Commercial Tableware Services Industry Overview
The global commercial tableware services market size was valued at USD 7.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.7% from 2021 to 2028.
The rising adoption of serving ware with significant development in the foodservice and hospitality industry has been significantly driving the demand for tableware services in the commercial sector. Moreover, rising disposable incomes, changing lifestyles, and increasing social trends promoting social dining have contributed to an upswing in the demand for commercial tableware services.
Gather more insights about the market drivers, restrains and growth of the Global Commercial Tableware Services Market
The evolution of self-service kiosks in restaurants has resulted in the growing adoption of commercial tableware services in large numbers. Events such as holiday parties, business meetings, weddings, or any other social gatherings require feeding a large number of people, wherein a buffet system is considered to be the ideal service option. This scenario is expected to result in the growing adoption of a large number of serving ware such as plates & bowls and cutlery along with other buffet products.
The COVID-19 outbreak has decreased the demand for commercial tableware services quite significantly across the globe. The pandemic has resulted in a stay-at-home situation for hundreds of thousands of people worldwide, which has significantly reduced the incidence of leisure activities, like picnics, parties, and celebrations. Social interaction and gathering have come to a halt or at least reduced by a huge margin posing a great challenge to the commercial tableware services market. This has given a sudden jolt to the growth of the market.
Rapidly increasing urbanization across developing economies is a prominent factor leading to a positive market scenario for commercial tableware services. In line with this, growing investments by countries for the construction of office buildings, hotels, retail stores, malls, hospitals, and other commercial infrastructure will result in the demand for various kinds of commercial tableware services.
A rising section of the population in India has been shifting to countries such as Canada and the U.S., which has created a positive demand for commercial tableware in the North American region. The trend of opening restaurants, cafes, and small eateries that cater to Indians in these countries is gaining much prominence, creating numerous demand opportunities in the market for commercial tableware services.
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Market Share Insights:
- August 2020: Degrenne launched Reconnect, a platform providing support to hotels, restaurants, and cafes in response to the COVID-19 pandemic.
Key Companies profiled:
Some of the prominent players in the global commercial tableware services market include:
- Victorinox
- Cardinal International
- Churchill China Ltd.
- Steelite International
- Fiskars Group
- Dick
- Libbey Inc.
- Villeroy & Bosch AG
- Royal Doulton
- Denby Pottery Company Ltd.
- Gibsons Overseas Inc.
- Republic Plastics
- Dart Container Corporation
- Goodtimes
- Pigeon toe Ceramics
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