The global table & kitchen glassware market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). The rapid urbanization coupled with rising disposable income is shifting consumers towards more sophisticated dining practices. According to the data published by UNCTAD in 2021, the share of the urban population increased to 56.2% in 2020. In developed economies, 79.0% of people live in cities. Also, as per the data published by United Nations Organization, the global population is projected to increase by 2 billion persons in the next 30 years from 7.7 billion in 2020 to 9.7 billion in 2050 and could peak at nearly 11 billion around 2100.
The growth has been driven by increasing urbanization and accelerating migration. 61.0% of the global population lives in Asia, 17.0% in Africa, 10.0% in Europe, 8.0% in Latin America, and the remaining 5.0% in Northern America. Moreover, as per the data published by Statistics Canada, the share of disposable income for the household in the lowest quintile increased from 6.1% in the first quarter to a high of 7.2% in the second quarter of 2020. Also, as per OECD, the average household net adjusted disposable income per capita is $30,490 per annum. Thus, the rapid urbanization coupled with growing disposable income is anticipated to fuel the demand for the global table and kitchen glassware market.
The growing tourism and hospitality industry is anticipated to drive the growth of the global table & kitchen glassware market. According to the data published by India Brand Equity Foundation (IBEF) 2022, the foreign tourist arrivals in India had stood at 10.93 million in 2019. Between January 2021 and April 2021, the foreign tourist arrivals accounted for 376,083. Further, by 2028, international tourist arrivals are projected to reach 30.5 billion and generate revenue of over $ 59 billion. In addition, international hotel chains are surging their presence in the country and are anticipated to account for 47.0% share in the tourism and hospitality sector in India by 2020 and 50.0% by 2022. Moreover, the Indian hotel market including domestic inbound and outbound is estimated at $32 billion in 2020 and is projected to reach $52 billion by 2027, driven by surging demand from travelers. Thus, the surging tourism and hospitality industry is anticipated to fuel the demand for the global disposable water bottle market.
Looking toward the demand for table and kitchen glassware, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in March 2022, ThinKitchen in collaboration with Dartington Crystal launched The Connoisseur Collection. The collection features a set of whiskey-tasting glasses and a set of universal wine glasses. The collection engages all senses to evaluate the color, smell, and taste of the spirit. Thus, such launches are anticipated to drive the growth of the global table and kitchen glassware market.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product
- By Type
- By Application
- By Distribution Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- ARC International, Tervis Tumbler Co., and The Boelter Companies among others
A full report is available at: https://orionmarketreports.com/global-table-kitchen-glassware-market/112158/
Global Table & Kitchen Glassware Market Report by Segment
By Type
Drinkware
Dinnerware
Others
By Application
- Commercial Use
- Residential Use
By Product
- Tea Pots
- Pitchers
- Coffee Brewers
- Wine Glass
- Beer Glass
- Cups
- Mugs
- Bowls
- Plates
- Others
By Distribution Channel
- Supermarket
- Independent Store
- E-commerce
- Others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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