North America Tabletop Kitchen Products Market Is Expected To Grow At A CAGR Of 4.8% From 2021 To 2028
North America Tabletop Kitchen Products Industry Overview
The North America tabletop kitchen products market size is expected to reach USD 17.03 billion by 2028, registering a CAGR of 4.8% from 2021 to 2028, according to a new report by Grand View Research, Inc. The rising number of eateries and restaurants has driven the need for various tabletop kitchen products for the preparation, service, and delivery of various kinds of foods. The rapid growth of the real estate industry and a rise in commercial construction activities in the region are also likely to boost market growth in the coming years.
Rising disposable income, changing lifestyles, and an increasing number of houses are expected to drive the product demand over the forecast period. However, the growing popularity of disposable dinnerware, flatware, and drinkware products is a major factor behind the declining usage of tabletop products in the residential and commercial sectors. Rapid urbanization is one of the prominent factors leading to a change in the purchasing behavior of consumers.
Companies in the market are focusing on increasing product launches to increase their market share. For instance, in April 2019, The Oneida Group, Inc. opened a new retail showroom at FortyOne Madison to unveil new flatware designs for the Spring New York Tabletop Show. The growing trend of wine tasting in developing countries also acts as a major driver for the market. For instance, in 2019, Water Street Wines & Spirits started a new venture for selling wine glasses, serving its existing customer base in Penn Yan, New York, U.S.
North America Tabletop Kitchen Products Market Segmentation
Grand View Research has segmented the North America tabletop kitchen products market on the basis of product, application, and country:
Based on the Products Insights, the market is segmented into Dinnerware, Flatware, Whitegoods, Buffet Products, Drinkware, and Others.
- The dinnerware segment accounted for the largest revenue share of over 35% in 2020 and will expand further at a steady CAGR from 2021 to 2028. The dominance of the segment can be attributed to the high demand for these products among consumers from both, the residential and commercial sectors. The flatware segment is projected to register a significant CAGR of 5.1% from 2021 to 2028.
- Consumers in the market prefer flatware made from metals owing to the strength, resistance to wear and tear, and sharpness of the product. The whitegoods segment is also projected to have a steady growth over the forecast period. These products are generally placed in the kitchen as they offer convenience and require less space.
Based on the Application Insights, the market is segmented into Commercial, and Residential.
- The commercial segment accounted for the highest revenue share of over 64% in 2020 and will expand further at the fastest CAGR over the forecast period. The residential segment accounted for the second-largest market share in 2020 and is expected to register a steady CAGR of more than 4% from 2021 to 2028.
- Modern urban lifestyles, along with smart upgrades and visually appealing product innovation by key industry participants, are increasing the adoption rate of premium and luxury products among consumers. Increasing kitchen remodeling activities in the region are also estimated to drive the product demand.
Key Companies & Market Share Insights
The market is characterized by the presence of several well-established as well as some small- and medium-scale players. Companies in the market have been launching products to gain traction among consumers and increase market share. For instance, Water Street Wines & Spirits started a new venture in 2019 to sell wine glasses to their existing consumer base in Penn Yan, New York.
Companies are trying to maximize market penetration by increasing brand awareness via print & electronic media as well as the internet and social media. For instance, in May 2018, looking to address the needs of restaurant owners and operators, The Oneida Group, Inc. launched a new product at the NRA Show 2018. The company’s popular collection of flatware, Sant’Andrea, visually complements the food and drinks to the liking of chefs and bartenders. Some of the key companies in the North America tabletop kitchen products market include:
- Villeroy & Boch AG
- Lenox Corp.
- Noritake Co.
- The Oneida Group, Inc.
- Fiskars Group
- Lifetime Brands, Inc.
- Corelle Brands LLC
- Steelite International
- Libbey, Inc.
- Hamilton Beach Brands Holding Company
Order a free sample PDF of the North America Tabletop Kitchen Products Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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