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Tabletop Kitchen Products Market Size, Share 2025 | Industry Report

Tabletop Kitchen Products Market Analysis Report By Type, By Application, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619670  |  Published: May 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global tabletop kitchen products market size was accounted for USD 47.5 billion, in 2018. It is estimated to grow at a CAGR of 3.7% during the forecast period, 2019 to 2025. Growing hospitality and food service industry coupled with rising demand for serving ware among the millennial population across the globe are the major factors driving the market growth. Moreover, food service providers are focusing on providing better service quality and improved dining experience. This is anticipated to propel the market growth for tabletop kitchen products over the forecast period.

Shifting of trend towards buffet system is anticipated to further drive the product demand. Demand for appliances such as coffee machine and microwave is growing at the robust pace across both commercial and residential sectors owing to their easy utility and an option getting customized meals. Moreover, serving ware are gaining high popularity among consumers owing to growing trend of platting and presenting food items. This is projected to fuel the market growth over the forecast period.

U.S.tabletop kitchen market_1

Shifting of trend towards buffet systems and self-service kiosks at food chains and restaurants has driven the demand for such products. In addition, tabletop kitchen products have witnessed a rising traction among consumers across the residential segment. This is also projected to impact positively on the market growth. Furthermore, buffet system is an ideal option for serving large masses of people coming for various occasions and social gatherings such as weddings, holiday parties, and business meetings. Therefore, serving ware and utensils such as drinking ware and plates are extensively being used on such occasions. This is anticipated to drive the product demand over the forecast period.

The drinkware segment is gaining high popularity owing to emerging concept of having a separate beverage counter at residential and commercial spaces. Moreover, majority of luxury households have separate bar counters in their homes. This is also projected to propel the demand for drinkware across the commercial as well as residential sectors. Moreover, chaffing dishes are gaining popularity owing to emerging trend of buffet system which serves hot food to large masses of people. These factors are anticipated to fuel the market growth over the forecast period.

Type Insights

The segment of white goods consists of products including coffee marker, electric kettles, microwave ovens, and toasters. These products occupy less space in the kitchen as compared to other kitchen appliances and provide high convenience to the users. Moreover, these products are extensively used in commercial sector to ensure the best service quality and improve the dining experience. In addition, toasters and electric kettles are being used in day-to-day life owing to busy schedules and hectic lifestyles of people across the globe. Furthermore, these appliances consume less time in preparing meals. These factors are expected to drive the segment growth over the forecast period, 2019-2025.

The drinkware segment is anticipated to grow at the fastest CAGR of 4.8% over the forecast period. In western countries, a trend of consuming wine instead of other alcoholic drinks in order to promote healthy lifestyle is gaining traction among the consumers. Therefore, people are largely investing in buying luxurious and fancy drinkware. Moreover, rising consumer expenditure coupled with high standards of living are projected to propel the demand for drinkware product segment in western region over the forecast period. Furthermore, prevalence of tea culture in Asian countries coupled with availability of affordable bone china crockery are the factors projected to positively impact the segment growth from 2019 to 2025.

Application Insights

In 2018, the commercial application segment held the largest market share of over 64.6% across the global market. Growing hospitality and food service sector and rising number of luxury hotels and restaurants are the factors driving the segment growth. Moreover, new entrants such as FabHotels and Oyo Rooms are gaining high popularity among the consumers across the globe. Therefore, major players in this sector are trying to provide upgraded services to cater to rising competition. This factor is driving the demand for tabletop kitchen products among the consumers across the commercial sector.

Growing tourism sector and increasing inclination towards luxury resorts and hotels are also impacting positively on the product demand. Therefore, premium products are gaining traction across the commercial sector to cater to upgraded services. Moreover, rising trend of buffet systems on occasions such as weddings, corporate parties, and other events in order to serve large masses of people is expected to drive the demand for tabletop kitchen products over the forecast period.

Global tabletop kitchen products market

The residential application segment is projected to grow at the fastest CAGR of 3.5% over the forecast period owing to rising construction for residential buildings and growing population across the globe. This has increased the household consumption, thereby, driving the product demand. Moreover, rising inclination of consumers towards the usage of affordable and convenient appliances in everyday life is anticipated to propel the growth of white goods segment. Therefore, manufacturers are constantly engaged in developing upgraded products that provide high convenience to their consumers. For example, Xiaomi Corporation in 2017, launched Mi electric kettle with LED indicator and made using stainless steel and matte plastic. In addition, young population are highly adopting the western culture and their eating habits. This factor is also projected to create potential growth opportunities for serving ware and table top kitchen appliances across the residential sector.

Regional Insights

In 2018, the tabletop kitchen products market in Europe accounted for the revenue share of USD 16.6 billion. Kitchen appliances such as electric kettles, toasters, and microwave ovens are prominently used by majority of the households and food service sectors owing to their convenience, improved technology, faster processing, and high efficiency. Moreover, high end lifestyles along with hectic schedules are some of the factors projected to fuel the regional demand over the forecast period.

Asia Pacific is projected to grow at the fastest CAGR over the forecast period due to growing adoption of advance kitchen appliances and prevalence of tea culture in countries such as China and India. Moreover, rising population and rapid urbanization are also contributing to the growth of regional market. In addition, rising number of restaurants, pubs, hotels, bars, fine dining, and luxury star rated hotels in the region is projected to drive the regional market growth from 2019 to 2025.

Tabletop Kitchen Products Market Share Insights

Leading players operating in this industry include Zalto, Arc International, Haier, The Vollrath Company, The Oneida Group, Hendi, BSH Hausgeräte GmbH, and Matfer Bourgeat International. Presence of such international and domestic players in the industry has made the market highly competitive in nature.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Billion  & CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Report coverage        

Revenue forecast, company share, competitive landscape, growth factors and trends

Country Scope

U.S., Germany, U.K, India, China, Brazil,

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global tabletop kitchen products market report based on type, application, and region:

• Type Outlook (Revenue, USD Billion, 2015 - 2025)
    • Dinnerware
    • Flatware
    • Whitegoods
    • Drinkware
    • Buffet Products
    • Others

• Application Outlook (Revenue, USD Billion, 2015 - 2025)
    • Residential
    • Commercial

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
    • Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa (MEA)

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