According to Global Glass Tableware Market Report, By Product (Dinnerware, Flatware, and Beverage ware), and By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) as published by Coherent Market Insights.
Global glass tableware market was valued at US$ 11.76 Billion in 2022, and is estimated to exhibit a CAGR of 7.6% during the forecast period (2023 to 2030). Glass tableware include dishes or dishware that are used to setting a table and serving food. Glass tableware consists of glassware, cutlery, serving dishes, and other items. Moreover, these are also used for decorative purposes. Glass tableware is available in different shapes, materials, sizes, and textures. Teapots, pitchers, coffee/tea jugs, and coffee brewers are glass beverage-ware products.
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https://www.coherentmarketinsights.com/market-insight/glass-tableware-market-4751
Browse 50 market data tables* and 45 figures* on “Global Glass Tableware Market” - Global Forecast to 2030.
Key Trends and Analysis of the Global Glass Tableware Market:
- Growing trend of visiting pubs and cafes due to increasing westernization is expected to drive the market growth, and this leads to I increase in the number of pubs and cafes. Increasing number of events and corporates parties coupled with the rising women workforce is also expected to drive the market growth. All these factors are expected to drive the market growth of the glass tableware over the forecast period.
- Nuclearization is a growing trend around the globe. The increase in households exceeds the increase in population growth this indicates an increasing nuclearization trend. Emerging branded retails chains and growth in the entertainment along with increasing malls & multiplexes across developing regions is again expected to drive the market growth. Increasing spending on eating out among the younger generation both in professional and personal fronts is again projected to drive the market growth of glass tableware.
- Growing demand for luxury casual products due to growing middle-class population is projected to offer lucrative growth opportunities in the near future. Growing young generation along with increasing purchasing power that encourages them to buy luxury casual products are again expected to propel the market growth of the glass tableware. Moreover, change in consumers purchasing behavior is further boosting the sale of luxury casual products, and this is expected to drive the market growth.
- Challenges associated with developing the quality product are expected to inhibit the market growth. Glass tableware is failing to maintain the quality of the products in terms of durability and composition. Moreover, producers are facing problems in flaw identification. All these factors are projected to hamper the market growth of the glass tableware in the near future.
Key Takeaways
- Global glass tableware market was valued at US$ 11.76 Billion in 2022, and is estimated to reach a value of US$ 21.07 Billion by 2030 at a CAGR of 7.6% between 2023 and 2030
- Beverage Ware segment is fastest growing over the forecast period
Global Glass Tableware Market: Key Players
Major players operating in the global glass tableware market include Sisecam Group, Bormioli Rocco SpA, Wuerttembergische Metallwarenfabrik AG (WMF), Libbey, Inc., ARC International, Anchor Hocking, and Lenox Corporation
Global Glass Tableware Market: Recent Developments
- In October 2020, the new investment at Sisecam Group's flat glass production facility in Ankara's Polatl district seeks to strengthen the company's manufacturing capacity in order to fulfil rising domestic demand. A new furnace with an annual capacity of 240,000 tons was constructed with a US$ 130 million investment.
- In September 2021, Sisecam Group, a Turkey-based glass company, invested more than TL 4 billion (US$ 470 million) in two new float lines for the manufacturing of architectural and automotive glass
- In July 2021, Snam, RINA, Bormioli Luigi, Bormioli Rocco, STARA GLASS, Università degli Studi di Genova, Stazione Sperimentale del Vetro, IFRF Italia, SGRPRO, and RJC SOFT are the companies that have established a working collaboration to reduce greenhouse gas emissions in the glass industry using hydrogen.
Global Glass Tableware Market - Impact of Coronavirus (COVID-19) Pandemic
- The COVID-19 outbreak had an adverse impact on various industries around the globe. Due to the strict rules and regulations by government to curb the spread of the infection, companies are looking to function remotely. Moreover, various companies are looking to implement strict measures to operate at minimum risks. Various companies had shutdowns their manufacturing units which had an adverse impact on glass tableware market.
