Pune, July 12, 2023 (GLOBE NEWSWIRE) -- Pune, 10, July, 2023: Maximize Market Research, a Consumer Goods & Services business research firm has published a report on the “Glassware Market”. The total market opportunity for Glassware Market was USD 16.0 Bn in 2022 and is expected to grow at 5.1 percent CAGR through the forecast period by reaching nearly USD 22.9 Bn.
Glassware Market Report Scope and Research Methodology
| Market Size in 2022 | USD 16.0 Bn. |
| Market Size in 2029 | USD 22.9 Bn. |
| CAGR | 5.1% (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 278 |
| No. of Tables | 119 |
| No. of Charts and Figures | 115 |
| Segment Covered | Material, Product Type, Price Point, Distribution Channel and End-User |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The report provides an in-depth analysis of the strategies of the top players in the glassware industry with an in-depth analysis of the market segments and regions. A detailed analysis of market dynamics including drivers, restraints, opportunities and challenges is provided region-wise and segment-wise, in the Glassware Market report. It also includes figures for import/export consumption, supply and demand, price, cost, revenue, and gross margins which makes it an investor’s guide.
The data for the Glassware Market report was collected using primary and secondary research methods, which were combined to make the report authentic. The primary research conducted includes the questionnaire distribution, surveys and phone interviews with Glassware industry experts, market leaders, marketing professionals and entrepreneurs. The bottom-up approach has been used to estimate the global and regional Glassware market size. SWOT analysis was used to provide the strengths and weaknesses of Glassware key players in the industry.
Glassware Market Overview
The glass is an inorganic, stiff, transparent, non-crystalline and adaptable substance. Transparency, malleability, and stability and inertness are the main characteristics of glassware. Over the forecast period, it is expected that the growing residential and commercial sectors, increasing disposable income and changing lifestyle will increase the product demand.
Glassware Market Dynamics
The growing urbanization, increasing number of restaurants and growing tourism sector are driving the market growth. Tourism is majorly driving the business of the hotel and restaurant sector across the world. The hotel and restaurant sector has grown majorly in the last decade, which has increased the demand for various types of glassware goods. Online retail platforms are one of the major drivers of the market. The number of online shoppers has increased due to the availability of various products and price comparison on online shopping sites. The increase in e-commerce sales, ease in payment options, improvement in logistic services and facility to enter new international markets are also contributing to the global glassware market growth.
The fragile and moldy nature of glass is the main restraining factor for the market. The glass tableware has the problem of being easily broken and when used incorrectly, it has the potential to produce an explosion. When it is not cleaned for an extended period, it grows moldy, which is expected to hamper the market growth during the forecast period.
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Glassware Market Regional Insights
The Asia Pacific Glassware Market is expected to hold the largest share of the global market during the forecast period. The increasing disposable income and changing lifestyles in developing countries such as China and India. China is the leading producer of glassware, which is majorly contributing to the regional market growth. The demand for glassware is increasing steadily in the food service industry and households. The manufacturers in the region are also investing highly in research and development to develop cost-effective and durable glassware.
Glassware Market Segmentation
By Material
- Soda Lime Glass
- Crystal Glass
- Borosilicate Glass
- Heat Resistant Glass
Based on Material, the Soda Lime Glass segment is expected to hold the largest Glassware Market share. Around 90 percent of the manufactured glass is soda lime glass. They are majorly used for windowpanes and glassware (bottles and jars) for beverages, food, and various other items.
By Product Type
- Coffee Mug
- Wine Glass
- Everyday Glass
- Spirit Glass
- Beer Mug
- Pitchers
- Tea Cup
- Glass Jars
- Others
Based on Product Type, the Glass Jars segment held the largest Glassware market share and is expected to grow at a high rate during the forecast period. The glass jars are frequently used as ornamental glass containers to serve drinks in restaurants, hotels and cafes, which is expected to drive the global market growth in the future.
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By Price Point
- Premium
- Medium
- Economy
Based on Price Point, the Medium segment is expected to generate the maximum revenue during the forecast period. This segment includes various glass products because most consumers prefer medium-range products that are high-quality and reasonably priced.
By Distribution Channel
- Hypermarkets and supermarkets
- Specialized Stores
- Online Retail
- Others
Based on Distribution Channel, the Hypermarkets and Supermarkets segment is expected to hold the largest share of the global market in the future. Hypermarkets and Supermarkets are big self-service stores that sell a wide range of glassware.
By End User
- Households
- Hotels and Restaurants
- Corporate canteens
- Café and Bars
- Others
Based on End-User, the Hotels and Restaurants segment is expected to hold the largest Glassware Market share in the future. Many Hotels and Restaurants use different types of glasswares such as daily glasses, wine glasses, beer mugs, spirit glasses, food jars, pitchers and others.
Glassware Key Competitors include:
- Steelite International (UK)
- Villeroy & Boch AG(Germany)
- Degrenne(France)
- Taiwan Glass Industry Corporation(Taiwan)
- Garbo Glassware (China)
- Shandong Huapeng Glass Co., Ltd. (China)
- Ocean Glass Public Company Limited (Thailand)
- Libbey Glass LLC(US)
- Zrike Brands (US)
- Glass Tech Life
- Guangzhou Jing Huang Glassware Co, Ltd (China)
- Anhui Deli Daily Glass Co., Ltd (China)
- Lifetime Brands, Inc (US)
- Sisecam (Turkey)
- Anchor Hocking Group, Inc.(US)
- Lenox Corporation (US)
- Borosil Limited
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Key questions answered in the Glassware Market report are:
- What is Glassware?
- Which market segment held the largest share of the global Glassware market in 2022?
- What are the global trends in the Glassware Market?
- What are the upcoming industry applications and trends for the Glassware Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Glassware Market?
- What growth strategies are the players considering to increase their presence in the Glassware Market?
- Who are the leading companies and what are their portfolios in the Glassware Market?
- What are the major challenges that the Glassware Market could face in the future?
- Which region held the largest Glassware Market Share in 2022?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Glassware Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Glassware Market Segmentation – A detailed analysis by Material, Product Type, Price Point, Distribution Channel, End-User and Region
- Competitive Landscape – Profiles of selected key players by region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Consumer Goods & Services research firm, has also published the following reports:
Returnable Glass Bottle Inks Market - The market size is expected to reach USD 9.07 billion by 2029 at a CAGR of 5.8 percent during the forecast period. The market is expected to be driven by rising awareness about the environmental benefits associated with returnable glass bottle inks and the increasing importance of ink for food and beverage packaging.
Recycled Glass Market - The market size is expected to reach USD 5.88 billion by 2029 at a CAGR of 6.31 percent during the forecast period. The market is expected to be driven by increasing demand for recycled glass in industries such as food processing, Automotive and others.
Glass Ceramics Market - The market size is expected to reach USD 2.39 billion by 2029 at a CAGR of 6.1 percent during the forecast period. The market is expected to be driven by increasing demand from the construction industry.
Tempered Glass Cutting Machine Market - The market size is expected to reach USD 5441.72 million by 2029 at a CAGR of 5.7 percent during the forecast period. The market is expected to be driven by the increasing demand for tempered glass cutting machines in automobile vehicles.
Fiberglass Mold Market - The market size is expected to reach USD 513.85 billion by 2029 at a CAGR of 5.7 percent during the forecast period. The market is expected to be driven by the increasing demand for fiberglass mold from wind energy, automotive and transport, construction and infrastructure, aerospace and defense and marine industries.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
