The glass tableware market is anticipated to be worth US$ 9.8 Bn in 2022. Market size is anticipated to grow at a 3.0% CAGR, reaching US$ 12.8 Bn by 2032.
Demand for casual home goods like glass dinnerware will increase as expenditure on these items rises. The demand for glass tableware is anticipated to increase due to an increase in the number of homes and an increase in per capita income.
The adoption of environmentally friendly, recyclable, and biodegradable items is also driving a move away from plastic dinnerware toward glassware. As a result, it is anticipated that demand for glass tableware would increase throughout the projection period (2022-2032).
Key Takeaways from the Glass Tableware Market Study
- The tableware and beverage ware product types are anticipated to have a sizable market share.
- Throughout the evaluation period, positive growth in the commercial category is anticipated in terms of end-use.
Through 2022 and beyond, Europe is anticipated to rule the worldwide glass tableware market.
- The convenience store is predicted to hold the largest market share over the projection period in terms of sales channels.
The need for eco-friendly and environmentally sound glass dinnerware is growing as the tourism sector continues to expand globally. This market will continue to expand steadily until 2032, with an expected 9% annual rise!
Who is winning?
Companies use a variety of strategies to grow their market share, including product development and innovation, mergers and acquisitions, and joint ventures. Additionally, businesses are developing promotional incentives to attract new clients.
For businesses, adding new features and functionality is a top priority. Market leaders in the glass tableware sector include:
Lenox Corporation, World Kitchen LLC, ARC International S.A., Anchor Hocking LLC, Sisecam Group, Libbey Inc., and Borosil Glass Works Ltd. are a few examples of companies.