The North America tabletop kitchen products market size was valued at USD 11.69 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2021 to 2028. 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 in the region will drive the market in the coming years.
Companies in the market are focusing on 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.
Key Player Mentioned:
- 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
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Product Segment Analysis:
- Dinnerware
- Flatware
- Whitegoods
- Buffet Products
- Drinkware
- Others
Application Segment Analysis:
- Commercial
- Residential
The global Covid-19 pandemic has significantly increased the awareness regarding basic hygiene and safety among people. Stay-at-home, social distancing, and lockdowns have been imposed in states to varying degrees to try and limit the spread of the virus, with strict regulations in the U.S. and Canada, some of the hardest-hit countries. The lockdown is slowly being uplifted across countries in North America, which is creating a favorable scenario for the restaurant and hotel industry, which, in turn, boosts the market growth.
Currently, businesses are taking longer to deliver orders on the back of the local state’s stay-at-home advisory and mandatory closure of nonessential businesses. Continuous improvement in restaurant chain transactions was aided by adding 93,000 restaurant units in the U.S. states, wherein on-premise dining restrictions were uplifted in May. Upscaling of restaurants and the overall growth in the restaurant industry will create steeper demand for premium and innovative tabletop kitchen products.
Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa
Access Press Release: https://www.grandviewresearch.com/press-release/north-america-tabletop-kitchen-products-market-analysis
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