Press release
Elevating Dining Experiences: Global Trends in Glass Tableware
According to The Business Research Company's, the glass tableware market size has grown strongly in recent years. It will grow from $11.13 billion in 2023 to $11.85 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. the growth in the historic period can be attributed to increasing consumer preference for durable and stylish tableware, increasing demand for eco-friendly and sustainable materials, growth in the number of lifestyle and home decor magazines, increasing number of trade shows and exhibitions, and growth in the number of restaurants and cafes.the glass tableware market size is expected to see strong growth in the next few years. It will grow to $15.36 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. the growth in the forecast period can be attributed to the growing hospitality industry, growing urban population, increasing demand for premium tableware, rising sale of tableware, and rising popularity of home entertaining and casual dining. Major trends in the forecast period include technological advancements, eco-friendly materials, minimalist designs, smart glassware, and luxury packaging.
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Market Drivers and Trends:
The rise in the hospitality sector is expected to propel the growth of the glass tableware market going forward. The hospitality sector refers to a broad category of fields within the service industry that focus on providing services to customers in areas such as lodging, food and beverage, recreation, travel, and tourism. The rise in the hospitality sector is due to rising global travel, expanding business activities, a focus on personalized experiences, technological innovations, and the growth of the sharing economy. Glass dinnerware is an excellent asset for the hospitality industry due to its visual attractiveness, adaptability, toughness, and ease of upkeep, which enhances the quality of dining experiences. For instance, in June 2023, according to Unilever plc, a UK-based company that provides nutrition, hygiene, and personal care products, the value of the global hospitality sector was $4.7 trillion in 2023, growing at 23.8% over the next four years. Therefore, the rise in the hospitality sector is driving the growth of the glass tableware market.
Major companies operating in glass tableware are focused on developing innovative products, such as embossed tableware, to enhance design options and meet evolving consumer preferences. Embossed tableware refers to glassware that features raised or recessed designs and patterns on its surface. These designs are created through various techniques, such as molding or etching, resulting in a textured, three-dimensional effect. For instance, in January 2024, Moomin Characters Oy Ltd, a Finland-based online marketplace, launched its first glass tableware collection. This collection showcases intricate designs inspired by the beloved Moomin characters, incorporating whimsical patterns and vibrant colors that bring a playful and nostalgic touch to dining experiences. The glassware is crafted with high-quality, durable materials that ensure aesthetic appeal and longevity.
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Major Key Players of the Market:
Saint-Gobain S.A., Spiegelau GmbH, AGC Inc. , Arc International S.A., Nippon Sheet Glass Co. Ltd, Riedel Crystal, Taiwan Glass Industry Corporation, Moser a.s., Fiskars Group, Corelle Brands LLC, Villeroy & Boch AG, Libbey Inc., Anchor Hocking, LLC, Vitro S.A.B. de C.V., Steklarna Hrastnik d.o.o., Dartington Crystal Ltd., Bormioli Rocco S.p.A., Orrefors Kosta Boda AB, Krosno Glass S.A., Waterford Crystal Limited, Pasabahce Cam Sanayi ve Ticaret A.S., La Rochère SAS, Bohemia Crystal, Zwiesel Kristallglas AG
Glass Tableware Market 2024 Key Insights:
• The glass tableware market size is expected to grow to$15.36 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• Growth In Hospitality Sector Drives Expansion Of Glass Tableware Market
• Pyrex Acquires Duralex To Expand Product Offerings And Market Reach
• North America was the largest region in the glass tableware market in 2023
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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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