Glass Tableware Market Is Estimated To Witness High
Growth Owing To Increasing Demand For Eco-Friendly

Glass
tableware products such as cups, plates, bowls and others are extensively used
for serving food and beverage at households as well as commercial spaces
including restaurants, cafes, hotels and others. Glass is a highly sustainable
material that can be recycled endlessly without loss of quality. In addition, it
is natural, non-porous and does not absorb odors or flavors unlike plastic and
ceramic tableware. Glass tableware is also preferred for its unique
transparency and aesthetic appearance that adds visual appeal to food
presentation.



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 Dynamics:



The glass tableware market is primarily driven by the increasing demand for
eco-friendly and aesthetically appealing tableware products from both
households as well as commercial sectors. Glass being 100% recyclable is a more
sustainable alternative to plastic and ceramic tableware. In addition, the
trend of visual food presentation is prompting restaurants and cafes to use
transparent glass containers and plates to attract customers. The ability of
glass to retain temperature also makes hot beverages and food look more appetizing
when served in glass tableware. However, the high initial costs of glass
tableware compared to plastic may restrain the market growth.



SWOT Analysis

Strength: Glass tableware products such as glasses, plates and bowls are
affordable, durable and hygienic options. Glass does not absorb odors or
flavors which makes it suitable for serving different types of foods. Glass is
also 100% recyclable which makes it an eco-friendly material. Due to its
non-porous nature, glass tableware products are easy to clean and maintain high
levels of sanitation.



Weakness: Glass is a fragile material and prone to breakage which can lead to
wastage during production, storage, transportation and usage. Cleaning glass
tableware requires more effort compared to plastic or steel tableware.
Repairing or replacing broken glass items results in additional costs for
suppliers and customers.



Opportunity: With rising health concerns, demand for hygienic tableware made
from inert materials like glass is increasing. The glass tableware market can
expand in developing nations in Asia Pacific and Latin America with rapid
urbanization and growth of nuclear families. Eco-conscious customers also
prefer glass over plastic due to its recyclable nature. Innovation of
chip-resistant and durable glass through improved manufacturing can capture new
market segments.



Threats: Plastic tableware offers a cheaper alternative to glass and its demand
is growing due to light weight and durability. Use of plastic is also expanding
due to strict lockdowns and focus on personal hygiene during the COVID-19
pandemic. Economic slowdowns and global recession impacts the discretionary
spending on glass tableware products.





Key Takeaways

The global Glass
Tableware Market Share is expected to witness high growth over the
forecast period due to rising health concerns and focus on hygienic dining
solutions. The market size is projected to reach US$ 11.76 billion by 2024,
registering a CAGR of 8.5% between 2023-2030.



Regional analysis: North America currently dominates the glass tableware market
accounting for over 30% of the global demand in 2023, led by the United States.
The Asia Pacific region is expected to be the fastest growing market for glass
tableware products during the forecast period led by China, India and other
developing Asian countries. Rapid urbanization, rising disposable incomes and
growth in the food & beverages industry are driving sales across Asia
Pacific.



Key players: 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. These leading brands are focusing on
new product development, mergers/acquisitions and global expansion strategies
to consolidate their market position.

For
more insights, read- https://www.pressreleasebulletin.com/glass-tableware-market-trends-size-and-share-analysis/