The Global Glass Tableware Market was valued at US$ 10,544.67 million in 2020, according to Glass Tableware Market Report, by Product (Dinnerware, Flatware, and Beverage-ware), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa), published by Coherent Market Insights.
The Global Glass Tableware Market was valued at US$ 10,544.67 million in terms of revenue in 2020 and is predicted to grow at a CAGR of 6.10% during the forecast period (2021 to 2028). Glass tableware is dishes or dishware used to setting a table and serving food and dining. Glass tableware consists of glassware, cutlery, serving dishes, and other items. Moreover, they are also used for decorative purposes. Glass tableware is available in different shapes, materials, sizes, and textures. Teapots, pitchers, coffee/tea jugs, and coffee brewers are glass beverage-ware products.
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Browse 50 market data tables* and 45 figures* on “Glass Tableware Market” - Global Forecast to 2028.
Key Trends and Analysis of the Global Glass Tableware Market:
- The growing trend of visiting pubs and cafes due to increasing westernization is expected to support the market growth of the glass tableware. This is also attributed to the increase in the number of pubs and cafes. Also, an increasing number of events and corporates parties coupled with the rise in the women workforce is again propelling the market growth. All these factors are expected to support the market growth of the glass tableware over the forecast timeframe.
- Nuclearization is a growing trend around the globe. The increase in households exceeds the increase in population growth this indicates an increasing nuclearization trend. Emerging branded retails chains and growth in the entertainment along with the rise in malls & multiplexes across developing regions is again expected to foster market growth. Increasing spending more on eating out among the younger generation both in professional and personal fronts is again projected to augment the market growth of glass tableware.
- Growing demand for luxury casual products due to growth in the middle-class population which is projected to offer lucrative growth opportunities in the near future. Growth in the young generation along with the increasing purchasing power that encourages them to buy luxury casual products which are again expected to propel the market growth of the glass tableware. Moreover, change in consumers purchasing behaviors is further boosting the sale of luxury casual products which in turn augmenting the market growth.
Global Glass Tableware Market: Recent Developments
- In October, 2020, the new investment at Sisecam Group's flat glass production facility in Ankara's Polatl district seeks to strengthen the company's manufacturing capacity in order to fulfil rising domestic demand. A new furnace with an annual capacity of 240,000 tonnes was constructed with a US $130 million investment.
- In September 2021, Sisecam, a Turkish glass company, would invest more than TL 4 billion (US $470 million) in two new float lines for the manufacturing of architectural and automotive glass.
- In July 2021, Snam, RINA, Bormioli Luigi, Bormioli Rocco, STARA GLASS, Università degli Studi di Genova, Stazione Sperimentale del Vetro, IFRF Italia, SGRPRO, and RJC SOFT have established a working collaboration to reduce greenhouse gas emissions in the glass industry using hydrogen.
- Challenges associated with developing the quality product are expected to inhibit the market growth. Glass tableware is failing to maintain the quality of the products in terms of durability and composition. Moreover, producers are facing problems in flaw identification. All these factors are projected to hamper the market growth of the glass tableware in the near future.
- The Global Glass Tableware Market was valued at US$ 10,544.67 Mn in 2020 and is forecast to reach a value of US$ 16,933.87 Mn by 2028 at a CAGR of 6.10% between 2021 and 2028.
- The Dinnerware segment was valued US$ 28.31% Mn in 2020 and is expected to witness a CAGR of 4.90% over the forecast period. (Different Segment should be covered than what is covered in MI file by Research Team )
- 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
- These players are constantly engaged in mergers, acquisitions and product launches to gain competitive advantage over other players. For instance, In April 2019, Şişecam Flat glass launched its new products, Flat Glass, at ‘Eurasia Glass Fair’.
Global Glass Tableware Market - Impact of Coronavirus (Covid-19) Pandemic
- The Covid-19 outbreak has had an adverse impact on various industries around the globe. Due to the strict rules and regulations undertaken by government to curb the spread of the infection, companies are looking to function remotely. Moreover, various companies are looking to implement strict measures to operate at minimum risks. Additionally, various companies had shutdowns their manufacturing units which had an adverse impact on glass tableware market.
- North America
- Latin America
- Middle East & Africa