Developing Markets to Drive Growth in the Global Housewares (Tabletopware) Market, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Housewares (Tabletopware) markets. Global market for Housewares (Tabletopware) is projected to exceed US$39 billion by 2018, driven by gains in Asian economies, and growing popularity of Tabletopwares as fashionable items with ornamental value. In addition, phenomenal global shift to casual lifestyles is leading to changing consumer preferences in product design, color, styles, and patterns.

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Housewares (Tabletopware): A Global Strategic Business Report

San Jose, California (PRWEB) October 15, 2012

Follow us on LinkedIn – World tabletopware market is characterized by globalization, consolidation, and casualization trends. The recent ‘Casual’ lifestyle in the US and Europe, for instance, prompted leading players to adopt contemporary patterns, colors and styles. The ceramic, stemware, and plateware segments witnessed the emergence of platinum and gold decoration in the upper-market segments. Pastel and citrus colors led the palette in the dinnerware segment. The industry today is replete with a range of mix-match and coordinated product lines. The growing importance being accorded to product appearance and aesthetic appeal can no longer be overlooked, and can be typified by the recent trend of manufacturers roping in fashion designers to help design professionally styled and elegant products such as dinnerware, flatware, and crystalware.

Demographics play an important part in defining the tableware trends. The composition of population is an important concern for tableware manufacturers. The preference and requirement of end-users differ greatly from each other and therefore, affects market demand. Young and unmarried people are usually peripatetic and spend a little on tableware, but on cheaper variety of tableware products. Employed couples without offspring are quite lavish (due to higher disposable income) and are more inclined toward trendy items. They are key customers for high-end (and informal) product designers of tableware & kitchenware. Baby boomers (middle aged) spend reasonable time at their homes and are passionate of staying together with family and friends. Hence, they normally look out for variety of formal products. They prefer functionality and price of products to embellishments, despite having higher disposable income. Senior Citizens prefer to stay in smaller houses. They are traditional and very conscious to price and functionality of the products rather than embellishments.

Housewares market is predominantly characterized by in-store shopping where customers prioritize on tactile aspects of purchasing. Majority of the customers prefer to buy tabletopwares or dinnerwares by analyzing the product in person. Over 70% of the overall housewares sales comprise in-store shopping, keeping the online sales on a backburner. Geometric designs are the most preferred design patterns by customers in the housewares segment. Additionally, retailers offering tabletop collections generally reserve additional floor space for best-selling popular patterns that generate higher sales for them. According to vendors and buyers operating in these categories, one sure way of keeping the collections up-to-date is by extending outstanding and best-selling patterns and lines into new categories. By doing this, manufacturers hope to lure consumers to purchase complete collections of their dinnerware patterns.

Major lifestyle and market factors influencing consumer preferences in the market for housewares include demographics such as changing needs of the younger generation coupled with cross-generational lifestyle shifts, time constraints and the need for a relaxed multi-functional home. Consumers look for durability, price, grace, style and appearance during the purchase of glassware. Retailers and manufacturers operating in the home fashion business target the Generation Xers’ consumer group (aged 20-29). This consumer group usually seeks housewares that are casually styled, properly functioning mix-and-match products, seeking quality for their money.

As stated by the new market research report on Housewares (Tabletopware), Europe represents the largest market worldwide. However, Asia-Pacific region offers the highest growth potential owing to increasing disposable incomes, and changing lifestyles in the region. Dinnerware represents the largest segment, while Glassware market offers the highest growth potential.

Major players in the global marketplace include Guy Degrenne SA, Lenox Corporation, Libbey Inc., Lifetime Brands Inc., Mikasa & Company, Noritake Co., Ltd., Oneida Ltd., Pfaltzgraff Co., The Denby Pottery Company Ltd., The Zrike Company Inc., Villeroy & Boch AG, WMF Württembergische Metallwarenfabrik AG, World Kitchen LLC, and WWRD Holdings Ltd.

The research report titled "Housewares (Tabletopware): A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions, and other strategic industry activities. The report provides market estimates and projections for Housewares (Tabletopware) in US$ million by Dinnerware, Flatware, Glassware, and Crystalware segments. Geographic markets analyzed include the United States, Canada, Japan, Europe (France, Germany, Italy, UK, and Rest of Europe), Asia-Pacific, Middle East, and Latin America.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Housewares_Tabletopware_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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