Glass Tableware Market Size, Share & Industry Analysis, By Product Type ( Dinnerware, Drinkware ), By Application ( Residential, Commercial ), By Quality ( Low, Standard, Premium ) and regional Forecast, 2024-2032

Glass tableware is becoming increasingly popular as it possesses elegant looks with stylish shapes and designs which is helping to gain more traction. The various positive attributes of the usage of the product include easy to be clean, smooth surface, excellent chemical stability, and others. The rising demand of the product in high-end restaurants who are dealing with wealthy guests is accelerating the consumption rate. Furthermore, the rising awareness among consumers of the health benefits of the glassware such as heating glass in microwaves oven being safer than other material types, chemicals not leached into food and beverages in glassware assist to upsurge the demand.

The rising consumption of the product in hotels around the world is a driving factor for the market growth. The escalating number of medium-income households increasing their spending on glass tableware upsurge the usage of the product. For instance, according to the United States Census Bureau data issue, September 2019, is proclaiming that the United States' medium income has risen to USD 61,937 between 2018 and its prior year, and the growth rate is estimated to rise by 0.8%. Additionally, the rising growth of the food catering businesses leads to the increasing consumption of various types of tableware plays a vital role which helps to propel the market further.

Nevertheless, the product requiring careful maintenance to avoid damage or breakage due to its less durability is acting as a hampering factor for market growth.

Key Market Driver -

The high demand of glass tableware in hotels across the globe is acting as a driving factor for the market growth.

Key Market Restraint -

The less durability of the product act as a restraining factor for the market growth.

Key Players Covered:

Oneida Limited, Borosil Glass Works Ltd, Corelle Brands, Libbey, Inc, Lenox Corporation, Şişecam Group, and others are the key companies operating in the glass tableware market.

The glass tableware market is segmented into product type, application, quality, and geography.

On the basis of product type, the market is fragmented into dinnerware and drinkware. Dinnerware is anticipated to be the larger market shareholder owing to the larger demand for plates and bowls for serving meals. Likewise, the large consumption of dinnerwear both in the household as well as commercial places help the upsurge the need of the product as compared to drinkware.

Based on application, the market is bifurcated into residential and commercial. The commercial is projected to be the greater market shareholder on an account of places such as hotels and restaurants increasing the consumption of glass tableware.

By quality, the market is divided into low, standard, and premium. Standard is estimated to be the leading segment due to the product still possessing various features similar to most premium products including attractive style, looks, and design Additionally, the product being at an affordable price range for most of the consumers upsurge the demand for this segment.

Regional Analysis:

On the basis of region, the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Asia Pacific is evaluated to be the leading market shareholder and is projected to continue throughout the forecast period of 2020-2027. The rising growth of tourism in this region leading to increasing construction of food outlets such as family/ casual diner, café, bars, coffee shops, and others help to increase the demand for the product. For instance, according to UWTO World Tourism Organisation 2019 report, is proclaiming that  Asia and the Pacific are projected to have international tourist arrivals of around 358.7 million. Furthermore, the increasing disposable income resulting to change in lifestyle and growing adoption of luxurious products has a significant contribution to the market growth.

North America is assessed to exhibit substantial growth in the glass tableware market owing to the intense competition among tableware of various brands such as  Lenox, Corelle, Oneida, and others resulting in to increase in the manufacturing of innovative and attractive products. The rising growth of the cruise industry resulting in fostering the consumption of the product in its dining places and bars has a significant contribution to the market growth. For instance, according to the Cruise Line International Association, is stating that the cruise industry contributed USD53 billion to the United States economy in 2018.

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Segmentation

Key Industry Developments-

• In September 2019, HIG Capital declared the acquisition of Nadir Figueiredo which is Brazil’s largest glass tableware producer at USD 242.8 million.

• In Januray 2019, The Zaha Hadid Design announced the launch of its new its glass ware products. This include crystal glass, swirl bowl, the hew glassware range, and others.