Market Overview:
Glass tableware products including glass cups, plates, bowls, and others are widely used in dining, serving food items. Glass tableware offers advantages like durability, resilience to bacteria and chemicals, transparent nature allowing consumers to view food items. With growing commercial and household applications, demand for aesthetically appealing and hygienic glass tableware has been increasing over the years.
Market key trends:
One of the key trends driving the glass tableware market growth is the increasing adoption of uniquely designed products by cafes, restaurants and hotels to enhance visual appeal and branding. Glassware manufacturers are focusing on premiumization by introducing hand-blown, etched and engraved glass tableware products. They have enhanced product portfolios with personalized engraving and customization options to cater to rising consumer demand for customized glass tableware solutions.
Segment Analysis
The global glass tableware market is segmented by product type into drinking glasses, plates, bowls, and others. Among these, the drinking glasses segment dominated the market in 2023 and is expected to continue its dominance over the forecast period. Drinking glasses accounted for the largest market share of 30% in 2023 owing to the high demand for different designs and varieties of drinking glasses from the residential and commercial sectors.
The global Glass Tableware Market Demand is estimated to be valued at US$ 11.76 Bn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Key Takeaways
The global glass tableware market is expected to witness high growth, exhibiting a CAGR of 7.6% over the forecast period 2023 to 2030, due to increasing demand from the residential sector. The residential sector is expected to grow owing to the rising disposable income of consumers and increased spending on home décor.
Regional Analysis
Regionally, North America dominated the global glass tableware market in 2023 with a market share of 25%, followed by Europe. The Asia Pacific region is expected to witness the highest growth rate over the forecast period. This rapid growth can be attributed to the growing hospitality sector and increasing middle-class population in countries such as China and India.
Key Players
Key players operating in the glass tableware market are Sisecam Group, Bormioli Rocco SpA, Wuerttembergische Metallwarenfabrik AG (WMF), Libbey, Inc., ARC International, Anchor Hocking, and Lenox Corporation. Sisecam Group is one of the leading players in the market, known for offering a wide variety of glass tableware products.
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