Transparent Glass Tableware Market Intelligence Study for Comprehensive Insights till 2031

About the Report

The glass tableware industry is highly progressive, as demand for a variety of dinnerware, beverage ware, and others has maintained steady growth over the past decade. While the outbreak of COVID-19 impacted market revenue unprecedentedly in 2020, recovery started since the last quarter of the year.

As both, online and offline distribution channels are gaining momentum once again, manufacturers are expecting higher growth scope in the near future. Demand is especially high for dinnerware across regions, which is a major driving factor for market growth.

For detailed insights on enhancing your product footprint, request for a sample here@ https://www.factmr.com/connectus/sample?flag=S&rep_id=5644

The latest report on glass tableware by Fact.MR offers a detailed analysis on the main trends, drivers, and restraints in the market, with special emphasis on key regions such as North America, Europe, and Asia Pacific, for the forecast period of 2021 to 2031.

Historical Vs. Future Outlook on Glass Tableware

Demand for glass tableware has gained traction in the past years owing to high requirement for household glass dinnerware, commercial beverage ware, and others. With manufacturers focusing on quality and other sought-after properties such as light weight, non-reactive, and cost-effective, they have came across higher revenue streams over the past decade.

Overall market outlook for glass tableware remained positive during the last 5 years from 2016 to 2020, except a temporary decline in 2020 due to COVID-19.

With the food & beverage and other commercial sectors adopting new norms and set to expand again, manufacturers of glass tableware are anticipated to gain higher profit margins over the coming years. Furthermore, steady demand from the hotel and catering sector is expected to fuel sales further. According to Fact.MR, the global glass tableware market is expected to ascend at over 3% CAGR through 2031.

Why is Demand for Dinnerware High?

Dinnerware has huge demand in diverse commercial sectors, starting from restaurants to catering services. As a result, high requirement for dinnerware has major contribution to the demand growth for glass tableware.

As stated in a report titled “Travel, Tourism & Hospitality Industry Spotlight”, published by Select USA, the U.S. travel & tourism industry generated over US$ 1.6 trillion in economic output in 2017, while supporting 7.8 million U.S. jobs. This industry, being deeply connected with the hotel industry, is indirectly fuelling the sales of glass tableware, especially dinnerware, which is extensively used in this secto

r. Though the hospitality industry suffered severely during the COVID-19 outbreak, it has started recovering and is expected to have substantial contribution to industry growth in the near future.

What are the Key Challenges Faced by Glass Tableware Manufacturers?

Some of the restraining factors affecting demand for glass tableware are-

Quality issues in terms of durability and composition
Constraint to maintain permanent residual stress
Difficulties in identifying and rectifying flaws
Also, glass tableware requires special attention during its transition to keep it intact, which incurs additional costs. It is also not suitable for one-time usage. Hence, plastic, metal, and other materials are often preferred by consumers, which is a major challenge for manufacturers.

However, with continuous efforts, adoption of strategic approaches, and increased research & development (R&D) activities by manufacturers, they are expected to overcome these restraints in the near future.

glass tableware market
Country-Wise Analysis

What are the Major Driving Factors for Glass Tableware in the United States?

The United States has been contributing significantly in raising the revenue of the North America glass tableware market since the past decade. Highly advanced commercial sector and growing demand from the household sector are expected to keep the U.S in the leading position during the forecast period.

For critical insights on this market, request for methodology here@ https://www.factmr.com/report/glass-tableware-market/toc

According to a report published by the United States Bureau of Labor Statistics, in the U.S, the leisure and hospitality supersector is part of the service-providing industries supersector group, and is highly progressive. As stated in the report, gross job gains in this sector increased to 1,660 in the 1st quarter of 2020 as compared to 1,409 in the 3rd quarter of 2019.

This indirectly indicates high demand from the commercial sector in the United States. However, the impact of COVID-19 on the U.S. hospitality industry is expected to be long-lasting, and full recovery is not likely to be achieved until late 2022. This, in turn, will have an impact on the demand for glass tableware, while rising demand from the household sector will help manufacturers widen their growth scope.

Why is the Demand-Supply Trajectory for Glass Tableware Exhibiting Rapid Growth in Germany?

Backed by highly developed manufacturing units and steadily rising demand from the household sector, Germany is a hotspot for glass tableware manufacturers. According to Fact.MR, Germany will dominate the Europe glass tableware industry through 2031.

According to a report titled “Germany Food Service- Hotel Restaurant Institutional”, published by USDA Foreign Agricultural Services in 2019, with an estimated 83 million wealthy consumers, Germany is the largest industry for food and agricultural products in the European Union (EU), while the three major segments in this industry are hotels, restaurants, and catering/institutional.

