Glass tableware such as glasses, bottles, plates, bowls etc. are used for serving and consuming food and beverages. Glass tableware provides hygienic and transparent view of the contents. The glass material makes tableware durable and reusable as compared to plastic. Moreover, glass does not alter the taste or smell of the food. The global glass tableware market is estimated to be valued at US$ 11.76 Bn in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
Surging Demand from Food & Beverage Industry: The key trend fueling the growth of the global glass tableware market is the surging demand from the food and beverage industry. Glass tableware is widely preferred for serving food and beverages in restaurants, cafes, hotels, pubs, and other food joints. Glass does not absorb odors or tastes and provides transparency to view the contents. Most importantly, glass is durable and easy to clean, making it suitable for commercial foodservice applications. The growing food & beverage industry worldwide has augmented the consumption of glass tableware over the years.
Segment Analysis
The global glass tableware market is dominated by glass plates sub segment. Approximately 30-35% of total market revenue is generated from sales of glass plates as they are most commonly used tableware in household and commercial segment like restaurants, cafes etc. Glass plates are affordable, easy to clean and maintain which makes them preferred choice for daily use.
Key Takeaways
The global Glass Tableware Market Share is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising disposable income and growing consumer preference for eco friendly and sustainable tableware solutions. Regional analysis
Regional analysis: North America currently dominates the global glass tableware market accounting for over 25% revenue share. Growth in the region is driven by high adoption of glass tableware among middle and upper class households as well as Food & Beverage industry in countries like United States and Canada. Availability of wide range of designer and customized glass tableware further supplements market growth. Asia Pacific is expected to emerge as the fastest growing regional market owing increasing demand from countries like China, India and Southeast Asian countries supported by rising affluence, positive consumers sentiments and rapid infrastructure development.
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 market is highly competitive with these players introducing innovative and customized glass tableware to attract wider consumer base.
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