PUNE, India , Feb. 16, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Porcelain Tableware Market by Type (Cups, Plates & Bowls, Cutlery, and Glasses), Material (Feldspar, Kaolin, and Quartz), Price Range (Low, Medium, and High), End-use (Residential, Commercial), Distribution Channel (Online, Offline), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031", the market size was USD 2.87 Bn in 2022 and is expected to reach USD 4.58 Bn expanding at a CAGR of 5.3% by the end of 2031. This growth is attributed to the increasing demand for porcelain tableware in cafes, restaurants, and hotels across the globe, especially in developing countries.
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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments, including type, end-use, and competitor analysis.
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Highlights on the segments of the Porcelain Tableware Market
Based on type, the global porcelain tableware market is segmented into cups, plates, bowls, cutlery, and glasses. The cups segment is expected to constitute a significant market share during the forecast period, as it has applications across various industries such as restaurants, cafes, and food joints.
On the basis of material, the global porcelain tableware market is fragmented into feldspar, kaolin, and quartz. The kaolin segment is anticipated to hold a significant share during the forecast period owing to the rising demand for white tableware in commercial use.
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Based on the price range, the global market is classified as low, medium, and high. The medium segment is estimated to register a considerable CAGR during the forecast period, owing to its increasing demand in the various food services industries such as restaurants, cafes, and hotels.
In terms of end-use, the global porcelain tableware market is bifurcated into residential and commercial. The residential segment is estimated to hold a major market share in the forecast period, owing to the rising usage of porcelain tableware for dining in the residential setting.
On the basis of distribution channel, the market is bifurcated into online and offline. The offline segment is projected to expand at a significant CAGR during the forecast period owing to the rising walk-in buying, sales, and offers offered by the companies to attract consumers.
Based on region, the global market is classified into North America , Europe , Asia Pacific , Latin America , and the Middle East & Africa . The market in Asia Pacific is expected to hold a major market share in the coming years owing to a large number of key manufacturers of porcelain tableware present in emerging economies such as India and China .
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Key Takeaways from the Study:
Porcelain is a specific form of ceramic that is lightweight compared to ceramic or pottery. It is widely used to make cups, bowls, cutlery, and plates. It is tasteless, odorless, and translucent.
The rapid growth in porcelain usage in the residential and commercial sectors such as cafés, restaurants, and hotels to attract more consumers can drive the global market.
Bowls made up of porcelain are getting traction in the commercial and residential industries as they are scratch- and stain-resistant which makes them easy to use these come in a variety of colors which gives consumers' kitchens a complete makeover.
The tourism industry is growing rapidly in developing countries such as India and China with increased demand from various hotel establishments.
The market in Europe is anticipated to register a considerable CAGR during the forecast period due to the growing use of a variety of tableware with unique designs, contemporary, and organic porcelain tableware in restaurants can boost the market growth.
Read 223 Pages Research Report with Detailed TOC on "Porcelain Tableware Market by Type (Cups, Plates & Bowls, Cutlery, and Glasses), Material (Feldspar, Kaolin, and Quartz), Price Range (Low, Medium, and High), End-use (Residential, Commercial), Distribution Channel (Online, Offline), and Region (North America , Europe , Asia Pacific , Latin America , and Middle East & Africa ) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"
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