Glassware and Crystalware Global Market Report 2024

The glassware market size has grown strongly in recent years. It will grow from $15.96 billion in 2023 to $17.04 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth observed in the historic period can be attributed to factors such as consumer preferences, economic conditions, cultural influences, market competition, and global trade dynamics.

The glassware market size is expected to see strong growth in the next few years. It will grow to $21.13 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The anticipated growth in the forecast period can be attributed to changing consumer preferences, sustainability trends, the economic outlook, global market expansion, and regulatory changes. Major trends expected in the forecast period include innovations in manufacturing, digitalization and e-commerce, technological advancements, technology integration, and the growth of online retail.

The increasing number of restaurants and hotels is anticipated to fuel the expansion of the glassware and crystalware market in the future. Restaurants and hotels, distinct entities in the hospitality industry, offer food, beverages, and lodging services, utilizing glassware and crystalware for their elegant, durable, and visually enhancing properties in serving beverages and elevating the dining experience. For instance, in August 2023, as reported by the US Bureau of Labor Statistics, the number of establishments in the private industry's food services and drinking places during the 4th quarter of 2022 saw a 4.28% increase to 694,267 compared to 665,736 in the same period in 2021. This indicates a significant rise in the number of restaurants and hotels, thereby propelling the growth of the glassware and crystalware market.

The expanding travel and tourism industry are poised to drive the growth of the glassware and crystalware market in the future. The travel and tourism industry encompasses the global economic sector involving the movement of individuals for leisure, business, or other purposes, along with the associated services and infrastructure supporting these activities. Glassware and crystalware play a vital role in enhancing guest experiences in the travel and tourism industry, adding sophistication and aesthetic appeal to dining and beverage services. For example, in August 2022, the World Travel and Tourism Council reported a 22% increase in the travel and tourism sector's share of the global GDP, reaching 7.6%. Therefore, the expanding travel and tourism industry are contributing to the growth of the glassware and crystalware market.

The glassware and crystalware market's growth is anticipated to face hindrances due to elevated production costs. These costs pose challenges to the industry by compressing profit margins and constraining competitive pricing, potentially resulting in diminished market share and decreased consumer affordability. As of June 2023, glass cutting machines, as reported by Finmodels Lab, a Ukraine-based financial tools provider, incur costs ranging from $500,000 to $1,500,000, encompassing raw materials valued between $100,000 and $500,000, with startup expenses ranging from $1,350,000 to $4,350,000. Consequently, the glassware and crystalware market is experiencing restricted growth due to these high production costs.

Key players in the glassware and crystalware market are strategically focusing on the development of innovative glassware featuring distinctive patterns, such as the Nordic autumn rain design, to broaden the brand's table-setting category and optimize profitability. The Nordic autumn rain pattern, characterized by a sketched, relief-style design inspired by rain phenomena, imparts a sense of silent calm and melancholy. In August 2023, Marimekko, a Finland-based lifestyle design company, introduced the Syksy glassware series, comprising mouth-blown tumblers, goblets, and carafes, showcasing the Nordic autumn rain pattern. This design, stackable and mixable with other Marimekko tableware, enhances the brand's table setting category with a sophisticated touch.

In October 2023, StatLab Medical Products, a US-based developer and manufacturer of medical diagnostic supplies, completed the acquisition of Knittel for an undisclosed amount. This strategic acquisition empowers StatLab to integrate self-manufacturing capabilities for critical glass products, including the renowned StarFrost slide brand, into its product portfolio. Knittel, a Germany-based glassware company, specializes in the manufacturing of glass products.

Major companies operating in the glassware and crystalware market report are Groupe SEB, Schott Zwiesel AG, Fiskars Group, WMF Group, Villeroy & Boch AG, Noritake Co Ltd., Libbey Inc., Lifetime Brands Inc., The Oneida Group Inc., Lenox Corporation, The Denby Pottery Company Ltd., FUSO Glass India Pvt Ltd., Anchor Hocking Company, Baccarat SA, Riedel Crystal, Guy Degrenne SA, WWRD Holdings, Duralex International, Ocean Glass Public Company Limited, The Zrike Company Inc.

North America was the largest region in the glassware and crystalware market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the glassware and crystalware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the glassware and crystalware market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Glassware and crystalware refer to items made from glass that contains a significant amount of lead oxide, contributing to enhanced clarity and brilliance. These items find applications in laboratories for conducting experiments, as well as in the creation of windows and frames.

The main types of glassware and crystalware available on the market include glassware and crystalware. Glassware represents a broad category encompassing items made from glass with varying compositions, serving diverse purposes such as drinking glasses, plates, bowls, and other containers. These items are categorized by price, ranging from low to medium and high, and are utilized in various applications, including tableware, drinking vessels, ornamental and decorative items, among others.

The glassware and crystalware market research report is one of a series of new reports that provides glassware and crystalware market statistics, including glassware and crystalware industry global market size, regional shares, competitors with glassware and crystalware market share, detailed glassware and crystalware market segments, market trends, and opportunities, and any further data you may need to thrive in the glassware and crystalware industry. This glassware and crystalware market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The glassware and crystalware market consists of sales of specialty barware, and drinking glasses. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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