Glassware Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON, UK, June 26, 2024 /EINPresswire.com/ -- The glassware market, encompassing a diverse range of glass products used in kitchens, laboratories, and households, has experienced robust growth in recent years. Starting from $15.96 billion in 2023, it is projected to grow to $17.04 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.8%. It will grow to $21.13 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. This growth trajectory can be attributed to various factors such as consumer preferences, economic conditions, cultural influences, market competition, and global trade dynamics.

Cafes and Bars Driving Market Growth
The proliferation of cafes and bars worldwide has significantly boosted the demand for glassware. These establishments rely on glassware to serve a variety of beverages, enhancing the sensory experience for patrons and maintaining drink quality. As of 2024, the U.S. is expected to have approximately 69,485 registered bars, marking a 1.5% increase from 2022. This trend is anticipated to continue propelling the glassware market forward.

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Urbanization Accelerating Market Expansion
The accelerating rate of urbanization globally is another key driver of the glassware market. Urbanization trends influence consumer lifestyles, aesthetic preferences, and the demand for diverse culinary experiences, all of which contribute to the increased adoption of glassware in urban areas. By 2021, the share of the global urban population had risen to 56.5%, with Africa seeing a notable 4.6% increase in the same period, underscoring the growing urban demand for glassware.

Major Players and Market Trends
Leading companies in the glassware market, such as Groupe SEB SA, Arc International Tableware UK Ltd., and Lenox Corporation, are focusing on innovation to expand their product offerings. For instance, Marimekko Oyk introduced the Syksy Nordic autumn rain pattern glassware series in August 2023, featuring designs inspired by the Nordic autumn rain, catering to both aesthetic and functional demands.

Key Market Segments
• Material: Soda Lime Glass, Crystal Glass, Borosilicate Glass, Heat Resistant Glass
• Price Point: Premium, Medium, Economy
• Distribution Channel: Business-To-Business (B2B), E-Commerce, Supermarkets And Hypermarkets, Specialized Stores, Other Distribution Channels
• End-User: Households, Hotels And Restaurants, Corporate Canteens, Cafe And Bars, Other End-Users

Asia-Pacific Leading Market Growth
Asia-Pacific emerged as the largest region in the glassware market in 2023 and is expected to continue leading with the fastest growth rate in the forecast period. Detailed insights into regional dynamics and growth opportunities are available in the comprehensive report.

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Glassware Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Glassware Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on glassware market size, glassware market drivers and trends, glassware market major players, competitors' revenues, market positioning, and market growth across geographies. The glassware market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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