Glassware Market to Grow with a CAGR of 5.57% Globally through to 2028
Rising disposable incomes and changing lifestyles in
developing countries, demand for premium glassware products from the
hospitality industry are factors driving the global glassware market in the
forecast period 2024-2028.
According to TechSci Research report, “Global Glassware
Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Glassware Market stood at USD 15.4 billion
in 2022 and is anticipated to grow with a CAGR of 5.57% in the forecast period,
2024-2028. The glassware market is a dynamic and multifaceted industry that has
been a part of human civilization for centuries. From everyday glassware in
households to specialized laboratory glassware, and exquisite decorative
pieces, glassware serves a wide range of purposes. This sector has evolved
significantly over the years, influenced by factors such as technological
advancements, changing consumer preferences, environmental consciousness, and
economic trends.
Growing levels of investment in the hotel and catering
industry are expected to act as a driver for the growth of the global glassware
market in the forecast period. Changes in the lifestyle of the consumers are
expected to act as a driver for the growth of the global glassware market in
the forecast period of 2023-2030. Also, Advancements in glassware production
technologies are expected to bring growth opportunities for the glassware
market in future.
Browse over 26 market data Figures
spread through 189 Pages and an in-depth TOC on "Glassware Market”
Glassware used in restaurants and bars, as well as
bottles, containers, and other types of glassware, are heavily used by the food
and beverage sector. The need for glassware in this industry is predicted to
increase as the world population keeps expanding and customer tastes move
towards environmentally friendly and aesthetically beautiful packaging. For
serving drinks, meals, and other reasons, the hospitality and tourism
industries primarily rely on glassware. The expansion of these sectors,
especially in emerging nations, is driving up demand for glassware goods.
Products made of superior glass that may be customized are becoming more and
more popular. To appeal to discerning customers and businesses, manufacturers
should take advantage of this opportunity by providing high-end, handcrafted
glassware with distinctive designs, custom engraving, or personalized branding
possibilities. As environmental concerns continue to rise, glassware
manufacturers can focus on promoting their products as eco-friendly alternatives
to plastic and disposable packaging. Companies can invest in sustainable
production practices, such as using recycled glass and reducing energy
consumption, to appeal to environmentally conscious consumers.
With the need for glassware rising,
producers are concentrating on research and development to provide clients with
glassware that is both affordable and long-lasting. Through technical
innovation, research and technology are continuously enhanced and polished to
provide less durable but cleaner products and more effective manufacturing
processes. Researchers and designers at companies work to improve product
characteristics by creating fresher, more modern shapes, colors, and functions
that entice consumers to acquire the products. Manufacturers should have
chances in the next years as a result of the current trends in the glassware
market. Teams of researchers work on projects ranging from studying basic
materials to developing final goods. They intend to develop sustainable
products in the market in a long run. technical innovation in glassware
manufacturing is expected to create opportunities for the manufacturers during
the glassware market forecast.
The Global Glassware Market is segmented into type,
application, material, distribution channel, regional distribution, and
company.
Based on material, the Soda Lime Glass segment accounted for
highest market share of the glassware market, in terms of revenue, in 2022 as
it is being widely used in glassware production Soda lime glass is
characterized by the greenish tinge from which it gets its name. It is a
low-cost, transparent float glass.
By type, the glassware market is
categorized into teacup, coffee mug, wine glass, everyday glass, spirit glass,
beer mug, pitchers, glass jars, and others. The glass jars segment led the
market size in 2022 and is expected to maintain its dominance during the
forecast period. Glass jars are commonly used to store beverages and food.
Glass jars are made up of crystal and soda lime glass material which gives
strength to the glass jar.
Based on region, Asia-Pacific held the largest market
in 2022 and had the highest market share. The sales of glassware by end-user
are increasing at a significant rate in Asia-pacific, owing to the rise in
disposable income, and changes in lifestyles in developing countries such as
China, India, and others.
Major companies operating in Global Glassware Market
are:
- Garbo Glassware
- Shandong Huapeng Glass Co., Ltd.
- Libbey Glass LLC
- Lifetime Brands, Inc
- Anhui Deli daily Glass Co., Ltd
- Lenox Corporation
- Ocean Glass Public Company Limited
- Steelite International
- Degrenne,
- Sisecam
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“The glassware market has experienced consistent
growth, driven by factors like increased consumer awareness of sustainability,
the rising demand for health-conscious products, and a surge in customization
options. As consumers seek eco-friendly and personalized solutions,
manufacturers are innovating and expanding their product lines. Additionally,
the integration of technology into glassware has opened up new avenues for
growth, making the industry more dynamic and diverse. Overall, the glassware
market's promising trajectory reflects its adaptability to evolving consumer
trends and preferences.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Glassware
Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented By Type (Tea Cup, Coffee Mug, Wine Glass, Everyday Glass, Spirit
Glass, Beer Mug, Pitchers, Glass Jars, Others), By Application (Households,
HoReCa, Corporate Canteens, Others), By Material (Soda Lime Glass, Crystal
Glass, Borosilicate Glass, Heat Resistant Glass), By Distribution Channel
(Hypermarkets/Supermarkets, Specialty Stores, Online, Others), By Region, By
Competition, 2018-2028”, has evaluated the future growth potential
of Global Glassware Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Glassware
Market.
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