Global Housewares Market to Reach $32.6 Billion by 2010, According to New Report by Global Industry Analysts, Inc.

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Steady economies in Asia, especially China, and characterization of tabletopware as decorative rather than luxury products are together prompting sales. The global housewares (tabletopware) market is projected to reach US$32.6 billion by the year 2010, exhibiting a compounded annual growth rate of over 2.54%.

Housewares (Tabletopware): A Global Strategic Business Report

The population demography plays an important part in defining the tableware trends. Therefore, the composition of population is an important concern for tableware manufacturers. The preference and requirement of these end-users segment differ greatly from each other and therefore, effects the market demand. 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.

Europe is the largest housewares (tabletopware) market in the world and is projected to exceed US$11 billion by the year 2010, as stated by Global Industry Analysts, Inc. Asia-Pacific is the fastest growing market globally expanding at a compounded annual rate of more than 4% over the ten-year period. The mix-and-match trend in the tabletopware market offers consumers a wider range to choose from. Increasingly, consumers are augmenting their existing tabletopware, choosing from an ever-widening range of mix-and-match ensembles arriving in the housewares market. Recent launches in the tableware market, particularly the dinnerware and glassware/crystal segments, reflect the preferences of the contemporary consumer. The market has also witnessed new patterns in gold and platinum in the upscale segments of dinnerware and stemware. Among product groups, dinnerware market is the largest segment in the global housewares (tabletopware) market and is projected to reach US$16.7 billion by the year 2010. Glassware market is the fastest growing product group globally and is projected to expand at a CAGR of more than 2.77% during the ten-year period.

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 and are more inclined toward trendy items. Baby boomers spend reasonable time at their homes and are passionate of staying together with their 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 segment includes those who crossed age of superannuation (retirement) and constitute the fastest growing end-user segment. They are traditional and very conscious to price and functionality of the products rather than embellishments.

Retailers and manufacturers operating in the home fashion business target the Generation Xers' consumer group (aged between 20-29). This consumer group usually seeks housewares that are casually styled, properly functioning mix-and-match products, seeking quality for their money. Consumers of the Generation X like to relax, enjoy life, and take chances and have a laid back attitude, because of which they generally go in for products such as mix-and-match dinnerware, and cookware specifically meant for making healthy food.

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.

The report titled "Housewares (Tabletopware): A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a review of market trends, product overview, product introductions/innovations, and recent industry activity. The study also analyzes market data and analytics in value sales for regions such as United States, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America by the following product group/segment - Dinnerware (Upstairs Formal Dinnerware, Upstairs Casual Dinnerware, and Housewares Dinnerware), Flatware (Stainless Steel Flatware, Silver Plated Flatware, and Sterling Silverware), Glassware (Beverageware, Serveware, Ovenware, Storageware, and Decorative Accessories), and Crystalware (Giftware, Stemware, and Barware).

Key players dominating the global housewares (tabletopware) market include Guy Degrenne SA, Lenox Group Inc, Libbey Inc, Lifetime Brands Inc, Pfaltzgraff Co, Mikasa & Company, Noritake Co. Ltd., Oneida Ltd., The Zrike Company Inc., The Denby Pottery Company Ltd, Villeroy & Boch AG, Waterford Wedgwood PLC, WMF Württembergische Metallwarenfabrik AG, and World Kitchen, LLC.

For more details about this 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 reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Web Site http://www.StrategyR.com

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