Glassware Market to Reach $25.4 Billion, Globally, by 2031 at 5.2% CAGR

Allied Market Research published a report, titled, "Glassware Market by Material (Soda Lime Glass, Crystal Glass, Borosilicate Glass, Heat Resistant Glass), by Product Type (Tea Cup, Coffee Mug, Wine Glass, Everyday Glass, Spirit Glass, Beer Mug, Pitchers, Glass Jars, Others), by Price Point (Premium, Medium, Economy), by Distribution Channel (Hypermarkets and supermarkets, Specialized Stores, Online Retail, Others), by End User (Households, Hotels and Restaurants, Corporate canteens, Café and Bars, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global glassware industry generated $15.2 billion in 2021, and is anticipated to generate $25.4 billion by 2031, witnessing a CAGR of 5.2% from 2022 to 2031.

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Prime determinants of growth

Rise in demand for glassware, improvement in logistics services, and ease in payment options drive the growth of the global glassware market. However, fluctuating prices of raw materials restrict the market growth. Moreover, rise in research and development activities to offer cost-efficient and durable glassware presents new opportunities for the market growth in the coming years.

Covid-19 Scenario

The outbreak of the Covid-19 pandemic had a negative impact on the global glassware market, owing to supply chain disruptions and the implementation of stringent restrictions to follow social distancing & consistent lockdowns across the globe.
Not only the production but also the sale of glassware was hampered due to closure of stores across the world, especially in the initial period of the pandemic.
However, sales through e-commerce websites generated some revenue and helped the glassware industry to recover from the loss.
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.

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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