Glass tableware comprises of various glass products such as glass cups, drinking glasses, glass plates, bowls and others that are used for serving food and beverages. Glass tableware are highly preferred by restaurants, cafes and hotels owing to their durability, transparency and ability to retain temperature of food and beverages for longer duration. The foodservice sector has been witnessing significant growth over the years supported by rising number of restaurants and hotels and changing consumer food consumption patterns. This has augmented the demand for glass tableware from the foodservice industry.
The global glass tableware market is estimated to be valued at US$ 13.55 Bn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Glass Tableware Market Size are Brooks Automation Inc., Entegris Inc., Tokyo Electron Limited, Lam Research Corporation, ASML Holding N.V., Applied Materials Inc., Hitachi High-Tech Corporation, AMAT Applied Materials AG, KLA Corporation, Mattson Technology Inc., Tokyo Seimitsu Co. Ltd., Advantest Corporation, Ultratech, MKS Instruments Inc., Novellus Systems. These players are focusing on new product development and mergers & acquisitions to gain higher share in the market.
The global glass tableware market is expected to witness lucrative opportunities owing to rising disposable income of individuals and growth of online retail sector. Online platforms provide wide range of glass tableware products at competitive prices which is encouraging consumers to purchase glass tableware products.
The glass tableware manufacturers are expanding their production facilities and distribution network globally especially in developing regions of Asia Pacific and Latin America. These regions are anticipated to continue dominating the market owing to increasing westernization and changing lifestyle.
Market drivers - Rising number of restaurants, cafes and hotels globally due to increasing food consumption outside home is a major market driver. Growth in number of food joints is supplementing the demand for glass tableware products.
Market restrain - High cost of glass tableware products compared to plastic or ceramic substitutes can limit its demand from price sensitive consumers. Glass being fragile material any damage during transportation or usage leads to product loss which adds to overall cost for manufacturers and retailers.
Segment Analysis
The glass tableware market can be segmented into glass plates, glass bowls, glass tumblers, glass wine glasses and others. The glass plates segment currently dominates the market as they are used commonly in households and commercial spaces like restaurants. It is expected to remain one of the dominating sub segments throughout the forecast period due to steady demand for glass plates from various end use industries.
Global Analysis
Regionally, North America holds the highest share in the glass tableware market currently. This is attributed to growing number of restaurants and commercial spaces in the region that purchase glass tableware in bulk. Asia Pacific is anticipated to witness the fastest growth during the forecast period. Rising disposable income, increasing number of HNIs and growing hospitality industry are expected to drive demand for attractive and durable glass tableware from countries like China, India, Japan. European countries like Germany, UK, France are also significant markets owing to presence of major players and proliferation of cafes and fine dining restaurants.
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