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Glassware And Crystalware Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Glassware And Crystalware Market
Glassware And Crystalware 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 $21.13 billion In 2028 At A CAGR Of 5.5% :
The glassware market size has grown strongly in recent years. It will grow from $15.96 billion in 2023 to $17.04 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to consumer preferences, economic conditions, cultural influences, market competition, global trade dynamics.
The glassware market size is expected to see strong growth in the next few years. It will grow to $21.13 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to changing consumer preferences, sustainability trends, economic outlook, global market expansion, regulatory changes. Major trends in the forecast period include innovations in manufacturing, digitalization and e-commerce, technological advancements, technology integration, online retail growth.
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Glassware And Crystalware Market Major Segments
The glassware and crystalware market covered in this report is segmented -
1) By Type: Glassware, Crystalware
2) By Price: Low, Medium, High
3) By Application: Tableware, Drinking Vessels, Ornamental And Decorative, Other Applications
Key Driver - Surge In Restaurants And Hotels Fuels Glassware And Crystalware Market
The rising number of restaurants and hotels is expected to propel the growth of the glassware and crystalware market going forward. Restaurants and hotels are two distinct types of establishments within the hospitality industry, that provide food, beverage, and accommodation services to customers. Restaurants and hotels use glassware and crystalware for serving beverages and enhancing the dining experience due to their elegance, durability, and ability to complement the presentation of food and drinks. For instance, in August 2023, according to the US Bureau of Labor Statistics, a US-based federal fact-finding agency, the number of establishments in food services and drinking places in private industry for the 4th quarter of 2022 was 694,267, an increase of 4.28% compared to 665,736 during the same period in 2021. Therefore, the rising number of restaurants and hotels is driving the growth of the glassware and crystalware market.
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Prominent Trend - Exploring The Nordic Autumn Rain Pattern For Unique Table Settings
Major companies in the glassware and crystalware market are focused on developing innovative glassware that features patterns, such as the Nordic autumn rain pattern, to expand the brand's table-setting category and maximize their profits in the market. The Nordic autumn rain pattern is a sketched, relief-style design inspired by rain phenomena, bringing a touch of silent calm and melancholy. For instance, in August 2023, Marimekko, a Finland-based lifestyle design company, launched the Syksy glassware series, including mouth-blown tumblers, goblets, and carafes. The design features a Nordic autumn rain pattern in a sketched, relief style, bringing a sense of calm and melancholy to the functional glassware. The pieces, stackable and mixable with other Marimekko tableware, offer a sophisticated addition to the brand's table setting category.
Glassware And Crystalware Market Players
Major companies operating in the glassware and crystalware market report are Groupe SEB, Schott Zwiesel AG, Fiskars Group, WMF Group, Villeroy & Boch AG, Noritake Co Ltd, Libbey Inc, Lifetime Brands Inc, The Oneida Group Inc, Lenox Corporation, The Denby Pottery Company Ltd, FUSO Glass India Pvt Ltd, Anchor Hocking Company, Baccarat SA, Riedel Crystal, Guy Degrenne SA, WWRD Holdings, Duralex International, Ocean Glass Public Company Limited, The Zrike Company Inc
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Largest And Fastest Growing Region In The Market
North America was the largest region in the glassware and crystalware market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the glassware and crystalware 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 And Crystalware Market Report Structure
3. Glassware And Crystalware Market Trends And Strategies
4. Glassware And Crystalware Market - Macro Economic Scenario
5. Glassware And Crystalware Market Size And Growth
…..
27. Glassware And Crystalware Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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