Glassware Market Size Exceed to Reach $25.4 Billion by 2031

According to a new report published by Allied Market Research, titled, "Glassware Market," The glassware market size was valued at $15.2 billion in 2021, and is estimated to reach $25.4 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.

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According to the insights of CXOs of leading companies, the glassware market holds a substantial scope for growth; however, its contribution to the world market would increase significantly within the next six years. Glassware is versatile as they are used in, hotels and restaurants, corporate canteens, café and bars, and others. However, recent innovations and development in glassware production are expected to create new opportunities in this booming sector. Several players are entering the market with innovative designs, cost-effective products, and durable products which are expected to fuel the growth of the market. Moreover, the increase in investment in the food service industry is expected to create opportunities for glassware manufacturers in the upcoming years.

Online retail platform is the major driver for the global glassware market. Presently, numerous retailers are associating or have their own web-based retail stores where consumers can gain information about manufacturers and their products. An increase has been witnessed in the number of online shoppers, owing to the availability of varied product options and price comparison on online shopping sites. This is useful for retailers due to zero expenditure on physical outlets or stores. One of the major reasons behind consumers preferring online shopping online is that they can read reviews provided by other users, and compare various stores, products, and prices by different sellers. The growing glassware market trends is expected to propel the growth of the online sales of glasswares. Furthermore, an increase in e-commerce sales, improvement in logistics services, ease in payment options, and the facility to enter new international markets by major brands significantly contribute toward the glassware market growth.

North America: In North America, the increasing demand for premium and customized glassware products, especially in the food and beverage industry, is one of the top impacting factors in the market. Additionally, the growing popularity of home décor and luxury items is also driving the demand for high-end glassware products in the region.

Europe: The high demand for glass packaging in the pharmaceutical and cosmetics industries is driving the growth of the glassware market in Europe. The region is also witnessing a rise in the popularity of craft beer and premium wines, leading to an increase in demand for specialized glassware.

Asia-Pacific: The Asia-Pacific region is witnessing a surge in demand for glassware products due to the rapid growth of the food and beverage industry. The increasing popularity of premium alcoholic beverages such as whisky, wine, and beer is also driving the demand for high-end glassware products in the region.

Middle East and Africa: The Middle East and Africa region is witnessing growth in the glassware market due to the increasing demand for glass packaging in the food and beverage industry. Additionally, the growing popularity of luxury and premium products is driving the demand for high-quality glassware in the region.

Latin America: In Latin America, the increasing demand for glass packaging in the pharmaceutical industry and the growth of the food and beverage industry are the major impacting factors in the glassware market. The region is also witnessing a rise in the popularity of craft beer and premium wines, leading to an increase in demand for specialized glassware.

Paper and plastic are increasingly being used to make disposable plates and glasses, owing to their great environmental performance, and lower production cost. With the rising demand for e-commerce and delivery services such as food and beverages. Recyclable paper-based products must fulfill the high expectations of consumers, brands, and merchants. Around 85% of paper-based resources are recycled, and the paper value chain is constantly developing. It is crucial to start with the design phase, considering both the intended purpose and the finished, to achieve even greater recycling objectives while extending the utility of paper-based packaging. The increasing adoption of paper and steel materials which is more durable and cost-efficient for packaging and drinkware is expected to hinder the growth during the glassware market forecast period.

The soda lime glass segment to maintain its leadership status throughout the forecast period

Based on material, the soda lime glass segment held the highest market share in 2021, accounting for nearly two-fifths of the global glassware market, and is estimated to maintain its leadership status throughout the forecast period. Soda-lime glass is widely used for the manufacturing of glassware owing to its chemical properties and physical properties. It is usually used for windowpanes and glass containers such as bottles and jars for beverages, food, and other glassware products. However, the heat-resistant glass segment is projected to manifest the highest CAGR of 6.0% from 2022 to 2031, owing to the increase in demand for heat resistance glassware.

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The glass jars segment to maintain its leadership status throughout the forecast period

Based on product type, the glass jars segment held the highest market share in 2021, accounting for nearly one-fifth of the global glassware market, and is estimated to maintain its leadership status throughout the forecast period, owing to it's wide use in hotels, restaurants, and café as decorative glass containers to serve drinks. However, the spirit glass segment is projected to manifest the highest CAGR of 6.4% from 2022 to 2031. Spirit glasses are commonly used to serve vodka, gin, tequila, rum, whisky, and other beverages in the food service industry and households.

The hypermarkets and supermarkets segment to maintain its lead position during the forecast period

Based on distribution channel, the hypermarkets and supermarkets segment accounted for the largest share in 2021, contributing to nearly two-fifths of the global glassware market, and is projected to maintain its lead position during the forecast period. Hypermarkets & supermarkets are large stores that operate on a self-service basis, selling large varieties of glassware products, home appliances, groceries, fresh produce, food & beverage products, and sometimes an assortment of non-food goods as well. However, the online retail segment is expected to portray the largest CAGR of 5.7% from 2022 to 2031. Easy availability of information about the material used in the products, time-saving feature, and the facility of home delivery contribute toward the growth of online sales channels.

Asia-Pacific to maintain its dominance by 2031

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for around one-third of the global glassware market, and is likely to dominate the market during the forecast period. China is the largest producer of glassware which is the leading driver for the Asia-Pacific market. Furthermore, the demand for glassware is growing rapidly in the food service industry in the region. However, the LAMEA region is expected to witness the fastest CAGR of 6.6% from 2022 to 2031. Brazil is one of the major consumers of glassware, owing to the growing food service industry, and increasing adoption of glassware by household users. Numerous prominent players in the market have relied on product innovation and technological advancements to gain a significant share of this regional market.

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Leading Market Players: -

Glass Tech Life,
Anhui Deli daily Glass Co., Ltd,
Arc Online,
Lenox Corporation,
Taiwan Glass Industry Corporation,
Anchor Hocking Group, Inc,
Shandong Huapeng Glass Co., Ltd.,
Ocean Glass Public Company Limited,
Garbo Glassware,
Villeroy & Boch AG,
Zrike Brands,
Sisecam,
Borosil Limited,
Degrenne,
Guangzhou Jing Huang Glassware Co,Ltd,
Libbey Glass LLC,
Lifetime Brands, Inc,
Steelite International

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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