WILMINGTON, Del., May 8, 2024 /PRNewswire/ -- The rising popularity of biodegradable tableware and the growing emphasis on dining experiences & home aesthetics are projected to drive the global tableware market's growth during the forecast period. The Europe region is predicted to witness prominent growth by 2032.
Allied Market Research has recently published a report, titled, "Tableware Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global tableware market generated $45.6 billion in 2022, and is anticipated to generate $109.9 billion by 2032, rising at a CAGR of 9.3% from 2023 to 2032.
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Prime Determinants of Growth
The increase in popularity of biodegradable tableware and the growing emphasis on dining experiences & home aesthetics are the factors expected to drive the growth of the global tableware market in the forecast period from 2023 to 2032. However, the fragility, safety concerns, and maintenance requirements associated with certain tableware materials may restrict market growth in the coming future. On the contrary, technological advancements and the rising trend towards eco-friendly & personalized dining experiences are expected to offer remunerative opportunities for the expansion of the tableware market during the forecast period.
Report Coverage & Details:
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size in 2022 | $45.6 billion |
Market Size in 2032 | $109.9 billion |
CAGR | 9.3 % |
No. of Pages in Report | 310 |
Segments covered | Type, Distribution Channel, and Region |
Drivers | Growing emphasis on dining experiences and home aesthetics Rising consumer demand for customized and sustainable products Increase in popularity of biodegradable tableware |
Opportunities | Technological advancements in manufacturing processes Growing trend towards eco-friendly and personalized dining experiences |
Restraints | Fragility and safety concerns |
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Type: Glassware Sub-segment to Hold Major Market Share by 2032
The glassware sub-segment accounted for the largest global tableware market share of 28.0% in 2022 and is expected to continue to hold major share by 2032. This significant growth is mainly because glassware offers elegance and versatility, suitable for both special occasions and everyday use. Besides, glass tableware is low-maintenance and easy to clean, making it practical for busy households. Moreover, glass dishes add sophistication to the dining table and are appreciated for their eco-friendliness and non-toxic nature, contributing to their positive impact on the market.
Distribution Channel: Offline Sub-segment to Flourish Immensely During the Forecast Period
The offline sub-segment held the largest market share of 60.8% in 2022 and is predicted to continue to account for the major share by 2032. This growth is majorly owing to the immediate product availability with offline shopping, allowing customers to purchase desired tableware without delay. Additionally, the physical experience of offline shopping enables customers to assess product quality and aesthetics firsthand, contributing to a satisfying shopping experience. Moreover, the accessibility of offline stores caters to individuals with limited digital literacy, further driving offline tableware sales.
Region: Europe Market to witness Significant Growth by 2032
The Europe tableware market accounted for the largest share of 32.4% in 2022 and is predicted to continue to dominate in terms of market share by 2032. This growth is mainly because European culture emphasizes dining as a social activity, fostering demand for well-crafted tableware to enhance the dining experience. Besides, Europe's rich history of craftsmanship, particularly in countries like France, Italy, and the UK, contributes to the allure of tableware, with consumers valuing heritage and artistry. Moreover, Europeans prioritize quality and durability, investing in high-quality materials like porcelain and ceramic for long-lasting pieces.
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Leading Players in the Tableware Market:
- PORCEL S.A.
- Rosenthal GmbH
- PITO
- Steelite International
- Lenox Corporation
- Noritake Co., Ltd.
- Dudson
- La Opala RG Limited
- Villeroy & Boch
- Wedgwood
- FIESTA TABLEWARE
The report provides a detailed analysis of the key players of the global tableware market. These players are employing various strategies including launching new products, entering collaborations, expanding operations, forming joint ventures, and signing agreements, all aimed at boosting their market share and securing their competitive position across different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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