Global Glass Tableware Market Is Anticipated To Witness High Growth Due To Thermal Resistant Property

Glass Tableware Market 

Overview:

Glass items are also preferred by health-conscious consumers as they do not contain bacteria and can be used for a wide range of purposes such as serving food or drinks. Moreover, glass tableware can be available in various forms such as transparent, colored, and matte. Globally, the demand for glass tableware has been fueled by rising purchasing power among consumers and a shift in consumer preference towards fancy homeware products. The increasing penetration of e-commerce is another factor that will propel product growth in the upcoming years. The internet offers convenient shopping experience and assures safe delivery of the purchased items to the customers, encouraging people to buy glass tableware online. A growing catering and hotel industry at the global level owing to the increased popularity of dining out among working class individuals is expected to boost demand for glass tableware with aesthetic appeal.

Market Dynamics:

Rising adoption of inorganic growth strategies by key players is estimated to augment growth of the global glass tableware market during the forecast period. For instance, Lenox Corporation has assimilated a cutlery manufacturer and flatware Hampton Forge, in January 2021. This deal includes Hampton Forge Portfolio, Argent Orfèvres, Skandia, and Tomodachi by Hampton Forge. Moreover, increasing usage of disposable plates in several restaurants is anticipated to restrain growth of the global glass tableware market during the forecast period.

Impact of COVID-19:

COVID-19 was first reported in 2019 in China. This outbreak was transmitted to other parts of the world in 2020. The pandemic had a significant influence on the growth of many industries. Several industries witnessed a decrease in demand and many industries had to halt their production activities. The pandemic affected the glass tableware market, as there was a drop in demand for glassware. Thus, the pandemic had a negative impact on the growth of the global glass tableware market. However, the market is estimated to witness growth in the post-pandemic era, as all restrictions have been eased.

Key Takeaways:

The global Glass Tableware Market is expected to witness high growth, exhibiting CAGR of 6.10 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Due to increasing acquisitions by key players. For instance, Lenox Corporation acquired Oneida Consumer LLC, in June 2021. Existing Oneida Consumer LLC tabletop products such as flatware, cutlery, and tableware.

Asia-Pacific is anticipated to witness significant growth in the global glass tableware market during the forecast period, due to growing adoption of luxury tableware and rising demand in the region.

Key players operating in the global Glass Tableware Market are World Kitchen LLC, Arc Group, Anchor Hocking LLC, Sisecam Glassware, Borosil, Bormioli Rocco S.p.A., Kavalierglass AS, Lenox Corporation, World Kitchen LLC, The Oneida, LaOpala RG Limited, Ocean Glass Public Company Limited, Tiroler Glashütte GmbH, WMF, and Zhejiang Chengtai Industrial Co., Ltd.