The global tabletop and kitchen products market is expected to grow at a CAGR of around 4.5% from 2021 to 2028 and expected to reach the market value of around US$ 70.5 Bn by 2028.
The tabletop and kitchen products market is dominated by items that contribute to the aesthetics of any bar or restaurant. From the consumer's perspective, it is critical to carefully consider and select each and every aspect of the items that represent the establishment.
Rising trend for tabletop and kitchen among residential spaces fuel the growth of global market
There has been a significant increase in interest in the design of interactive technologies that move away from traditional desktop spaces and places that people naturally inhabit in recent years. At the moment, new technologies based on tangible and tabletop applications are making computer applications more accessible to a wider range of users than ever before. These include people with physical or psychological disabilities, the elderly, and pre-school children. At this time, the decisions made during the game's design process have resulted in reliable performance of the tabletop technology and a structured experience for the children playing the farm game.
Rising prevalence of household appliances is fuelling the growth of global market
With the addition of sustainability, one of the driving factors is a change in lifestyle. Because the majority of the population lives in cities and has limited space, there are more single-person households, people travel, and the kitchen has evolved into the heart of every home due to socializing and entertainment over the years. Because the appliance must be functional and simple to use, it is one of the most important factors in the development of today's smart and connectable appliances. Such factors have a positive impact on the global tabletop and kitchen products market.
Innovation is the key responsible for the growth of global tabletop and kitchen products market
In an ever-changing world with an influx of high innovation and demand for homes that reflect gorgeous detailing and quality with technological advancement. Traditionally, kitchens were dull and strictly utilitarian. With the fast-changing environment, there is a renewed sense of pride and love for modern kitchens that display color or the lack of color in kitchen cabinetry, finishes, tabletop, and even tile backsplashes. Lighting has taken on a new sense of form in modern kitchens, as has the kitchen as a whole. The new generation demonstrates a world that is constantly revolutionizing to experience modernization by offering new product variations. Such factors contribute to the global expansion of the tabletop and kitchen product market.
The global tabletop and kitchen product market is segmented as type and application. By type, the market is segmented as dinnerware, flatware, white goods, drinkware, buffet products, and others. Based on application, the market is classified into residential and commercial.
By type, the dinnerware segment has held a dominant share of the market in the past and is expected to do so again during the forecast period. The dinnerware market is rapidly expanding as a result of rising interest in home cooking and social dining, as well as growing demand for casual dinnerware, particularly among the younger generation. Furthermore, consumers frequently use dinnerware, making the material's sturdiness critical. The ability to resist scratching, chipping, and breaking when dropped determines durability. Such factors are responsible for the segment's growth, which in turn contributes to the overall growth of the tabletop and kitchen products market.
According to application, the commercial segment accounts for a significant share of the tabletop and kitchen products market. The rapid growth of urbanization across economies is one of the key factors that contribute to segmental growth, which in turn contributes to overall market growth. Furthermore, the expansion of the restaurant industry is primarily fostering the customer's desire for convenience, socialization, and high-quality food and services. This is another factor driving the overall growth of the tabletop and kitchen products market.
Europe led the tabletop and kitchen products market by recording the dominant share; Asia Pacific to register fastest growing CAGR for the overall market
Europe held a commanding share in 2020 and is expected to maintain this position throughout the forecast period. Rising urbanization and densification of metropolitan areas are driving up residential construction and the European tabletop and kitchen market. Furthermore, the European tabletop and construction market is highly fragmented due to the high level of competition. Some of the major brands with a presence in this region are another factor that contributes to the growth of the regional market, which in turn contributes to the growth of the overall market.
The dominance of Europe in tabletop and kitchen products is justified, as it serves as an important indicator of high demand due to private consumption expenditure. Currently, real private consumption expenditure in Europe's leading markets has increased by nearly 1-3%. Furthermore, the European tabletop and kitchen products market is primarily driven by a strong interest in home cooking and social dining, as well as a demand for casual dinnerware. Furthermore, the larger Western European economies serve as the primary importers of tabletop and kitchen products, with importers in these countries typically selling their products to customers in other European countries. In terms of marketing, keep in mind that a specific country does not always correspond to a target market. Such factors have a positive impact on further embossing regional growth.
Asia Pacific, on the other hand, is expected to post an all-time high CAGR during the forecast period. China continues to lead the Asia Pacific provinces in the tabletop and kitchen products market, with a justified CAGR during the analysis period. Apart from that, tabletop and kitchen products have gained significant market attention as a result of the wide expansion of the hospitality industry, which acts as a key affluent for driving the tabletop and kitchen products market regionally, ultimately impacting the market's overall growth.
The prominent players of the global tabletop and kitchen products market involve Arc International, EuroCave, Haier Group Corporation, The Oneida Group Inc., The Vollrath Company, LLC, Hendi BV., Matfer Bourgeat USA, BSH Hausgeräte GmbH, and among others
Market By Type
Market By Application
Market By Geography
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Rest of Latin America
Middle East & Africa
• South Africa
• Rest of Middle East & Africa
Tabletop and kitchen products market is expected to reach a market value of around US$ 70.5 Bn by 2028.
The tabletop and kitchen products market is expected to grow at a CAGR of around 4.5% from 2021 to 2028.
Based on type, dinnerware segment is the leading segment in the overall market.
Rising prevalence of household appliances is one of the prominent factors that drive the demand for tabletop and kitchen products market.
Arc International, EuroCave, Haier Group Corporation, The Oneida Group Inc., The Vollrath Company, LLC, Hendi BV., Matfer Bourgeat USA, BSH Hausgeräte GmbH, and among others.
Europe is anticipated to grab the highest market share in the regional market
Asia Pacific is expected to be the fastest growing market in the forthcoming years