increasing hospitality and tourism industry in europe is driving the Glass Tableware Market in Europe
Technavio analyzes that the Glass Tableware Market in Europe is expected to grow at a CAGR of 2.99% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 416.22 million.There are various factors that contribute to the growth of the market. The European glass tableware market is experiencing significant growth, driven primarily by the burgeoning hospitality and tourism sectors. With the increasing number of tourists and travelers, the demand for high-quality and aesthetically pleasing glass tableware is on the rise. European manufacturers are capitalizing on this trend by producing innovative and design-forward products to meet the needs of hotels, restaurants, and other establishments. This growth is expected to continue as the hospitality industry in Europe continues to expand and evolve.
The European glass tableware market, particularly the beverageware segment, is experiencing significant growth due to various factors. Urbanization and the rise of the hotel and catering industries have led to an increase in demand for high-quality glassware. Furthermore, the proliferation of social media and e-commerce platforms has made it easier for consumers to discover and purchase specialized glassware for various beverages. Specialty beverages, such as artisanal coffees, craft beers, and cocktails, are gaining popularity among European consumers. Brands like Riedel of Tiroler Glashutte GmbH and Bayerische Glaswerke GmbH are renowned for their specialized glassware, which not only enhances the aesthetic appeal of these beverages but also optimizes their tasting experience. Raw materials, such as soda ash and dolomite, are essential inputs in the production of glassware. The availability and cost of these raw materials can significantly impact the pricing and profitability of glass tableware manufacturers in Europe. In summary, the European glass tableware market, specifically the beverageware segment, is witnessing robust growth due to urbanization, the expansion of the hotel and catering industries, the rise of e-commerce and social media, and the increasing popularity of specialty beverages. Brands that offer specialized glassware that enhances the drinking experience are well-positioned to capitalize on these trends.
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Glass Tableware Market in Europe Segmentation
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The European glass tableware market is driven by various factors including the increasing demand for tableware in residential and commercial sectors, influenced by changing lifestyles. Commercial sectors, particularly the hospitality industry, including bars, pubs, and hotels, contribute significantly to the market. Events such as royal weddings, heatwaves, and the Football World Cup boost product demand. Wine consumption, represented by the Wine and Spirit Trade Association (WSTA), also plays a role. Lead and cadmium are concerns in the industry, while direct-to-consumer business models, social media, and e-commerce are emerging trends. Urbanization, the hotel industry, and the catering industry are key end-users. Raw materials like soda ash and dolomite are essential inputs.
The European glass tableware market is a segment of the larger global housewares and specialties market, which encompasses cookware, bakeware, tableware, kitchen electrics, and kitchen tools and accessories. According to Technavio, the global household durables market, which includes the revenues of manufacturers in this sector, is experiencing growth due to several factors. One significant driver is the introduction of houseware with innovative designs and vibrant colors, aligning with consumers' preferences for stylish and distinctive kitchenware in residential and commercial settings. This trend is particularly prominent in the hospitality sector, including bars and pubs, where unique glass tableware can enhance the overall dining experience.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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