Luxury Tableware Market Is Anticipated to Reach Around USD 39,638 Million in 2028 – Credence Research

The revenue generated by the global Luxury Tableware market in 2021 was over USD 24,492 million and expected to generate revenue worth USD 39,638 million in 2028.

The Global Luxury Tableware Market generated revenue of around USD 24,492 million in 2021 and is anticipated to grow a CAGR of over 6.25% during the forecast period from 2021 to 2028 to reach around USD 39,638 million in 2028. While, cumulative growth opportunity presented by the global Luxury Tableware is around USD 234 billion during 2022 to 2028.

Global Luxury Tableware Market, 2021 – 2028 (USD Million)

The luxury tableware market has been growing substantially year after year. The market is driven by high supply and demand, meeting at a perfect equilibrium, causing the GDP to grow bigger. More so, the sales of high-end luxury tableware are also related to home sales. The more homes are sold, the more there’s a demand for tableware. The market drivers are also cashing in by implementing product differentiation, giving a wide range of variety to their final consumer(s).

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Metalware to Held the Largest Share

Metalware, Glass, Plastic/fiberware and Ceramic are some of the important types of Luxury Tableware. However, metalware is growing in demand owing to wide acceptance from end-users. While, ceramic and glassware are likely to grow at an attractive growth rate over the forecast period as compare to plastic & fiberware. Metalware generated over 30% of the total revenue garnered by the global Luxury Tableware market in 2021.

Commercial Segment to Grow at Rapid Pace

Household and Commercial are major applications of the global Luxury Tableware industry. Commercial segment is growing in its revenue share owing to rising demand from hotels and restaurants in line with increasing demand from customers for luxury experience. Moreover, growing income and changing lifestyle also resulted into growing demand for luxury tableware in household sector.

Offline Sales Channel to Hold Largest Share

Based on sales channel, the global luxury tableware industry is segmented into online and offline segments. Offline segment held over 70% share in 2021. While, online segment is likely to grow at a rapid pace in the years to come on the account of growing awareness among end-users regarding benefits of online channels such as possibility to compare all products simultaneously, growing internet speed, user-friendly e-commers platforms, ease of transactions and hassle-free shopping experience.

Europe is Leading Luxury Tableware Demand

Europe is leading the Luxury Tableware industry with over 35% share in 2021. Presence of large number Luxury Tableware production companies across the region, higher purchasing power parity and growing popularity of lavish lifestyle among end users is mainly driving the demand for Luxury Tableware in the region. UK, Germany and France expected to post attractive CAGR during the forecast period. While, China, India, Japan and South Korea are likely to advance at a rapid pace over the forecast period.

Major players operating in the Fornasetti, Gien, Minton, Noritake, Oneida, Rosenthal, Gorham, Iittala, Juliska, Kate Spade, Alessi, Arte Italica, Artemest, Christofle, Corelle, David Mellor, Ercuis, Leilani, Versace, Villeroy and Boch, Vista Alegre, Lenox, Michael Aram, Mikasa, Royal Doulton, Ten Strawberry Street, Vera Wang, Waterford and Wedgwood. Global Luxury Tableware market is characterized by the presence of large number of manufacturers across the world.

Market Segmentation

Global Luxury Tableware Market by Type, 2016 – 2028

Metalware
Glass
Ceramic
Plastic/fiberware

Global Luxury Tableware Market by Application, 2016 – 2028

Household
Commercial

Global Luxury Tableware Market by Sales Channel, 2016 – 2028

Offline
Online

Global Luxury Tableware Market by Company, 2016 – 2028

Fornasetti
Gien
Minton
Noritake
Oneida
Rosenthal
Gorham
Iittala
Juliska
Kate Spade
Alessi
Arte Italica
Artemest
Christofle
Corelle
David Mellor
Ercuis
Leilani
Versace
Villeroy and Boch
Vista Alegre
Lenox
Michael Aram
Mikasa
Royal Doulton
Ten Strawberry Street
Vera Wang
Waterford
Wedgwood
Others

Browse the full report at  https://www.credenceresearch.com/report/luxury-tableware-market

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