Global Tabletop Kitchen Products Market by Type (Drinkware, Whitegoods), by Application (Commercial, Residential) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global tabletop kitchen products market was worth USD 40.81 Billion in 2020. It is projected to grow at a compound annual rate (CAGR of 3.5%) between 2021 and 2028. Product demand is increasing in both residential and commercial sectors due to the growing preference for everyday serving ware, as well as the improvement in living standards. The growing popularity of eating out has led to a greater awareness of different cooking techniques and utensils, which in turn has led to the adoption of many tabletop kitchen products. Product demand is also rising due to increased home renovation and remodeling spending and improvements in hospitality and food service industries, which offer better customer service and dining experiences.

Houzz, an online platform for home remodeling, reports that the demand for kitchen remodels was up 40% in June 2020, while the demand to add home improvements rose 52%. Product manufacturers are also collaborating with architects, contractors, and builders. Market growth is being driven by the growing popularity of cook-at-home and the concept of self-service and buffets in the culinary industry. The market is undergoing major changes in the residential market. These trends include appliances that can be used in small spaces and appliances that can meet the needs of consumers. Flatware sets are popular among modern consumers. They also want easy-to-use appliances such as grinders, coffee/teamakers, and microwaves that let them personalize their meals. The market is also growing due to the increase in restaurants, hotels, and commercial kitchens.

The product demand is being driven by the increasing number of commercial construction projects in the hospitality industry. Tabletop kitchen products are becoming more popular due to the rise in popularity of buffets and self-serve kiosks at social events. Dining out is more than just dining. It is important to retain customers. This depends on how the customer experience. The residential segment will also see significant growth due to the expanding product application range on occasions such as weddings, holidays, and other social gatherings. Due to rising concerns about climate change and global warming, consumers are more demanding sustainable products.

More people are looking for tabletop kitchen products that are made from sustainable materials and are free of dyes, coatings, glues or polymers. With increasing awareness, consumers are looking for products that will not harm the environment or can be recycled. Our Place, a Los Angeles company that manufactures tabletop kitchen items, is ethically manufactured with responsible materials, and is both PTFE- and Teflon-free. People's attitudes towards wellness and the kitchen have changed since the COVID-19 pandemic. The rise in home-based workers has led to a tremendous increase in home improvement projects. According to the Joint Center for Housing Studies of Harvard University, there was a 2% increase in remodeling in large metropolitan areas in 2020.

Type Insights

With a market share of more than 35% in 2020, the dinnerware segment was the most profitable. This segment's growth is due to growing interest in social cooking and home-cooking, as well as the demand for casual dinnerware, especially from the younger generation. Today's consumers prefer to enjoy extravagant dining experiences that are more refined. The rise in importance of food styling is also affecting the sales of dinnerware. From 2021 to 2028, the fastest CAGR is expected to be in the beverageware section.

Over the forecast period, whitegoods is expected to see a significant increase in sales. Whitegoods include items such as microwave ovens and toasters, electric kettles, and tea/coffee machines. These appliances are now housed in compact storage areas with hidden cabinets, giving the kitchen a spacious feel. This segment will see a rise in demand due to the increased application possibilities of these appliances in commercial sectors. White goods are also a great choice because of the busy lives of professionals. Whitegoods are in high demand because of their convenience, portability and storage requirements.

Application Insights

With a 64% revenue share, the commercial sector was the dominant market player in 2020. This can be attributed to an increase in hotels and restaurants, and the development of the hospitality industry, which strives to provide a quality experience for customers. The growth of the commercial segment is positively influenced by fast-paced living in metropolitan and cosmopolitan areas, growing demand for quick-service restaurants (QSRs), and increasing millennials' preference for QSRs. This segment growth is also supported by the rapid expansion in the travel and tourism sector. The industry's focus on quality service is driving more customers to resort and luxury hotels, which in turn drives the demand for premium-quality serving ware.

It is expected that the residential segment will also experience significant growth. The product demand is expected to grow due to increased kitchen remodeling. Houzz Inc. reported that 29% of consumers had renovated their kitchens in 2019. This is a key factor in the sector's growth. These factors are driving residential sector product demand.

Rapid urbanization, increasing residential construction, and an increase in nuclear families are all contributing factors. The sales of residences have increased during the extraordinary period of COVID-19. Zillow, an American online real-estate marketplace, reports that 5.64 million homes were sold in 2020. This was 5.6% more than 2019. The market has also been stimulated by record-low mortgage rates that were set during the heights of the pandemic.

Regional Insights

Europe dominated the global market in 2020, with a revenue share exceeding 34%. The region will continue to grow at a steady CAGR of 3% from 2021-2028. Product sales are being driven by the rapid adoption of tabletop kitchen appliances in both the home and the foodservice sector. Consumer demand for quick and easy snacks and breakfast meals is driving market growth.

Asia Pacific is expected to grow at the fastest rate of CAGR during the forecast period. Increasing disposable income, continued expansion of the residential sector, as well as growth in home remodeling and renovation projects will all contribute to significant product demand in the coming years. The demand for high-end table top kitchen products in Asia Pacific is increasing, especially from developing countries like China and India. The region's market is also growing due to the presence of more bars, restaurants, and pubs.

The North American market is experiencing high consumer spending and high demand for different product categories. The region's consumers are willing to spend on high-end tabletop products that match their modular cooking decor.

Market Share Insights & Key Companies

Due to the presence of many international and regional players, the market is fragmented. Due to their extensive product range, major players hold a stronghold in the market. Market players are in fierce competition because some of them are top-producing and have large customer bases. To cater to different regions, the market players are working to expand and strengthen their distribution channels. The Oneida Group, Inc. opened a new retail store at Forty One Madison in April 2019 to display new flatware designs for Spring New York Tabletop Show. There were more than 150 flatware designs on display, including new additions that offer a variety of aesthetic perspectives. These strategies help players showcase their products and gain an edge over the rest. These are some of the top players in the global market for tabletop kitchen products:

• Arc International

• Zalto

• Haier

• The Oneida Group

• Vollrath Company

• Hendi

• Koninklijke Philips N.V

• MatferBourgeat International

• Samsung

• BSH Hausgerate GmbH

Up Market Research published a new report titled “Tabletop Kitchen Products Market research report which is segmented by Type (Drinkware, Whitegoods), by Application (Commercial, Residential), By Players/Companies The Vollrath Company, Matfer Bourgeat International, BSH Hausger¤te GmbH, The Oneida Group, Haier, Zalto, Arc International, Hendi”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Tabletop Kitchen Products Market Report Segments:

The market is segmented by Type (Drinkware, Whitegoods), by Application (Commercial, Residential).

Tabletop Kitchen Products Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Tabletop Kitchen Products Market

Overview of the regional outlook of the Tabletop Kitchen Products Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Tabletop Kitchen Products Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Tabletop Kitchen Products Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Drinkware

                2. Whitegoods

                1. Commercial

                2. Residential

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Tabletop Kitchen Products Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Tabletop Kitchen Products Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.