San Jose, California (PRWEB) November 10, 2014
Follow us on LinkedIn – The tableware market is characterized by trends such as globalization, consolidation, and casualization. Phenomenal global shift to casual lifestyles is leading to changing consumer preferences in product design, color, styles, and patterns. The ‘Casual’ lifestyle in the United States and Europe, for instance, has prompted manufacturers to develop contemporary patterns, colors and styles. Ceramic stemware, and plateware segments witnessed the emergence of platinum and gold decoration in the upper-market segments, while pastel and citrus colors led the palette in the dinnerware segment. Flatware is increasingly replacing plastic utensils in several regions across the world. The industry today is replete with a range of mix-matched and coordinated product lines. The growing importance being accorded to product appearance and aesthetic appeal is no longer being overlooked, and can be typified by the trend of manufacturers collaborating with fashion designers to design professionally styled and elegant dinnerware, flatware, and crystalware.
The market is facing formidable challenges, arising out of consolidation of major retail outlets, soaring fuel and raw material prices, lack of skilled labor, and artists. In addition, a sudden leap in stainless steel and metal prices is further exacerbating the operating climate in the market. Manufacturers are battling to be cost-competitive and to differentiate their products at point-of-sale, in addition to reinventing the traditional functionality, and design of the product to suite modern consumers’ desire for added product benefits and novel motifs. As consumer preferences continue to change rapidly, manufacturers are faced with the necessity to constantly innovate and reinvent product concepts and designs. Innovation is the emerging name of the game with successful products in the marketplace being those, which are elegant and performance-driven. Several players are experimenting with a combination of various materials, to achieve exclusivity and uniqueness in product design and features. Developing economies, particularly Asia-Pacific, are posting robust gains in demand driven by the growing popularity of decorative tableware as ornamental collectables.
As stated by the new market research report on Tableware, Europe represents the largest market worldwide, followed by Asia-Pacific. The relatively mature North American, and European markets have forced market participants to move to emerging markets in Asia, Eastern Europe and Latin America. China, the largest tableware market is growing at a CAGR of 5.6% over the analysis period, and is emerging as one of the most vibrant markets for high-priced tableware products globally, supported by economic prosperity and expanding personal wealth of the ballooning middle class population. Tableware production is largely concentrated in Asia, with the region accounting for about two-thirds of global production. China is the largest producer of tableware in the world, and accounts for more than 40% of total global production.
Key players covered in the report include EveryWare Global Inc., Oneida Ltd., Guy Degrenne SA, Lenox Corporation, Libbey Inc., Lifetime Brands Inc., Pfaltzgraff Co., Mikasa & Company, Noritake Co. Ltd., Ocean Glass Public Company Ltd., Steelite International plc, The Zrike Company Inc., The Denby Pottery Company Ltd., Villeroy & Boch AG, WMF Württembergische Metallwarenfabrik AG, World Kitchen LLC., and WWRD Holdings Ltd., among others.
The research report titled “Tableware: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in dollars for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Middle East, and Latin America (Brazil, and Rest of Latin America). Product markets analyzed in the report include Dinnerware, Flatware, Glassware, and Crystalware. The US market is further analyzed by segments that include 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).
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 1500+ 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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