by Market Overview:
Glass tableware includes drinking glasses, plates, bowls and other accessories made of glass. These products are durable, versatile and provide an aesthetic appeal. Glass tableware is non-toxic, hygienic and retains heat better than other materials which makes it suitable for the dining experience.
Market key trends:
The growing demand for premium and aesthetic tableware coupled with a focus on aesthetic home décor has propelled the demand for glass tableware globally. Furthermore, an increasing number of restaurants, cafes and bars are adopting glass tableware to provide a premium experience to customers which is another major factor driving the market growth. Additionally, growing urban population and improved living standards in developing countries is boosting the market growth. However, the availability of substitute products such as ceramic tableware limits the market growth.
The global glass tableware market is witnessing high growth due to the increasing adoption of glass tableware over plastic and ceramic tableware products. Glass tableware provides a premium and elegant appearance to food and beverages. Furthermore, the rising number of cafes, restaurants, and hotels are driving the demand for glass tableware from the commercial sector. Manufacturers are introducing luxurious and premium glass tableware products made of high-quality materials to cater to the needs of high-end customers.
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,
SWOT Analysis
Strength: Glass tableware is durable and break-resistant. It can withstand high temperatures and is safer for hot foods.
Weakness: Glass is fragile and prone to breaking if dropped. Transportation of glass tableware can be risky.
Opportunity: Increasing number of cafes and restaurants provide an opportunity to suppliers to increase sales. Growing online retail industry expands the availability of glass tableware.
Threats: Plastic and ceramic tableware are cheaper alternatives, acting as threats. Economic slowdowns can negatively impact the foodservice industry and subsequently the glass tableware market.
Key Takeaways
The global glass tableware market is expected to witness high growth, exhibiting CAGR of 7.6% over the forecast period, due to increasing penetration of cafes and restaurants globally.
Regional analysis:
The North America region dominates the glass tableware market currently, owing to rising number of cafes and restaurants in US and Canada. Asia Pacific glass tableware market is anticipated to witness the fastest growth due to growing middle-class population and their increasing spending on dining out in countries like 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.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
