The Glassware Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Glassware Global Market Report 2024, The glassware and crystalware market size has grown steadily in recent years. It will grow from $8.61 billion in 2023 to $9.01 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to gaming industry growth, artificial intelligence (ai) and machine learning (ml), virtual reality (vr) adoption, cryptocurrency mining boom, pc gaming renaissance.
The glassware and crystalware market size is expected to see steady growth in the next few years. It will grow to $10.4 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%. The growth in the forecast period can be attributed to 8k gaming and high-resolution displays, ai-powered graphics enhancement, augmented reality (ar) and mixed reality (mr), energy efficiency and sustainability, edge computing and cloud gaming. Major trends in the forecast period include global digitization initiatives, ray tracing technology, technological advancements: digital content creation, ray tracing technology advancements.
The growing penetration of cafes and bars is driving the growth of the glassware market. A café and a bar are two distinct types of establishments that serve food and beverages, each with its own unique characteristics and atmosphere. Glassware is used in cafes and bars to serve a wide variety of beverages, including cocktails, wines, beers, and non-alcoholic drinks, enhance the sensory experience, maintain drink quality, and contribute to the overall atmosphere and identity of the establishment. For instance, in October 2021, according to reports shared by Starbucks Corporation, a US-based coffeehouse company, Starbucks achieved significant growth in Q4 of fiscal year 2021 by opening 538 new stores, marking a 4% increase compared to reach 33,833. Furthermore, in 2024, according to Budget Branders, a US-based restaurant supply store, there will be roughly 69,485 registered bars in the US, representing a 1.5% growth from 2022. Therefore, the growing penetration of cafes and bars is expected to propel the growth of the glassware market.
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The glassware market covered in this report is segmented –
1) By Material: Soda Lime Glass, Crystal Glass, Borosilicate Glass, Heat Resistant Glass
2) By Price Point: Premium, Medium, Economy
3) By Distribution Channel : Business-To-Business (B2B), E-Commerce, Supermarkets And Hypermarkets, Specialized Stores, Other Distribution Channels
4) By End-User: Households, Hotels And Restaurants, Corporate Canteens, Cafe And Bars, Other End-Users
Major companies in the glassware market are focused on developing innovative glassware, such as the Syksy Nordic autumn rain pattern glassware, to expand the brand’s table-setting category, which is inspired by the autumn rain. This series combines functional shapes with a drawn pattern reflecting the Nordic autumn rain, from a gentle drizzle to powerful downpours. For instance, in August 2023, Marimekko Oyk, a Finland-based fashion and lifestyle company, launched the Syksy glassware series, including mouth-blown tumblers, goblets, and carafes. The glassware features a drawn pattern inspired by the Nordic autumn rain, from a gentle drizzle to drenching downpours. The pieces, stackable and mixable with other Marimekko tableware, offer a sophisticated addition to the brand’s table setting category.
The glassware market report table of contents includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
……..
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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