The global Tabletop Kitchen Products Market size is expected to reach USD 59.81 billion by 2030, registering a CAGR of 4.1% over the forecast years, according to a new report by Grand View Research, Inc. rising disposable incomes, changing lifestyles, and an increasing number of houses are expected to drive the product demand over the forecast period. Furthermore, the evolution of self-service kiosks and the popularity of buffet systems in restaurants have also resulted in the growing adoption of tabletop kitchen products. Moreover, the increasing influence of culinary arts on consumers, coupled with the growing number of luxury hotels and high-end restaurants, further supports the demand for kitchen knives in the commercial segment.
The
tourism industry is flourishing, and consumers are increasingly willing to
spend on exploring exotic destinations and staying in luxury hotels. This
factor has also broadened the scope for culinary travel and is expected to
drive the product demand across the globe. In addition, the rising popularity
of modular kitchens has resulted in increased instances of kitchen remodeling,
thereby driving the demand for cooking products. Consumers are also increasing
their expenditure on kitchen tools as open kitchens are trending and ambiance
has become a focal point of social gatherings. Moreover, the lockdown is slowly
being uplifted in various regions, which is creating a favorable scenario for
the restaurant and hotel industry.
This,
in turn, widens the scope for tabletop kitchen products in the commercial
application. Continuous improvement in restaurant chain transactions was aided
by adding 93,000 restaurant units in U.S. states, wherein on-premises dining
restrictions were uplifted in May 2021. In addition, according to The NPD
Group, Inc., general merchandise sales in the U.S. have also increased by 3% in
the week ending June 13, 2020, compared to the previous year. These include
houseware and small domestic appliances. Thus, this upscaling of restaurants
and the overall growth in the restaurant industry will create high demand for
premium and innovative tabletop kitchen products.
Related Press
Release @ Tabletop Kitchen Products Market Report
Tabletop Kitchen Products Market Report Highlights
- Europe
accounted for the largest share of the global revenue in 2021 due to high
the demand for premium tableware on account of the robust growth in the
hospitality sector
- Increasing
focus on quality tableware and glassware to create the right ambiance in
commercial eating places is propelling the demand for glassware and other
tabletop kitchen products in the region
- The drinkware segment
is projected to register the fastest CAGR from 2022 to 2030. Product
manufacturers are avoiding the use of BPA, a harmful chemical. For
instance, TOSSWARE offers Crystal Clarity TOSSWARE, which is made of the
highest-quality polymer and is 100% BPA-free, recyclable, and shatterproof
- The rapid
growth of the hospitality industry and increasing disposable income levels
are the main factors driving the growth of this segment
- The
commercial segment is expected to grow the fastest CAGR during the forecast
period. A thriving travel and tourism industry possesses growth
opportunities for different product categories owing to consumer
preference for luxurious stays in resorts or highly-rated hotels
- Increasing
construction activities of commercial spaces, such as clubs, marriage
halls, and group centers, offer growth opportunities for buffet and
self-service concepts, thereby driving product demand
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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