (plastic, fiber, , etc.)), by distribution channel (online and offline) and by region.
Contents
1. 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 / Limits
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. USP/Delivery Channel Features
4.3. Strategic promotional strategies
5. 2015-2021 Global Tableware Market Demand Analysis and Forecast, 2022-2032
5.1. Historical Market Volume Analysis (Thousands of Units), 2015-2021
5.2. Current and future projections of market volume (‘000 units), 2022-2032
5.3. Analysis of annual growth trends
TOC Continued…
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