Grand View Research, Inc. – Market Research And Consulting.

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. 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.

Product Insights
Bowls and platters accounted for a share of more than 30.0% in the global market revenue in 2018 as they are the most common variants of serveware in households across the globe, irrespective of the cuisine. These are available in a variety of materials and are chosen depending on the food to be served. Chafing dishes are expected to be the fastest growing segment from 2019 to 2025, registering a CAGR of 4.6%. A variety of chafers are available in the market: chafer girdles, coffee chafer urns, drop in chafers, and marmite chafers. These can be fueled by electricity, wicks, gels, LPG, and various other mediums. Their rapid adoption for residential application to host small gatherings has been propelling the segment. Chafing dishes meant for home usage are smaller in size, easy to clean and maintain, and require less electricity.

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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.

Application Insights
The commercial segment accounted for a share of more than 60.0% in the global serveware market in 2018. Initially, serveware was mostly used in hotels, restaurants, events and gatherings, railway pantry coaches, airlines, and other public dining places. The purpose of the same has been to feed a large group of people and also offer an appetizing view of the food being served. Chafing dishes are commonly used at such meals, which help keep the food warm throughout. Boards and trays are also increasingly useful for serving appetizers to a large crowd. The commercial application segment will continue to dominate the market over the forecast period.

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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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