Global "Glass Tableware Market" is Expected to reach a high CAGR during the forecasting period (2022 - 2029).
Glass Tableware are dishes or dishware made out of glass used for setting the table, serving food, and dining. It includes glassware, serving dishes, and other useful items for practical as well as decorative purposes.
The report covers all the major trends and drivers playing a key role in the growth of the Glass Tableware market.
The global Glass Tableware is primarily driven by rising living standards across the globe and also with the increase in disposable income of people all around the world. Increase in internet penetration in countries all around, boosting the e-commerce business, which is giving users access to a whole variety of products online and also offers easy deliveries at the doorstep.
The rising innovation and the increasing demand for glass tableware products by people will also drive the market for Glass Tableware in the forecast period. Companies are continually working on the innovation of glass tableware and are catering to the needs of people by new launches in this line.
For instance, Cobra launched innovative Smooth Pour glassware, developed with Karmarama in 2017, which, along with a unique font for bars, is a breakthrough in pouring technology. The glass has a unique channel in the interior fascia allowing the liquid to flow smoothly around the glass to the base, creating a whirlpool effect.
However, the availability of counterfeit products and also due to the presence of a highly unorganized market is hampering the growth of Glass Tableware.
By Product type, the global Glass Tableware market is segmented into beverageware, tableware, baby bottles, and others. Beveragewarehave the dominant position in the Glass Tableware market and is expected to retain its dominance in the forecasted period due to rise in the hotel industry in the countries like China and India owing to the tour because of the increase in disposable income of the people all the world, making the demand for more glass tableware. However, baby bottles are also gaining the market due to the demand, and the rise of the birth rate in developing countries like Brazil, China, and India, hence the market will increase with the rapid rate in the forecast period. It is expected that Beveragewaremarket will grow at a CAGR of ~XX% during the forecast period.
By Distribution Channel, the global Glass Tableware market is segmented into Online distribution channels and offline distribution channels. Offline distribution channel has the dominant position in the Glass Tableware market due to the rising supermarkets and hypermarkets giving easy access to consumers all around the world. Although with the e-commerce rise, the online distribution channels market share will witness a higher growth rate in the forecast period.
By geography, the global Glass Tableware market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
APAC holds the largest market share for Glass Tableware due to the high demand of various Glass Tableware by the people and also due to the rise in the internet penetration with a growing population in the countries like India and China, and also the rise in the new hotels constructed for growing tourism is the main driver for the region in the forecast period.
For instance, as China offers a tremendous opportunity both in terms of the market size and travelers, Oyo Hotels & Homes are on a tear to expand across China and Indonesia. The Gurgaon company has said that it's committing $600 million to grow its business in the Chinese market and another $100 million for further development in Indonesia.
Europe is after APAC in terms of the market share of Glass Tablewaredue to the rise in the supermarket and hypermarket culture backed by a rise in disposable income of people will be the major drivers for glass tableware market in the region.
Investment and development in Eastern Europe are constantly growing. Poland is entering its third decade of dynamic growth with new overseas retailers and luxury brands entering the market with thirty new global brands set up operations in the country last few years. There is a retail boom in Russia as 63 new complexes in 40 Russian cities have been completed. There is a positive attitude in Western Europe of investment in outdated shopping centers to allow retailers to expand locally.
Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Glass Tableware is a competitive market with the presence of various global and regional players in the market. The major players in the market include Arc Holdings, LaOpala RG, Libbey, Ocean Glass, and Sisecam Group. Other key players in the market include Lenox Corporation, World Kitchen LLC, Anchor Hocking LLC, Kavalier Glass A.S., and Borosil Glass Works Ltd.
In October 2018, Robinson Home Products launched two tabletop brands, Living by Robinson and Robinson, following its exit of the Oneida tabletop business. The new brands were on display at the fall New York Tabletop Market. The company will no longer serve as Oneida’s U.S. wholesale distributor for flatware and dinnerware. Robinson and Living by Robinson are expected to start shipping in January 2019.
In April 2019, the launch of the new UTSUÀ porcelain brand is a great showcase of how the Creative Residency Arita can facilitate collaboration between a participating designer, a local porcelain producer, and a trading company to develop a high-quality mass-produced porcelain Glass Tableware series. The collection comprises eleven products including a carafe, a range of cups, bowls, plates, and a single flower vase. All products are made by Kawazoe Seizan Co., Ltd.
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