According to the study, the global heat-resistant ceramic tableware market surpassed US$ 25.32Bn in 2022 and is estimated to grow at 5.83% CAGR through the forecast period.
The demand for heat-resistant ceramic tableware is expected to reflect steady growth through the forecast period (2022 - 2030), despite a moderate slump from the covid-19 pandemic, states a new study conducted by Future Market Insights (FMI). Improvements in terms of raw materials and efforts by manufacturers towards product differentiation through aesthetic factors are likely to be important factors driving the market, even as consumers seek alternatives to plastic tableware.
The market for heat-resistant ceramic tableware has benefited from advantages of resistance to chemicals and ease of cleaning, in comparison to other premium-priced tableware materials.
Also, heat-resistance treatments to ceramic products has improved adoption rates owing to higher longevity and wider scope of applications. The market has been witnessing increased penetration in developing economies in Asia and MEA regions, supported by low-cost production.
Although, premium range heat-resistant ceramic tableware provides better physical and chemical characteristics, economy and mid-range products witness higher adoption, owing to the substantial price differences between these products.
In addition, there is significant increase in opportunities and market potential with these trends with impetus being provided by demand for hand crafted, artisanal end products, providing new avenues for manufacturers to explore.
FMI’s report gives readers a detailed overview of the market, encompassing key market dynamics.
Key Takeaways
“Increased levels of spending on kitchen renovations, and residential units in addition to the popularity of modular kitchens and dining areas with the rise in global living standards, are key factors driving demand for heat-resistant ceramic tableware in casual and formal dining settings,” said a lead analyst at FMI.
Covid-19 Impact on Heat-Resistant Ceramic Tableware Market
The rapid spread of the coronavirus pandemic has resulted in a short-term slump in demand for heat-resistant ceramic tableware. This drop in sales can be attributed to the lockdown restrictions on the operations of the food service industry, and trade restrictions on supply chains for essential raw materials.
Furthermore, the market is also adversely affected by changes in consumer spending patterns, with a focus on essential commodities, which has hurt sales of heat-resistant ceramic tableware, even in residential settings.
On the other hand, online channels of sales have gone up with consumers seeking ecommerce options for wider product options, discounts, and home delivery, which will aid manufacturers to minimize losses during the crisis period. Recovery is likely to be gradual towards 2021, owing to uncertainties over the duration of the pandemic.
Who is Winning?
Some of the leading market players studied in the heat-resistant ceramic tableware market report include but are not limited to Villeroy & Boch AG, Kahlla Porzellan, Chuchill China Plc, Roesnthal GmbH, Seltmann Weiden Group, Meissen GmbH, Fiskars Group, WMF Group, The Oneida Group, Noritake Company Ltd., Narumi Corporation, Homer Laughlin China Company, and Lenox Corporation.