Glass tableware includes products such as drinking glasses, wine glasses, plates, bowls, and others that are made from various types of glass such as soda-lime glass, borosilicate glass, and crystal glass. Glass tableware products are durable, versatile, and can withstand high temperatures. They are widely used in commercial establishments such as restaurants, cafes, bars, hotels and in households as well.

The global glass tableware market is estimated to be valued at US$ 13.55 Bn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 to 2031.


Key Takeaways

Key players operating in the Glass Tableware Market Size 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., Novellus Systems. The growing tourism and hospitality industry globally is fueling the demand for glass tableware products. Various countries are promoting their tourism sector which is driving the growth of hotels, restaurants, and cafes resulting in increased consumption of glass tableware products. The market players are expanding their manufacturing and distribution facilities globally to cater to the growing demand for glass tableware products from emerging economies of Asia Pacific, Middle East & Africa, and South America regions.

Market drivers

The key driver for the growth of the glass tableware market is the booming tourism and hospitality industry globally. International tourist arrivals have been steadily growing in the past few years. Tourism is a major economic activity globally and many countries are investing heavily in promoting tourism by improving infrastructure and hosting various cultural events. This is contributing to rapid growth of hotels, restaurants and cafes businesses. As glass tableware products are an essential part of table setting in commercial food service establishments, the expansion of hospitality sector is directly increasing the demand for glass tableware products. The aesthetically appealing glass tableware products also enhance the dining experience of customers in hotels and restaurants, thereby driving their preference and consumption.

Current geopolitical situation is impacting the growth of the glass tableware market. Rising geo-political tensions and trade wars between major economies like USA, China and European Union are disrupting global supply chains. This is negatively impacting the export and import of glass tableware between different countries and geographical regions. Manufacturers are facing issues due to rise in import duties and restrictions on cross border movement of goods. Moreover, continuing conflict between Russia and Ukraine is further escalating energy prices in Europe. Since glass manufacturing is an energy intensive process, high energy costs are squeezing profit margins of glass tableware producers in the region. They may be forced to raise product prices, which can dampen demand.

To ensure sustainable growth in such an uncertain geo-political environment, glass tableware manufacturers will need to diversify their supply networks and establish local production facilities in multiple countries. This can help minimize dependence on a single region and mitigate supply chain disruptions caused by geo-political tensions. The companies may also consider developing alternative and affordable energy-efficient manufacturing technologies to reduce reliance on fossil fuels. Adopting automation throughout the production process can boost margins by improving productivity while keeping costs in check. Tapping into fast growing emerging markets in Asia Pacific and Latin America with a strong foothold in local/regional markets can also help glass tableware players withstand impacts of unfavorable global trade dynamics.

In terms of value, the glass tableware market in Europe is currently concentrated in this region. Key factors attributing to its large share include widespread glass making tradition, strong presence of leading manufacturers and high per capita glassware expenditure. However, the Asia Pacific region excluding Japan is expected to witness the fastest growth during the forecast period on account of improving living standards, changing lifestyles and rising affordability in populous countries like China and India. Rapid urbanization and growth in middle class consumers are driving robust demand for elegant glass dinnerware sets and other tableware products.

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