The global glassware market is experiencing steady growth due to increasing demand from various industries such as food and beverage, hospitality, and home decor. Glassware offers several advantages, including safety, recyclability, and aesthetic appeal. The market is driven by factors such as rising consumer awareness of eco-friendly packaging, growing preference for sustainable materials, and the need for visually appealing and functional glassware products.
According to Data Bridge Market Research, Glassware Market is expected to reach the value of USD 2,758.17 million by 2030, at a CAGR of 13.7% during the forecast period.
"Growing demand from the food and beverage industry surge market demand"
The food and beverage industry drives the demand for glassware due to its suitability for packaging food and beverages. Glass containers are preferred for their safety, as they do not leach chemicals into the products. Moreover, glass is recyclable and promotes sustainability, aligning with the increasing consumer preference for eco-friendly packaging options. These factors contribute to the growth of the glassware market as the food and beverage industry continues to expand and seek reliable and sustainable packaging solutions.
What restraints the growth of the glassware market?
"Competition from alternative materials can impede the market growth”
Glassware faces competition from alternative materials like plastic, stainless steel, and ceramics due to their specific advantages. Plastic is often chosen for its lower cost and lightweight nature, making it convenient for various applications. Stainless steel offers durability and longevity, while ceramics provide an aesthetic appeal. The availability of these alternative materials, combined with their specific benefits, can sway consumers and businesses away from glassware, creating a competitive landscape for the market.
Segmentation: Global Glassware Market
The glassware market is segmented on the basis of material, style, distribution channel, price range and end use.
- On the basis of material, the glassware market is segmented into soda lime glass, lead glass, heat resistant and others.
- On the basis of style, the glassware market is segmented into stemless glass, stemware, everyday usage, and others.
- On the basis of distribution channel, the glassware market is segmented into b2b, specialized stores, supermarkets/hypermarkets, e-commerce, and others.
- On the basis of price range, the glassware market is segmented into medium, premium, and economy.
- On the basis of end-use, the glassware market is segmented into hotels and restaurants, bars and café, household, corporate canteens, and others.
Regional Insights: Asia-Pacific Dominates the Global Glassware Market
Asia-Pacific holds a dominant position in the global glassware market, driven by factors such as rapid urbanization, increasing disposable income, and a growing number of restaurants and bars in the region. The rising middle-class population in countries like China and India, coupled with their changing lifestyles and preferences, is boosting the demand for glassware products. Additionally, the region's expanding hospitality and tourism sectors contribute to the growing demand for glassware, making Asia-Pacific the fastest-growing market for glassware worldwide.
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Recent Developments in Global Glassware Market
- In 2020, In the upcoming weeks, Libbey Inc. expects to finish its court-supervised restructuring and emerge with a stronger balance sheet. The company also confirmed the existence of a plan of reorganization. In order to succeed in the current business operating environment, the company made this announcement.
- In 2021, Oneida Consumer LLC's line of tabletop goods, including flatware, dinnerware, and cutlery, was acquired by Lenox Corporation. The partnership was started in order to market a top portfolio of brands and cutting-edge products with unmatched customer awareness across a variety of retail channels.
The Prominent Key Players Operating in the Global Glassware Market Include:
- Hrastnik1860 (Slovenia)
- Oneida (U.S.)
- Noritake China (Japan)
- Ocean Glass Public Company Limited (Thailand)
- Lenox Corporation (U.S.)
- Treo.in (India)
- Libbey Inc (U.S.)
- Fiskars Group (Finland)
- WMF (A Subsidiary of Groupe SEB) (Germany)
- Lifetime Brands, Inc (U.S.)
- Villeroy & Boch (Germany)
- Bormioli Rocco S.p.A. (Italy)
- Wonderchef Home Appliances Pvt. Ltd. (India)
- The Zrike Company, Inc (U.S.)
- Shandong Hikingpac Co., Ltd. (China)
- Addresshome (India)
- Stölzle Lausitz GmbH ) (Germany)
- Eagle Glass Deco (P.) Ltd. (India)
- Degrenne (France)
- Cello World (India)
- MYBOROSIL (India)
- Jiangsu Rongtai Glass Products Co., Ltd. (China)
- Cumbria Crystal (U.K.)
- Garbo Glassware (China)
Above are the key players covered in the report, to know about more and exhaustive list of Global Glassware Market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Glassware 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.
