North America Tabletop Kitchen Products Market Size, Share & Trends Analysis Report By Product (Dinnerware, Drinkware, Flatware), By Application (Commercial, Residential), By Country (U. S. ), And Segment Forecasts, 2021 - 2028.
New York, June 21, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Tabletop Kitchen Products Market Size, Share & Trends Analysis Report By Product, By Application, By Country And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06096544/?utm_source=GNW
North America Tabletop Kitchen Products Market Growth & Trends
The North America tabletop kitchen products market size is expected to reach USD 17.03 billion by 2028, registering a 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 activities in the region are also likely to boost market growth in the coming years.
Rising disposable income, changing lifestyles, and an increasing number of houses are expected to drive the product demand over the forecast period.However, the growing popularity of disposable dinnerware, flatware, and drinkware products is a major factor behind the declining usage of tabletop products in the residential and commercial sectors.
Rapid urbanization is one of the prominent factors leading to a change in the purchasing behavior of consumers.
Companies in the market are focusing on increasing 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.
North America Tabletop Kitchen Products Market Report Highlights
• The dinnerware segment accounted for the largest revenue share of over 35% in 2020 and will expand further at a steady CAGR from 2021 to 2028
• The dominance of the segment can be attributed to the high demand for these products among consumers from both, the residential and commercial sectors
• The residential segment accounted for the second-largest revenue share in 2020 and will expand at a steady CAGR from 2021 to 2028 due to the rising number of residential construction projects and rapid urbanization
• The overall market is characterized by the presence of several well-established as well as some small- and medium-scale players
Read the full report: https://www.reportlinker.com/p06096544/?utm_source=GNW
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