Growing levels of investment in the hotel and catering industry are expected to act as a driver for the growth of theglassware marketin the forecast period. Changes in the lifestyle of the consumers are expected to act as a driver for the growth of the glassware market in the forecast period of 2022-2029. Advancements in glassware production technologies are expected to bring growth opportunities for the glassware market in future.
Data Bridge Market Research analyses that the glassware market is expected to reach the value of USD 1,426,586.81 thousand by 2029, at a CAGR of 5.6% during the forecast period. "soda-lime" accounts for the most prominent material segment as this type of glass provides scratch resistant surfaces. The glassware market report also covers pricing analysis, patent analysis, and technological advancements in depth.
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Market Definition
Glass is a brittle, rigid material that is generally clear or translucent. It might be made of a mixture of sand, soda, lime, or other minerals. The most typical glass formation method involves heating raw ingredients until they become molten liquid, then rapidly cooling the mixture to make toughened glass. Glass varieties may be classified based on their mechanical and thermal qualities to identify which applications are most suited.
Soda lime glass: Soda-lime glass is the most common form of glass used for windowpanes and glass containers such as bottles and jars for drinks, food, and certain commodities items.
Lead Glass: Lead glass is a glass with a high percentage of lead oxide with exceptional clarity and brightness.
Heat Resistant: Heat-resistant glass is intended to withstand heat stress and is commonly used in kitchens and industrial applications.
Glassware Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
- Growing levels of investment in the hotel and catering industry
Tourism has enhanced the business of the hotel and restaurant sector all over the world and provided great scope for the hotel industry. The industry has flourished mainly through tourism and due to diverse landscapes, beliefs, and societies in different countries which provided a great attraction to tourists from different regions. The hotel and catering sectors of many nations have gradually expanded over the last two decades, and development is predicted in the next years, coupled with an increase in demand for various types of glassware goods.
- Changes in lifestyle of the consumers
Consumer lives are constantly evolving. Consumer habits and values are influenced by existing and new trends, as well as the continuously changing demographic mix, worldwide cultural upheavals, and fast developments in technology. Businesses may capitalize on new possibilities by acquiring a deep understanding of customer preferences following shifting behaviours and beliefs. In recent times, consumers from all generations are focusing more on branded products in many areas of their daily lives.
- Rising popularity of fine dining across the globe
A fine dining restaurant is either a specialty or a multi-cuisine establishment that places a premium on quality ingredients, presentation, and impeccable service. The category is increasing at a respectable pace of 15%, which has encouraged the arrival of premium Michelin-starred restaurants and other local competitors. Therefore, the growing demand for fine delicate dining is mainly accomplished by the successful operations of different types of brands of glassware products in hotels and restaurants.
- Availability of cheap quality products
Glass is one of the most complex and adaptable materials, and it is utilized in nearly every industry. The extensive use of glass contributes to the creation of a very hi-tech and modern appearance in both residential and commercial structures. Glass comes in a variety of shapes and sizes to suit a variety of applications and is used in a variety of architectural applications such as doors, windows, and partitions. Glass has come a long way from its humble beginnings as a windowpane to become a sophisticated structural component in the current day.
- Rising demand for steel and paper base drinkware
Paper and plastic are increasingly being used to make disposable plates and glasses, owing to their great environmental performance and rising demand for e-commerce and delivery services. Consumers, brands, and retailers all have high expectations for recyclable paper-based goods. The recycling rate of paper-based materials is around 85 percent, and the paper value chain is improving day by day. To reach even higher recycling objectives while extending the usefulness of paper-based packaging, it is critical, to begin with, the design phase, taking into account both the intended purpose and the end-of-life.
Asia-Pacific Glassware Market Scope
Theglassware marketis segmented based on material, style, distribution channel, price range, and end-use. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
By Material
- Soda Lime Glass
- Lead Glass
- Heat Resistant
- Others
Based on material, the glassware market is segmented into soda lime glass, lead glass, heat resistant, and others.
By Style
- Stemless Glass
- Stemware
- Everyday Usage
- Others
Based on style, the glassware market has been segmented into stemless glass, stemware, everyday usage, and others.
By Distribution Channel
- B2B
- Specialized Stores
- Supermarkets/Hypermarkets
- E-Commerce
- Others
Based on distribution channel, the glassware market has been segmented into b2b, specialized stores, supermarkets/hypermarkets, e-commerce, and others.
By Price Range
- Medium
- Premium
- Economy
Based on price range, the glassware market has been segmented into medium, premium, and economy.
By End-Use
- Hotels Restaurants
- Bars Cafe
- Household
- Corporate Canteens
- Others
Based on end-use, the glassware market has been segmented into hotels restaurants, bars caf, household, corporate canteens, and others.
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Glassware Market Regional Analysis/Insights
The glassware market is analysed and market size insights and trends are provided by country, material, style, distribution channel, price range, and end-use as referenced above.
The countries covered in the glassware market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Hong Kong. Taiwan, Myanmar, Laos, Cambodia. Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
China dominates the Asia-Pacific glassware market. China is likely to be the fastest-growing Asia-Pacific Glassware market. The rising infrastructure, commercial, and industrial developments in emerging countries such as China, Japan, India, and South Korea are credited with the market's dominance. With the increasing development in the countries number of restaurants and bars is increasing, which will boost the demand for glassware products in the Asia-Pacific region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Glassware Market Share Analysis
The glassware market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to glassware market.
Some of the major players operating in the glassware market are Hrastnik1860, Oneida, Noritake China, Ocean Glass Public Company Limited, Lenox Corporatio, Treo.in, Libbey Inc, Fiskars Group, WMF (A Subsidiary of Groupe SEB), Lifetime Brands, Inc, Villeroy Boch, Bormioli Rocco S.p.A., Wonderchef Home Appliances Pvt. Ltd., The Zrike Company, Inc, Shandong Hikingpac Co., Ltd., Addresshome, Stlzle Lausitz GmbH, Eagle Glass Deco (P.) Ltd., Degrenne. Cello World, MYBOROSIL, Jiangsu Rongtai Glass Products Co., Ltd., Cumbria Crystal, Garbo Glassware.
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