Press release
Glassware Market Set to Reach $22.18 Billion by 2029 with 5.1% Yearly Growth
Glassware Market Report
The glassware market will grow from $17.04 billion in 2024 to $18.17 billion in 2025, at a CAGR of 6.7%. Growth factors include changing consumer preferences, economic conditions, cultural influences, market competition, and global trade dynamics.
The glassware market is anticipated to experience substantial growth, reaching $22.18 billion in 2029 at a CAGR of 5.1%. Key drivers of this growth include shifting consumer preferences, sustainability initiatives, economic trends, global market expansion, and regulatory changes. Major trends include manufacturing innovations, digitalization and the rise of e-commerce, technological advancements, increasing technology integration, and growth in online retail.
What Are the Forces Behind the Rapid Growth of the Glassware Market?
The growing penetration of cafes and bars is expected to drive the growth of the glassware market. Cafes and bars serve a variety of beverages, including cocktails, wines, and beers, and use glassware to enhance the drinking experience and maintain the quality of drinks. For example, Starbucks Corporation, a U.S.-based coffeehouse company, added 459 new stores in the first quarter of fiscal year 2023, bringing its global store count to 36,170, with plans to reach 55,000 stores by 2030. Additionally, the U.S. is projected to have around 69,485 registered bars in 2024. As a result, the growth in cafes and bars is driving the glassware market's expansion.
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Who Are the Dominant Companies Influencing Glassware Market Trends?
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
How Is the Glassware Market Evolving?
In the glassware market, companies are working on developing creative glassware designs like the Syksy Nordic autumn rain pattern to expand their table-setting collections. Inspired by autumn rain, this glassware series features functional shapes with a drawn pattern that reflects the varying intensity of Nordic autumn rain. In August 2023, Finland-based Marimekko Oyk launched the Syksy glassware series, which includes mouth-blown tumblers, goblets, and carafes. This set, stackable and compatible with other Marimekko tableware, adds sophistication to their table-setting category.
What Are the Different Segmentations in the Glassware Market?
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, Super markets And Hyper markets, Specialized Stores, Other Distribution Channels
4) By End-User: Households, Hotels And Restaurants, Corporate Canteens, Cafe And Bars, Other End-Users
Subsegments:
1) By Soda Lime Glass: Glass Bottles, Glass Jars, Drinking Glasses, Containers
2) By Crystal Glass: Crystal Glasses, Crystal Vases, Crystal Bowls, Crystal Decanters
3) By Borosilicate Glass: Laboratory Glassware, Kitchenware, Bakeware
4) By Heat Resistant Glass: Cookware, Oven-Safe Glass Containers, Drinkware
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Which Region Is at the Forefront of the Glassware Market?
Asia-Pacific was the largest region in the glassware market in 2024. 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.
What Is Covered In The Glassware Global Market Report?
- Market Size Analysis: Analyze the Glassware Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Glassware Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Glassware Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Glassware Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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