Glass Tableware Market Anticipated to Reach $15.36 Billion by 2028

Dublin, Jan. 03, 2025 (GLOBE NEWSWIRE) -- The "Glass Tableware Market Report 2024" report has been added to ResearchAndMarkets.com's offering.

The glass tableware industry is currently experiencing a significant upswing, with the market poised for strong continued growth. The latest analysis indicates that the market size, which stood at $11.13 billion in 2023, is projected to ascend to $11.85 billion in 2024, representing a robust 6.4% CAGR. This upward trajectory is expected to maintain momentum, setting the stage for the market to burgeon to an estimated $15.36 billion by the year 2028 with a 6.7% CAGR.

Market Dynamics

The recent expansion of the glass tableware market can be attributed to a confluence of factors which include the increasing consumer preference for durability and style in tableware, the surge in eco-conscious material choices, intensified exposure through lifestyle media, proliferating trade exhibitions, and a bustling landscape of eateries and hospitality establishments. The ongoing boom in the global hospitality industry, along with the rising urban populations and a swelling demand for premium tableware options, are seen as key drivers that will fuel future market growth. Players in the marketplace are also capitalizing on emerging trends such as technological innovation, minimalist design aesthetics, and luxury packaging to attract a contemporary consumer base.

Strategic Industry Developments

Leading entities within the glass tableware sphere are strategically focusing on the introduction of innovative products, including embossed tableware offerings, which are in alignment with current consumer trends. Such creativity not only entices consumers through new aesthetic appeals but also reinforces product durability and functionality.

Furthermore, significant movements within the industry, such as International Cookware SAS's acquisition of Duralex, showcase a commitment to quality improvement and market reach expansion. This trend of acquisitions and partnerships is anticipated to continue as prominent brands solidify their market positions and broaden their product assortments.

Regional Market Analysis

The Asia-Pacific region was identified as the most substantial contributor to the market gains in 2023. Looking ahead, this region is also projected to be the fastest-growing segment in the forecasted period, further cementing its pivotal role in the global market. Countries such as China and India are expected to lead the charge, with their expansive populations and rapidly developing hospitality sectors.

Conclusion

The glass tableware market research underscores the industry's growth potential and highlights the strategic moves by key players to sustain and augment their market presence. The industry's trajectory is steeped in innovation and sophistication, aiming to merge tradition with modern trends to meet the evolving consumer palette. As consumer behaviors continue to incline towards sustainability, quality, and aesthetic appeal, the market is set to progress, heralding an era of unparalleled growth and dynamism in the glass tableware industry.

This comprehensive market observation offers pivotal insight into the current state and future outlook of the glass tableware industry, taking into account a wide spectrum of factors that contribute to its flourishing global presence.

Key Attributes:

The major companies profiled in this Glass Tableware market report include:

• Saint-Gobain S.A.

• Spiegelau GmbH

• AGC Inc.

• Arc International S.A.

• Nippon Sheet Glass Co. Ltd

• Riedel Crystal

• Taiwan Glass Industry Corporation

• Moser a.s.

• Fiskars Group

• Corelle Brands LLC

• Villeroy & Boch AG

• Libbey Inc.

• Anchor Hocking, LLC

• Vitro S.A.B. de C.V.

• Steklarna Hrastnik d.o.o.

• Dartington Crystal Ltd.

• Bormioli Rocco S.p.A.

• Orrefors Kosta Boda AB

• Krosno Glass S.A.

• Waterford Crystal Limited

• Pasabahce Cam Sanayi ve Ticaret A.S.

• La Rochère SAS

• Bohemia Crystal

• Zwiesel Kristallglas AG