Tabletop Kitchen Products Market Size Worth $53.88 Billion By 2028

The global tabletop kitchen products market size was valued at USD 40.81 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.5% from 2021 to 2028.

The global Tabletop Kitchen Products Market size is expected to reach USD 53.88 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to register a CAGR of 3.5% from 2021 to 2028. The product demand is on the rise especially during the ongoing COVID-19 pandemic owing to the growing trend of home cooking as consumers are trying to avoid any outside exposure.

Demand for fancy cutlery, designer serving ware, and drinkware is increasing due to the rising influence of western culture. The emerging trend of take-away food coupled with a surge in the number of eateries is expected to give stimulus for tabletop kitchen products from the commercial sector as an increasing number of restaurant owners are investing in advanced and attractive products including buffet ware, and dinnerware. The rapid expansion of the tours and travel industry, as well as the hotel industry, is shaping the hospitality sector. companies are adopting various strategies to gain a strong foothold in the market.

The growing trend of social dining is expected to increase the demand for designer tabletop kitchen products. The rising popularity of modular kitchens has resulted in a growing number of kitchen remodeling projects, thereby driving the demand for cookware. Increasing consumer expenditure on kitchen tools, as open kitchens are trending and ambiance has become a focal point of social gatherings, will boost the demand further.

The drinkware segment is expected to register the fastest CAGR from 2021 to 2028. The growth of the segment is mainly attributed to the increasing number of food & beverage start-ups, rising disposable income, and product innovation, in terms of look, insulation performance, and presentation. In addition, the growing demand for drinkware items from the foodservice and hospitality industries and increasing consumption of beverages are driving the segment growth.

The commercial application segment led the global market in 2020 and will retain the leading position throughout the forecast years. With intense competition, restaurants and bars are taking extra efforts to make customers feel special. Moreover, increasing construction of commercial spaces, such as clubs & bars and halls for meetings, conferences, parties, etc., presents high growth opportunities for self-service and buffet concept in tabletop kitchen products.

Asia Pacific is projected to grow at the highest CAGR of 4.4% over the forecast period. Improving standards of living and economic conditions are expected to be the key factors driving the regional market. Moreover, rapidly expanding residential and commercial construction sectors in the region have positively affected the market. Increasing refurbishing and renovation activities and the growing popularity of modular kitchens are further supporting the regional market growth.

Related Press Release@ Tabletop Kitchen Products Market Report

Tabletop Kitchen Products Market Report Highlights

• The dinnerware segment accounted for the largest share of over 35% in 2020 on account of the high demand from both residential and commercial application segments
• The commercial application segment accounted for the largest revenue share of more than 64% in 2020
• The growth was credited to the developments in the hospitality sector and demand for high-end tabletop items from the sector
• Europe held the largest revenue share in the global market in 2020 owing to the shift in eating culture, such as increasing preference for casual and social dining, which, in turn, boosts the product demand