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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

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

Glass Tableware  | Coherent Market Insights

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. 

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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

Glass Tableware  | Coherent Market Insights

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

Glass Tableware  | Coherent Market Insights

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.

Glass tableware is a broad category of tableware that includes serving dishes, glass vessels, tablecloths, tea sets, decanters, cutlery sets, and plaques. Some common glass tableware items include serving bowls, cocktail glasses, ice buckets, flutes, goblets, pitchers, spoons, fondue sets, thermoses, tumblers, champagne glasses, shot glasses, stemware, and dessert bowls.

Market Dynamics

Rapid urbanization and increasing population is a prime factor driving growth of the glass tableware market. Moreover, the growing popularity of trendy glassware is again stimulating growth of the market.

On the other hand, the need to maintain the high temperature at the manufacturing facility is expected to hinder growth of the market.

Key features of the study:

  • This report provides in-depth analysis of the glass tableware market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global glass tableware market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Sisecam Group, Bormioli Rocco SpA, Wuerttembergische Metallwarenfabrik AG (WMF), Libbey, Inc., ARC International, Anchor Hocking, and Lenox Corporation
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global glass tableware market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analysing the global glass tableware market

Detailed Segmentation:

  • Global Glass Tableware Market, By Product:
    • Dinnerware
    • Flatware
    • Beverage-ware
  • Global Glass Tableware Market, By Region:
    • North America
      • By Product:
        • Dinnerware
        • Flatware
        • Beverage-ware
    • Latin America
      • By Product:
        • Dinnerware
        • Flatware
        • Beverage-ware
    • Europe
      • By Product:
        • Dinnerware
        • Flatware
        • Beverage-ware
    • Asia-Pacific
      • By Product:
        • Dinnerware
        • Flatware
        • Beverage-ware
    • Middle East & Africa
      • By Product:
        • Dinnerware
        • Flatware
        • Beverage-ware
  • Company Profiles
    • Sisecam Group *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Bormioli Rocco SpA,
    • Wuerttembergische Metallwarenfabrik AG (WMF)
    • Libbey, Inc.
    • ARC International
    • Anchor Hocking
    • Lenox Corporation

 “*” marked represents similar segmentation in other categories in the respective.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • PORTER’s Analysis
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
  4. Global Glass Tableware Market- Impact of Coronavirus (Covid-19) Pandemic
    • Overview
    • Factors Affecting Global Glass Tableware Market – COVID-19
    • Impact Analysis
  5. Global Glass Tableware Market, By Product, 2017 - 2028(US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Dinnerware
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Flatware
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Beverage-ware
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
  6. Global Glass Tableware Market, By Region, 2017- 2028(US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, By Region, 2021 - 2028
    • North America
      • Market Size and Forecast, By Product, 2017- 2028(US$ Million)
    • Latin America
      • Market Size and Forecast, By Product, 2017- 2028(US$ Million)
    • Europe
      • Market Size and Forecast, By Product, 2017- 2028(US$ Million)
    • Asia Pacific
      • Market Size and Forecast, By Product, 2017- 2028(US$ Million)
    • Middle East & Africa
      • Market Size and Forecast, By Product, 2017- 2028(US$ Million)
  7. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • Sisecam Group
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Bormioli Rocco SpA
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Wuerttembergische Metallwarenfabrik AG (WMF)
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Libbey, Inc.
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • ARC International
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Anchor Hocking
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Lenox Corporation
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 50 market data tables* and 45 figures* on "Global Glass Tableware Market” – global forecast to 2028

FAQgrowicon

Frequently Asked Questions

The market for Global Glass Tableware Market is forecast to surpass US$ 16,933.87 million by 2028 witnessing a CAGR of 6.10% between 2021 and 2028.
Increasing population and rapid urbanization are the factors fuelling growth of the market.
The Beverage-ware segment is the leading component segment in the market
Need to maintain high temperature at the manufacturing facility is expected to hinder growth of the market.
Major players operating in the market include, Sisecam Group, Bormioli Rocco SpA, Wuerttembergische Metallwarenfabrik AG (WMF), Libbey, Inc., ARC International, Anchor Hocking, and Lenox Corporation
Asia Pacific region is expected to hold dominant position in the market over the forecast period. The growth of the market in the region is driven by Growing urban population around the globe.
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