by Glass tableware such as glass bottles, glass jars, glass tumblers, and glass plates are highly preferred among consumers and manufacturers owing to their shatter-resistant and affordable nature. Glass tableware offers durability and sustainability advantages over plastic alternatives. The increasing concerns regarding plastic waste and microplastics leaching into the environment has prompted consumers and regulatory authorities to promote the use of environment-friendly alternatives. Glass being completely recyclable meets this demand as recycled glass can be reused indefinitely without compromising quality. Glass tableware finds wide applications in packaging food items, preserving beverages, serving meals, and storing leftovers. The global glass tableware market offers various designs, styles, and colors suited for both residential and commercial purposes.
The global Glass Tableware Market is estimated to be valued at US$ 11.76 Bn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the Glass Tableware Market Share is the increasing demand for specialized and customized glass tableware products. Glassware manufacturers are focusing on delivering unique designs, styles, motifs, and personalized engravings to attract modern consumers and stand out from competition. Customized glass tableware with company logos, special occasion print, and personalized messages have become popular gifts and party favors. Laser engraving technology enables precise and high-definition printing on glass surfaces without using ink which is driving the customized glassware demand. Furthermore, the rising popularity of home décor and artisanal glassware is another major trend as consumers spend heavily on aesthetically pleasing dinner sets, glasses, and containers reflecting their style and personality.
Porter’s Analysis
Threat of new entrants: Low capital requirement and availability of raw materials pose moderate threat of new entrants in the glass tableware market.
Bargaining power of buyers: Large buyers such as supermarkets and hypermarkets have significant bargaining power over manufacturers due to the fragmented nature of the market.
Bargaining power of suppliers: The market is dominated by a handful of raw material suppliers giving them higher bargaining power over glass tableware manufacturers.
Threat of new substitutes: Products made of metal, plastic and ceramic pose threats as substitutes to glass tableware to a certain extent based on functionalities and price points.
Competitive rivalry: The global glass tableware market is moderately competitive due to presence of numerous regional and international players offering varied product portfolios.
Key Takeaways
The global glass tableware market is expected to witness high growth.
Regional Analysis: The Asia Pacific region currently dominates the global glass tableware market owing to high consumption in China, India and other developing nations. Wide product availability, increasing disposable incomes and transition towards nuclear families are factors driving market growth in the region.
Key players operating in the glass tableware market are Brooks Automation Inc., Entegris Inc., Tokyo Electron Limited, Lam Research Corporation, ASML Holding N.V., Applied Materials Inc., Hitachi High-Tech Corporation, AMAT Applied Materials AG, KLA Corporation, Mattson Technology Inc., Tokyo Seimitsu Co. Ltd., Advantest Corporation, Ultratech, MKS Instruments Inc., and Novellus Systems. The key players focus on new product launches catering to changing consumer preferences. They also engage in strategic collaborations with regional players to expand geographic footprint.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
