Glass Tableware Market Analysis

Glass tableware is a product used to serve food for dining and other purposes as they form a part of table setting. They are produced from different materials such as glass, ceramics, and steel. Glass tableware products are generally classified into glass dinnerware, glass beverage-ware, and glass flatware.

The Global Glass Tableware Market is projected to surpass US$ 16,933.87 million by the end of 2028, in terms of revenue, growing at CAGR of 6.10% during the forecast period (2021 to 2028).

Drivers

Robust growth in the urban population is expected to drive the market growth of the glass tableware. According to the United Nation, the urban population of the world has grown rapidly since 1950, having increased from 751 million to 4.2 billion in 2018. Growth in the urban population is driven by an overall population increase and by the upward shift in the percentage living in urban areas. Together, these two factors are projected to add 2.5 billion to the world’s urban population by 2050.

Strong growth in the hospitality industry is a prime factor fueling the market growth of the glass tableware. According to the National Restaurant Association, in the United States, the restaurant industry's projected sales of $899 billion. Moreover, increasing investment in the restaurants by international brands across emerging economies such as India and China is again projected to foster the market growth of the glass tableware as glass tableware is widely used in the hotel and catering industry.

Asia-Pacific held dominant position in the Global Glass Tableware Market in 2020, accounting for 38.32% share in terms of revenue, followed by North America and Europe, respectively. As a result of growth in the urban population around the globe.

Figure 1. Global Glass Tableware Market, Revenue Share (%), By Region, 2020

Market Restraints

The need to maintain the high temperature at the production unit of glass tableware is one of the major factors expected to hinder the market growth. Low temperature impact the quality and color of glass materials and thus increase the overall production cost.

The increasing price of raw materials is projected to hamper the market growth of glass tableware. For instance, the higher cost of soda ash which contributes to more than 30% of the overall cost of production of glass products is one of the major restraints for this industry.

Market Opportunities

Developing innovative and decorative tableware products is projected to bring new market opportunities in the near future. Improving living standard of consumers coupled with the growing disposable income is propelling demand for decorative tableware products. Increasing consumer's spending on home decor products is another major factor accelerating the market growth of the decorative tableware products. Thus growing demand for decorative tableware products is expected to foster market growth.

Growing preferences for designer glassware over old fashioned designs is projected to serve major growth opportunities in the near future. Shift from old to new fashion designers tableware especially among the young generation coupled with the increase in population around the globe is further stimulating the market growth. According to the United Nation, the world population is projected to reach 8.5 billion in 2030, and to increase further to 9.7 billion in 2050 and 11.2 billion by 2100. 

Glass Tableware Market Report Coverage

Report Coverage	Details
Base Year:	2020	Market Size in 2021:	US$ 10,544.67  Mn
Historical Data for:	2017 to 2020	Forecast Period:	2021 to 2028
Forecast Period 2021 to 2028 CAGR:	6.10%	2028 Value Projection:	US$ 16,933.87 Mn
Geographies covered:	Region: North America, Europe, Asia Pacific, Rest of World
Segments covered:	By Product: Dinnerware, Flatware, and Beverage-ware
Companies covered:	Sisecam Group, Bormioli Rocco SpA, Wuerttembergische Metallwarenfabrik AG (WMF), Libbey, Inc., ARC International, Anchor Hocking, and Lenox Corporation
Growth Drivers:	Increasing population Rapid urbanization
Restraints & Challenges:	Need to maintain high temperature at the manufacturing facility Increasing price of raw materials

Figure 2. Global Glass Tableware Market – Opportunity Analysis

Market Trends

• The influence of social media marketing on consumers is boosting the sale of innovative glass tableware. This is attributed to the growing trend of increasing smartphone and digitalization around the globe. For instance, casual dining invests a majority of their marketing budget on Search / Email Marketing (51%) majorly for discovery and communicating promotional offers. Also, the rise in the offline distribution channel such as supermarkets and hypermarkets is further anticipated to propel the market growth.
• Growing strategic merger and acquisition among key manufacturers for business expansion is one of the growing trends in the market. H.I.G. Capital acquired Brazilian glass tableware Company, Nadir Figueiredo Indústria e Comércio SA. The deal was valued at approximately 1 billion Brazilian reais. Thus increasing adoption of such strategic merger and acquisition among key players is projected to bolster the market growth of the glass tableware over the forecast period.

Figure 3. Global Glass Tableware Market, Revenue Share (%), By Product, in 2020

Key Takeaways of the Graph:

• The Beverages-ware held dominant position in the market and accounted for 55% share in the Global Glass Tableware Market in 2020. The segment is expected to reach US$ 10,439.19 million in 2028.
• Growth in the small household around the globe is driving demand for the glass tableware market. An increasing number of smaller households is expected to positively impact the market of glass tableware industry. Also, growing numbers of households along with the increase in per capita income will further propel the market growth of global glass tableware over the forecast period. Moreover, increasing the replacement of plastic-based dishes and beverage-ware with glass due to environmental impact is further projected to augment the market growth over the forecast period.
  

Global Glass Tableware Market - Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 pandemic is still influencing the growth of numerous industries, while some industries may experience a decline in demand, many others will stay unaffected and exhibit strong development prospects. The glass tableware market might be affected by COVID-19. In comparison to 2019, the market growth in 2021 is expected to be higher. The glass tableware market was heavily damaged by pandemic-related temporary shutdown in the hotel and hospitality industries, which slowed sales of tableware such as drinking glasses.

Competitive Section

Major players operating in the global glass tableware market include, Sisecam Group, Bormioli Rocco SpA, Wuerttembergische Metallwarenfabrik AG (WMF), Libbey, Inc., ARC International, Anchor Hocking, and Lenox Corporation

Few Recent Developments

• In June 2021, Oneida Consumer LLC has been acquired by Lenox Corporation, a major manufacturer of tabletop, giftware, and home entertaining products. All existing Oneida Consumer LLC tabletop products, including flatware, tableware, and cutlery, are included in the deal.
• In January 2021, Hampton Forge, a 30-year-old flatware and cutlery manufacturer, has been acquired by Lenox Corporation. The deal includes Hampton Forge Portfolio, Tomodachi by Hampton Forge, Skandia, and Argent Orfèvres, as well as the trademark brand.
• In January 2021, following their inauguration, President Joe Biden and Vice President Kamala Harris were presented with custom-made engraved crystal vases by Lenox Corp., which has been doing so for nearly three decades.