Dublin, July 02, 2021 (GLOBE NEWSWIRE) -- The "Tabletop Kitchen Products Market Size, Share & Trends Analysis Report by Type (Whitegoods, Drinkware), Application (Commercial, Residential), Region (APAC, Europe), and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global tabletop kitchen products market size is expected to reach USD 53.88 billion by 2028 and is expected to register a CAGR of 3.5%
The product demand is on the rise especially during the ongoing COVID-19 pandemic owing to the growing trend of home cooking as consumers are trying to avoid any outside exposure.
Demand for fancy cutlery, designer serving ware, and drinkware is increasing due to the rising influence of western culture. The emerging trend of take-away food coupled with a surge in the number of eateries is expected to give stimulus for tabletop kitchen products from the commercial sector as an increasing number of restaurant owners are investing in advanced and attractive products including buffet ware, and dinnerware.
The rapid expansion of the tours and travel industry, as well as the hotel industry, is shaping the hospitality sector. companies are adopting various strategies to gain a strong foothold in the market.
The growing trend of social dining is expected to increase the demand for designer tabletop kitchen products. The rising popularity of modular kitchens has resulted in a growing number of kitchen remodeling projects, thereby driving the demand for cookware. Increasing consumer expenditure on kitchen tools, as open kitchens are trending and ambiance has become a focal point of social gatherings, will boost the demand further.
The drinkware segment is expected to register the fastest CAGR from 2021 to 2028. The growth of the segment is mainly attributed to the increasing number of food & beverage start-ups, rising disposable income, and product innovation, in terms of look, insulation performance, and presentation. In addition, the growing demand for drinkware items from the foodservice and hospitality industries and increasing consumption of beverages are driving the segment growth.
The commercial application segment led the global market in 2020 and will retain the leading position throughout the forecast years. With intense competition, restaurants and bars are taking extra efforts to make customers feel special. Moreover, increasing construction of commercial spaces, such as clubs & bars and halls for meetings, conferences, parties, etc., presents high growth opportunities for self-service and buffet concept in tabletop kitchen products.
Asia Pacific is projected to grow at the highest CAGR of 4.4% over the forecast period. Improving standards of living and economic conditions are expected to be the key factors driving the regional market. Moreover, rapidly expanding residential and commercial construction sectors in the region have positively affected the market. Increasing refurbishing and renovation activities and the growing popularity of modular kitchens are further supporting the regional market growth.
Tabletop Kitchen Products Market Report Highlights
The dinnerware segment accounted for the largest share of over 35% in 2020 on account of the high demand from both residential and commercial application segments
The commercial application segment accounted for the largest revenue share of more than 64% in 2020
The growth was credited to the developments in the hospitality sector and demand for high-end tabletop items from the sector
Europe held the largest revenue share in the global market in 2020 owing to the shift in eating culture, such as increasing preference for casual and social dining, which, in turn, boosts the product demand
Key Topics Covered:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.4. Information Analysis
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Tabletop kitchen products Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Impact of COVID-19 on the Tabletop Kitchen Products Market
3.4. Industry Value Chain Analysis
3.5. Market Dynamics
3.6. Business Environment Analysis
3.7. Roadmap of Tabletop kitchen products Market
3.8. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
Chapter 5. Tabletop kitchen products Market: Type Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2020 & 2028
5.5. Buffet Products
Chapter 6. Tabletop kitchen products Market: Application Estimates & Trend Analysis
6.1. Application Movement Analysis & Market Share, 2020 & 2028
Chapter 7. Tabletop kitchen products Market: Regional Estimates & Trend Analysis
7.1. Regional Movement Analysis & Market Share, 2020 & 2028
7.3. Asia Pacific
7.4. Central & South America
7.5. Middle East & Africa
Chapter 8. Competitive Analysis
8.1. Key global players, recent developments & their impact on the industry
8.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
8.3. Vendor Landscape
Chapter 9. Company Profiles
The Oneida Group
The Vollrath Company
BSH Hausgerate GmbH
Koninklijke Philips N.V
For more information about this report visit https://www.researchandmarkets.com/r/g9p2g5
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