U.S. Tableware Market Size, Share & Trends Analysis Report By Product (Dinnerware, Flatware, Stemware), By Application (Residential, Commercial), And Segment Forecasts, 2023 - 2030

U.S. Tableware Market Growth & Trends:

The U.S. tableware market size is anticipated to reach USD 13.3 billion by 2030, growing at a CAGR of 5.6% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The availability of a variety of products attracts consumers to try new brands and products. Consumers are more inclined to purchase tableware from online stores to get access to a wide variety and filter the products based on design, color, print, material, durability, and price.

In the five years leading up to 2019, the doubling of homeowners' equity, driven by escalating home values, translated into a substantial boost in financial capacity for home improvement endeavors. This surge in spending potential significantly heightened the demand for upscale kitchen furniture, consequently fueling the adoption of fancy tableware. The National Association of Realtors (NAR) estimates that existing home sales in the U.S. increased by 10.5% YoY in August 2020 to reach a seasonally adjusted annual pace of 6 million units.

The increasing influence of culinary arts among consumers coupled with growing luxury hotels and high-end restaurants is supporting the demand for tableware in the commercial sector. The rising trend of tourism coupled with the consumers' will to spend more money on exploring exotic destinations & luxury hotels and planning culinary travels is expected to drive the demand for premium and luxury tableware.

With concerns over climate change and deforestation, consumers are increasingly demanding sustainable products. Cookware made from sustainable materials that are free of, glues, polymers, coatings, or dyes, is in demand now more than ever. Consumers are seeking products that are sustainable while also having an aesthetic appeal. For instance, Our Place, a Los Angeles-based company, manufactures tableware that is ethically made with responsible materials and is Teflon as well as PTFE-free.

Rising preference for premium and luxury tableware is expected to drive the market. Also, increasing companies' sustainability can further help in gaining popularity in the long run. Increasing expenditure on social media marketing and growing supply of the products in the market via home improvement centers and e-retailers are expected to significantly help players in gaining market share.

The tableware market in the U.S. is fiercely competitive, featuring both well-established regional and global companies, alongside emerging players striving to penetrate this lucrative sector. Startups in the tableware industry have made a significant impact by offering top-notch, cost-effective products that are both functional and visually appealing. Their direct-to-consumer approach eliminates intermediaries, enabling them to deliver quality products at more affordable prices compared to established brands.

U.S. Tableware Market Report Highlights:

• The dinnerware products dominated the U.S. market for tableware in 2022. Industry participants are providing consumers with a range of appealingly colored dinnerware options. These products are crafted through techniques like hand-painting, stoneware production, or hand-blown glass shaping, and they are designed to be stackable for convenient storage
• The residential application segment dominated the market in 2022 with a share of 60.1%. The increasing number of renovation projects in the U.S. is driving up the demand for fancy tableware. Consumers are inclined to choose products that harmonize with their overall home decor, enhancing the aesthetics of their living spaces
• The commercial application segment is anticipated to grow at the fastest CAGR over the forecast period. The continuous growth of the hotel construction pipeline, which is expanding quarter by quarter, is a key driver behind the increasing demand for fancy tableware in the U.S. According to the most recent U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics, as of the end of the second quarter in 2023, there are 5,572 projects in the hotel construction pipeline, totaling 660,061 rooms. This represents a 7 percent increase in projects and a 6 percent increase in rooms compared to the previous year