Global Commercial Tableware Service Market was valued at USD 7 billion in 2022 and is expected to grow at a significant rate of around 5% during the forecast period.
The commercial tableware market is widely used for serving ware with significant development in the food service and hospitality industry significantly driving the demand for tableware services in the commercial sector. As a result of rising disposable incomes, changing lifestyles, and growing social trends encouraging social dining, demand for commercial tableware services has increased. However, the sector is expected to grow at the fastest rate during the forecast period.
Increasing Popularity of Online Retailing for Disposable Tableware:
The hospitality industry procures disposable tableware directly from the manufacturing company. The direct procurement of disposable tableware is a familiar way to do business in the disposable tableware market. Manufacturing companies offer heavy discounts on disposable tableware, thus increasing their sales among buyers. Due to the pandemic, the business partially shifted from traditional to online. Currently, manufacturing companies are creating their website for sales or entering partnerships with e-commerce giants to sell their products. The high penetration of e-commerce is likely to drive the disposable tableware market in the future.
The Adoption of Green Disposable Tableware
The growing preferences of end users for light and eco-friendly disposable products are encouraging manufacturers to develop their operations and expand their existing facilities to attract widespread food consumers on the move. The focus is especially on eco-friendly and biodegradable products. Disposable products offer good hygiene and convenience in carrying the food, offering the manufacturers an opportunity to expand the sector. The benefits include simple storage, lightweight, biodegradable, convenient, low-cost usage, and improved hygiene. Such factors are driving the growth of the disposable tableware market worldwide.
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Rise in expansion of hospitality:
The rising trend of food away from home is creating a lucrative growth opportunity for restaurants and eating joints to propel in the market. The rising number of eating places is developing the need for fancy and trendy tableware for creating a good ambiance and servicing to the customers. In addition, growth in the restaurant industry, owing to the consumers’ desire for convenience, socialization, and high-quality food & service has influenced restaurant owners to invest in modern and quality cooking appliances. According to National Restaurant Association, U.S., there are over 1 million restaurant locations in the country in 2022.
The increasing influx of people to urban areas and varied preferences for different types of food has led to the growing number of cafes, specialty coffee shops, and quick-service restaurants (QSRs). Moreover, rising purchasing power parity and the trend of having food outside the home in emerging countries such as India, China, Indonesia, and Japan are expected to drive the demand for tableware over the forecast period.
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Conclusion
The commercial tableware market is widely used for serving ware with significant development in the food service and hospitality industry significantly driving the demand for tableware services in the commercial sector. As a result of rising disposable incomes, changing lifestyles, and growing social trends encouraging social dining, demand for commercial tableware services has increased. The growing preferences of end users for light and eco-friendly disposable products are encouraging manufacturers to develop their operations and expand their existing facilities to attract widespread food consumers on the move. Moreover, rising purchasing power parity and the trend of having food outside the home in emerging countries such as India, China, Indonesia, and Japan are expected to drive the demand for tableware over the forecast period.
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