Glass Tableware Market

Market Snapshot

The glass tableware market revenue totaled US$ 10 Bn for 2020, according to Fact. MR. Sales are expected to reach nearly US$ 16 Bn by 2031, expanding 1.4x from 2021 to 2031. The demand for glass tableware at luxury hotels is projected to accelerate with the top 5 providers holding a major chunk of the revenue across the assessment period of 2021.

Key Points Addressed in Glass Tableware Industry Analysis

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand Share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Glass Tableware and How to Navigate
• Recommendation on Key Winning Strategies

Glass Tableware Revenue Analysis 2016-2020 Vs Outlook from 2021-2031

According to Fact.MR, market research and competitive intelligence provider, from 2016 to 2020, global market for glass tableware has grown at a CAGR of 3% to reach US$ 10 Bn. By 2021, the industry is likely to reach US$ 11.6 Bn. The scramble for investigating cheaper and less formal options are spurring demand.

Glass Tableware can be used in a variety of applications, both domestic and commercial. Typically, they are used either for dining or sipping drinks at the table. There is intensifying competition for domestic glass products in the global as well as the domestic market.

Technologies of the future are becoming increasingly important to manufacturing. Fiberglass composites are being manufactured using modern methods and technology. As a result of growing petrochemical and allied industries, fiberglass demand is also on the rise. By 2031, the market is expected to reach US$ 15.9 Bn, expanding at a CAGR of 3.8%.

What Key Trends are Driving Glass Tableware Industry Expansion?

Glass tableware demand is highly preferred, owing to their high affordability, making them highly adapted as home and commercial products. Due to their sterile properties, glass tableware is in demand in the market. Most of them do not react with acids and substances, making them more durable.

The ever expanding hospitality sectors in various countries is also spurring demand for glass tableware, amid growth of allied industries such as leisure, business and medical tourism respectively. Additionally, consumers are looking for recyclable products to reduce adverse environmental impacts.

Changing the habits of consumers and finding the right dinnerware to fit a meal have increased the sales of glass tableware in the market. Increasing hospitality events and shifts in the use of plastic in environments have further led to the growth of the market for glass tableware.

What role has R&D Played in the Growth of the Glass Tableware Industry?

In contemporary glass tableware, research and technology are constantly refined and improved through technical innovation, from less durable, but cleaner products to more efficient manufacturing methods.

Researchers and designers at companies are striving to improve product features, creating new and innovative designs, shapes, colors, functionalities, and labels that help inspire consumers to purchase their products. Researchers focus on analysis, performance testing, and failure analysis so that they can provide technical support and help with quality assessment and project management. They perform various research from raw materials to finished products. They intend to develop sustainable products in the market in a long run.

Country-wise Analysis

What is the Expected Contribution of North America to the Glass Tableware Industry?

The demand for glass tableware comprised 15% of the global share in North America in 2019. The tableware industry in North America is seen as one of the most significant industries around the world due to the high disposable income, fast-paced lifestyles, and luxury dining.

According to a report published by the Bureau of Labor Statistics, in the U.S, the leisure and hospitality sector is part of the service-providing industries group, and is highly progressive. As stated in the report, gross job gains in this sector increased to 1,660 in Q1 2020 compared to 1,409 in the Q3 2019 2019. This indirectly indicates high demand from the commercial sector.

How do Growth Prospects Appear across Germany?

Germany is projected to contribute to the majority of the market and grow at a CAGR of 3.6% over the forecast period. The market for tableware in these regions is driven by consumers with higher spending power and usage of a wide range of glass tableware. 

The "Germany Food Service- Hotel Restaurant Institutional", report published by USDA Foreign Agricultural Services in 2019, estimated that with an estimated 83 million wealthy consumers, Germany is the largest industry for food and agricultural products in the European Union, while the three major segments in this industry are hotels, restaurants, and catering/institutional. In 2018, Germany food services sales increased by 3.1% to reach US$ 99.01 billion.

Why is Asia Likely to be the Most Promising Glass Tableware Market?

Asia accounts for the largest market for glass tableware globally. A revenue share exceeding 1/3rd is projected for this region until 2031. Catering and hotel investments are spurring the trend of glass tableware in the market. The industry has been bringing about advances in different areas, including industrial movements in countries such as China and India.

As disposable incomes rise, more people are spending on travel, dining, as well as outdoor eating. The development of resources, surges in income, and government spending are all driving growth in this industry. Economic growth in developing countries such as India and China is increasing the demand for glass tableware.

Category-wise Insights

Why the Preference for Dinner Glass Tableware?

According to Fact.MR, dinner glass tableware is expected to remain the dominant product category, accounting for more than 40% of global market demand from 2021-2031. Growing importance of hotels and restaurants is spurring demand for dinner glass tableware.

Additionally, glass based dinner tableware usage across residential segments is also rising, given the increasing importance of aesthetics within home settings. This is majorly due to consumers preferring to stimulate outdoor dining environments across home settings. 

Will Offline Distribution Channels Continue to Hold Sway?

Glass tableware are usually purchased offline so that consumers can see if the quality and appearance are similar. Fact.MR anticipates the segment to hold more than 4/5th of the global market share. Purchases across hypermarkets and supermarkets will remain preferred.

Simultaneously, sales across online channels is inclining, attributed to greater access to e-commerce. Surging ownership of smartphones, laptops and other gadgets have made it possible to avail products with a click of a button. The segment is expected to expand at over 7% CAGR through 2031.

Competitive Landscape

Despite fragmentation, there is cut-throat competition within the global glass tableware landscape. Key players are expanding the range and quality of their products to remain competitive in the market.

• On 29th, January 2021, Pyrex, an international cookware company completed an acquisition of Duralex. As a major French manufacturer, the firm hopes to mark its presence in the international cookware industry through this acquisition and become a leader in the kitchen tableware and glassware markets.
• By 2024, the firm will invest an additional 17 euro million to improve Duralex's productivity, increase standardization, and invest in innovation.
• On January 4th, 2021, Lenox Corp. acquired flatware firm, Hampton Forge. The acquisition of Hampton Forge encompasses the full Hampton Forge portfolio of products, including Hampton Forge, Tomodachi, Skandia, Hampton Forge Signature, and Argent Orfèvres.

Report Scope

Key Segments Covered

• Product

  • Dinner Glass Tableware
  • Beverage Glass Tableware

• Application

  • Household Glass Tableware
  • Commercial Glass Tableware

• Distribution Channel

  • Offline Glass Tableware Sales
  • Online Glass Tableware Sales

Glass Tableware Market- Scope of Report

A recent study by Fact.MR on the glass tableware market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering glass tableware.

The study also provides the dynamics responsible for influencing the future status of the glass tableware market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the glass tableware market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of glass tableware across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of glass tableware during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

• Which are the most lucrative glass tableware markets?
• Which factors will impact the growth of glass tableware?
• How will changing trends impact the strategies of market players?
• How can market players capture the low-hanging opportunities across regions?
• Which companies are leading the glass tableware industry?
• What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).

Estimates at global and regional levels for glass tableware are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.

Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global glass tableware market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the glass tableware market during the forecast period.

Country-specific valuation on demand for glass tableware has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

In-depth Analysis on Competition Analysis

The report sheds light on leading manufacturers of glass tableware, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering glass tableware has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the glass tableware domain. 

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the glass tableware industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.