Glassware Market Size & Growth

1. Important Facts That You Should Know About Glassware Market Size & Growth | Forecast 2022, 2029 Global Glassware Market is Segmented By Product(Flat glass, Container glass, Fiberglass, Specialty glass), By Material( Soda-lime glass, Lead glass, Heat resistant, Others), By Distribution Channel( B2B, E-commerce, Supermarkets/hypermarkets, Specialized stores, Others), By End-User(Hotels & restaurants, Bars & café, Corporate canteens, Household, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029 Market Overview The global "Glassware Market" size was worth US$ YY million in 2020 and is estimated to record significant growth by reaching up to US$ YY million by 2029, growing at a CAGR of YY% within the forecast period (2022-2029). In modern science, glass has evolved from a beautiful aesthetic item to a functional and crucial substance. The potential for the glass production sector has certainly increased as a result of these breakthroughs and revisions. Glass is classified into two basic categories: product and application. Flat, container, fiber, and specialty glasses are among the product segments, while packaging, automotive & transportation, construction, telecommunication, electronics, and others are among the application segments. Since glass is such a versatile material, it has found widespread use in a variety of industries. Apart from packaging, construction, telecommunications, electronics, and other applications, automotive & transportation have been identified as a major contributor to the glass manufacturing industry's growth. Advances in technology, such as pre-regs and fiber roving, have greatly increased the potential of materials. Furthermore, for solutions and other liquids used in laboratories, glassware employed as laboratory apparatus provides a wide range of containment and transport capabilities. Most laboratory glassware is made of borosilicate glass, which is especially tough and can safely store chemicals heated over a flame and acidic or corrosive substances. To avoid chemical residue congealing or hardening, all laboratory glassware should be cleaned immediately after use. Download Free Sample: https://www.datamintelligence.com/download-sample/glassware- market Market Dynamics The growing number of hotels and increasing tourism create immense demand for the glassware market in developing countries. Changing lifestyles and the adoption of luxury home decor items have created vast opportunities for the glassware market to proliferate during the forecast period. The growing number of hotels and increasing tourism create immense demand for the glassware market in developing countries. The hospitality industry can use glass materials with an unpredictable and liquid-like molecular structure (non-crystalline). They have high dielectric strength, are thermally efficient, and are a major driver in the growth of the glassware market. As a result of the significant increase in foreign and domestic travelers over the last several decades, tourism is rising. To accommodate many tourists, the number of luxury hotels in different countries' metropolitan areas and budget hotels is

2. expanding, resulting in increased demand for glassware goods, which is predicted to boost the worldwide glassware market. Furthermore, developing multinational organizations have complemented the development in the hotel industry by providing elegant glasses and plates to business class guests, thus supporting market growth. For instance, in 2019, the tourist business contributed US$8.9 trillion to global GDP, which is a contribution of 10.3%. Amid the worldwide COVID-19 pandemic, however, demand growth slowed to a halt in 2020. Travel and tourism have been among the most hit businesses since the virus first spread, with airlines grounded, hotels closed, and travel restrictions imposed. The pandemic reduced foreign visitor arrivals to a fraction of what they were a year before in the first quarter of 2020. According to the International Air Transport Association's (IATA) financial prediction released in June, airlines are expected to lose $84.3 million globally in 2020, with a net profit margin of -20.1 percent. According to the research, profits would drop 50% from $838 million in 2019 to $419 million in 2020. However, the tourism industry has regained market momentum. It is expected to escalate the industry share in the forecast period leading to creating opportunities for the glassware market in the forecast period. Changing lifestyles and the adoption of luxury home decor items have created immense opportunities for the glassware market to proliferate in the near future. The lifestyles of consumers are continually changing. Existing and new trends and the constantly shifting demographic mix, global cultural upheavals, and rapid technological advancements affect consumer habits and values. The shifting trend of consumers toward urban lifestyles has fueled market expansion due to the increased prevalence of urbanization. A change in lifestyle needs the proper setting of dinnerware and dining around high-end, high-quality products. Consumers' disposable money has risen, raising the level of living of individuals in various locations, which has transformed the consumer's habit of using glassware products daily. Furthermore, the use of glassware items for home décor has increased the demand for glass-based products. For instance, the highly evolved retail structure of North America has lead to an improved home decore market. Furthermore, the market's growth is fueled by a spike in worldwide home decor product adoption due to aggressive advertising and celebrity brand endorsement. Rising consumer spending on home décor products, combined with rising living standards, contributes to the popularity of home decor products in this region. However, due to rapid improvements in retail infrastructure and rising consumer disposable income, Asia-Pacific is predicted to develop at the fastest CAGR during the forecast period. The growing use of low-quality material in glassware has severely hampered the growth of the market. The growing demand for glassware has created immense opportunities for the local players to grow in developing countries. However, the increasing numbers of local players have shown a massive impact on the quality of the product. The local players are offering glassware at a much cheaper rate by using low-quality raw materials for manufacturing glassware. Local players use low-grade raw materials that get easily broken, thus offering less shelf life. In addition, the cost for good quality glassware is very much and hence does not follow the affordability criteria of a middle-class person. Therefore, one of the prime factors creating hurdles for the market's growth in the developing regions. COVID-19 Impact Analysis

