May 27, 2021
According to the research report titled ‘Global Commercial Tabletop Kitchen Products Market Size study, by Material (Glassware, Porcelain and Metal Ware), Product (Cutlery, Flatware, Buffet Ware and Tabletop Products) and Regional Forecasts 2021-2027’, available with Market Study Report, global commercial tabletop kitchen products market was remunerated USD 9.93 billion in 2019 and is anticipated to record 7.5% CAGR over 2020-2027, amassing USD 16.48 billion by the end of the forecast timeframe.
Growing trend of social dining, changing lifestyles, and rising disposable incomes are the key factors stimulating global commercial tabletop kitchen products market growth.
Social trends have led to an increase in the number of quick-service restaurants (QSR) and tabletop kitchen products altogether. In fact, The United States Department of Agriculture cites that the number of quick-service restaurants in the United States increased by about 20% between 2000 and 2015.
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Increasing commercial construction projects worldwide are projected to fuel market development. Moreover, the Census Bureau cites that the construction industry in the United States amassed USD 1.3 trillion in 2019, indicating a favorable scenario for the industry.
Commercial tabletop kitchen products are widely used owing to significant developments in the foodservice and hospitality industries, such as the growing adoption of serving ware. As living standards improve and product advances in terms of strain-resistant properties and low-maintenance efficiency emerge, the acceptance and demand for the product is expected to increase, further enhancing the overall market outlook.
Based on material, global commercial tabletop kitchen products industry is segmented into metal ware, porcelain, and glassware. As per product type, the market is split into tabletop products, buffet ware, flatware, and cutlery.
Considering the factors restricting worldwide commercial tabletop kitchen products industry expansion, increasing home deliveries by customers from restaurants and rising utilization of disposable cutlery and drinkware products are major challenges for businesses in the domain.
Speaking of the geographical ambit, Asia Pacific holds considerable portion of global commercial tabletop kitchen products industry share, owing to booming population, rapid urbanization, and rising disposable income of consumers.
Meanwhile, North America industry is expected to expand considerably over the coming years, attributable to developed supply chain, growing hospitality sector, and expanding commercial spaces in the region.
Major players in global commercial tabletop kitchen products market sphere are Mepra S.p.A., Sambonet Paderno Industrie S.p.A., Arc International, The Vollrath Co. LLC, Lenox Corporation, Lifetime Brands Inc., BHS Tabletop AG, Villeroy & Boch AG, Libbey Inc., and The Oneida Group Inc.