Glass Tableware Market size to grow by USD 1.49 billion, 54% of Market Growth is Expected in APAC, Technavio

NEW YORK, Feb. 26, 2024 /PRNewswire/ -- The global glass tableware market size is forecast to grow by USD 1,493.77 million, at a CAGR of 3.32% between 2022 and 2027, according to Technavio. APAC is estimated to account for 54% of the market's growth during the forecast period. The rising disposable income and increasing economic activities have put a majority of the lower-middle-class population in the upper-middle-class segment. This transformation is creating a significant demand for a wide range of premium consumer goods and items, including glass tableware. Also, many consumers in the region are switching from conventional stainless steel, plastic, and melamine tableware to glass tableware products. All these factors are driving the growth of the regional market. Download a report sample

Vendor Landscape

The global glass tableware market is fragmented. The market comprises several large and small vendors that offer various types of glass tableware. The presence of numerous vendors in the market makes it competitive, which is compelling vendors to adopt pricing and marketing strategies to retain their existing market shares and seize new market opportunities. However, the increasing competition among manufacturers may lead them to reduce the prices of their products, which can have a negative impact on their profit margins. Further, the entry by new players into the market requires high capital investments. Thus, the threat of substitutes is moderate in 2022 and is expected to remain the same during the forecast period.

Anchor Hocking LLC, Anhui Deli Daily Glass Co. Ltd., arc online, Bormioli Rocco Spa, Cedar Glass SAE, Corelle Brands LLC, Glass Source GmbH, Inter IKEA Holding BV, Kavalierglass AS, Krosno Glass SA, LaOpala RG Pvt. Ltd., Lenox Corp., Libbey Inc., Ocean Glass Public Co. Ltd., and PGP Glass Pvt. Ltd. are among some of the major market participants. Download a report sample

Segmentation Overview

• Product 
• Dinnerware
• Beverageware
• Others

The dinnerware segment held the largest share of the market in 2022. The segment includes plates and other serving dishes. The demand for these products is on the rise due to the rapid economic growth in developing countries and the shift in the lifestyle of consumers. In addition to this, factors such as the rising disposable income of consumers and Westernization are fueling the growth of the segment.

• Geography 
• APAC 
• China
• India
• Europe 
• The U.K.
• Germany
• France
• Rest of Europe
• North America 
• The U.S.
• Canada
• Middle East & Africa 
• Saudi Arabia
• South Africa
• Rest of the Middle East & Africa
• South America 
• Brazil
• Argentina. To gain further insights about various segments, Request a PDF Sample

Analyst Review

The Glass Tableware Market exhibits a dynamic landscape encompassing various channels and sectors. Offline sales channels continue to thrive alongside the surge of online platforms, catering to diverse consumer preferences. Manufacturers play a pivotal role in driving innovation and meeting market demands, serving both the food service sector and household consumers. Import/export analysis underscores global trade dynamics, while pricing and production consumption analyses offer valuable insights into market trends. Patent and technological advancements further shape the market landscape, enhancing product offerings and efficiency. Market scope includes comprehensive segmentation by product (dinnerware, drinkware), distribution channel, and end user. Covered across multiple countries, market players capitalize on emerging opportunities to foster growth and meet evolving consumer needs.

The Glass Tableware Market is experiencing a surge in demand, particularly in emerging markets, as consumers seek elegance and durability in their dining experiences. Manufacturers are responding with product innovations that marry traditional craftsmanship with modern design, catering to diverse tastes worldwide. From intricately etched glassware to sleek minimalist designs, the market is teeming with options that cater to every aesthetic. This growth is fueled by the increasing disposable income and evolving lifestyle preferences of consumers in emerging markets. Moreover, product innovations such as shatter-resistant glass and eco-friendly materials are gaining traction, reflecting a shift towards sustainability. As the market continues to evolve, these trends underscore the importance of adaptability and creativity in meeting consumer demands. Request a PDF Sample

Related Reports:

• The cookware market size is expected to increase by USD 8.99 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.8%. 
•  The crystalware and glassware market size is expected to increase by USD 4.12 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.95%.

Table of Contents:

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

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SOURCE Technavio