The market for glass tableware is predicted to increase at a robust rate due to the population boom in urban areas. The world's urban population has increased significantly since 1950, from 751 million to 4.2 billion in 2018, according to the United Nations. Urban population growth is fueled by both an overall rise in population and a rise in the proportion of people living in cities. By 2050, it is anticipated that these two forces would have increased urbanisation by 2.5 billion. The hospitality sector's rapid expansion is one of the main drivers of the glass tableware market's expansion. The National Restaurant Association projects that the restaurant business will generate $899 billion in sales in the United States. As glass tableware is frequently utilised in the hotel and catering industries, increased investment in restaurants by multinational brands in developing nations like India and China is also anticipated to support market expansion for this product. It is anticipated that creating unique and attractive dinnerware will soon open up new business prospects. The demand for beautiful dinnerware is being driven by customers' rising living standards and rising disposable income.
Coherent Market Insights estimates that by the end of 2028, the Global Glass Tableware Market is anticipated to generate revenues of around US$ 16,933.87 million, rising at a CAGR of 6.10% from 2021 to 2028.
Major Players in the Glass Tableware Industry:
1. Sisecam Group
The company was started in 1935 and is based in Istanbul, Turkey. Işecam engages in the architectural, energy, and home appliance markets of flat glass. Işecam is the only company in the world that produces glass in all four major segments: flat glass, glassware, glass packaging, and glass fibre.
2. Bormioli Rocco SpA
The company was founded in 1825 and is based in Fidenza, Italy. Glass items are manufactured and sold by Bormioli Rocco S.P.A. The company sells glass jars, bottles, decanters, tumblers, dinnerware and stemware, cup sets, and food storage items. With three manufacturing facilities, Bormioli Rocco is a well-known glass company in Italy and a major participant internationally.
3. Wuerttembergische Metallwarenfabrik AG (WMF)
The company was founded in 1853 and is located in Geislingen, Germany. WMF AG is a firm that makes tableware. The business manufactures commercial coffee makers, cookware, cooking tools, and dinnerware made of metal. The company is a leader in producing high-quality solid silver and commercial coffee machines around the world.
4. Libbey, Inc.,
The company was started in 1818 and is located in Toledo, Ohio, United States. Glass dinnerware is created, produced, and sold by Libbey Inc. and is utilised by foodservice, industrial, high-end, and retail customers all over the world. Additionally, the company offers metal cutlery and ceramic dinnerware to American foodservice customers. Additionally, in the US and Canada, Libbey is the sole distributor of Vitrocrisa glass tableware products. Libbey successfully sold its European operations in June 2022.
5. ARC International
The company was started in 1825 and is based in Arques, France. The business specialises in creating and designing glass tableware. As a consequence of the partial operations agreement negotiated at the end of 2020, the management of Arc announced the hiring of 225 people on open-ended (CDI) contracts at the beginning of February 2021.
6. Anchor Hocking
The firm was started in 1905 and is located in Lancaster, Ohio, United States. The company sells a variety of glass products, including candle holders, serving pieces, ovenware, storage items, and lighting fixtures. Lenox Corporation purchased Oneida Consumer LLC in June 2021, along with the Oneida brand. The Oneida Group's name was changed to Anchor Hocking Holdings, Inc. in July 2021 to better reflect its ongoing operations.
7. Lenox Corporation
The business was started in 1889 and is located in Bristol, Pennsylvania, United States. The company sells figurines, picture frames, pitchers, toys, culinary tools, lighting, and tabletop accessories in addition to crystal and home decor items. Lenox purchased its former rival Oneida in June 2021. The private equity firm Centre Lane Partners purchased Lenox in October 2020.
Definition: Glass tableware is an item that is used to serve food for meals and other occasions as part of the table arrangement. They are made from many materials, including glass, ceramics, and steel. Dinnerware, drinking ware and cutlery are the three main categories for glass tableware products.
