Wilmington, New Castle, May 09, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Glassware Market by Material (Soda Lime Glass, Crystal Glass, Borosilicate Glass, and Heat Resistant Glass), Product Type (Tea Cup, Coffee Mug, Wine Glass, Everyday Glass, Spirit Glass, Beer Mug, Pitchers, Glass Jars, and Others), Price Point (Premium, Medium, and Economy), End User (Households, Hotels & Restaurants, Corporate Canteens, Café & Bars, and Others), and Distribution Channel (Hypermarkets & Supermarkets, Specialized Stores, Online Retail, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2035". According to the report, the global glassware market was valued at $16,831.7 million in 2023 and is projected to reach $32,703.9 million by 2035, registering a CAGR of 5.8% from 2024 to 2035.
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Prime determinants of growth
The growth of the glassware market depends on several prime determinants. Firstly, increase in awareness and prioritization of sustainability drive the demand for eco-friendly packaging solutions, where glass stands out due to its recyclability and inert properties, appealing to environmentally conscious consumers and industries. Secondly, technological advancements in glass manufacturing processes, such as lightweighting and customization capabilities, expand the applicability of glassware across various sectors, fostering innovation and product differentiation. In addition, evolving consumer preferences toward premium and aesthetically pleasing glassware products, both for functional and decorative purposes, contribute to market growth, reflecting a shift toward higher-quality and luxury items. Furthermore, the rise of e-commerce platforms facilitates broader access to glassware products, enabling manufacturers to reach a wider audience and drive sales. Moreover, stringent regulations promoting the use of glass packaging in industries such as food, beverages, pharmaceuticals, and cosmetics reinforce market demand, emphasizing the importance of safety, hygiene, and product integrity. Overall, these determinants collectively fuel the growth trajectory of the glassware market, offering ample opportunities for manufacturers to capitalize on evolving consumer trends and industry dynamics.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2035 |
| Base Year | 2023 |
| Market Size in 2023 | $16,831.7 million |
| Market Size in 2035 | $32,703.9 million |
| CAGR | 5.8% |
| No. of Pages in Report | 295 |
| Segments covered | Material, Product Type, Price Point, End User, Distribution Channel, and Region. |
| Drivers | Sustainability and Environmental Awareness Changing Consumer Preferences Urbanization and Disposable Income |
| Opportunities | Rising Demand for Sustainable Packaging Expansion of E-commerce Channels |
| Restraint | Fragility and Transportation Costs |
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The heat resistant glass segment to maintain its leadership status throughout the forecast period
By material, the soda lime glass segment held the highest market share in 2023, accounting for nearly two-fifths of the global glassware market revenue and is estimated to maintain its leadership status throughout the forecast period. Soda lime glass is the most common type of glass used in various applications, including packaging, tableware, and decorative items owing to its affordability, clarity, and ease of manufacturing. It offers excellent transparency, chemical resistance, and recyclability, making it suitable for a wide range of products. In addition, advancements in soda lime glass manufacturing processes, such as lightweighting and customization capabilities, have further bolstered its market dominance, driving demand across industries and consumer segments.
The spirit glass segment to maintain its leadership status throughout the forecast period
By product type, the glass jars segment held the highest market share in 2023, accounting for nearly one-fifths of the global glassware market revenue and is estimated to maintain its leadership status throughout the forecast period. Glass jars are commonly used for packaging various food and beverage products, including jams, sauces, pickles, spices, and condiments, as well as non-food items like candles, cosmetics, and pharmaceuticals. The inherent properties of glass, such as impermeability, transparency, and non-reactivity, make it an ideal choice for preserving product freshness, flavor, and quality. In addition, consumer preferences for eco-friendly and sustainable packaging solutions further drive the demand for glass jars, as they are recyclable, reusable, and environmentally friendly. The glass jar segment's dominance is also attributed to innovations in jar design, sizes, closures, and labelling, catering to diverse market needs and preferences.
The premium segment to maintain its leadership status throughout the forecast period
By price point, the medium segment held the highest market share in 2023, accounting for nearly two-fifths of the global glassware market revenue and is estimated to maintain its leadership status throughout the forecast period. Positioned between the lower-priced and premium segments, the medium price point appeals to a broad spectrum of consumers seeking quality products at reasonable prices. This segment offers a compromise between affordability and product features, making it attractive to both budget-conscious shoppers and those willing to invest in higher-quality glassware. In addition, the medium price point often represents products with sufficient quality, durability, and aesthetic appeal, meeting the diverse needs and preferences of consumers across various demographics and market segments. As a result, the medium price point segment captures a significant share of the glassware market, reflecting its popularity and consumer demand for value-oriented offerings.
The corporate canteens segment to maintain its leadership status throughout the forecast period
By end user, the hotels and restaurants segment held the highest market share in 2023, accounting for nearly one-third of the global glassware market revenue and is estimated to maintain its leadership status throughout the forecast period. Hotels, restaurants, cafes, and catering businesses rely heavily on glassware for serving beverages, meals, and desserts to their patrons. The segment's dominance is driven by factors such as the expansion of the hospitality sector, growth in the tourism industry, and increasing consumer preferences for dining out and socializing. In addition, the emphasis on presentation, ambiance, and customer experience in the hospitality sector necessitates the use of high-quality and aesthetically pleasing glassware, further boosting demand. As a result, hotels and restaurants constitute a significant market for glassware manufacturers, driving sales and market growth in this end-user segment.
The online retail segment to maintain its leadership status throughout the forecast period
By distribution channel, the hypermarkets and supermarkets segment held the highest market share in 2023, accounting for nearly two-fifths of the global glassware market revenue and is estimated to maintain its leadership status throughout the forecast period. Hypermarkets and supermarkets offer a wide range of glassware products, including tableware, kitchenware, and decorative items, catering to diverse consumer needs and preferences. These retail channels provide a convenient shopping experience, allowing consumers to browse, compare, and purchase glassware products alongside other household essentials in a single location. In addition, promotional activities, discounts, and bulk purchasing options offered by hypermarkets and supermarkets attract price-conscious consumers seeking value-oriented deals. The widespread presence of hypermarkets and supermarkets in urban and suburban areas further contributes to their dominance in the glassware market, capturing a significant share of consumer spending on household goods.
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Asia-Pacific to maintain its dominance by 2035
By region, Asia-Pacific held the highest market share in terms of revenue in 2023 and is expected to dominate the market during the forecast period. The rapid urbanization, rising disposable incomes, and changing consumer lifestyles have led to increased spending on household goods and luxury items, including glassware products. In addition, advancements in glass manufacturing technologies, expanding retail infrastructure, and the presence of key market players contribute to the region's dominance in the glassware market. Moreover, the increasing focus on sustainability and eco-friendly packaging solutions further propels the demand for glassware products in Asia-Pacific, driving market growth and revenue generation in the region.
Leading Market Players: -
- Anchor Hocking Group, Inc
- Anhui Deli daily Glass Co. Ltd
- Arc Online
- Borosil Limited
- Degrenne
- Garbo Glassware
- Glass Tech Life
- Guangzhou Jing Huang Glassware Co, Ltd
- Lenox Corporation
- Libbey Glass LLC
- Lifetime Brands, Inc
- Ocean Glass Public Company Limited
- Shandong Huapeng Glass Co.Ltd.
- Sisecam
- Steelite International
- Taiwan Glass Industry Corporation
- Villeroy & Boch AG
- Zrike Brands.
The report analyses government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights Porter’s five forces analysis to determine the factors affecting the market growth.
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