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Commercial Tableware Services Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global commercial tableware services products market size was valued at USD 68.92 billion in 2022 and is expected to expand at a CAGR of 5.2% during the forecast period. Growing demand for disposable tableware services owing to the COVID-19 pandemic is expected to drive the market growth. Increasing demand for tableware services from the hospitality sector is expected to further boost the market growth. In addition, growing demand for eco-friendly tableware services is projected to drive the market growth over the forecast period.
The increasing demand for premium and designer tableware services from the hospitality sector is expected to propel the market growth. Manufacturers are focusing on introducing innovative styles of tableware services to cater to the growing demand for designer services. For instance, in September 2021, Tablecraft introduced a new range of designer tableware services to target the hospitality industry. Additionally, the growing demand for eco-friendly tableware services from consumers is expected to further drive the market growth. Manufacturers are introducing biodegradable and compostable tableware services to reduce the environmental impact and cater to the demands of consumers.
Furthermore, the increasing number of food delivery services is expected to boost the demand for disposable tableware services. Growing popularity of restaurant delivery services such as Uber Eats, GrubHub, and DoorDash is expected to fuel the demand for disposable tableware services. In addition, the increasing number of restaurants are focusing on offering takeaway services, which is further expected to drive the market growth.
Moreover, increasing demand for convenience and hygiene is expected to drive the market growth. Manufacturers are introducing products with enhanced convenience and hygiene options, such as lids, to ensure safety and prevent spillage. For instance, in November 2021, Dixie launched a range of products with lids to offer convenience and hygiene for takeaway services. Additionally, manufacturers are focusing on introducing products with attractive designs to appeal to the customers. For instance, in April 2021, Huhtamaki launched a range of designer tableware services to reach out to a larger customer base.
Product Insights
The flatware segment held a share of around 40.1% of the overall market in 2022. Flatware includes various types of cutlery, such as knives, spoons, forks, and other specialized utensils. It is widely used in restaurants, cafeteria, and other food establishments. In addition, the increasing demand for disposable flatware, such as disposable plastic cutlery and paper cutlery, is expected to drive the segment’s growth.
The glassware segment is anticipated to be the fastest-growing segment over the forecast period. This is attributed to the increasing demand for decorative glassware, such as tumblers, goblets, and stemware, in restaurants, hotels, and catering services. Moreover, the increasing adoption of plastic and paper glassware in the hospitality industry is expected to fuel the growth of the segment. According to the U.S. International Trade Commission, the export of glassware in the U.S. has increased from USD 1.1 billion in 2018 to USD 1.4 billion in 2020.
Distribution Channel Insights
The commercial tableware services segment is anticipated to expand at a significant CAGR of 8.2% over the forecast period. This growth can be attributed to the booming hospitality industry and growing preference for restaurant services. In addition, the rising trend of socializing, especially among the younger generation, has resulted in an increase in the number of restaurants and bars, leading to an increase in the demand for commercial tableware services. Moreover, the growing demand for quick service restaurants (QSRs) is expected to drive the segment during the forecast period.
The e-commerce segment is also expected to expand at a rapid pace over the forecast period. The rising penetration of the internet in developing countries has increased the availability of commercial tableware services through e-commerce websites, which is expected to drive the segment during the forecast period. Furthermore, the rising trend of online shopping, due to the convenience of selection and payment, is expected to drive the segment over the forecast period.
Type Insights
The commercial tableware services segment is expected to register the highest CAGR of 5.2% during the forecast period. The increasing demand for disposable tableware is expected to drive the growth of this segment. As the number of food outlets increases, the demand for disposable tableware is expected to increase. In addition, the rising use of disposable tableware in catering services is likely to fuel the growth of the segment. Furthermore, the rising disposable income and increasing number of events such as corporate parties, birthday parties, etc. are expected to drive the demand for these services over the forecast period. Moreover, due to the increasing trend of online ordering and delivery, the demand for disposable tableware products has increased. This is expected to further drive the growth of the segment during the forecast period.
Regional Insights
Europe is expected to dominate the market and accounted for the largest revenue share of over 31.6% in 2022. The growing urbanization in the region is driving the market growth. Increasing demand for on-demand food delivery services and the presence of a large number of restaurants are some of the key factors driving the growth of the market. For instance, in February 2021, British-based restaurant chain Pizza Express announced its delivery of commercial tableware services across the UK.
North America is expected to witness the second-fastest growth in the coming years. This growth is attributed to the rising demand for commercial tableware services in the region, owing to the increasing number of restaurants and food delivery services. For instance, in August 2021, U.S.-based restaurant chain Chilis announced its delivery of commercial tableware services.
Financial Projections
In this part of the commercial tableware services business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a commercial tableware services business comes from sales of tableware, catering supplies, and accessories. Here you will find a list with a description of each of them and other possible sources of profit such as fundraisers, special events, and product rentals.
Projecting Expenses
In this section, all the regular expenses related to keeping the commercial tableware services business running will be described. The list of operating expenses includes inventory costs, wages, maintenance and repairs, utilities, insurance policies, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the commercial tableware services market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Libbey Inc. launched a new range of tableware products including plates, glasses, and cutlery.
– In August 2022, Steelite International launched a new range of tableware products with unique designs and colors.
– In October 2022, Arcoroc launched a new range of tableware products with innovative designs and superior quality materials.
Some of the prominent players in the commercial tableware services market include:
– Libbey Inc.
– Steelite International
– Arcoroc
– Villeroy & Boch
– Seltmann Weiden
– Pasabahce
– Tafelstern
– Duralex
– Arc International
– Dansk International Designs Ltd.
Global Commercial Tableware Services Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global commercial tableware services products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Disposable Tableware
– China and Porcelain Tableware
– Glass Tableware
– Metal Tableware
– Other Tableware
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Food Service
– Retail
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Size of the Global Commercial Tableware Services Market?
[A]: The global commercial tableware services market size was valued at USD 10.5 billion in 2019 and is expected to grow at a CAGR of 6.4% from 2020 to 2027.
[Q]: Who are the Key Players in the Commercial Tableware Services Market?
[A]: The key players operating in the market include Arcoroc, Libbey, Inc., Steelite International, Sysco Corporation, Fiestaware, Homer Laughlin China Company, Inc., The Oneida Group, Inc., International Tableware, Inc., and World Tableware, Inc.
[Q]: What Factors are Driving Growth in the Commercial Tableware Services Market?
[A]: Factors such as the increasing demand for unique and stylish tableware services, the growing popularity of restaurant and hotel chains, and the increasing demand for eco-friendly tableware services are expected to drive the growth of the commercial tableware services market.
[Q]: What are the Regional Market Trends?
[A]: The commercial tableware services market in North America is expected to hold a significant share of the market, owing to the presence of a large number of hotels, restaurants, and bars in the region. In Asia Pacific, the market is expected to witness significant growth due to the increasing demand for unique and stylish tableware services in the region.
[Q]: What are the Key Strategies Adopted by Companies in the Commercial Tableware Services Market?
[A]: Key strategies adopted by companies operating in the market include product innovations, collaborations, mergers, and acquisitions, and strategic partnerships. These strategies help companies to gain a competitive edge and expand their presence in the global market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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