The Glassware And Crystalware Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s 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 in the historic period can be attributed to consumer preferences, economic conditions, cultural influences, market competition, 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 growth in the forecast period can be attributed to changing consumer preferences, sustainability trends, economic outlook, global market expansion, regulatory changes. Major trends in the forecast period include innovations in manufacturing, digitalization and e-commerce, technological advancements, technology integration, online retail growth.
The rising number of restaurants and hotels is expected to propel the growth of the glassware and crystalware market going forward. Restaurants and hotels are two distinct types of establishments within the hospitality industry, that provide food, beverage, and accommodation services to customers. Restaurants and hotels use glassware and crystalware for serving beverages and enhancing the dining experience due to their elegance, durability, and ability to complement the presentation of food and drinks. For instance, in August 2023, according to the US Bureau of Labor Statistics, a US-based federal fact-finding agency, the number of establishments in food services and drinking places in private industry for the 4th quarter of 2022 was 694,267, an increase of 4.28% compared to 665,736 during the same period in 2021. Therefore, the rising number of restaurants and hotels is driving the growth of the glassware and crystalware market.
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The glassware and crystalware market covered in this report is segmented –
1) By Type: Glassware, Crystalware
2) By Price: Low, Medium, High
3) By Application: Tableware, Drinking Vessels, Ornamental And Decorative, Other Applications
Major companies in the glassware and crystalware market are focused on developing innovative glassware that features patterns, such as the Nordic autumn rain pattern, to expand the brand’s table-setting category and maximize their profits in the market. The Nordic autumn rain pattern is a sketched, relief-style design inspired by rain phenomena, bringing a touch of silent calm and melancholy. For instance, in August 2023, Marimekko, a Finland-based lifestyle design company, launched the Syksy glassware series, including mouth-blown tumblers, goblets, and carafes. The design features a Nordic autumn rain pattern in a sketched, relief style, bringing a sense of calm and melancholy to the functional glassware. The pieces, stackable and mixable with other Marimekko tableware, offer a sophisticated addition to the brand’s table setting category.
The glassware and crystalware market report table of contents includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
……..
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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