01 Nov 2018
Posted in Press Release
Tableware market set to rise 10.3% by 2023 as appetite for tea, coffee and gin grows, says GlobalData
Growth of the tableware market in the next five years will be driven by drinking items such as glasses, mugs, tea and coffee-making accessories, according to GlobalData, a leading data and analytics company.
GlobalData’s ‘Tableware UK – 2018’ report reveals that the size of the drinking market will grow by 11.5%, equating to an additional £64m in additional sales in the next five years. The need to replace such low-cost and easily breakable items guarantees frequent purchases, but recent growth can be attributed to the trend for drinking artisanal teas, coffees and small-batch gins.
Hannah Thomson, Retail Analyst at GlobalData says: “Drinking products are closely linked with buoyant social trends which account for their strong performance. New products related to tea and coffee drinking, such as specialty teas, and the increase in coffee quality at home, have contributed to this growth, while the ongoing trends for gin and prosecco have boosted the market for products complementing those drinks, such as the distinctive ‘balloon’ gin glass.”
GlobalData’s report also reveals the shift to in the nation’s habits to casual dining – only 30.3% of consumers have a separate dining room*, and as new-build homes favour cheaper and more flexible open-plan designs, the proportion of the population with a separate dining room in their home will decrease further.
Thomson continues: “The fact that fewer people have separate dining rooms in their home is both a cause and an effect of the decline in formal dining at home. While consumers still see mealtimes as social occasions, those who hosted a formal dinner party in the last year were outnumbered by more than 2:1 by those arranging a casual dinner at home. The proportion of consumers purchasing items such as serving plates, serving bowls and serving cutlery in the past year is now less than 5.0%, as consumers choose oven-to-table serve ware over more formal traditional tableware.”
‘*’ The survey data is taken from GlobalData Retail’s 2018 consumer survey of 2,000 UK shoppers.
– Information based on GlobalData’s report: ‘Tableware UK – 2018’
– The Tableware market comprises drinking, cutlery, crockery, linens & mats, accessories and sets (of cutlery, crockery and glasses)
– Comments provided by Hannah Thomson, Retail Analyst at GlobalData
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