As stated in the report, in 2018, Germany food services sales increased by 3.1% to reach US$ 99.01 billion. This data not only depicts the potential of German restaurants and catering industry but also indicates huge growth scope for glass tableware manufacturers in the country. However, these sectors declined temporarily in 2020, but are expected to recover fully in the near term, paving new growth paths for stakeholders.

How Lucrative is the Opportunity for Glass Tableware Suppliers in China?

The world’s fastest-growing glass tableware industry – Asia Pacific – is majorly driven by high demand in its leading country – China. Well-developed manufacturing infrastructure, increase in per capita expenditure, and government investments in food & beverage and hotel & catering sectors are spurring market growth in China.

According to a report titled “Overview of China’s Food and Beverage Market”, published by the Trade Commissioner Service on 1st November 2019, in the year 2017, China imported 53.48 million tons of food & beverages with a total value worth US$ 58.28 billion, representing 36.5% and 25% year-on-year growth, respectively. As per the report, in the years 2013 to 2017, the average annual growth rate of imported food trade in China remained 5.7%.

Though the situation changed drastically in 2020, being a progressive industry, it’s getting back to its feet gradually, and the hotel, catering, and restaurants industry is expected to exhibit significant recovery and growth over the coming years. This, in turn, will favor glass tableware manufacturers in country.

Why is Japan an Important Market for Glass Tableware Manufacturers?

Japan is a highly lucrative market for glass tableware, and is expected to draw the attention of stakeholders over the coming years. As demand for dinnerware and beverage ware is forecast to rise again, key players are adopting strategic approaches in order to increase their sales footprint in the country.

To get all-in insights on the regional landscape of the keyword market, buy now@ https://www.factmr.com/checkout/5644/S

As stated in a report titled “Japan’s Hotel Industry”, published by the Japanese Economy Division, Japan’s hotel industry is highly advanced, and despite getting battered by the pandemic, it holds high potential to grow further. According to the report, the hotel industry has various divisions, making it one of the largest industries in Japan –

Luxury hotels
City hotels
Community hotels
Accommodation specific hotels
Business hotels
Capsule hotels
This not only implies a well-defined hotel sector but also new opportunities awaiting glass tableware manufacturers in Japan.

Category-Wise Insights

Why Does Dinnerware Account for Major Market Revenue Share?

Presently, dinnerware has high demand in the global glass tableware market, and accounts for a major share of revenue. Dinnerware is highly sought-after in-

hotels
restaurants
catering services
households
parties and events
As a result, this segment, followed by beverage ware, is expected to fuel sales in the near future.

How is the Commercial Sector Bolstering Market Growth?

Various glass tableware are hugely demanded in the commercial sector, such as in the hospitality industry, hotels, restaurants, during various commercial events, and others. As such, this segment is substantially aiding the growth of glass tableware manufacturers.

Another key segment in terms of application is household, which will complement the growth of suppliers further through 2031.

Why are Offline Store Popular for Glass Tableware?

Currently, offline stores are dominating as far as sales of glass tableware are concerned, and are anticipated to sustain their position throughout the forecast period. There are various advantages of purchasing from offline stores, which makes this a highly sought-after sales channel among end users, such as-

more reliable
easier in terms of quality check
no added costs or overhead of transition
Online stores is the other key segment gradually gaining ground and fuelling the sales of glass tableware around the world.

Competitive Landscape

The global glass tableware market space is fragmented in nature, and sees cut-throat competition amongst players. In order to remain in an advantageous position, key players are launching a wider variety of quality products.

For instance,

Recently, Sisecam Group launched its new sustainable range of glass dinnerware, beverage ware, and others with the sustainable strategy ‘Care for Next’, which is driven by UN sustainability development goals.
Libbey Inc. launched its new Vintage Collection of Drinkware, Stemware, Serveware, and others, a couple of years back, in order to target diverse end users.
Some of the key players supplying glass tableware are-

Lenox Corporation
World Kitchen LLC
ARC International S.A.
Anchor Hocking LLC
Sisecam Group
Libbey Inc.
Borosil Glass Works Ltd.
Bormioli Rocco Group
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

About Fact.MR

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise.

Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.

Contact:

Fact.MR
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: sales@factmr.com

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates

Hinterlasse jetzt einen Kommentar

Kommentar hinterlassen

E-Mail Adresse wird nicht veröffentlicht.


*


Durch die weitere Nutzung der Seite stimmst du der Verwendung von Cookies zu. Weitere Informationen

Die Cookie-Einstellungen auf dieser Website sind auf "Cookies zulassen" eingestellt, um das beste Surferlebnis zu ermöglichen. Wenn du diese Website ohne Änderung der Cookie-Einstellungen verwendest oder auf "Akzeptieren" klickst, erklärst du sich damit einverstanden.

Schließen