The global glass tableware market experiences buoyant growth as a staple product for dining and table settings. A surge in offline and online sales channels has streamlined distribution, benefiting manufacturers. Increasing demand from the food service sector emerges as a key driver, propelled by the necessity for reliable and stylish tableware. Additionally, growing popularity among households further fuels market expansion. With factors such as ease of distribution, rising food service demand, and household preference, the glass tableware market exhibits steady growth prospects during the forecast period.
According to Data Bridge Market Research, the Global Glass Tableware Market was valued at USD 9.62 billion in 2021 and is expected to reach USD 13.37 billion by 2029, registering a CAGR of 4.20 % during the forecast period of 2022 to 2029.
“Rising demand attributed to the thermal-resistant property of glass drive the market growth”
The global glass tableware market experiences a significant driver in the form of rising demand attributed to the thermal-resistant property of glass. Glass tableware's inherent ability to withstand high temperatures without compromising its structural integrity makes it a preferred choice for serving hot and cold dishes such as. Consumers value this feature for its safety and versatility, driving the adoption of glass tableware across various dining occasions. The thermal resistance of glass tableware enhances its usability and longevity, aligning with consumers' practicality and safety concerns, and contributing to the robust growth of the market.
What restraints the growth of the global glass tableware market?
“Prevalent usage of disposable plates in numerous small restaurants”
The global glass tableware market faces a restraint due to the prevalent usage of disposable plates in numerous small restaurants. The convenience and cost-effectiveness of disposable options, particularly in smaller dining establishments, deter the demand for traditional glass tableware. These alternatives cater to fast-paced service and minimize dishwashing efforts. As a result, the demand for glass tableware, known for its elegance and durability, encounters challenges in capturing market share, especially in segments prioritizing practicality and efficiency over aesthetics and reusability.
Segmentation: Global Glass Tableware Market
The glass tableware market is segmented on the basis of products, distribution channel, and end-user.
- On the basis of product, the glass tableware market is segmented into dinnerware, Drinkware, and others.
- On the basis of distribution channel, the glass tableware market is segmented into offline, and online.
- On the basis of end-user, the glass tableware market is segmented into household, and commercial.
Regional Insights: Asia-Pacific dominates the Global Glass Tableware Market
Asia-Pacific takes the lead in the glass tableware market, emerging as the revenue leader during the forecast period. The region's ascendancy is driven by escalating demand for glass tableware. Asia-Pacific's significant presence in the market is propelled by the rising adoption of luxury tableware and evolving lifestyles, reflecting a shift towards elegance and aesthetics in dining experiences.
In the projected period, North America emerges as the fastest-developing region in the glass tableware market. This growth is fueled by the region's robust purchasing power, reflecting the affluence of its consumer base. As consumers seek to enhance their dining experiences, North America's rising disposable income contributes to increased demand for quality glass tableware, positioning the region as a pivotal player in the market's rapid expansion.
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Recent Developments in the Global Glass Tableware Market
- In June 2021, Lenox Corporation made a strategic move by acquiring Oneida Consumer LLC, a prominent manufacturer of giftware, tabletop, and home entertaining products. This acquisition encompasses all existing Oneida Consumer LLC tabletop offerings, ranging from tableware to flatware and cutlery, as part of the deal. The acquisition bolsters Lenox Corporation's portfolio and strengthens its position in the industry.
- In January 2021, Lenox Corporation expanded its reach by assimilating Hampton Forge, a reputable cutlery manufacturer and flatware brand with a three-decade legacy. The acquisition encompasses well-known brands including Tomodachi by Hampton Forge, Skandia, Hampton Forge Portfolio, and Argent Orfèvres, along with their trademark branding. This strategic integration further diversifies Lenox Corporation's product offerings and aligns with its commitment to excellence.
The Prominent Key Players Operating in the Global Glass Tableware Market Include:
- Arc Group (France)
- Libbey, Inc. (U.S.)
- Sisecam Glassware (Turkey)
- Bormioli Rocco S.p.A. (Italy)
- Tiroler Glashütte GmbH (Austria)
- The Oneida (U.S.)
- The Boelter Companies (U.S.)
- Waterford (Ireland)
- Anhui Deli daily Glass Co., Ltd. (China)
- Kavalierglass AS (Europe)
- LaOpala RG Limited (India)
- Lenox Corporation (U.S.)
- Libbey Glass Inc. (U.S.)
- Ocean Glass Public Company Limited (Thailand)
- Anchor Hocking LLC (U.S.)
- World Kitchen LLC (U.S.)
- WMF (Germany)
- Zhejiang Chengtai Industrial Co., Ltd. (China)
- Borosil (India)
Above are the key players covered in the report, to know about more and exhaustive list of global glass tableware market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Glass Tableware Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