3. COVID-19 has severely impacted the glassware sector. For instance, the home decore industry has seen a severe drop due to the pandemic outbreak, which has negatively impacted the demand of the glassware market during the 2019-2020 period. International trade was halted as a result of the pandemic, resulting in a shortage of raw supplies. On the other side, the COVID-19 pandemic disrupted the supply chain. In addition, the majority of manufacturing facilities have ceased operations. However, Government bodies in various regions, on the other hand, are relaxing regulations, allowing them to restart their activities. In addition, as business leaders worldwide grapple with the COVID-19 Pandemic, Glassware market players are seeing a massive drop in online retail sales and traffic at the start of the crisis. However, in recent years, particularly after COVID-19, E-commerce sites have begun to create considerable revenues. The market expansion of online home decor products has also been boosted by the penetration of smartphones and tablets with convenient payment options. Manufacturers are resetting inventory positions by clearing out spring and summer inventories with discounts. In this case, digital marketing is critical for maintaining engagement and increasing online sales, and attracting customers to visit stores in those geographic markets once they reopen. Segment Analysis The global Glassware Market can be segmented on the product, material, distribution channel, end- userand region. Increasing demand for glass in the construction industry of various developing countries such as China creates huge opportunities for flat glass to grow in the forecast period. The global Glassware market-based on a product is segmented into flat glass, container glass, fiberglass, and specialty glass. Out of the mentioned product types, flat glass is expected to hold a promising market share in the forecast period due to increasing demand for glass in the construction industry, where it is used in windows, facades, doors, interior partitions, balustrades, shop fronts, and stair and balcony railings, among other building parts. In addition, the growing demand for electronic displays resulted from rising consumer electronics demand for televisions, smartphones, tablets, laptops, wearables, and other devices. Flat glass is widely utilized in the construction sector due to its wide range of functions, including heat insulation, soundproofing, and safety and solar protection. Flat glass is commonly used in windows in building and construction applications for functional and aesthetic reasons, allowing consumers to see out of the window while also protecting them from the elements such as UV radiation. Self-cleaning glass is one of the latest developments in flat glass. The ultraviolet radiation in sunshine breaks down organic dirt, making it easier to remove. China is the world's largest producer of flat glass, accounting for more than half of the global market. Many Chinese businesses have aimed to produce items that meet Western industrial and environmental requirements. In China, flat glassmakers had to shatter the manufactured flat glass for re-production during the pandemic because glass processing firms did not resume operations, and all domestic and export projects in China were halted. Geographical Analysis With rising demand for attractive and trendy glassware items, the Asia-Pacific region is predicted to develop at the fastest rate during the forecast period of 2022 to 2029

4. The Asia-Pacific region has dominated the global glassware market since hotel and restaurant building in China has skyrocketed. Because of the rising demand for attractive and trendy glassware items, the Asia-Pacific region is predicted to develop at the fastest rate during the forecast period of 2021 to 2028. Due to the easy and advanced manufacture of glassware materials with high-quality raw materials, China is leading the growth of the Asia-Pacific market. Furthermore, the region's high population, combined with strong industrial and economic growth, has increased product demand from all sector verticals. The construction industry mostly drives flat glass demand in the region. Many large firms have built up production operations in China and India because of the lower construction costs. The United States dominates the North American market due to the growing popularity of fine dining. In contrast, Germany dominates the European market due to the changing lifestyles of the country's consumers. Glass demand has been bolstered by the existence of industries such as automotive and aerospace. Due to important worldwide and regional players, the EU is also among the top glass producers. Small-scale manufacturing is also driving demand for glass products in Europe, resulting in a large market share. Small manufacturing businesses have thrived due to strong domestic demand and a stable economic and political environment. Domestic consumption in Europe from developing regions such as Poland and Turkey will supplement Europe's market share compared to other countries. Competitive Landscape The Glassware market is highly competitive with the presence of local and global companies. Some prime companies contributing to the market's growth are Zrike Company, Inc., Villeroy & Boch, Noritake china, Degrenne, Libbey Inc, Lenox Corporation, WMF GmbH, The Oneida Group Inc., Stölzle Lausitz GmbH, Bormioli Rocco S.p.A., Lifetime Brands, Inc., Steklarna Hrastnik, Cumbria Crystal and Fiskars Australia Pty Ltd. and others. The major companies are adopting several growth strategies such as acquisitions, product launches, and collaborations, contributing to the market growth of Glasswareglobally. Why Purchase the Report? • Visualize the Glassware market segmentation by product, material, distribution channel, end-userand region, highlighting key commercial assets and players. • Identify commercial opportunities in the Glassware Market by analyzing trends and co- development deals. • Excel data sheet with thousands of data points of Glassware Market-level 4/5 segmentation. • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study. • Product mapping in excel for the key product of all major market players Target Audience 2022 •Service Providers/ Buyers •Industry Investors/Investment Bankers •Education & Research Institutes •Research Professionals •Emerging Companies

5. •Manufacturers •Logistics companies •Distributors About Us DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year, we have secured more than 100 unique customers from established organizations all over the world. For more information: Sai Kiran Sales Manager at DataM Intelligence Email: info@datamintelligence.com