Key Opportunities:
- Growth of Online Sales Channels: The increasing shift towards e-commerce provides significant opportunities for market expansion.
- Expansion into Emerging Markets: Penetrating emerging markets offers growth potential due to rising disposable incomes and changing lifestyles.
Current Market Trends:
- Sustainable Materials: There is a growing trend towards the use of eco-friendly materials such as bamboo and recycled glass.
- Artisanal and Handcrafted Tableware: The popularity of unique, handcrafted, and artisanal tableware is on the rise.
Current Market Valuation: The tableware market is expected to reach a valuation of US$ 47 billion in 2023.
Leading Segment: The dinnerware and flatware segment leads the tableware market.
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Key Highlights:
- The global tableware market is projected to reach a valuation of USD 47 billion in 2023.
- FMI market analysis forecasts a CAGR of 14% from 2023 to 2033, with the market value surpassing USD 81.8 billion by the end of the forecast period.
- Ceramic tableware is expected to dominate the market due to its increasing popularity in households, hotels, and restaurants.
- Factors such as changing lifestyles, rising disposable incomes, and urbanization are driving the demand for tableware.
Tourism Industry Boosts Sales
The global tourism industry is a significant driver of tableware demand. The rapid expansion of hotels and other accommodation establishments necessitates a constant supply of high-quality tableware to cater to their guests.
Going Green at the Table
Rising environmental concerns are prompting tableware manufacturers to explore eco-friendly options. Biodegradable materials are gaining traction as consumers become more conscious of their impact on the environment. Companies are recognizing the potential of sustainable packaging and tableware to enhance brand image and appeal to environmentally conscious customers.
Growth Drivers
- Rising disposable income and improving living standards, particularly in emerging economies.
- Increasing urbanization and adoption of Western dining culture.
- Growth of the tourism and hospitality industry.
- Growing consumer interest in eco-friendly and sustainable tableware.
Future Opportunities
- Development of innovative, eco-friendly materials with sufficient strength and durability for tableware applications.
- Continued expansion of online sales channels for tableware.
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The US Market: A Hub of Innovation
The United States tableware market is poised for significant growth, driven by advancements in material technology and product development. FMI estimates that the US market surpassed US$ 7.1 billion in 2022, accounting for roughly 16.1% of the global market share. Continued innovation in areas like ceramic dinnerware sets is expected to further propel market growth in the US.
Key Companies Profiled
- 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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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