According to a new report Global Tabletop Kitchen Products Market, published by KBV research, The Global Tabletop Kitchen Products Market size is expected to reach $59.7 billion by 2027, rising at a market growth of 8.9% CAGR during the forecast period.
The dinnerware segment dominated the market in 2020, with the largest share in the market. The drinkware segment would be the fastest growing segment during the forecast period. The factors responsible for the massive growth are the demand for home dinnerware and the rising interest of people in home-cooking & social dining. People nowadays want to follow a trending dining culture that will give their guests a pleasant experience. Additionally, the presentation and styling of food have become important, giving rise to the selling of dinnerware.
The residential segment is expected to register significant growth during the forecast period. The demand of the segment would be boosted by the growing activities such as Kitchen remodeling. As per the recent studies, there is a rising number of customers, which are increasingly investing in renovating their kitchens. This will further bolster the growth of the residential segment.
The Asia Pacific would be the fastest-growing region of the global tabletop kitchen products market during the forecast period. The product demand is anticipated to boost due to some factors like a rise in the number of home remodeling & renovation projects, increasing disposable income, and constant development in the residential sector in the upcoming period. This region is witnessing a rapid rise in the demand for high-end tabletop kitchen products, particularly in developing countries, like India and China. Moreover, a constant increment in the number of bars, pubs, hotel chains, and other dining restaurants are fueling the regional market growth.
Full Report: https://www.kbvresearch.com/tabletop-kitchen-products-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Haier Smart Home Co., Ltd. (Haier Group Corporation), Koninklijke Philips N.V., Robert Bosch GmbH, Samsung Electronics Co., Ltd. (Samsung Group), Arc Group, Rochini, The Vollrath Company, LLC, Hendi B.V., MatferBourgeat International, and Lenox Corporation
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