The global Tableware Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global tableware market is estimated to reach USD 60.4 billion, by 2025, and is projected to grow at a CAGR of 6.0% from 2019 to 2025, according to a new report by Million Insights. The change in lifestyle along with the rise in the disposable income level of consumer, and growth in number of houses are expected to surge the market growth.
Key Players:
- Ikea Inter Group
- Tesco
- Meyer Corporation, U.S.
- Mikasa
- Cuisinart
- Saint-Louis
- Reynaud Limoges
- Bernardaud
- Waterford Wedgewood
- Puiforcat
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Growth Drivers:
The rapid rise in the population and increasing urbanization are major factors that are changing consumer inclination towards tableware products. For instance, in 2011, the number of houses in India rise up to 78.48 million from 52.06 million in the past ten years. This trend is anticipated to continue in the coming few years. Additionally, the growing migrating population from one country to another has boosted the consumption of the household. This factor is expected to propel the product demand.
Product Outlook:
- Metalware
- Ceramicware
- Glassware
- Plastic/Fiberware
The tableware market is divided into glassware, ceramicware, fiberw are and metalw are segmented by product. In 2018, metalware segment held the largest market share of over 32.0% in the overall market. In countries such as India, people prefer metal made dinnerware over other. Stainless steel made products such as stands; glasses are anticipated to increase metalware product’s demand. Furthermore, the rising demand for aluminum-based dinnerware owing to its health benefits is projected to propel the market growth.
Ceramicware products are anticipated to have significant growth in the next few years. The availability of ceramicware at low cost and rising disposable income levels is expected to proliferate the demand of the product. Glassware product is also projected to have substantial share at the end of 2025.
Distribution Channel Outlook:
- Online
- Offline
In 2018, the offline channel held the largest market share of over 83.0% in the overall market. Ceramicware segment is expected to have significant growth in the forecast period, owing to the growing concerns about delivery of fragile products. The availability of wide range of products across wholesale markets, and retail outlets is a prominent factor gaining traction among consumers.
Online channel is projected to grow at a CAGR 0f 7.5% during the forecasted period. The growing network of e-commerce platforms, faster delivery options provided by online retailers is expected to boost the market growth. Online sector is also expected to have significant growth over the forecast period, as the consumer with busy and hectic life schedule prefer to buy through online platforms.
Regional Outlook:
In 2018, Europe accounted for the largest market share of over 35.0% in the overall market. Germany contributed to the highest market share in Europe and is projected to grow at a CAGR of 7.6% from, 2019 to 2025. The growing purchasing power of consumer across the region is anticipated to increase the demand of various types of tableware.
The Asia Pacific region is estimated to be the leader in terms of CAGR in the market, owing to the large demand from countries such as China, and India. The rise in the number of hotels, bars, and other outlets is fostering the growth of the market.
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