February 04, 2021
According to the research report titled ‘Global Ceramic Tableware Market Size study, by Type (Porcelain, Bone China, Stoneware (ceramic), Others) by Application (Commercial Use, Home Use) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global ceramic tableware market was valued at USD 62 billion in 2019 and is expected to record a 5.2% CAGR during 2020-2027.
Increasing population, and surging home renovation projects are the key factors stimulating global ceramic tableware market growth. In addition, stain resistant property, and easy cleaning of beverageware as well as dinnerware made from ceramic are also adding to the overall market outlook. According to US Census Bureau, home ownership in the nation has seen an increase of 64.5% in April 2019 since 2016.
For those unversed, ceramic tableware is generally made from clays like melamine, porcelain, stoneware, and bone china, and is used to add uniqueness and personal touch to homes, restaurants, and hotels.
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Evolving lifestyle further boost the purchase of new dinnerware, impelling global ceramic tableware market industry expansion. Furthermore, shifting preference towards modular kitchens, and growing home décor industry are augmenting the market share. According to Livspace, in India, a 350% hike in demand for modular kitchens was observed in the home interiors and renovation platforms in the previous 6 months before May 2018. Also, online sales channel promoting ceramic tableware offers lucrative prospects for the business expansion.
On the downside, availability of other materials in dinnerware is likely to hamper worldwide ceramic tableware industry remuneration over the study period.
Based on type, the market is split into stoneware (ceramic), bone china, porcelain, and others. With respect to application scope, the industry is categorized into home use, and commercial use.
Considering the regional landscape, North America currently accounts for a major portion of worldwide ceramic tableware market share, on account of rising house renovations along with increasing number of restaurants and hotels.
On the other hand, Asia Pacific ceramic tableware industry is poised to accrue notable gains by 2027, owing to improving lifestyles, booming population, and increasing disposable income.
Renowned companies in global ceramic tableware market sphere are Portmeirion Group plc, Lenox Corporation, Fiskars Group, WMF Group, Schonwald Ceramics, Seltmann Weiden, KAHLA/Thuringen Porzellan GmbH, Meissen Porcelain, Rosenthal GmbH, and Villeroy & Boch.