Press release
Glassware Market Insights, Forecast, Growth, Trends: 2024-2033
Glassware Market
Glassware Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $10.4 billion In 2028 At A CAGR Of 3.6% :
The glassware and crystalware market size has grown steadily in recent years. It will grow from $8.61 billion in 2023 to $9.01 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to gaming industry growth, artificial intelligence (ai) and machine learning (ml), virtual reality (vr) adoption, cryptocurrency mining boom, pc gaming renaissance.
The glassware and crystalware market size is expected to see steady growth in the next few years. It will grow to $10.4 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%. The growth in the forecast period can be attributed to 8k gaming and high-resolution displays, ai-powered graphics enhancement, augmented reality (ar) and mixed reality (mr), energy efficiency and sustainability, edge computing and cloud gaming. Major trends in the forecast period include global digitization initiatives, ray tracing technology, technological advancements:, digital content creation, ray tracing technology advancements.
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Glassware Market Major Segments
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, Supermarkets And Hypermarkets, Specialized Stores, Other Distribution Channels
4) By End-User: Households, Hotels And Restaurants, Corporate Canteens, Cafe And Bars, Other End-Users
Key Driver - Cafe And Bar Culture Fuels Glassware Market Expansion
The growing penetration of cafes and bars is driving the growth of the glassware market. A café and a bar are two distinct types of establishments that serve food and beverages, each with its own unique characteristics and atmosphere. Glassware is used in cafes and bars to serve a wide variety of beverages, including cocktails, wines, beers, and non-alcoholic drinks, enhance the sensory experience, maintain drink quality, and contribute to the overall atmosphere and identity of the establishment. For instance, in October 2021, according to reports shared by Starbucks Corporation, a US-based coffeehouse company, Starbucks achieved significant growth in Q4 of fiscal year 2021 by opening 538 new stores, marking a 4% increase compared to reach 33,833. Furthermore, in 2024, according to Budget Branders, a US-based restaurant supply store, there will be roughly 69,485 registered bars in the US, representing a 1.5% growth from 2022. Therefore, the growing penetration of cafes and bars is expected to propel the growth of the glassware market.
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Prominent Trend - Marimekko Oyk Introduces Syksy Nordic Autumn Rain Series
Major companies in the glassware market are focused on developing innovative glassware, such as the Syksy Nordic autumn rain pattern glassware, to expand the brand's table-setting category, which is inspired by the autumn rain. This series combines functional shapes with a drawn pattern reflecting the Nordic autumn rain, from a gentle drizzle to powerful downpours. For instance, in August 2023, Marimekko Oyk, a Finland-based fashion and lifestyle company, launched the Syksy glassware series, including mouth-blown tumblers, goblets, and carafes. The glassware features a drawn pattern inspired by the Nordic autumn rain, from a gentle drizzle to drenching downpours. The pieces, stackable and mixable with other Marimekko tableware, offer a sophisticated addition to the brand's table setting category.
Glassware Market Players
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
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the glassware market in 2023. 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.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Glassware Market Report Structure
3. Glassware Market Trends And Strategies
4. Glassware Market - Macro Economic Scenario
5. Glassware Market Size And Growth
…..
27. Glassware Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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