LONDON--(BUSINESS WIRE)--Technavio’s global ceramic tableware market research report forecasts the market to grow at a CAGR of more than 5% during the forecast period.
The increasing home renovation and modular kitchen projects will be one of the major trends in the global ceramic tableware market during 2019-2023. The number of home renovation projects in the Americas has been increasing since 2016. The average spending on dining renovation in the US grew by around 13% in 2016 when compared with the previous year. The trend in dining renovation is anticipated to continue growing during the forecast period and a considerable amount of revenue from dining renovation projects is anticipated to flow into ceramic tableware products.
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According to Technavio analysts, one of the key drivers for the global ceramic tableware market is the increasing number of households:
Global ceramic tableware market: Increasing number of households
The residential consumers are the major end-users of ceramic tableware products. The demand for ceramic tableware is anticipated to grow owing to the increase in household numbers globally. The number of single-person households and single families in the US and Canada has been increasing steadily. The residential construction in the US grew by 5.59% in 2018. Canada witnessed nearly 2% increase in residential construction activities between 2017 and 2018.
According to a senior research analyst at Technavio, “Some of the major countries that import ceramic tableware products include the US, Canada, Spain, and the UK. Cumulatively, these countries accounted for nearly 30% of the global imports in 2017. Hence, the demand for ceramic tableware in these countries is anticipated to remain high amid increasing household numbers.”
Global ceramic tableware market: Segmentation analysis
This global ceramic tableware market analysis report provides market segmentation by product (ceramic dinnerware, ceramic beverageware, and ceramic flatware) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major products, the ceramic dinnerware segment held the largest ceramic tableware market share in 2018, contributing to around 60% of the market. This product segment will dominate the global market throughout the forecast period.
The EMEA region held the largest share of the market in 2018, accounting for over 35% share. It was followed by APAC and the Americas respectively. The EMEA region is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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