Worldwide, the total value of the Tableware Market sold in the year 2022 was summed up by FMI to be around US$ 47 billion. The market analysis report further predicts it to progress by an astounding average growth rate of 14% over the years between 2023 and 2023. By following this impressive CAGR, the overall market value is predicted to be around US$ 81.8 billion by the end of the year 2033.
The demand for tableware is also expanding as a result of increasing home remodeling projects, and modular kitchen installations in tier 2 cities. The sales of tableware might increase further with the fast expansion of the tourism and hospitality industry supported by paying guests and home décor arrangements. Additionally, the growing number of hotel, restaurant, and cafe (Horeca) businesses is also moderately boosting the need for tabletop items these days.
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Tableware makers nowadays are concentrating on designs inspired by Mexican folk art and Turkish antiquities, which could offer great opportunities in the future. Meanwhile, the growing demand for ceramic and bone china tableware is projected to continue the rise of China market through the forecast years.
Key Takeaways from the Tableware Market Study Report
- Traditionally the demand for different types of tableware is always great in the countries of Europe. In the year 2022, all the countries in Europe together held a 36.4% share of the global market.
- Among the countries of Europe, Germany is the leading producer of tableware and was figured out to have contributed to 4.6% global market share. On the other hand, the demand for tableware in the United Kingdom is projected to exhibit a high CAGR of 2.3% through 2033.
- Based on total tableware business within territorial boundaries, the United States of America leads the market that held 16.1% of the global revenue in 2022. However, the total contribution of North American region is lower than Europe and it held a market share of 30.7% that year.
- Japan is a well-known country for its supply of tableware for a long and in the year 2022. It contributed 11.1% to global revenue share.
- China and India are recently gaining traction in sales of tableware and are anticipated to exhibit 7.4% and 8% CAGRs respectively through 2033.
Competitive Landscape for the Tableware Market Players
The overall industry has moderate to high entry barriers owing to the existence of some giant market participants and the need for substantial setup costs.
The fragmentation of the global market is expected to increase over the course of the projected period with the emergence of new regional players. Such start-ups and new players are promptly creating their market positions in the slow-growing sectors while concentrating mainly on local demands. They are also resorting to possibilities in the notably-growing segments such as online sales channels to take advantage of the chances.
A few other popular business techniques of design innovation and the adoption of high-quality materials have produced attractive prospects for tableware producers worldwide. Online distribution channels for tableware are steadily growing throughout the world assisting manufacturers and suppliers in this sector to market their goods online
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, Inc.,
La Opala RG Limited,
Stölzle-Oberglas GmbH,
The Oneida Group, Inc.,
Dankotuwa Porcelain PLC.
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Global Tableware Market by Category
By Material:
Glass
Ceramic
Metal
Others (Plastic, Fiber, Wood, etc.)
By Distribution Channel:
Online
Offline
By Product:
Plates
Bowls
Cups
Trays
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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