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What will be the Serveware Market from 2019-2025? | Grand View Research, Inc

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What will be the Serveware Market from 2019-2025? | Grand View Research, Inc

March 11
02:00 2020
What will be the Serveware Market from 2019-2025? | Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting
The global serveware market size was valued at USD 12.3 billion in 2018 and is expected to register a CAGR of 3.7% over the forecast period. Growing popularity of ceramic ware and glassware in households across the globe has been propelling the market.

Growing popularity of ceramic ware and glassware in households across the globe has been propelling the market. The versatility of serveware in commercial applications is also a key factor driving the market. In addition to being aesthetically pleasing, these tableware are suitable for cooking as well as heating in the microwave/oven. The shortcoming of ceramics being breakable and fragile is overcome with the introduction of melamine serveware, which is known to be shatterproof and much more durable.

Growing trend of buffet system for various meals in restaurants across countries such as U.S., U.K., Italy, Hong Kong, China, and India has been a key factor boosting the demand for serving ware, including metal and ceramic chafing dishes. In several North American and European countries, breakfast and lunch buffets are very popular and hosting such meals requires a lot of serveware, which is driving the market.

Players have been competing on design and product innovation, looking to incorporate some of the latest trends in the industry. For instance, EcoBurner’s patented range of chafing dishes is known to be safer, greener, and cleaner than gel and wick variants available in the market. These zero fuel waste burners and serveware produce 75% less carbon emissions, have no toxic fumes, and always stay cool to touch. The chafing dishes are being widely adopted across the globe, in countries like Dubai, Abu Dhabi, Mexico, Singapore, Amsterdam, U.K., and Canada.

The global serveware market is expected to reach USD 15.9 billion by 2025, according to a new report by Grand View Research, Inc., registering a 3.7% CAGR over the forecast period.

 

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U.S. serveware market

 

Further key findings from the report suggest:

  • By product, bowls and platters accounted for more than 30.0% of the global serveware market revenue in 2018. The dominance is attributed to high popularity and penetration of the products in restaurants and households across the globe

  • Chafing dishes will register the highest CAGR of 4.6% from 2019 to 2025 owing to rising demand for buffets and other dining systems across restaurants

  • Metal ware accounted for the largest revenue share of more than 30.0% in 2018. Plastic tableware is expected to witness the fastest growth from 2019 to 2025 owing to the inexpensiveness and wide variety of these products

  • Key manufacturers include Le Creuset, Borosil Glass Works Ltd., Churchill China plc, Fiskars Group, La Opala RG Limited, and All-Clad Metalcrafters, LLC. New product launch is expected to be a key strategy among serveware manufacturers.

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Global serveware market

 

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Grand View Research has segmented the global serveware market on the basis of product, raw material, application, and region:

Serveware Product Outlook (Revenue, USD Million, 2015 – 2025)

  • Bowl & Platters

  • Boards & Trays

  • Chafing Dish

  • Jugs & Beverage Pots

  • Condiments & Sauceboats

  • Compotes & Tiered Stands

  • Others

Serveware Raw Material Outlook (Revenue, USD Million, 2015 – 2025)

  • Metal

  • Plastic

  • Glass

  • Ceramic

  • Wood & Others

Serveware Application Outlook (Revenue, USD Million, 2015 – 2025)

  • Commercial

  • Household

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 26 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 426 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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