What Has Been The Evolution of the Glassware Market in Recent Years?
The glassware market has seen considerable growth due to a variety of factors.
• Recent years have seen a substantial expansion in the glassware market size. It is projected to rise from $17.04 billion in 2024 to $18.17 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 6.7%.
Factors such as consumer preferences, economic conditions, cultural trends, market rivalry, and global trade dynamics were significant contributors to the historical period's growth.
What Are the Future Growth Projections for the Glassware Market?
The glassware market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of glassware is anticipated to experience robust expansion in the coming years, reaching $22.18 billion in 2029 with a compound annual growth rate (CAGR) of 5.1%.
Several factors such as evolving consumer tastes, sustainability movements, economic perspectives, worldwide market growth, and regulatory modifications are accountable for this growth during the predicted period. The key trends during this period are projected to be advancements in manufacturing techniques, digitalization and e-commerce progression, technological development, integration of technology, and the rise of online retail.
What Are The Core Factors Supporting Growth In The Glassware Market?
The rise in popularity of cafes and bars is propelling the growth of the glassware market. These establishments, each with their own unique environment, serve food and beverages. Glassware, used to serve a variety of drinks, adds to the overall ambiance and identity of these places, in addition to maintaining the quality of drinks. For instance, Starbucks Corporation, the US coffeehouse company, witnessed a significant growth in the first quarter of 2023 where it opened 459 new stores, bringing the total to 36,170 locations worldwide. By the second quarter, they increased to 36,634 and there's a plan for expansion up to 55,000 stores by 2030. Moreover, Budget Branders, a US restaurant supply store, estimated there would be around 69,485 registered bars by 2024, a 1.5% increase from 2022. These increasing numbers suggest the potential for the growth of the glassware market.
A Driver for the Glassware Market: Growth Fueled by Urbanization
What Are The Major Segments Within The Global Glassware Market?
The glassware market covered in this report is segmented –
1) By Material: Soda Lime Glass, Crystal Glass, Borosilicate Glass, Heat Resistant Glass
2) By Price Point: Premium, Medium, Economy
3) By Distribution Channel: Business-To-Business (B2B), E-Commerce, Super markets And Hyper markets, Specialized Stores, Other Distribution Channels
4) By End-User: Households, Hotels And Restaurants, Corporate Canteens, Cafe And Bars, Other End-Users
Subsegments:
1) By Soda Lime Glass: Glass Bottles, Glass Jars, Drinking Glasses, Containers
2) By Crystal Glass: Crystal Glasses, Crystal Vases, Crystal Bowls, Crystal Decanters
3) By Borosilicate Glass: Laboratory Glassware, Kitchenware, Bakeware
4) By Heat Resistant Glass: Cookware, Oven-Safe Glass Containers, Drinkware
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What New Trends Are Influencing The Glassware Market?
Leading organizations in the glassware market are keen on creating innovative products like Syksy Nordic autumn rain pattern glassware with an aim to enhance their table-setting category. This design is inspired by rainfall in autumn, from soft drizzles to robust torrents, and integrates functional shapes with an artful pattern. A case in point is Marimekko Oyk, a lifestyle and fashion powerhouse based in Finland, which in August 2023, introduced the Syksy glassware series. The line-up includes goblets, carafes, and mouth-blown tumblers, all adorned with a design representative of the Nordic autumn rain, spanning from light rainfall to heavy downpours. These items, which can be mixed and matched with other Marimekko tableware, bring an elegant touch to their table setting category.
Who Are the Key Players In The Glassware Market?
Major companies operating in the glassware market report are:
• Groupe SEB SA
• Arc International Tableware UK Ltd.
• Sisecam Dis Ticaret Anonim Sirketi
• Lenox Corporation
• Taiwan Glass Industry Corporation
• Villeroy & Boch AG
• Libbey Glass LLC
• Lifetime Brands Inc.
• The Oneida Group Inc.
• Anchor Hocking Group Inc.
• Denby Pottery Company Ltd.
• Anhui Deli Housedhold Glass Co. Ltd.
• Shandong Huapeng Glass Co. Ltd.
• Borosil Limited
• DEGRENNE
• Ocean Glass Public Company Limited
• Cello World Limited
• Stölzle Lausitz GmbH
• Garbo Glassware
• Glasstech Industries (India) Pvt. Ltd.
• Zrike Brands
• Steklarna Hrastnik d.o.o.
• Eagle Glass Deco Pvt. Ltd.
• Guangzhou Jing Huang Glassware Co. Ltd.
• Steelite International Ltd.
• Jiangsu Rongtai Glass Products Co. Ltd.
• Cumbria Crystal Limited
What Is The Most Dominant Region In The Glassware Market?
Asia-Pacific was the largest region in the glassware market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the glassware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
