Know How Glassware Market Rising Globally By 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.
In
accordance with a TechSci Research report titled "Global Glassware
Market - Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028," the worldwide Glassware Market
attained a value of USD 15.4 billion in 2022 and is expected to exhibit a
Compound Annual Growth Rate (CAGR) of 5.57% during the forecast period from
2024 to 2028. The glassware market is a diverse and dynamic sector that has
been an integral part of human civilization for centuries. Ranging from
everyday glassware in households to specialized laboratory glassware and
exquisite decorative pieces, glassware serves a broad spectrum of purposes.
This sector has undergone significant evolution over the years, driven by
factors such as technological advancements, changing consumer preferences,
environmental consciousness, and economic trends.
The
growth of the global glassware market in the forecast period is expected to be
propelled by increased investment levels in the hotel and catering industry.
Changes in consumer lifestyles are also anticipated to be a driving factor
during the forecast period of 2023-2030. Furthermore, advancements in glassware
production technologies are likely to create growth opportunities for the
glassware market in the future.
Browse over 26 market data Figures spread through 189
Pages and an in-depth TOC on "Glassware Market”
https://www.techsciresearch.com/report/glassware-market/18971.html
Glassware
is widely used in the food and beverage industry, encompassing restaurants and
bars, as well as bottles, containers, and other glassware types. The demand for
glassware in this sector is expected to rise as the global population continues
to expand, and consumer preferences shift toward environmentally friendly and
visually appealing packaging. The hospitality and tourism industries rely
heavily on glassware for serving beverages, meals, and various other purposes.
The expansion of these industries, particularly in emerging economies, is
fueling the demand for glassware products. High-quality, customizable glass
products are gaining popularity, providing manufacturers with opportunities to
cater to discerning consumers and businesses by offering high-end, handcrafted
glassware with unique designs, custom engraving, or personalized branding
options. As environmental concerns continue to mount, glassware manufacturers
can focus on marketing their products as eco-friendly alternatives to plastic
and disposable packaging. Companies can invest in sustainable manufacturing
practices, such as using recycled glass and reducing energy consumption, to
appeal to environmentally conscious consumers.
With
the growing demand for glassware, manufacturers are focusing on research and
development to offer customers glassware that is both cost-effective and
durable. Through continuous technical innovation, research and technology are
being refined to provide more durable yet cleaner products and more efficient
manufacturing processes. Company research and design teams are working on
enhancing product features by creating contemporary shapes, colors, and
functionalities that attract consumers to their products. As a result of
ongoing trends in the glassware market, manufacturers are expected to have
opportunities in the coming years. Teams of researchers are engaged in various
projects, ranging from studying fundamental materials to developing finished
products with a long-term focus on sustainability. Technical innovations in
glassware production are anticipated to create opportunities for manufacturers
during the forecast period for the glassware market.
The
Global Glassware Market is categorized based on type, application, material,
distribution channel, regional distribution, and companies.
- Regarding
material, the Soda Lime Glass segment held the largest market share in
terms of revenue in 2022, as it is widely used in glassware production.
Soda lime glass is known for its greenish tinge, from which it derives its
name. It is cost-effective and transparent float glass.
- In
terms of type, the glassware market includes teacups, coffee mugs, wine
glasses, everyday glasses, spirit glasses, beer mugs, pitchers, glass
jars, and other categories. The glass jars segment dominated the market
size in 2022 and is expected to continue its dominance during the forecast
period. Glass jars are commonly used for storing beverages and food, and
they are typically made from crystal and soda lime glass materials, which
provide strength to the glass jars.
- In
2022, Asia-Pacific held the largest market share and market size,
experiencing a significant increase in glassware sales to end-users. This
was driven by rising disposable income and lifestyle changes in developing
countries such as China and India.
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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Mr.
Karan Chechi, Research Director at TechSci Research, a research-based
management consulting firm, stated, "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."
The
report titled "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 the Global Glassware Market and provides statistics and
information on market size, structure, and future market growth. The report
aims to provide cutting-edge market intelligence to assist decision-makers in
making sound investment decisions. Additionally, the report identifies and
analyzes emerging trends along with essential drivers, challenges, and
opportunities in the Global Glassware Market.
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