The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Glass Dinnerware market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Glass Dinnerware
The report offers actionable and valuable market insights of Glass Dinnerware. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Glass Dinnerware Market across various industries and regions.
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The glass tableware market revenue totaled US$ 10 Bn for 2020, according to Fact. MR. Sales are expected to reach nearly US$ 16 Bn by 2031, expanding 1.4x from 2021 to 2031. The demand for glass tableware at luxury hotels is projected to accelerate with the top 5 providers holding a major chunk of the revenue across the assessment period of 2021.
Glass Tableware can be used in a variety of applications, both domestic and commercial. Typically, they are used either for dining or sipping drinks at the table. There is intensifying competition for domestic glass products in the global as well as the domestic market.Technologies of the future are becoming increasingly important to manufacturing. Fiberglass composites are being manufactured using modern methods and technology. As a result of growing petrochemical and allied industries, fiberglass demand is also on the rise. By 2031, the market is expected to reach US$ 15.9 Bn, expanding at a CAGR of 3.8%.
This newly published and insightful report sheds light on Market Insights of Glass Dinnerware, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Glass Dinnerware Market.
Segmentation by Category
- Beverage Ware
- North America
- Latin America
- Middle East and Africa (MEA)
- East Asia
- South Asia
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Key Takeaways from Market Study
- High requirement from commercial sector to fuel sales
- Household application of glass tableware to exhibit fastest growth
- Offline stores to remain the most sought-after distribution channel
- The United States to hold the largest share of the world’s leading glass tableware industry – North America
- Germany to remain the epicenter of Europe’s glass tableware industry
- The market in Asia Pacific to register fastest growth through 2031, with China, India, and a few other lucrative markets at the forefront
- Japan, the United Kingdom, France, Canada, South Korea, and a few other countries to maintain positive industry outlook throughout the forecast period
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Despite fragmentation, there is cut-throat competition within the global glass tableware landscape. Key players are expanding the range and quality of their products to remain competitive in the market.
- On 29th, January 2021, Pyrex, an international cookware company completed an acquisition of Duralex. As a major French manufacturer, the firm hopes to mark its presence in the international cookware industry through this acquisition and become a leader in the kitchen tableware and glassware markets.
- By 2024, the firm will invest an additional 17 euro million to improve Duralex’s productivity, increase standardization, and invest in innovation.
- On January 4th, 2021, Lenox Corp. acquired flatware firm, Hampton Forge. The acquisition of Hampton Forge encompasses the full Hampton Forge portfolio of products, including Hampton Forge, Tomodachi, Skandia, Hampton Forge Signature, and Argent Orfèvres.
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