Glass Tableware Market is Booming across the Globe, Explores the Latest Report
According to a new market report published by Transparency Market Research titled “Glass Tableware Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2028,” the global glass tableware market is expected to reach US$ 10.8 Bn by 2027, expanding at a CAGR of 2.9% from 2019 to 2027. Asia Pacific held the highest market share in the glass tableware market in 2027.
The Glass Tableware Market report provides an analysis of
the global glass tableware market for the period 2017 – 2026,
wherein 2018 is the base year and 2019 to 2027 is
the forecast period. Data for 2017 has been included as historical
information.
The report covers all the prevalent trends and technologies playing a major role in the growth of the market over the forecast period. It also highlights various drivers, restraints, and opportunities expected to influence the market growth during the said period.
Growth of the hotel & catering industry is projected to
drive demand for glass tableware in the near future. Increase in investments in
the hotel & catering industry in emerging countries such as India and China
has fueled the growth of the glass tableware industry. Moreover, glass
tableware products are widely used in the hotel & catering industry.
Furthermore, rise in disposable income of consumers has resulted in increase in
expenditure on travel and tourism. This in turn boosts the growth of the hotel
industry.
The tableware industry is set for an explosion and is ready
to witness many innovations in terms of design and material, driven by changes
in fashion, lifestyle, economic conditions, and demographic factors. Tableware
manufacturers are experimenting with different shapes, colors, materials, and
textures to attract consumers. There is an increased demand for visually
appealing as well as functional tableware.
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Beverageware segment includes tea pots, coffee or tea jugs,
pitchers, and coffee brewers. Unlike plastic products, glass beverageware
contain no harmful chemicals and are safer to use. Consumers are shifting from
plastic products to glass beverageware which is contributing to the growth of
this segment
Transition in the lifestyle and rise in disposable income is
responsible for the growth of this segment. With rapid urbanization, purchasing
behavior of consumers and adoption of trendy lifestyles are leading to the high
demand for tableware products. The tableware segment is classified into glass,
cups, and mugs. The others segment is divided into cookpots, roasters,
casseroles, bakeware, bowls, food warmers, and measuring jugs.
North America and Europe are anticipated to account for
major market share due to sophisticated lifestyles and high spending rate.
Increase in demand for glass tableware products in Europe and North America
will result in the increased production of these products. Also, these regions
will remain the prime markets for tableware products due to vast distribution
networks.
Asia Pacific accounted for around 35% of
the global glass tableware market in 2018 and is anticipated
to continue its dominance over the forecast timeline. Europe has the largest
middle class population in the world, followed by Asia Pacific and North
America. The middle class population in Asia Pacific is expected to rise due to
economic development in this region. The consumption rate of glass tableware
products is higher in EMEA and Asia Pacific as compared to other regions.
Innovative products and technological advancements are
constantly being introduced to the market. Global market is fragmented in
nature. Companies are developing innovative products to retain their market
share. Some of the industry participants of the global glass tableware market
are Libbey Inc., ARC International S.A., Anchor Hocking LLC, Sisecam
Group, Bormioli Rocco SpA, Wuerttembergische Metallwarenfabrik AG, Lenox
Corporation, World Kitchen LLC, LaOpala R.G. Ltd. Borosil Glass Works Ltd.,
Kavalier Glass A.S., and Termisil Huta Szkla Wolomin S.A.
Market Segmentation
Global Glass Tableware Market, by Product
- Beverageware
- Tea
Pots
- Coffee/
Tea Jugs
- Pitchers
- Coffee
Brewers
- Tableware
- Glass
- Cups
- Mugs
- Baby
Bottles
- Others
- Cookpots
- Roasters
- Casseroles
- Bakeware
- Bowl
- Food
Warmer
- Measuring
Jugs
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