Fact.MR’s recent report on the glass tableware market forecasts a positive outlook, with an expected CAGR of 3.8% and a value of US$ 15.9 Bn by the end of the 2021-2031 forecast period. As of 2021, the market is expected to be valued at US$ 11.6 Bn, as consumers incline towards purchasing more aesthetically pleasing and durable crockery.
From 2016 to 2020, sales of glass tableware increased at a modest 3% value CAGR, to be valued at US$ 10 Bn by the end of the aforementioned historical period. During the COVID-19 pandemic, restrictions on dining across commercial settings to enforce social distancing, demand fell significantly across the sector. However, residential grade glass tableware experienced an uptick in sales, as consumers sought to stimulate outdoor eating environments.
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Glass Tableware Market Segmentation
- North America
- East Asia
- South Asia
- Latin America
- Middle East & Africa
- Dinner Glass Tableware
- Beverage Glass Tableware
Key Takeaways from the Market Study
- By distribution channel, offline sales to retain dominance, yielding 80% revenue
- Dinnerware to remain most sought after, accounting for more than 2 out of 5 sales
- Commercial glass tableware to comprise 3/4th of global market revenue through 2031
- Sales of glass tableware via online distribution channels to surge at over 7% CAGR
- Sales across North America comprised 15% of the global market share as of 2019
- Germany to experience an expansion of 3.6% value CAGR in glass tableware sales
- 1/3rd of global glass tableware demand to be stimulated across Asia
“An amalgamation of aesthetics and need for durable crockery material is prompting increased usage of glass tableware across residential as well as commercial settings, prompting numerous innovations in the market,” says the Fact.MR analyst
Strategic collaborations can increase the revenue and market share of glass tableware. New technologies and products allow manufacturers to expand into new markets.
- On June 3, 2021, Lenox Corporation, a leading supplier of tableware, giftware, and home entertaining products acquired Columbus-based Oneida COnsumer. This acquisition includes all existing Oneida Consumer branded tableware products including flatware, cutlery, and dinnerware products.
- ARC International has announced its new technical partnership with the UK’s Reproflex3 Ltd to provide the Americans with VORTEX print technology. The partnership aims to address the rapid increase in demand for premium graphics for corrugated packaging across all FLUTE lines and across the entire FLUTE territory. The company manufactures anilox rollers and provides products and services to the flexographic printing industry from sites in NC, Charlotte, and Las Vegas, NV.