Newark, Aug. 05, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global glassware market is expected to grow from USD 4,862.82 Million in 2023 to USD 5,522.36 Million by 2033, at a CAGR of 1.28% during the forecast period 2024-2033.
This growth is attributed to the growing demand for sectors such as households, café& bars and hotels & restaurants. Moreover, there is a growing demand for tableware. The glassware sector is growing as glass is non-porous in nature, and hence, it is less prone to bacteria and other microbes.
Get a Free Sample Research Report: https://www.thebrainyinsights.com/enquiry/sample-request/14468
Competitive Strategy
To enhance their market position in the global Glassware market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In April 2024: Sisecam has invested around USD 174 million and consolidated its production capacity for glassware and glass packaging in Eskisehir, reaching around 1 million tonnes. This significant capacity has made the location the world's largest glass production. It will eventually help the organization gain a share in the Glassware market.
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 1.28% |
| 2033 Value Projection | USD 5,522.36 Million |
| Market Size in 2023 | USD 4,862.82 Million |
| Historical Data | 2020-2022 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Product, Price and End-User |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Glassware Market Growth Drivers | High demand in the hospitality sector |
Browse Detailed Summary of Research Report with TOC: https://www.thebrainyinsights.com/report/glassware-market-14468
Market Growth & Trends
The growing investment in the hospitality sector, like restaurants, hotels and bars, is fueling the need for premium glassware sets to enhance the experience of customers. It has been observed that guests are generally attracted towards visually appealing Instagram photos and beautiful glass cups, which can become a unique selling point for the hospitality sector. Also, there has been a change in consumer lifestyle; hence, they prefer at-home entertaining and culinary experiences, and hence, the demand for the glassware sector has increased. It also shows that people now like sophisticated presentations and housekeeping. Moreover, advancements in production technology in the glassware sector also propel the market's growth as they help make complex and durable designs. The glassware broadly used for daily household use is drinking glass, serving bowls, dinnerware, and storage containers, among others. Consumers are looking for glassware that is both functional and aesthetic. It has options which range from traditional designs to contemporary styles. The glassware sector is also growing due to growing demand from sectors such as pharmaceuticals, chemicals and food & beverage among others. Daily household application of glassware includes dinnerware, drinking glasses, serving bowls and storage containers. Glassware products are designed for its application in the kitchen like cookware, utensils and bakeware. It has become a crucial part of modern-day kitchens. For instance, glass cookware provides many advantages like heat resistance, ease of cleaning and non-reactivity. Also, the hospitality and food service sector is fueling the demand for commercial glassware, such as glassware for bars, hotels, restaurants, and catering businesses. Products in glassware for serving beverages, desserts, cocktails and snacks are driving its growing use. Glassware demand is growing as it is non-porous and less likely to harbour bacteria and other microbes, making it more hygienic than plastic. Hence, health-conscious consumers broadly prefer glass tableware to plastic. It has been observed that urban consumers generally prefer stylish and modern designs. Glassware products are common globally in offices, households, hospitals, educational institutions, restaurants, and hotels. All these factors are driving the Glassware market.
Key Findings
• In 2023, the glass jars segment dominated the market with the largest market share of 17.12% and market revenue of USD 832.51 Million.
The product segment is divided into tea cup, coffee mug, wine glass, beer mug, pitchers and glass jars and others. In 2023, the glass jars segment dominated the market with the largest market share of 17.12% and market revenue of USD 832.51 Million. This significant market share is attributed to its broad use in storing food.
• In 2023, the medium segment dominated the market with the largest market share of 41.67% and market revenue of USD 2,026.34 Million.
The price point segment is divided into premium, medium and economy. In 2023, the medium segment dominated the market with the largest market share of 41.67% and market revenue of USD 2,026.34 Million. This market share is attributed to references for medium-price range glassware products such as glass jars and glasses for water, which are broadly preferred in households as well as in the hospitality sector, such as restaurants and hotels.
• In 2023, the hotel & restaurants segment dominated the market with the largest market share of 30.41% and market revenue of USD 1,478.78 Million.
The end user segment is divided into household, hotel & restaurants, café & bars and others. In 2023, the hotel & restaurants segment dominated the market with the largest market share of 30.41% and market revenue of USD 1,478.78 Million. This market share is attributed to the broad use of glassware products in hotels and restaurants, among others, as they provide functionality along with their aesthetic appeal.
• In 2023, the offline segment dominated the market with the largest market share of 68.89% and market revenue of USD 3,350 Million.
The distribution channel segment is divided into offline and online. In 2023, the offline segment dominated the market with the largest market share of 68.89% and market revenue of USD 3,350 Million. These glassware products are broadly found in speciality stores.
Inquiry Before Buying: https://www.thebrainyinsights.com/enquiry/buying-inquiry/14468
Regional Segment Analysis of the Glassware Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The Europe region occurred as the largest market for the global Glassware industry, with a market share of 34.56% and a market value of around USD 1,680.59 Million in 2023. This market share is attributed to expanding urbanization and growing demand for regional glassware, particularly wine and other alcoholic beverages. The population in the region is also expanding broadly due to the migration of people from other countries, fuelling the market's growth due to the preference for different types of glassware products.
Key players operating in the global Glassware market are:
• Sisecam
• Borosil Limited
• Garbo Glassware
• Villeroy & Boch AG
• Shandong Huapeng Glass Co., Ltd.
• Arc Online
• Lifetime Brands, Inc
• Steelite International
• Anchor Hocking Group, Inc
• Degrenne
• Lenox Corporation
• Taiwan Glass Industry Corporation
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global Glassware market based on below mentioned segments:
Global Glassware Market by Product:
• Tea Cup
• Coffee Mug
• Wine Glass
• Beer Mug
• Pitchers
• Glass Jars
• Others
Global Glassware Market by Price Point
• Premium
• Medium
• Economy
Global Glassware Market by End User
• Household
• Hotel & Restaurants
• Café & Bars
• Others
Global Glassware Market by Distribution Channel
• Offline
• Online
Ask for Customization: https://www.thebrainyinsights.com/enquiry/request-customization/14468
About the report:
The global Glassware market is analysed based on value (USD Million). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: www.thebrainyinsights.com
