Global Tabletop Kitchen Products Market Worth USD 59.79 Billion By 2030 | CAGR of 4.21%

Introduction

The global market for tabletop kitchen products was valued at USD 41.25 billion in 2021, and it is anticipated to reach USD 59.79 billion by 2030 at a CAGR of 4.21%.Products for the tabletop kitchen are created from eco-friendly materials without using polymers, coatings, glues, or dyes. Consumers who are more environmentally conscious are prioritising aesthetic appeal and seeking recyclable, environmentally friendly products. Rising living standards and a growing preference for everyday serving ware for household use drive product demand in the commercial and residential sectors. Additionally, the growing dining trend has increased consumer knowledge of different cooking tools and methods, which has led to a rise in the popularity of tabletop kitchen equipment. The demand for products is also being supported by more spending on remodelling or home renovation initiatives and developments in the hospitality and food service sectors that aim to offer better dining experiences and customer service.

 Market Dynamics

Innovative development is the key to the growth of the market

Many consumers are drawn to the tabletop kitchen equipment, focusing on white goods, due to innovative development in tiny kitchen appliance mobility, ease of use, and compactness. Additionally, the stagnant growth of the travel and tourism sector has created several prospects for a wide variety of tabletop and kitchen products from opulent resorts and star-related hotels. These variables significantly affect the market for kitchen and tabletop goods. In addition, the current boom in the building of commercial space for clubs, wedding venues, and group centres has significantly impacted the development of tabletop and kitchen items, which will ultimately enhance the entire market until the projected period.

Rising disposable income, growing population and changing lifestyles drive the market's growth.

Over the projection period, rising disposable incomes, shifting lifestyles, and an increase in the number of homes are anticipated to fuel product demand. Tabletop kitchen goods are also becoming more and more popular due to the development of self-service kiosks and the popularity of buffet systems in restaurants. Further bolstering the demand for kitchen knives in the commercial sector is the growing influence of culinary arts on consumers and the expansion of upscale lodging facilities and eateries.

The tourism sector is booming, and customers are becoming more prepared to spend money on travelling to far-flung places and staying in upscale accommodations. This aspect has also increased the options for culinary travel and is anticipated to stimulate global product demand. Additionally, the popularity of modular kitchens has increased the number of kitchens remodels, which has raised the need for cooking supplies. Since open kitchens are popular and setting has taken centre stage at social gatherings, consumers are spending more money on kitchenware.

Growth opportunities for the global tabletop kitchen products market

Growth in the commercial and tourism sectors will provide opportunities for market expansion

The commercial category is anticipated to increase at the fastest CAGR during the projection period. Consumer demand for opulent stays in resorts or top-rated hotels creates growth prospects for several product categories in the booming travel and tourism sector. The construction of commercial facilities like clubs, wedding venues, and group centres is expanding, which presents the potential for buffet and self-service ideas to flourish and raise consumer demand.

Regional analysis of the global tabletop kitchen products market

According to region, the market is divided into North America, Europe, Asia-Pacific, South America and the Middle East & Africa.

In 2021, Europe dominated the market and held more than 34% of the highest share. The demand for products in restaurants and hotels around the region is being driven by changing trends in eating culture, such as an increase in the inclination for friendly and casual dining. The growing influence of various Southern European cuisines and food cultures, like French and Italian, on nations in northern Europe is another trend that is positively affecting the market. As a result, elegant cutlery and plates are now used in restaurants and food service establishments. High-end, aesthetically pleasing dinnerware products enhance the dining experience for families and friends, thus promoting the adoption of such items.

Because of its expanding target population, rising levels of disposable income, and improved economic conditions in nations like China and India, the Asia Pacific region is anticipated to have the highest CAGR between 2022 and 2030. Additionally, the market is probably going to be significantly impacted by the region's quickly growing commercial and residential construction industry.

Key Highlights

• The global market for tabletop kitchen products was valued at USD 41.25 billion in 2021, and it is anticipated to reach USD 59.79 billion by 2030 at a CAGR of 4.21%.
• The global market for tabletop kitchen products is divided into three parts based on product, application and region. Further, based on the product, the market is divided into Dinnerware, Flatware, Whitegoods, Drinkware, Buffet Products and Others. In 2021, the dinnerware industry will dominate the market, and the drinkware segment is expected to grow at the fastest CAGR.
• Based on application, the market is bifurcated into Residential and Commercial. The market was dominated by the commercial application segment in 2021.
• According to region, the market is divided into North America, Europe, Asia-Pacific, South America and the Middle East & Africa. Europe dominated the market share in 2021.

Competitive Players

Competitive analysis of the global tabletop kitchen products market

Some of the key players contributing majorly to the global market for tabletop kitchen products market are Linen Chest, Haier, Koninklijke Philips N.V, Arc International, Zalto, The Vollrath Company, Hendi, Samsung, MatferBourgeat International, The Oneida Group, Lenox Corporation, and BSH Hausgeräte GmbH.

Recent Developments

Recent developments in some of the key players

• In December 2021, the well-known Canadian housewares firm "Linen Chest" established a new location in the Square One shopping centre in Mississauga.
• In February 2022, Victoria James, the nation's youngest sommelier at age 21, announced cooperation with Lenox, a significant provider of tables, giftware, and entertaining home products.

Segmentation

Market Segmentation

By Product

• Dinnerware
• Flatware
• Whitegoods
• Drinkware
• Buffet Products
• Others

By Application

• Residential
• Commercial

By Region

• North America
• Europe
• Asia-Pacific
• South America
• The Middle East & Africa